Can I retire at age 64 with 974,000?

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 $974,000?

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$80,432$79,716$79,017$78,334$77,668$75,212
2 years$39,818$39,076$38,358$37,661$36,985$34,533
3 years$26,282$25,537$24,820$24,130$23,465$21,093
4 years$19,515$18,772$18,063$17,384$16,735$14,463
5 years$15,456$14,718$14,017$13,353$12,722$10,555
6 years$12,751$12,018$11,328$10,678$10,066$8,006
7 years$10,819$10,093$9,414$8,779$8,187$6,233
8 years$9,371$8,651$7,984$7,365$6,792$4,943
9 years$8,246$7,533$6,876$6,273$5,720$3,975
10 years$7,346$6,640$5,995$5,407$4,873$3,229
11 years$6,610$5,911$5,278$4,706$4,191$2,645
12 years$5,997$5,305$4,684$4,128$3,632$2,180
13 years$5,479$4,794$4,185$3,644$3,167$1,806
14 years$5,035$4,358$3,760$3,235$2,776$1,503
15 years$4,651$3,981$3,395$2,885$2,445$1,254
16 years$4,315$3,653$3,078$2,583$2,160$1,050
17 years$4,019$3,364$2,801$2,321$1,916$881
18 years$3,756$3,108$2,557$2,092$1,703$740
19 years$3,521$2,881$2,341$1,890$1,518$623
20 years$3,310$2,677$2,148$1,712$1,356$525
21 years$3,120$2,494$1,976$1,554$1,214$443
22 years$2,946$2,328$1,821$1,413$1,088$375
23 years$2,788$2,177$1,681$1,286$976$317
24 years$2,644$2,040$1,555$1,173$878$268
25 years$2,511$1,914$1,440$1,072$790$227
26 years$2,389$1,799$1,336$980$711$192
27 years$2,276$1,693$1,240$897$641$163
28 years$2,171$1,595$1,153$822$579$138
29 years$2,073$1,505$1,073$753$523$117
30 years$1,983$1,421$999$691$472$99
31 years$1,898$1,344$932$635$427$84
32 years$1,819$1,271$869$584$386$71
33 years$1,744$1,204$812$537$349$60
34 years$1,674$1,141$758$494$316$51
35 years$1,609$1,082$709$455$287$43
36 years$1,547$1,027$663$419$260$37
37 years$1,489$976$621$386$235$31
38 years$1,433$927$581$356$213$27
39 years$1,381$882$545$328$193$23
40 years$1,332$839$511$302$175$19
41 years$1,285$799$479$279$159$16
42 years$1,240$761$449$257$144$14
43 years$1,198$725$421$238$131$12
44 years$1,157$691$396$219$119$10
45 years$1,119$659$371$203$108$8
46 years$1,082$628$349$187$98$7
47 years$1,047$600$328$173$89$6
48 years$1,014$572$308$160$81$5
49 years$982$547$289$148$73$4
50 years$951$522$272$137$67$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $974,000, adding $3,476 every year, while hoping to spend $36,071 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: 55/30/15 Blend
63$974,000$974,000$974,000$974,000
64$1,076,933$1,025,311$1,010,214$1,131,732
65$1,148,401$1,037,172$1,005,677$1,181,260
66$1,225,950$1,048,406$999,779$1,230,974
67$1,310,162$1,058,942$992,437$1,284,287
68$1,401,677$1,068,709$983,562$1,341,550
69$1,501,199$1,077,627$973,063$1,403,150
70$1,609,505$1,085,614$960,843$1,469,517
71$1,727,446$1,092,580$946,803$1,541,123
72$1,855,960$1,098,432$930,836$1,618,492
73$1,996,081$1,103,068$912,832$1,702,202
74$2,148,945$1,106,382$892,675$1,792,888
75$2,315,803$1,108,260$870,245$1,891,255
76$2,498,031$1,108,582$845,415$1,998,081
77$2,697,147$1,107,219$818,053$2,114,223
78$2,914,818$1,104,035$788,020$2,240,629
79$3,152,883$1,098,885$755,172$2,378,344
80$3,413,364$1,091,618$719,357$2,528,524
81$3,698,488$1,082,069$680,417$2,692,442
82$4,010,710$1,070,066$638,187$2,871,507
83$4,352,730$1,055,427$592,494$3,067,270
84$4,727,524$1,037,958$543,158$3,281,447
85$5,138,367$1,017,453$489,989$3,515,929
86$5,588,868$993,696$432,792$3,772,804
87$6,083,002$966,456$371,359$4,054,378
88$6,625,145$935,490$305,477$4,363,194
89$7,220,119$900,539$234,920$4,702,058
90$7,873,237$861,330$159,455$5,074,068
91$8,590,347$817,575$78,836$5,482,640
92$9,377,894$768,969$0$5,931,545
93$10,242,979$715,187$0$6,426,095
94$11,193,421$655,890$0$6,983,269
95$12,237,836$590,714$0$7,595,543
96$13,385,716$519,281$0$8,268,550
97$14,647,518$441,184$0$9,008,501
98$16,034,763$356,000$0$9,822,244
99$17,560,142$263,277$0$10,717,330
100$19,237,639$162,541$0$11,702,085