Can I retire at age 64 with 949,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $949,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$78,368$77,669$76,988$76,324$75,675$73,785
2 years$38,796$38,073$37,373$36,694$36,036$34,144
3 years$25,607$24,881$24,183$23,510$22,862$21,028
4 years$19,014$18,290$17,599$16,938$16,306$14,542
5 years$15,059$14,340$13,657$13,010$12,395$10,708
6 years$12,423$11,710$11,037$10,404$9,808$8,198
7 years$10,541$9,834$9,172$8,554$7,977$6,445
8 years$9,131$8,429$7,779$7,176$6,617$5,163
9 years$8,034$7,339$6,700$6,112$5,573$4,194
10 years$7,157$6,469$5,841$5,269$4,748$3,444
11 years$6,440$5,759$5,142$4,585$4,084$2,852
12 years$5,843$5,169$4,564$4,022$3,539$2,377
13 years$5,338$4,671$4,077$3,551$3,086$1,992
14 years$4,906$4,246$3,663$3,152$2,705$1,677
15 years$4,532$3,879$3,308$2,811$2,382$1,417
16 years$4,204$3,559$2,999$2,517$2,105$1,200
17 years$3,916$3,278$2,729$2,261$1,866$1,020
18 years$3,660$3,029$2,491$2,038$1,660$868
19 years$3,431$2,807$2,280$1,842$1,479$740
20 years$3,225$2,608$2,093$1,668$1,321$632
21 years$3,039$2,430$1,925$1,514$1,182$540
22 years$2,871$2,268$1,774$1,376$1,060$462
23 years$2,717$2,121$1,638$1,253$951$396
24 years$2,576$1,987$1,515$1,143$855$340
25 years$2,447$1,865$1,403$1,044$769$291
26 years$2,327$1,753$1,301$955$693$250
27 years$2,217$1,650$1,209$874$625$215
28 years$2,115$1,554$1,123$801$564$185
29 years$2,020$1,466$1,045$734$509$159
30 years$1,932$1,385$974$674$460$136
31 years$1,849$1,309$908$619$416$117
32 years$1,772$1,239$847$569$376$101
33 years$1,700$1,173$791$523$340$87
34 years$1,632$1,112$739$481$308$75
35 years$1,568$1,055$691$443$279$64
36 years$1,507$1,001$646$408$253$55
37 years$1,450$951$605$376$229$48
38 years$1,397$903$566$346$208$41
39 years$1,346$859$531$319$189$35
40 years$1,297$817$497$295$171$30
41 years$1,252$778$466$272$155$26
42 years$1,208$741$438$251$141$23
43 years$1,167$706$411$232$128$19
44 years$1,128$673$385$214$116$17
45 years$1,090$642$362$197$105$14
46 years$1,054$612$340$182$96$12
47 years$1,020$584$319$169$87$11
48 years$988$558$300$156$79$9
49 years$956$533$282$144$72$8
50 years$927$509$265$133$65$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $949,000, adding $3,535 every year, while hoping to spend $56,352 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 53/31/16 Blend
63$949,000$949,000$949,000$949,000
64$1,049,444$999,147$984,438$1,100,366
65$1,096,530$988,147$957,458$1,124,574
66$1,146,529$974,720$927,687$1,144,627
67$1,199,680$958,686$894,969$1,165,192
68$1,256,243$939,857$859,146$1,186,331
69$1,316,502$918,033$820,050$1,208,119
70$1,380,770$893,001$777,506$1,230,640
71$1,449,387$864,537$731,332$1,253,990
72$1,522,729$832,404$681,336$1,278,278
73$1,601,205$796,349$627,318$1,303,631
74$1,685,265$756,107$569,070$1,330,189
75$1,775,402$711,396$506,374$1,358,114
76$1,872,158$661,920$439,002$1,387,588
77$1,976,126$607,362$366,717$1,418,815
78$2,087,959$547,390$289,270$1,452,027
79$2,208,372$481,654$206,402$1,487,487
80$2,338,151$409,781$117,842$1,525,487
81$2,478,161$331,378$23,308$1,566,357
82$2,629,350$246,032$0$1,610,470
83$2,792,759$153,304$0$1,671,483
84$2,969,536$52,731$0$1,741,726
85$3,160,940$0$0$1,817,794
86$3,368,355$0$0$1,919,488
87$3,593,304$0$0$2,049,365
88$3,837,460$0$0$2,190,413
89$4,102,667$0$0$2,343,706
90$4,390,949$0$0$2,510,426
91$4,704,534$0$0$2,691,873
92$5,045,875$0$0$2,889,477
93$5,417,669$0$0$3,104,812
94$5,822,886$0$0$3,339,611
95$6,264,792$0$0$3,595,780
96$6,746,983$0$0$3,875,416
97$7,273,418$0$0$4,180,832
98$7,848,455$0$0$4,514,568
99$8,476,889$0$0$4,879,425
100$9,164,002$0$0$5,278,485