Can I retire at age 64 with 965,000?

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 $965,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$79,689$78,979$78,286$77,610$76,950$76,370
2 years$39,450$38,715$38,003$37,313$36,643$36,057
3 years$26,039$25,301$24,591$23,907$23,248$22,676
4 years$19,334$18,599$17,896$17,223$16,581$16,026
5 years$15,313$14,582$13,888$13,229$12,604$12,069
6 years$12,633$11,907$11,223$10,580$9,973$9,458
7 years$10,719$9,999$9,327$8,698$8,111$7,616
8 years$9,285$8,571$7,910$7,297$6,729$6,255
9 years$8,169$7,463$6,813$6,215$5,667$5,213
10 years$7,278$6,578$5,939$5,357$4,828$4,394
11 years$6,549$5,856$5,229$4,663$4,152$3,738
12 years$5,942$5,256$4,641$4,090$3,598$3,203
13 years$5,428$4,750$4,146$3,611$3,138$2,762
14 years$4,989$4,318$3,725$3,205$2,751$2,393
15 years$4,608$3,944$3,363$2,858$2,422$2,082
16 years$4,275$3,619$3,049$2,559$2,141$1,818
17 years$3,982$3,333$2,775$2,300$1,898$1,592
18 years$3,722$3,080$2,533$2,072$1,688$1,398
19 years$3,489$2,854$2,319$1,873$1,504$1,230
20 years$3,280$2,652$2,128$1,696$1,344$1,085
21 years$3,091$2,470$1,958$1,539$1,202$958
22 years$2,919$2,306$1,804$1,399$1,078$847
23 years$2,763$2,157$1,666$1,275$967$751
24 years$2,619$2,021$1,541$1,162$870$665
25 years$2,488$1,896$1,427$1,062$782$591
26 years$2,367$1,782$1,323$971$705$525
27 years$2,255$1,677$1,229$888$635$466
28 years$2,151$1,581$1,142$814$573$415
29 years$2,054$1,491$1,063$746$518$369
30 years$1,964$1,408$990$685$468$329
31 years$1,880$1,331$923$629$423$293
32 years$1,802$1,260$861$578$383$261
33 years$1,728$1,193$804$532$346$233
34 years$1,659$1,131$751$489$313$208
35 years$1,594$1,072$703$450$284$185
36 years$1,533$1,018$657$415$257$166
37 years$1,475$967$615$382$233$148
38 years$1,420$919$576$352$211$132
39 years$1,368$874$540$325$192$118
40 years$1,319$831$506$300$174$105
41 years$1,273$791$474$276$158$94
42 years$1,229$753$445$255$143$84
43 years$1,187$718$418$235$130$75
44 years$1,147$684$392$217$118$67
45 years$1,108$653$368$201$107$60
46 years$1,072$623$346$185$97$54
47 years$1,037$594$325$171$88$48
48 years$1,004$567$305$158$80$43
49 years$973$542$287$146$73$38
50 years$942$517$270$135$66$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $965,000, adding $6,019 every year, while hoping to spend $51,727 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: 48/35/17 Blend
63$965,000$965,000$965,000$965,000
64$1,069,639$1,018,494$1,003,536$1,115,606
65$1,123,705$1,013,363$982,117$1,142,956
66$1,181,552$1,006,247$958,248$1,166,873
67$1,243,511$996,994$931,790$1,191,729
68$1,309,945$985,443$902,601$1,217,634
69$1,381,253$971,423$870,532$1,244,708
70$1,457,872$954,754$835,426$1,273,089
71$1,540,282$935,243$797,119$1,302,932
72$1,629,008$912,688$755,440$1,334,411
73$1,724,632$886,874$710,212$1,367,722
74$1,827,786$857,573$661,246$1,403,086
75$1,939,171$824,545$608,349$1,440,748
76$2,059,553$787,534$551,315$1,480,986
77$2,189,775$746,271$489,932$1,524,109
78$2,330,765$700,471$423,977$1,570,464
79$2,483,540$649,832$353,218$1,620,439
80$2,649,223$594,035$277,412$1,674,466
81$2,829,045$532,744$196,307$1,733,030
82$3,024,361$465,602$109,636$1,796,670
83$3,236,662$392,232$17,125$1,865,988
84$3,467,588$312,238$0$1,941,656
85$3,718,943$225,199$0$2,039,222
86$3,992,713$130,671$0$2,148,994
87$4,291,082$28,186$0$2,268,847
88$4,616,455$0$0$2,399,869
89$4,971,477$0$0$2,575,140
90$5,359,063$0$0$2,778,438
91$5,782,418$0$0$3,000,603
92$6,245,072$0$0$3,243,499
93$6,750,911$0$0$3,509,181
94$7,304,215$0$0$3,799,911
95$7,909,694$0$0$4,118,178
96$8,572,536$0$0$4,466,724
97$9,298,454$0$0$4,848,569
98$10,093,738$0$0$5,267,040
99$10,965,316$0$0$5,725,797
100$11,920,819$0$0$6,228,876