Can I retire at age 64 with 961,000?

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 $961,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$79,358$78,652$77,962$77,289$76,631$76,212
2 years$39,286$38,555$37,846$37,158$36,491$36,068
3 years$25,931$25,196$24,489$23,808$23,152$22,738
4 years$19,254$18,522$17,821$17,152$16,512$16,111
5 years$15,249$14,521$13,830$13,174$12,552$12,165
6 years$12,580$11,858$11,177$10,536$9,932$9,559
7 years$10,675$9,958$9,288$8,662$8,077$7,719
8 years$9,246$8,536$7,877$7,266$6,701$6,356
9 years$8,135$7,432$6,784$6,189$5,643$5,313
10 years$7,248$6,551$5,915$5,335$4,808$4,492
11 years$6,522$5,832$5,207$4,643$4,135$3,833
12 years$5,917$5,234$4,621$4,073$3,584$3,295
13 years$5,406$4,730$4,129$3,596$3,125$2,850
14 years$4,968$4,300$3,710$3,192$2,739$2,477
15 years$4,589$3,928$3,349$2,847$2,412$2,163
16 years$4,258$3,604$3,037$2,549$2,132$1,895
17 years$3,966$3,319$2,763$2,290$1,890$1,665
18 years$3,706$3,067$2,523$2,064$1,681$1,467
19 years$3,474$2,842$2,309$1,865$1,498$1,296
20 years$3,266$2,641$2,119$1,689$1,338$1,147
21 years$3,078$2,460$1,949$1,533$1,197$1,017
22 years$2,907$2,297$1,797$1,394$1,073$903
23 years$2,751$2,148$1,659$1,269$963$802
24 years$2,609$2,012$1,534$1,158$866$714
25 years$2,478$1,889$1,421$1,057$779$636
26 years$2,357$1,775$1,318$967$702$567
27 years$2,245$1,670$1,224$885$633$506
28 years$2,142$1,574$1,138$811$571$452
29 years$2,046$1,485$1,059$743$516$404
30 years$1,956$1,402$986$682$466$361
31 years$1,873$1,326$919$627$421$323
32 years$1,794$1,254$858$576$381$289
33 years$1,721$1,188$801$530$345$259
34 years$1,652$1,126$748$487$312$232
35 years$1,587$1,068$700$449$283$208
36 years$1,526$1,014$654$413$256$186
37 years$1,469$963$613$381$232$167
38 years$1,414$915$574$351$211$150
39 years$1,363$870$537$323$191$134
40 years$1,314$828$504$298$173$121
41 years$1,268$788$472$275$157$108
42 years$1,223$750$443$254$143$97
43 years$1,182$715$416$235$129$87
44 years$1,142$681$390$217$117$78
45 years$1,104$650$366$200$107$70
46 years$1,068$620$344$185$97$63
47 years$1,033$592$323$171$88$57
48 years$1,000$565$304$158$80$51
49 years$968$539$286$146$72$46
50 years$938$515$269$135$66$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $961,000, adding $3,556 every year, while hoping to spend $44,243 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: 62/9/29 Blend
63$961,000$961,000$961,000$961,000
64$1,062,690$1,011,757$996,862$1,120,083
65$1,124,010$1,014,259$983,182$1,162,041
66$1,190,102$1,015,401$967,562$1,202,739
67$1,261,406$1,015,069$949,888$1,246,246
68$1,338,405$1,013,143$930,045$1,292,848
69$1,421,631$1,009,495$907,910$1,342,859
70$1,511,667$1,003,990$883,355$1,396,625
71$1,609,155$996,483$856,245$1,454,533
72$1,714,800$986,823$826,441$1,517,008
73$1,829,379$974,847$793,796$1,584,521
74$1,953,745$960,383$758,158$1,657,592
75$2,088,836$943,251$719,365$1,736,799
76$2,235,684$923,257$677,250$1,822,778
77$2,395,425$900,197$631,639$1,916,233
78$2,569,308$873,857$582,349$2,017,944
79$2,758,708$844,006$529,188$2,128,770
80$2,965,137$810,404$471,957$2,249,662
81$3,190,261$772,794$410,448$2,381,673
82$3,435,913$730,905$344,443$2,525,963
83$3,704,108$684,452$273,714$2,683,815
84$3,997,068$633,131$198,024$2,856,647
85$4,317,237$576,622$117,126$3,046,024
86$4,667,306$514,588$30,760$3,253,677
87$5,050,237$446,669$0$3,481,514
88$5,469,294$372,488$0$3,750,647
89$5,928,069$291,647$0$4,055,795
90$6,430,517$203,723$0$4,390,092
91$6,980,995$108,271$0$4,756,474
92$7,584,301$4,820$0$5,158,171
93$8,245,718$0$0$5,598,747
94$8,971,066$0$0$6,092,737
95$9,766,754$0$0$6,635,229
96$10,639,843$0$0$7,230,567
97$11,598,109$0$0$7,884,064
98$12,650,117$0$0$8,601,571
99$13,805,304$0$0$9,389,533
100$15,074,063$0$0$10,255,052