Can I retire at age 64 with 960,000?

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 $960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$79,276$78,570$77,881$77,208$76,552$74,884
2 years$39,245$38,515$37,806$37,119$36,453$34,781
3 years$25,904$25,170$24,463$23,783$23,127$21,503
4 years$19,234$18,502$17,803$17,134$16,495$14,931
5 years$15,234$14,506$13,816$13,161$12,539$11,041
6 years$12,567$11,845$11,165$10,525$9,922$8,490
7 years$10,664$9,948$9,278$8,653$8,069$6,704
8 years$9,236$8,527$7,869$7,259$6,694$5,396
9 years$8,127$7,424$6,777$6,183$5,637$4,404
10 years$7,240$6,544$5,909$5,330$4,803$3,635
11 years$6,515$5,826$5,202$4,638$4,131$3,025
12 years$5,911$5,229$4,617$4,068$3,580$2,535
13 years$5,400$4,725$4,125$3,592$3,122$2,136
14 years$4,963$4,295$3,706$3,188$2,736$1,808
15 years$4,584$3,924$3,346$2,844$2,409$1,536
16 years$4,253$3,600$3,034$2,546$2,129$1,309
17 years$3,961$3,316$2,760$2,288$1,888$1,118
18 years$3,702$3,064$2,520$2,062$1,679$957
19 years$3,471$2,839$2,307$1,863$1,496$821
20 years$3,263$2,639$2,117$1,687$1,337$705
21 years$3,075$2,458$1,947$1,531$1,196$607
22 years$2,904$2,294$1,795$1,392$1,072$523
23 years$2,748$2,146$1,657$1,268$962$451
24 years$2,606$2,010$1,533$1,156$865$389
25 years$2,475$1,887$1,420$1,056$778$336
26 years$2,354$1,773$1,317$966$701$290
27 years$2,243$1,669$1,223$884$632$251
28 years$2,140$1,572$1,136$810$570$217
29 years$2,044$1,483$1,058$743$515$188
30 years$1,954$1,401$985$682$465$162
31 years$1,871$1,324$918$626$421$140
32 years$1,792$1,253$857$575$381$122
33 years$1,719$1,187$800$529$344$105
34 years$1,650$1,125$748$487$312$91
35 years$1,586$1,067$699$448$282$79
36 years$1,525$1,013$654$413$256$69
37 years$1,467$962$612$380$232$59
38 years$1,413$914$573$350$210$51
39 years$1,361$869$537$323$191$45
40 years$1,312$827$503$298$173$39
41 years$1,266$787$472$275$157$34
42 years$1,222$750$443$254$142$29
43 years$1,180$714$415$234$129$25
44 years$1,141$681$390$216$117$22
45 years$1,103$649$366$200$106$19
46 years$1,067$619$344$185$97$16
47 years$1,032$591$323$170$88$14
48 years$999$564$304$158$80$12
49 years$967$539$285$146$72$11
50 years$937$515$268$135$66$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $960,000, adding $2,043 every year, while hoping to spend $55,262 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: 46/44/10 Blend
63$960,000$960,000$960,000$960,000
64$1,060,027$1,009,147$994,267$1,105,737
65$1,109,352$999,797$968,777$1,128,166
66$1,161,855$988,137$940,581$1,146,618
67$1,217,803$973,995$909,529$1,165,379
68$1,277,488$957,189$875,467$1,184,499
69$1,341,227$937,526$838,230$1,204,032
70$1,409,371$914,804$797,650$1,224,044
71$1,482,303$888,805$753,547$1,244,612
72$1,560,443$859,302$705,736$1,265,824
73$1,644,252$826,052$654,022$1,287,783
74$1,734,236$788,798$598,202$1,310,604
75$1,830,949$747,271$538,063$1,334,423
76$1,935,002$701,183$473,384$1,359,394
77$2,047,063$650,232$403,933$1,385,693
78$2,167,867$594,097$329,469$1,413,518
79$2,298,221$532,439$249,738$1,443,097
80$2,439,012$464,901$164,476$1,474,688
81$2,591,215$391,105$73,409$1,508,581
82$2,755,900$310,650$0$1,545,105
83$2,934,245$223,115$0$1,587,169
84$3,127,544$128,054$0$1,641,178
85$3,337,221$24,996$0$1,699,795
86$3,564,840$0$0$1,763,583
87$3,812,125$0$0$1,875,083
88$4,080,968$0$0$2,009,558
89$4,373,454$0$0$2,155,961
90$4,691,874$0$0$2,315,452
91$5,038,752$0$0$2,489,308
92$5,416,862$0$0$2,678,935
93$5,829,261$0$0$2,885,878
94$6,279,311$0$0$3,111,841
95$6,770,713$0$0$3,358,698
96$7,307,541$0$0$3,628,511
97$7,894,282$0$0$3,923,553
98$8,535,874$0$0$4,246,325
99$9,237,754$0$0$4,599,581
100$10,005,909$0$0$4,986,352