Can I retire at age 64 with 968,000?

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 $968,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$79,937$79,225$78,530$77,852$77,190$75,324
2 years$39,573$38,836$38,121$37,429$36,757$34,888
3 years$26,120$25,379$24,667$23,981$23,320$21,507
4 years$19,395$18,657$17,951$17,277$16,632$14,889
5 years$15,360$14,627$13,931$13,270$12,643$10,974
6 years$12,672$11,944$11,258$10,612$10,004$8,411
7 years$10,752$10,031$9,356$8,725$8,136$6,620
8 years$9,313$8,598$7,934$7,319$6,750$5,309
9 years$8,195$7,486$6,834$6,234$5,684$4,318
10 years$7,300$6,599$5,958$5,374$4,843$3,550
11 years$6,569$5,874$5,245$4,677$4,165$2,943
12 years$5,960$5,273$4,655$4,102$3,610$2,457
13 years$5,445$4,765$4,159$3,622$3,148$2,062
14 years$5,004$4,331$3,737$3,215$2,759$1,738
15 years$4,622$3,957$3,374$2,867$2,429$1,470
16 years$4,289$3,630$3,059$2,567$2,147$1,247
17 years$3,994$3,343$2,783$2,307$1,904$1,061
18 years$3,733$3,089$2,541$2,079$1,693$905
19 years$3,500$2,863$2,326$1,878$1,509$772
20 years$3,290$2,660$2,135$1,701$1,348$661
21 years$3,100$2,478$1,964$1,544$1,206$566
22 years$2,928$2,313$1,810$1,404$1,081$485
23 years$2,771$2,164$1,671$1,278$970$416
24 years$2,628$2,027$1,545$1,166$872$357
25 years$2,496$1,902$1,431$1,065$785$307
26 years$2,374$1,788$1,327$974$707$264
27 years$2,262$1,683$1,233$891$637$227
28 years$2,157$1,586$1,146$817$575$195
29 years$2,061$1,496$1,066$749$519$168
30 years$1,970$1,413$993$687$469$145
31 years$1,886$1,335$926$631$424$125
32 years$1,807$1,264$864$580$384$108
33 years$1,734$1,197$807$533$347$93
34 years$1,664$1,134$754$491$314$80
35 years$1,599$1,076$705$452$285$69
36 years$1,537$1,021$659$416$258$59
37 years$1,479$970$617$383$234$51
38 years$1,425$922$578$353$212$44
39 years$1,373$876$541$326$192$38
40 years$1,323$834$507$301$174$33
41 years$1,277$794$476$277$158$28
42 years$1,232$756$446$256$144$24
43 years$1,190$720$419$236$130$21
44 years$1,150$686$393$218$118$18
45 years$1,112$655$369$201$107$16
46 years$1,075$624$347$186$97$14
47 years$1,041$596$326$172$89$12
48 years$1,007$569$306$159$80$10
49 years$976$543$288$147$73$9
50 years$945$519$270$136$66$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $968,000, adding $2,521 every year, while hoping to spend $55,827 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: 78/7/15 Blend
63$968,000$968,000$968,000$968,000
64$1,069,336$1,018,032$1,003,028$1,149,179
65$1,119,009$1,008,517$977,230$1,192,634
66$1,171,878$996,663$948,697$1,232,949
67$1,228,209$982,299$917,278$1,275,613
68$1,288,294$965,240$882,815$1,320,840
69$1,352,455$945,292$845,144$1,368,866
70$1,421,043$922,248$804,094$1,419,952
71$1,494,441$895,890$759,483$1,474,383
72$1,573,072$865,987$711,123$1,532,477
73$1,657,399$832,294$658,819$1,594,583
74$1,747,929$794,552$602,365$1,661,087
75$1,845,219$752,487$541,546$1,732,414
76$1,949,882$705,809$476,139$1,809,035
77$2,062,589$654,212$405,908$1,891,469
78$2,184,077$597,372$330,610$1,980,287
79$2,315,156$534,947$249,989$2,076,122
80$2,456,717$466,575$163,779$2,179,671
81$2,609,738$391,873$71,701$2,291,705
82$2,775,294$310,437$0$2,413,071
83$2,954,567$221,841$0$2,548,961
84$3,148,855$125,634$0$2,708,680
85$3,359,588$21,339$0$2,881,933
86$3,588,336$0$0$3,070,034
87$3,836,828$0$0$3,281,480
88$4,106,964$0$0$3,513,158
89$4,400,836$0$0$3,765,222
90$4,720,744$0$0$4,039,649
91$5,069,220$0$0$4,338,614
92$5,449,049$0$0$4,664,512
93$5,863,298$0$0$5,019,977
94$6,315,342$0$0$5,407,909
95$6,808,895$0$0$5,831,502
96$7,348,046$0$0$6,294,268
97$7,937,296$0$0$6,800,077
98$8,581,603$0$0$7,353,188
99$9,286,421$0$0$7,958,291
100$10,057,761$0$0$8,620,549