Can I retire at age 64 with 949,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%14.9%
1 years$78,368$77,669$76,988$76,324$75,675$74,147
2 years$38,796$38,073$37,373$36,694$36,036$34,503
3 years$25,607$24,881$24,183$23,510$22,862$21,373
4 years$19,014$18,290$17,599$16,938$16,306$14,871
5 years$15,059$14,340$13,657$13,010$12,395$11,019
6 years$12,423$11,710$11,037$10,404$9,808$8,492
7 years$10,541$9,834$9,172$8,554$7,977$6,721
8 years$9,131$8,429$7,779$7,176$6,617$5,421
9 years$8,034$7,339$6,700$6,112$5,573$4,436
10 years$7,157$6,469$5,841$5,269$4,748$3,670
11 years$6,440$5,759$5,142$4,585$4,084$3,062
12 years$5,843$5,169$4,564$4,022$3,539$2,572
13 years$5,338$4,671$4,077$3,551$3,086$2,173
14 years$4,906$4,246$3,663$3,152$2,705$1,844
15 years$4,532$3,879$3,308$2,811$2,382$1,571
16 years$4,204$3,559$2,999$2,517$2,105$1,343
17 years$3,916$3,278$2,729$2,261$1,866$1,150
18 years$3,660$3,029$2,491$2,038$1,660$988
19 years$3,431$2,807$2,280$1,842$1,479$850
20 years$3,225$2,608$2,093$1,668$1,321$732
21 years$3,039$2,430$1,925$1,514$1,182$632
22 years$2,871$2,268$1,774$1,376$1,060$546
23 years$2,717$2,121$1,638$1,253$951$472
24 years$2,576$1,987$1,515$1,143$855$409
25 years$2,447$1,865$1,403$1,044$769$354
26 years$2,327$1,753$1,301$955$693$307
27 years$2,217$1,650$1,209$874$625$266
28 years$2,115$1,554$1,123$801$564$231
29 years$2,020$1,466$1,045$734$509$200
30 years$1,932$1,385$974$674$460$174
31 years$1,849$1,309$908$619$416$151
32 years$1,772$1,239$847$569$376$131
33 years$1,700$1,173$791$523$340$114
34 years$1,632$1,112$739$481$308$99
35 years$1,568$1,055$691$443$279$86
36 years$1,507$1,001$646$408$253$75
37 years$1,450$951$605$376$229$65
38 years$1,397$903$566$346$208$57
39 years$1,346$859$531$319$189$49
40 years$1,297$817$497$295$171$43
41 years$1,252$778$466$272$155$37
42 years$1,208$741$438$251$141$32
43 years$1,167$706$411$232$128$28
44 years$1,128$673$385$214$116$25
45 years$1,090$642$362$197$105$21
46 years$1,054$612$340$182$96$19
47 years$1,020$584$319$169$87$16
48 years$988$558$300$156$79$14
49 years$956$533$282$144$72$12
50 years$927$509$265$133$65$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $949,000, adding $2,407 every year, while hoping to spend $50,005 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: 57/13/30 Blend
63$949,000$949,000$949,000$949,000
64$1,048,281$997,984$983,274$1,099,241
65$1,102,001$993,680$963,009$1,130,267
66$1,159,524$987,490$940,389$1,158,667
67$1,221,185$979,267$915,282$1,188,622
68$1,287,354$968,858$887,552$1,220,301
69$1,358,431$956,100$857,052$1,253,888
70$1,434,862$940,819$823,634$1,289,594
71$1,517,131$922,833$787,139$1,327,648
72$1,605,773$901,946$747,403$1,368,310
73$1,701,374$877,954$704,253$1,411,866
74$1,804,579$850,638$657,510$1,458,635
75$1,916,095$819,768$606,986$1,508,973
76$2,036,700$785,101$552,483$1,563,274
77$2,167,250$746,377$493,798$1,621,977
78$2,308,684$703,324$430,714$1,685,569
79$2,462,036$655,653$363,010$1,754,590
80$2,628,443$603,059$290,450$1,829,640
81$2,809,154$545,219$212,790$1,911,385
82$3,005,546$481,793$129,776$2,000,564
83$3,219,129$412,419$41,142$2,097,994
84$3,451,570$336,716$0$2,204,584
85$3,704,698$254,284$0$2,338,448
86$3,980,529$164,695$0$2,498,758
87$4,281,280$67,502$0$2,673,660
88$4,609,392$0$0$2,864,624
89$4,967,551$0$0$3,078,670
90$5,358,715$0$0$3,323,063
91$5,786,138$0$0$3,590,192
92$6,253,404$0$0$3,882,304
93$6,764,460$0$0$4,201,879
94$7,323,649$0$0$4,551,643
95$7,935,756$0$0$4,934,600
96$8,606,049$0$0$5,354,057
97$9,340,327$0$0$5,813,657
98$10,144,981$0$0$6,317,411
99$11,027,046$0$0$6,869,737
100$11,994,270$0$0$7,475,500