Can I retire at age 64 with 962,000?

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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$79,441$78,733$78,043$77,369$76,711$74,918
2 years$39,327$38,595$37,885$37,197$36,529$34,732
3 years$25,958$25,222$24,514$23,832$23,176$21,432
4 years$19,274$18,541$17,840$17,170$16,529$14,851
5 years$15,265$14,536$13,845$13,188$12,565$10,959
6 years$12,593$11,870$11,188$10,547$9,942$8,408
7 years$10,686$9,968$9,298$8,671$8,086$6,625
8 years$9,256$8,545$7,885$7,274$6,708$5,319
9 years$8,144$7,440$6,791$6,196$5,649$4,332
10 years$7,255$6,558$5,921$5,341$4,813$3,566
11 years$6,528$5,838$5,213$4,648$4,140$2,960
12 years$5,923$5,240$4,626$4,077$3,587$2,474
13 years$5,411$4,735$4,133$3,599$3,128$2,079
14 years$4,973$4,304$3,714$3,195$2,742$1,755
15 years$4,594$3,932$3,353$2,849$2,414$1,487
16 years$4,262$3,608$3,040$2,551$2,134$1,263
17 years$3,970$3,322$2,766$2,292$1,892$1,076
18 years$3,710$3,070$2,525$2,066$1,682$919
19 years$3,478$2,845$2,312$1,867$1,499$786
20 years$3,270$2,644$2,122$1,691$1,339$673
21 years$3,081$2,463$1,951$1,534$1,199$577
22 years$2,910$2,299$1,799$1,395$1,074$496
23 years$2,754$2,150$1,661$1,271$964$426
24 years$2,611$2,015$1,536$1,159$867$366
25 years$2,480$1,891$1,422$1,058$780$315
26 years$2,359$1,777$1,319$968$703$271
27 years$2,248$1,672$1,225$886$633$234
28 years$2,144$1,576$1,139$812$572$202
29 years$2,048$1,486$1,060$744$516$174
30 years$1,958$1,404$987$683$466$150
31 years$1,875$1,327$920$627$422$129
32 years$1,796$1,256$859$576$381$112
33 years$1,723$1,189$802$530$345$96
34 years$1,654$1,127$749$488$312$83
35 years$1,589$1,069$700$449$283$72
36 years$1,528$1,015$655$414$256$62
37 years$1,470$964$613$381$232$54
38 years$1,416$916$574$351$211$46
39 years$1,364$871$538$324$191$40
40 years$1,315$829$504$299$173$35
41 years$1,269$789$473$276$157$30
42 years$1,225$751$444$254$143$26
43 years$1,183$716$416$235$129$22
44 years$1,143$682$391$217$118$19
45 years$1,105$651$367$200$107$17
46 years$1,069$621$345$185$97$14
47 years$1,034$592$324$171$88$12
48 years$1,001$565$304$158$80$11
49 years$969$540$286$146$73$9
50 years$939$516$269$135$66$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $962,000, adding $5,034 every year, while hoping to spend $29,594 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: 53/37/10 Blend
63$962,000$962,000$962,000$962,000
64$1,065,317$1,014,331$999,420$1,118,799
65$1,142,491$1,032,545$1,001,412$1,173,920
66$1,226,546$1,050,660$1,002,480$1,230,229
67$1,318,150$1,068,640$1,002,560$1,290,795
68$1,418,044$1,086,445$1,001,588$1,356,029
69$1,527,037$1,104,034$999,495$1,426,381
70$1,646,026$1,121,362$996,208$1,502,348
71$1,775,993$1,138,381$991,653$1,584,478
72$1,918,021$1,155,039$985,751$1,673,378
73$2,073,305$1,171,281$978,419$1,769,712
74$2,243,156$1,187,048$969,570$1,874,216
75$2,429,020$1,202,276$959,113$1,987,701
76$2,632,490$1,216,898$946,954$2,111,060
77$2,855,319$1,230,841$932,992$2,245,280
78$3,099,438$1,244,028$917,123$2,391,447
79$3,366,972$1,256,377$899,238$2,550,760
80$3,660,264$1,267,800$879,223$2,724,540
81$3,981,892$1,278,203$856,958$2,914,246
82$4,334,697$1,287,487$832,318$3,121,485
83$4,721,807$1,295,545$805,172$3,348,030
84$5,146,670$1,302,265$775,383$3,595,836
85$5,613,080$1,307,526$742,809$3,867,058
86$6,125,220$1,311,200$707,298$4,164,074
87$6,687,695$1,313,153$668,696$4,489,505
88$7,305,581$1,313,238$626,839$4,846,243
89$7,984,467$1,311,303$581,554$5,237,475
90$8,730,512$1,307,186$532,665$5,666,717
91$9,550,499$1,300,713$479,985$6,137,844
92$10,451,904$1,291,702$423,318$6,655,132
93$11,442,960$1,279,957$362,461$7,223,294
94$12,532,740$1,265,274$297,202$7,847,526
95$13,731,240$1,247,432$227,318$8,533,559
96$15,049,472$1,226,202$152,579$9,287,710
97$16,499,569$1,201,337$72,741$10,116,948
98$18,094,901$1,172,578$0$11,028,953
99$19,850,195$1,139,649$0$12,033,524
100$21,781,683$1,102,260$0$13,147,037