Can I retire at age 64 with 950,000?

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 $950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$78,450$77,751$77,070$76,404$75,754$74,622
2 years$38,837$38,113$37,412$36,733$36,073$34,936
3 years$25,634$24,908$24,208$23,535$22,887$21,778
4 years$19,034$18,310$17,617$16,956$16,323$15,252
5 years$15,075$14,355$13,672$13,024$12,408$11,379
6 years$12,436$11,722$11,049$10,415$9,818$8,831
7 years$10,552$9,844$9,182$8,563$7,985$7,041
8 years$9,140$8,438$7,787$7,183$6,624$5,722
9 years$8,042$7,347$6,707$6,118$5,579$4,719
10 years$7,165$6,476$5,847$5,274$4,753$3,935
11 years$6,447$5,765$5,148$4,590$4,088$3,310
12 years$5,849$5,175$4,568$4,026$3,543$2,804
13 years$5,344$4,676$4,082$3,554$3,089$2,390
14 years$4,911$4,251$3,667$3,155$2,708$2,046
15 years$4,536$3,883$3,311$2,814$2,384$1,758
16 years$4,209$3,563$3,002$2,520$2,107$1,516
17 years$3,920$3,281$2,732$2,264$1,868$1,311
18 years$3,664$3,032$2,494$2,040$1,661$1,137
19 years$3,435$2,810$2,283$1,843$1,481$988
20 years$3,229$2,611$2,095$1,670$1,323$859
21 years$3,043$2,432$1,927$1,515$1,184$749
22 years$2,874$2,270$1,776$1,378$1,061$653
23 years$2,720$2,123$1,640$1,255$952$571
24 years$2,579$1,989$1,517$1,144$856$499
25 years$2,449$1,867$1,405$1,045$770$437
26 years$2,330$1,755$1,303$956$694$383
27 years$2,220$1,651$1,210$875$626$335
28 years$2,117$1,556$1,125$801$564$294
29 years$2,022$1,468$1,047$735$510$258
30 years$1,934$1,386$975$674$461$226
31 years$1,851$1,311$909$619$416$199
32 years$1,774$1,240$848$569$377$174
33 years$1,701$1,174$792$523$341$153
34 years$1,633$1,113$740$482$309$135
35 years$1,569$1,056$692$443$280$118
36 years$1,509$1,002$647$408$253$104
37 years$1,452$952$606$376$230$91
38 years$1,398$904$567$347$208$80
39 years$1,347$860$531$320$189$71
40 years$1,299$818$498$295$171$62
41 years$1,253$779$467$272$155$55
42 years$1,209$742$438$251$141$48
43 years$1,168$707$411$232$128$42
44 years$1,129$674$386$214$116$37
45 years$1,091$642$362$198$105$33
46 years$1,055$613$340$183$96$29
47 years$1,021$585$320$169$87$25
48 years$989$558$300$156$79$22
49 years$957$533$282$144$72$20
50 years$928$509$265$133$65$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $950,000, adding $3,767 every year, while hoping to spend $41,963 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: 38/45/17 Blend
63$950,000$950,000$950,000$950,000
64$1,050,786$1,000,436$985,711$1,085,209
65$1,113,317$1,004,809$974,084$1,114,644
66$1,180,821$1,007,990$960,661$1,142,148
67$1,253,759$1,009,876$945,337$1,170,987
68$1,332,641$1,010,358$928,004$1,201,301
69$1,418,025$1,009,320$908,547$1,233,250
70$1,510,526$1,006,639$886,846$1,267,013
71$1,610,820$1,002,184$862,775$1,302,790
72$1,719,649$995,817$836,204$1,340,802
73$1,837,832$987,391$806,995$1,381,299
74$1,966,267$976,749$775,006$1,424,558
75$2,105,943$963,727$740,085$1,470,890
76$2,257,948$948,148$702,077$1,520,640
77$2,423,480$929,828$660,818$1,574,192
78$2,603,855$908,570$616,135$1,631,976
79$2,800,523$884,165$567,851$1,694,470
80$3,015,081$856,394$515,779$1,762,204
81$3,249,284$825,022$459,722$1,835,770
82$3,505,066$789,802$399,477$1,915,825
83$3,784,554$750,475$334,832$2,003,099
84$4,090,093$706,762$265,562$2,098,405
85$4,424,261$658,372$191,437$2,202,644
86$4,789,899$604,996$112,214$2,316,817
87$5,190,135$546,306$27,639$2,442,035
88$5,628,412$481,959$0$2,579,532
89$6,108,523$411,588$0$2,742,033
90$6,634,645$334,809$0$2,925,785
91$7,211,378$251,213$0$3,127,503
92$7,843,787$160,371$0$3,349,105
93$8,537,453$61,829$0$3,592,712
94$9,298,521$0$0$3,860,673
95$10,133,761$0$0$4,177,812
96$11,050,629$0$0$4,559,687
97$12,057,340$0$0$4,979,119
98$13,162,941$0$0$5,439,895
99$14,377,399$0$0$5,946,187
100$15,711,694$0$0$6,502,590