Can I retire at age 64 with 973,000?

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 $973,000?

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$80,349$79,634$78,935$78,254$77,588$75,135
2 years$39,777$39,036$38,318$37,622$36,947$34,497
3 years$26,255$25,511$24,794$24,105$23,441$21,072
4 years$19,495$18,753$18,044$17,366$16,718$14,448
5 years$15,440$14,703$14,003$13,339$12,709$10,544
6 years$12,737$12,006$11,316$10,667$10,056$7,998
7 years$10,808$10,082$9,404$8,770$8,178$6,227
8 years$9,361$8,642$7,975$7,357$6,785$4,938
9 years$8,237$7,525$6,869$6,267$5,714$3,971
10 years$7,338$6,633$5,989$5,402$4,868$3,226
11 years$6,603$5,905$5,272$4,701$4,187$2,642
12 years$5,991$5,300$4,679$4,124$3,628$2,178
13 years$5,473$4,789$4,180$3,641$3,164$1,804
14 years$5,030$4,353$3,756$3,232$2,773$1,501
15 years$4,646$3,977$3,391$2,882$2,442$1,253
16 years$4,311$3,649$3,075$2,581$2,158$1,049
17 years$4,015$3,360$2,798$2,319$1,914$880
18 years$3,752$3,105$2,554$2,090$1,702$740
19 years$3,518$2,878$2,338$1,888$1,517$623
20 years$3,307$2,674$2,146$1,710$1,355$525
21 years$3,116$2,491$1,974$1,552$1,212$443
22 years$2,943$2,325$1,819$1,411$1,087$374
23 years$2,786$2,175$1,680$1,285$975$316
24 years$2,641$2,038$1,553$1,172$877$268
25 years$2,509$1,912$1,439$1,070$789$226
26 years$2,386$1,797$1,334$979$711$192
27 years$2,273$1,691$1,239$896$641$162
28 years$2,169$1,594$1,152$821$578$138
29 years$2,071$1,503$1,072$753$522$117
30 years$1,981$1,420$998$691$472$99
31 years$1,896$1,342$931$634$426$84
32 years$1,817$1,270$868$583$386$71
33 years$1,743$1,203$811$536$349$60
34 years$1,673$1,140$758$493$316$51
35 years$1,607$1,081$708$454$286$43
36 years$1,545$1,026$663$418$259$37
37 years$1,487$975$620$385$235$31
38 years$1,432$926$581$355$213$27
39 years$1,380$881$544$328$193$23
40 years$1,330$838$510$302$175$19
41 years$1,283$798$478$279$159$16
42 years$1,239$760$449$257$144$14
43 years$1,196$724$421$237$131$12
44 years$1,156$690$395$219$119$10
45 years$1,118$658$371$202$108$8
46 years$1,081$628$348$187$98$7
47 years$1,046$599$327$173$89$6
48 years$1,013$572$308$160$81$5
49 years$981$546$289$148$73$4
50 years$950$522$272$136$67$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $973,000, adding $5,507 every year, while hoping to spend $51,822 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: 45/33/22 Blend
63$973,000$973,000$973,000$973,000
64$1,077,926$1,026,357$1,011,276$1,119,377
65$1,132,737$1,021,511$990,016$1,144,269
66$1,191,401$1,014,690$966,306$1,165,729
67$1,254,257$1,005,743$940,011$1,187,948
68$1,321,677$994,510$910,986$1,211,022
69$1,394,067$980,820$879,084$1,235,060
70$1,471,875$964,493$844,146$1,260,186
71$1,555,591$945,338$806,009$1,286,539
72$1,645,753$923,152$764,503$1,314,279
73$1,742,955$897,721$719,449$1,343,584
74$1,847,845$868,818$670,659$1,374,654
75$1,961,138$836,203$617,939$1,407,718
76$2,083,618$799,621$561,084$1,443,030
77$2,216,148$758,804$499,881$1,480,876
78$2,359,677$713,466$434,109$1,521,578
79$2,515,246$663,308$363,533$1,565,495
80$2,684,001$608,011$287,912$1,613,031
81$2,867,205$547,238$206,992$1,664,637
82$3,066,242$480,635$120,509$1,720,818
83$3,282,638$407,826$28,185$1,782,137
84$3,518,071$328,414$0$1,849,224
85$3,774,388$241,979$0$1,939,293
86$4,053,619$148,080$0$2,044,748
87$4,358,000$46,248$0$2,159,914
88$4,689,992$0$0$2,285,838
89$5,052,303$0$0$2,446,927
90$5,447,913$0$0$2,641,267
91$5,880,105$0$0$2,853,690
92$6,352,489$0$0$3,085,984
93$6,869,045$0$0$3,340,121
94$7,434,149$0$0$3,618,270
95$8,052,625$0$0$3,922,820
96$8,729,782$0$0$4,256,402
97$9,471,466$0$0$4,621,913
98$10,284,116$0$0$5,022,544
99$11,174,823$0$0$5,461,809
100$12,151,396$0$0$5,943,579