Can I retire at age 64 with 962,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%17.8%
1 years$79,441$78,733$78,043$77,369$76,711$74,285
2 years$39,327$38,595$37,885$37,197$36,529$34,107
3 years$25,958$25,222$24,514$23,832$23,176$20,833
4 years$19,274$18,541$17,840$17,170$16,529$14,285
5 years$15,265$14,536$13,845$13,188$12,565$10,424
6 years$12,593$11,870$11,188$10,547$9,942$7,907
7 years$10,686$9,968$9,298$8,671$8,086$6,156
8 years$9,256$8,545$7,885$7,274$6,708$4,883
9 years$8,144$7,440$6,791$6,196$5,649$3,926
10 years$7,255$6,558$5,921$5,341$4,813$3,189
11 years$6,528$5,838$5,213$4,648$4,140$2,612
12 years$5,923$5,240$4,626$4,077$3,587$2,153
13 years$5,411$4,735$4,133$3,599$3,128$1,784
14 years$4,973$4,304$3,714$3,195$2,742$1,484
15 years$4,594$3,932$3,353$2,849$2,414$1,239
16 years$4,262$3,608$3,040$2,551$2,134$1,037
17 years$3,970$3,322$2,766$2,292$1,892$870
18 years$3,710$3,070$2,525$2,066$1,682$731
19 years$3,478$2,845$2,312$1,867$1,499$616
20 years$3,270$2,644$2,122$1,691$1,339$519
21 years$3,081$2,463$1,951$1,534$1,199$438
22 years$2,910$2,299$1,799$1,395$1,074$370
23 years$2,754$2,150$1,661$1,271$964$313
24 years$2,611$2,015$1,536$1,159$867$265
25 years$2,480$1,891$1,422$1,058$780$224
26 years$2,359$1,777$1,319$968$703$190
27 years$2,248$1,672$1,225$886$633$161
28 years$2,144$1,576$1,139$812$572$136
29 years$2,048$1,486$1,060$744$516$115
30 years$1,958$1,404$987$683$466$98
31 years$1,875$1,327$920$627$422$83
32 years$1,796$1,256$859$576$381$70
33 years$1,723$1,189$802$530$345$60
34 years$1,654$1,127$749$488$312$51
35 years$1,589$1,069$700$449$283$43
36 years$1,528$1,015$655$414$256$36
37 years$1,470$964$613$381$232$31
38 years$1,416$916$574$351$211$26
39 years$1,364$871$538$324$191$22
40 years$1,315$829$504$299$173$19
41 years$1,269$789$473$276$157$16
42 years$1,225$751$444$254$143$14
43 years$1,183$716$416$235$129$12
44 years$1,143$682$391$217$118$10
45 years$1,105$651$367$200$107$8
46 years$1,069$621$345$185$97$7
47 years$1,034$592$324$171$88$6
48 years$1,001$565$304$158$80$5
49 years$969$540$286$146$73$4
50 years$939$516$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 $962,000, adding $2,405 every year, while hoping to spend $24,754 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: 51/44/5 Blend
63$962,000$962,000$962,000$962,000
64$1,062,605$1,011,619$996,708$1,115,446
65$1,144,652$1,034,850$1,003,759$1,174,814
66$1,234,239$1,058,390$1,010,218$1,236,425
67$1,332,108$1,082,228$1,016,036$1,302,797
68$1,439,077$1,106,350$1,021,167$1,374,381
69$1,556,046$1,130,745$1,025,560$1,451,675
70$1,684,007$1,155,395$1,029,160$1,535,226
71$1,824,050$1,180,285$1,031,912$1,625,637
72$1,977,379$1,205,395$1,033,757$1,723,571
73$2,145,317$1,230,704$1,034,633$1,829,760
74$2,329,321$1,256,190$1,034,475$1,945,009
75$2,530,997$1,281,829$1,033,215$2,070,206
76$2,752,112$1,307,592$1,030,781$2,206,328
77$2,994,615$1,333,451$1,027,099$2,354,452
78$3,260,648$1,359,373$1,022,090$2,515,764
79$3,552,576$1,385,323$1,015,671$2,691,573
80$3,872,999$1,411,265$1,007,756$2,883,318
81$4,224,784$1,437,156$998,256$3,092,588
82$4,611,089$1,462,954$987,074$3,321,130
83$5,035,391$1,488,609$974,112$3,570,874
84$5,501,523$1,514,073$959,266$3,843,944
85$6,013,704$1,539,288$942,427$4,142,681
86$6,576,584$1,564,196$923,482$4,469,665
87$7,195,288$1,588,733$902,310$4,827,740
88$7,875,457$1,612,831$878,788$5,220,039
89$8,623,311$1,636,417$852,784$5,650,018
90$9,445,700$1,659,412$824,163$6,121,483
91$10,350,170$1,681,733$792,782$6,638,630
92$11,345,039$1,703,289$758,491$7,206,083
93$12,439,467$1,723,984$721,135$7,828,939
94$13,643,550$1,743,717$680,550$8,512,817
95$14,968,410$1,762,377$636,566$9,263,908
96$16,426,301$1,779,847$589,006$10,089,037
97$18,030,728$1,796,004$537,681$10,995,726
98$19,796,569$1,810,714$482,400$11,992,264
99$21,740,216$1,823,836$422,957$13,087,792
100$23,879,734$1,835,220$359,142$14,292,379