Can I retire at age 64 with 968,000?

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 $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%19.4%
1 years$79,937$79,225$78,530$77,852$77,190$74,274
2 years$39,573$38,836$38,121$37,429$36,757$33,853
3 years$26,120$25,379$24,667$23,981$23,320$20,520
4 years$19,395$18,657$17,951$17,277$16,632$13,956
5 years$15,360$14,627$13,931$13,270$12,643$10,099
6 years$12,672$11,944$11,258$10,612$10,004$7,594
7 years$10,752$10,031$9,356$8,725$8,136$5,858
8 years$9,313$8,598$7,934$7,319$6,750$4,602
9 years$8,195$7,486$6,834$6,234$5,684$3,664
10 years$7,300$6,599$5,958$5,374$4,843$2,947
11 years$6,569$5,874$5,245$4,677$4,165$2,389
12 years$5,960$5,273$4,655$4,102$3,610$1,948
13 years$5,445$4,765$4,159$3,622$3,148$1,597
14 years$5,004$4,331$3,737$3,215$2,759$1,314
15 years$4,622$3,957$3,374$2,867$2,429$1,084
16 years$4,289$3,630$3,059$2,567$2,147$897
17 years$3,994$3,343$2,783$2,307$1,904$744
18 years$3,733$3,089$2,541$2,079$1,693$618
19 years$3,500$2,863$2,326$1,878$1,509$514
20 years$3,290$2,660$2,135$1,701$1,348$428
21 years$3,100$2,478$1,964$1,544$1,206$357
22 years$2,928$2,313$1,810$1,404$1,081$297
23 years$2,771$2,164$1,671$1,278$970$248
24 years$2,628$2,027$1,545$1,166$872$207
25 years$2,496$1,902$1,431$1,065$785$173
26 years$2,374$1,788$1,327$974$707$145
27 years$2,262$1,683$1,233$891$637$121
28 years$2,157$1,586$1,146$817$575$101
29 years$2,061$1,496$1,066$749$519$85
30 years$1,970$1,413$993$687$469$71
31 years$1,886$1,335$926$631$424$59
32 years$1,807$1,264$864$580$384$50
33 years$1,734$1,197$807$533$347$42
34 years$1,664$1,134$754$491$314$35
35 years$1,599$1,076$705$452$285$29
36 years$1,537$1,021$659$416$258$24
37 years$1,479$970$617$383$234$20
38 years$1,425$922$578$353$212$17
39 years$1,373$876$541$326$192$14
40 years$1,323$834$507$301$174$12
41 years$1,277$794$476$277$158$10
42 years$1,232$756$446$256$144$8
43 years$1,190$720$419$236$130$7
44 years$1,150$686$393$218$118$6
45 years$1,112$655$369$201$107$5
46 years$1,075$624$347$186$97$4
47 years$1,041$596$326$172$89$3
48 years$1,007$569$306$159$80$3
49 years$976$543$288$147$73$2
50 years$945$519$270$136$66$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $968,000, adding $3,772 every year, while hoping to spend $49,965 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: 52/31/17 Blend
63$968,000$968,000$968,000$968,000
64$1,070,627$1,019,323$1,004,319$1,121,152
65$1,126,668$1,016,107$984,801$1,153,009
66$1,186,752$1,011,060$962,955$1,182,083
67$1,251,236$1,004,037$938,650$1,212,609
68$1,320,516$994,889$911,748$1,244,739
69$1,395,024$983,454$882,108$1,278,645
70$1,475,237$969,564$849,579$1,314,518
71$1,561,676$953,037$814,004$1,352,571
72$1,654,914$933,683$775,221$1,393,042
73$1,755,583$911,301$733,058$1,436,196
74$1,864,373$885,675$687,336$1,482,330
75$1,982,046$856,580$637,868$1,531,772
76$2,109,438$823,776$584,460$1,584,890
77$2,247,468$787,009$526,908$1,642,094
78$2,397,148$746,011$464,997$1,703,836
79$2,559,589$700,497$398,507$1,770,624
80$2,736,014$650,168$327,204$1,843,020
81$2,927,768$594,707$250,845$1,921,648
82$3,136,330$533,777$169,178$2,007,204
83$3,363,328$467,025$81,938$2,100,458
84$3,610,554$394,075$0$2,202,266
85$3,879,977$314,532$0$2,315,605
86$4,173,768$227,977$0$2,455,495
87$4,494,314$133,970$0$2,608,283
88$4,844,243$32,043$0$2,775,323
89$5,226,446$0$0$2,958,112
90$5,644,109$0$0$3,185,014
91$6,100,738$0$0$3,445,128
92$6,600,192$0$0$3,729,734
93$7,146,721$0$0$4,041,265
94$7,745,006$0$0$4,382,403
95$8,400,199$0$0$4,756,097
96$9,117,976$0$0$5,165,599
97$9,904,586$0$0$5,614,488
98$10,766,913$0$0$6,106,707
99$11,712,536$0$0$6,646,597
100$12,749,807$0$0$7,238,942