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%17.7%
1 years$79,358$78,652$77,962$77,289$76,631$74,238
2 years$39,286$38,555$37,846$37,158$36,491$34,101
3 years$25,931$25,196$24,489$23,808$23,152$20,840
4 years$19,254$18,522$17,821$17,152$16,512$14,296
5 years$15,249$14,521$13,830$13,174$12,552$10,438
6 years$12,580$11,858$11,177$10,536$9,932$7,922
7 years$10,675$9,958$9,288$8,662$8,077$6,171
8 years$9,246$8,536$7,877$7,266$6,701$4,897
9 years$8,135$7,432$6,784$6,189$5,643$3,940
10 years$7,248$6,551$5,915$5,335$4,808$3,203
11 years$6,522$5,832$5,207$4,643$4,135$2,625
12 years$5,917$5,234$4,621$4,073$3,584$2,165
13 years$5,406$4,730$4,129$3,596$3,125$1,795
14 years$4,968$4,300$3,710$3,192$2,739$1,495
15 years$4,589$3,928$3,349$2,847$2,412$1,248
16 years$4,258$3,604$3,037$2,549$2,132$1,046
17 years$3,966$3,319$2,763$2,290$1,890$878
18 years$3,706$3,067$2,523$2,064$1,681$739
19 years$3,474$2,842$2,309$1,865$1,498$622
20 years$3,266$2,641$2,119$1,689$1,338$525
21 years$3,078$2,460$1,949$1,533$1,197$443
22 years$2,907$2,297$1,797$1,394$1,073$375
23 years$2,751$2,148$1,659$1,269$963$317
24 years$2,609$2,012$1,534$1,158$866$268
25 years$2,478$1,889$1,421$1,057$779$227
26 years$2,357$1,775$1,318$967$702$193
27 years$2,245$1,670$1,224$885$633$163
28 years$2,142$1,574$1,138$811$571$138
29 years$2,046$1,485$1,059$743$516$117
30 years$1,956$1,402$986$682$466$100
31 years$1,873$1,326$919$627$421$85
32 years$1,794$1,254$858$576$381$72
33 years$1,721$1,188$801$530$345$61
34 years$1,652$1,126$748$487$312$52
35 years$1,587$1,068$700$449$283$44
36 years$1,526$1,014$654$413$256$37
37 years$1,469$963$613$381$232$32
38 years$1,414$915$574$351$211$27
39 years$1,363$870$537$323$191$23
40 years$1,314$828$504$298$173$19
41 years$1,268$788$472$275$157$16
42 years$1,223$750$443$254$143$14
43 years$1,182$715$416$235$129$12
44 years$1,142$681$390$217$117$10
45 years$1,104$650$366$200$107$9
46 years$1,068$620$344$185$97$7
47 years$1,033$592$323$171$88$6
48 years$1,000$565$304$158$80$5
49 years$968$539$286$146$72$4
50 years$938$515$269$135$66$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $961,000, adding $6,291 every year, while hoping to spend $57,800 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: 70/10/20 Blend
63$961,000$961,000$961,000$961,000
64$1,065,511$1,014,578$999,683$1,134,460
65$1,112,695$1,002,794$971,673$1,169,475
66$1,162,753$988,495$940,788$1,200,367
67$1,215,920$971,497$906,871$1,232,752
68$1,272,449$951,605$869,755$1,266,771
69$1,332,617$928,612$829,271$1,302,581
70$1,396,729$902,299$785,237$1,340,357
71$1,465,119$872,435$737,465$1,380,294
72$1,538,151$838,774$685,760$1,422,606
73$1,616,225$801,057$629,916$1,467,533
74$1,699,780$759,009$569,719$1,515,339
75$1,789,297$712,340$504,944$1,566,321
76$1,885,303$660,742$435,357$1,620,803
77$1,988,377$603,892$360,714$1,679,148
78$2,099,154$541,444$280,760$1,741,757
79$2,218,330$473,038$195,229$1,809,075
80$2,346,672$398,290$103,841$1,881,596
81$2,485,021$316,794$6,308$1,959,865
82$2,634,299$228,122$0$2,044,487
83$2,795,521$131,824$0$2,156,998
84$2,969,802$27,422$0$2,280,069
85$3,158,368$0$0$2,413,242
86$3,362,566$0$0$2,566,919
87$3,583,876$0$0$2,736,788
88$3,823,927$0$0$2,921,087
89$4,084,510$0$0$3,121,197
90$4,367,594$0$0$3,338,636
91$4,675,347$0$0$3,575,075
92$5,010,152$0$0$3,832,351
93$5,374,631$0$0$4,112,487
94$5,771,670$0$0$4,417,708
95$6,204,445$0$0$4,750,462
96$6,676,452$0$0$5,113,446
97$7,191,537$0$0$5,509,624
98$7,753,934$0$0$5,942,262
99$8,368,304$0$0$6,414,955
100$9,039,780$0$0$6,931,660