Can I retire at age 64 with 975,000?

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 $975,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$80,515$79,797$79,098$78,415$77,748$76,840
2 years$39,859$39,116$38,397$37,699$37,023$36,109
3 years$26,309$25,563$24,845$24,154$23,489$22,597
4 years$19,535$18,791$18,081$17,402$16,752$15,890
5 years$15,472$14,733$14,032$13,366$12,735$11,905
6 years$12,764$12,030$11,340$10,689$10,077$9,279
7 years$10,830$10,103$9,423$8,788$8,195$7,431
8 years$9,381$8,660$7,992$7,372$6,799$6,067
9 years$8,254$7,540$6,883$6,279$5,725$5,027
10 years$7,353$6,646$6,001$5,413$4,878$4,212
11 years$6,617$5,917$5,283$4,711$4,196$3,561
12 years$6,003$5,311$4,689$4,132$3,636$3,033
13 years$5,485$4,799$4,189$3,648$3,170$2,598
14 years$5,040$4,362$3,764$3,238$2,779$2,236
15 years$4,656$3,985$3,398$2,888$2,447$1,932
16 years$4,320$3,656$3,081$2,586$2,163$1,676
17 years$4,023$3,367$2,804$2,323$1,918$1,457
18 years$3,760$3,112$2,559$2,094$1,705$1,271
19 years$3,525$2,884$2,343$1,892$1,520$1,110
20 years$3,314$2,680$2,150$1,714$1,357$972
21 years$3,123$2,496$1,978$1,555$1,215$852
22 years$2,949$2,330$1,823$1,414$1,089$748
23 years$2,791$2,179$1,683$1,288$977$657
24 years$2,647$2,042$1,557$1,174$879$578
25 years$2,514$1,916$1,442$1,073$791$509
26 years$2,391$1,801$1,337$981$712$449
27 years$2,278$1,695$1,242$898$642$396
28 years$2,173$1,597$1,154$822$579$349
29 years$2,076$1,507$1,074$754$523$308
30 years$1,985$1,423$1,000$692$473$273
31 years$1,900$1,345$933$636$427$241
32 years$1,820$1,273$870$584$387$213
33 years$1,746$1,205$813$537$350$188
34 years$1,676$1,142$759$494$317$167
35 years$1,610$1,083$710$455$287$147
36 years$1,549$1,028$664$419$260$130
37 years$1,490$977$622$386$236$115
38 years$1,435$928$582$356$214$102
39 years$1,383$883$545$328$194$91
40 years$1,333$840$511$303$176$80
41 years$1,286$799$479$279$159$71
42 years$1,241$761$450$258$145$63
43 years$1,199$725$422$238$131$56
44 years$1,158$691$396$220$119$49
45 years$1,120$659$372$203$108$44
46 years$1,083$629$349$187$98$39
47 years$1,048$600$328$173$89$34
48 years$1,015$573$308$160$81$30
49 years$983$547$290$148$74$27
50 years$952$523$272$137$67$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $975,000, adding $2,504 every year, while hoping to spend $33,978 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: 76/19/5 Blend
63$975,000$975,000$975,000$975,000
64$1,077,033$1,025,358$1,010,245$1,158,376
65$1,150,738$1,039,448$1,007,936$1,226,223
66$1,230,822$1,053,090$1,004,411$1,295,933
67$1,317,900$1,066,226$999,593$1,371,335
68$1,412,648$1,078,793$993,402$1,452,981
69$1,515,811$1,090,727$985,754$1,541,476
70$1,628,207$1,101,956$976,560$1,637,487
71$1,750,738$1,112,405$965,728$1,741,750
72$1,884,396$1,121,995$953,162$1,855,074
73$2,030,271$1,130,640$938,760$1,978,351
74$2,189,566$1,138,249$922,416$2,112,565
75$2,363,604$1,144,725$904,019$2,258,799
76$2,553,841$1,149,966$883,453$2,418,245
77$2,761,880$1,153,861$860,596$2,592,219
78$2,989,487$1,156,296$835,321$2,782,170
79$3,238,605$1,157,145$807,495$2,989,694
80$3,511,376$1,156,278$776,979$3,216,551
81$3,810,156$1,153,555$743,627$3,464,679
82$4,137,541$1,148,828$707,288$3,736,216
83$4,496,389$1,141,941$667,801$4,033,517
84$4,889,850$1,132,725$625,002$4,359,176
85$5,321,392$1,121,005$578,716$4,716,054
86$5,794,833$1,106,593$528,762$5,107,304
87$6,314,380$1,089,291$474,951$5,536,400
88$6,884,669$1,068,888$417,083$6,007,170
89$7,510,803$1,045,161$354,953$6,523,836
90$8,198,405$1,017,875$288,345$7,091,049
91$8,953,670$986,778$217,032$7,713,934
92$9,783,421$951,607$140,779$8,398,143
93$10,695,177$912,082$59,342$9,149,903
94$11,697,217$867,907$0$9,976,078
95$12,798,666$818,767$0$10,885,703
96$14,009,575$764,332$0$11,889,121
97$15,341,019$704,251$0$12,992,367
98$16,805,198$638,154$0$14,205,585
99$18,415,553$565,650$0$15,539,956
100$20,186,896$486,323$0$17,007,801