Can I retire at age 64 with 956,000?

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 $956,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$78,946$78,242$77,556$76,887$76,233$74,179
2 years$39,082$38,354$37,649$36,965$36,301$34,247
3 years$25,796$25,065$24,361$23,684$23,031$21,040
4 years$19,154$18,425$17,729$17,063$16,426$14,514
5 years$15,170$14,446$13,758$13,106$12,487$10,659
6 years$12,515$11,796$11,119$10,481$9,880$8,139
7 years$10,619$9,906$9,240$8,617$8,035$6,380
8 years$9,198$8,491$7,836$7,228$6,666$5,096
9 years$8,093$7,393$6,749$6,157$5,614$4,127
10 years$7,210$6,517$5,884$5,307$4,783$3,378
11 years$6,488$5,802$5,180$4,619$4,114$2,788
12 years$5,886$5,207$4,597$4,052$3,565$2,317
13 years$5,378$4,706$4,107$3,577$3,109$1,935
14 years$4,942$4,277$3,691$3,175$2,725$1,623
15 years$4,565$3,908$3,332$2,832$2,399$1,367
16 years$4,235$3,585$3,021$2,535$2,121$1,154
17 years$3,945$3,302$2,749$2,278$1,880$976
18 years$3,687$3,051$2,509$2,053$1,672$828
19 years$3,456$2,828$2,297$1,855$1,490$703
20 years$3,249$2,628$2,108$1,680$1,331$598
21 years$3,062$2,447$1,939$1,525$1,191$510
22 years$2,892$2,285$1,787$1,386$1,068$435
23 years$2,737$2,137$1,650$1,263$958$371
24 years$2,595$2,002$1,526$1,152$861$317
25 years$2,465$1,879$1,414$1,052$775$271
26 years$2,345$1,766$1,311$962$698$231
27 years$2,234$1,662$1,217$880$630$198
28 years$2,131$1,566$1,132$806$568$169
29 years$2,035$1,477$1,053$740$513$145
30 years$1,946$1,395$981$679$463$124
31 years$1,863$1,319$915$623$419$106
32 years$1,785$1,248$853$573$379$91
33 years$1,712$1,182$797$527$343$78
34 years$1,644$1,120$744$485$311$67
35 years$1,579$1,062$696$446$281$57
36 years$1,518$1,008$651$411$255$49
37 years$1,461$958$609$379$231$42
38 years$1,407$910$571$349$209$36
39 years$1,356$865$535$322$190$31
40 years$1,307$823$501$297$172$27
41 years$1,261$784$470$274$156$23
42 years$1,217$746$441$253$142$19
43 years$1,175$711$414$233$129$17
44 years$1,136$678$388$215$117$14
45 years$1,098$646$365$199$106$12
46 years$1,062$617$342$184$96$11
47 years$1,028$589$322$170$87$9
48 years$995$562$302$157$79$8
49 years$963$537$284$145$72$7
50 years$933$513$267$134$65$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $956,000, adding $6,992 every year, while hoping to spend $30,183 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: 50/45/5 Blend
63$956,000$956,000$956,000$956,000
64$1,060,724$1,010,056$995,238$1,112,146
65$1,136,804$1,027,435$996,464$1,165,271
66$1,219,632$1,044,653$996,720$1,219,126
67$1,309,864$1,061,671$995,940$1,276,916
68$1,408,225$1,078,447$994,058$1,339,014
69$1,515,507$1,094,935$991,003$1,405,835
70$1,632,588$1,111,085$986,700$1,477,834
71$1,760,429$1,126,846$981,072$1,555,512
72$1,900,092$1,142,160$974,037$1,639,422
73$2,052,743$1,156,968$965,509$1,730,176
74$2,219,668$1,171,205$955,399$1,828,447
75$2,402,283$1,184,802$943,613$1,934,977
76$2,602,144$1,197,686$930,053$2,050,585
77$2,820,969$1,209,779$914,616$2,176,174
78$3,060,646$1,220,996$897,193$2,312,741
79$3,323,256$1,231,249$877,673$2,461,383
80$3,611,090$1,240,442$855,938$2,623,313
81$3,926,673$1,248,476$831,864$2,799,868
82$4,272,784$1,255,241$805,321$2,992,521
83$4,652,484$1,260,624$776,176$3,202,899
84$5,069,146$1,264,503$744,286$3,432,795
85$5,526,483$1,266,749$709,504$3,684,187
86$6,028,588$1,267,223$671,676$3,959,256
87$6,579,968$1,265,780$630,641$4,260,410
88$7,185,586$1,262,265$586,229$4,590,301
89$7,850,914$1,256,514$538,265$4,951,857
90$8,581,975$1,248,351$486,565$5,348,307
91$9,385,408$1,237,592$430,937$5,783,209
92$10,268,526$1,224,040$371,179$6,260,490
93$11,239,384$1,207,486$307,082$6,784,482
94$12,306,859$1,187,711$238,427$7,359,958
95$13,480,730$1,164,480$164,986$7,992,185
96$14,771,770$1,137,546$86,519$8,686,971
97$16,191,851$1,106,646$2,778$9,450,720
98$17,754,051$1,071,503$0$10,290,494
99$19,472,781$1,031,823$0$11,218,699
100$21,363,917$987,295$0$12,239,762