Can I retire at age 64 with 972,000?

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 $972,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$80,267$79,552$78,854$78,173$77,509$77,150
2 years$39,736$38,996$38,279$37,583$36,909$36,546
3 years$26,228$25,484$24,769$24,080$23,417$23,062
4 years$19,475$18,734$18,025$17,348$16,701$16,357
5 years$15,424$14,687$13,988$13,325$12,696$12,363
6 years$12,724$11,993$11,305$10,656$10,046$9,725
7 years$10,797$10,072$9,394$8,761$8,170$7,862
8 years$9,352$8,634$7,967$7,349$6,778$6,482
9 years$8,229$7,517$6,862$6,260$5,708$5,424
10 years$7,330$6,626$5,983$5,396$4,863$4,591
11 years$6,596$5,899$5,267$4,696$4,183$3,923
12 years$5,985$5,294$4,674$4,119$3,625$3,376
13 years$5,468$4,785$4,176$3,637$3,161$2,924
14 years$5,025$4,349$3,752$3,228$2,771$2,545
15 years$4,641$3,973$3,388$2,879$2,439$2,225
16 years$4,306$3,645$3,072$2,578$2,156$1,952
17 years$4,011$3,357$2,795$2,316$1,912$1,718
18 years$3,749$3,102$2,551$2,087$1,700$1,516
19 years$3,514$2,875$2,336$1,886$1,515$1,340
20 years$3,304$2,671$2,144$1,708$1,353$1,188
21 years$3,113$2,488$1,972$1,550$1,211$1,055
22 years$2,940$2,323$1,817$1,410$1,086$938
23 years$2,783$2,172$1,678$1,284$974$835
24 years$2,638$2,035$1,552$1,171$876$744
25 years$2,506$1,910$1,437$1,069$788$664
26 years$2,384$1,795$1,333$978$710$593
27 years$2,271$1,690$1,238$895$640$530
28 years$2,166$1,592$1,151$820$578$474
29 years$2,069$1,502$1,071$752$521$425
30 years$1,979$1,418$997$690$471$380
31 years$1,894$1,341$930$634$426$341
32 years$1,815$1,269$868$582$385$306
33 years$1,741$1,202$810$536$349$274
34 years$1,671$1,139$757$493$316$246
35 years$1,606$1,080$708$454$286$221
36 years$1,544$1,025$662$418$259$198
37 years$1,485$974$620$385$235$178
38 years$1,430$925$580$355$213$160
39 years$1,378$880$544$327$193$144
40 years$1,329$837$510$302$175$129
41 years$1,282$797$478$278$159$116
42 years$1,237$759$448$257$144$104
43 years$1,195$723$421$237$131$94
44 years$1,155$689$395$219$119$84
45 years$1,116$657$371$202$108$76
46 years$1,080$627$348$187$98$68
47 years$1,045$598$327$173$89$61
48 years$1,012$571$307$159$81$55
49 years$980$545$289$147$73$50
50 years$949$521$272$136$67$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $972,000, adding $3,934 every year, while hoping to spend $56,692 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: 66/25/9 Blend
63$972,000$972,000$972,000$972,000
64$1,075,202$1,023,686$1,008,620$1,143,959
65$1,124,553$1,013,527$982,089$1,180,038
66$1,177,037$1,000,970$952,769$1,212,347
67$1,232,915$985,837$920,507$1,246,181
68$1,292,471$967,942$885,142$1,281,681
69$1,356,016$947,084$846,508$1,319,008
70$1,423,892$923,053$804,428$1,358,337
71$1,496,472$895,626$758,719$1,399,865
72$1,574,167$864,566$709,191$1,443,810
73$1,657,426$829,624$655,643$1,490,417
74$1,746,742$790,534$597,866$1,539,954
75$1,842,656$747,017$535,641$1,592,722
76$1,945,763$698,777$468,741$1,649,053
77$2,056,714$645,500$396,927$1,709,320
78$2,176,226$586,856$319,950$1,773,931
79$2,305,083$522,495$237,552$1,843,344
80$2,444,152$452,047$149,459$1,918,064
81$2,594,379$375,122$55,390$1,998,654
82$2,756,809$291,306$0$2,085,736
83$2,932,588$200,164$0$2,184,323
84$3,122,975$101,235$0$2,296,817
85$3,329,357$0$0$2,418,773
86$3,553,256$0$0$2,552,807
87$3,796,349$0$0$2,728,619
88$4,060,478$0$0$2,919,701
89$4,347,671$0$0$3,127,524
90$4,660,158$0$0$3,353,711
91$5,000,392$0$0$3,600,046
92$5,371,075$0$0$3,868,490
93$5,775,178$0$0$4,161,205
94$6,215,971$0$0$4,480,568
95$6,697,054$0$0$4,829,196
96$7,222,390$0$0$5,209,970
97$7,796,341$0$0$5,626,061
98$8,423,709$0$0$6,080,960
99$9,109,780$0$0$6,578,512
100$9,860,377$0$0$7,122,949