Can I retire at age 64 with 976,000?

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 $976,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$80,597$79,879$79,179$78,495$77,828$77,402
2 years$39,900$39,156$38,436$37,738$37,061$36,631
3 years$26,336$25,589$24,871$24,179$23,513$23,093
4 years$19,555$18,811$18,100$17,420$16,770$16,362
5 years$15,487$14,748$14,046$13,380$12,748$12,355
6 years$12,777$12,043$11,351$10,700$10,087$9,708
7 years$10,841$10,113$9,433$8,797$8,203$7,839
8 years$9,390$8,669$8,000$7,380$6,806$6,456
9 years$8,262$7,548$6,890$6,286$5,731$5,396
10 years$7,361$6,653$6,007$5,418$4,883$4,562
11 years$6,623$5,923$5,289$4,716$4,200$3,893
12 years$6,009$5,316$4,693$4,136$3,639$3,346
13 years$5,490$4,804$4,193$3,652$3,174$2,894
14 years$5,046$4,367$3,768$3,242$2,782$2,516
15 years$4,661$3,989$3,402$2,891$2,450$2,196
16 years$4,324$3,660$3,084$2,589$2,165$1,924
17 years$4,027$3,371$2,806$2,326$1,920$1,691
18 years$3,764$3,115$2,562$2,096$1,707$1,490
19 years$3,529$2,887$2,345$1,894$1,521$1,316
20 years$3,317$2,682$2,152$1,715$1,359$1,165
21 years$3,126$2,499$1,980$1,557$1,216$1,033
22 years$2,952$2,332$1,825$1,415$1,090$917
23 years$2,794$2,181$1,685$1,289$978$815
24 years$2,649$2,044$1,558$1,176$879$725
25 years$2,516$1,918$1,443$1,074$791$646
26 years$2,394$1,803$1,338$982$713$576
27 years$2,280$1,697$1,243$899$643$514
28 years$2,175$1,599$1,155$823$580$459
29 years$2,078$1,508$1,075$755$524$411
30 years$1,987$1,424$1,002$693$473$367
31 years$1,902$1,346$934$636$428$328
32 years$1,822$1,274$871$585$387$294
33 years$1,748$1,206$813$538$350$263
34 years$1,678$1,143$760$495$317$236
35 years$1,612$1,085$711$456$287$211
36 years$1,550$1,029$665$420$260$189
37 years$1,492$978$622$387$236$170
38 years$1,436$929$583$356$214$152
39 years$1,384$884$546$329$194$137
40 years$1,334$841$512$303$176$122
41 years$1,287$800$480$280$160$110
42 years$1,243$762$450$258$145$99
43 years$1,200$726$422$238$131$88
44 years$1,160$692$396$220$119$79
45 years$1,121$660$372$203$108$71
46 years$1,084$630$350$188$98$64
47 years$1,049$601$328$173$89$57
48 years$1,016$574$309$160$81$52
49 years$984$548$290$148$74$46
50 years$953$523$273$137$67$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $976,000, adding $3,844 every year, while hoping to spend $28,262 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: 76/13/11 Blend
63$976,000$976,000$976,000$976,000
64$1,079,517$1,027,789$1,012,661$1,159,054
65$1,159,557$1,048,080$1,016,515$1,232,275
66$1,246,814$1,068,418$1,019,550$1,308,556
67$1,341,995$1,088,776$1,021,710$1,391,379
68$1,445,875$1,109,123$1,022,935$1,481,383
69$1,559,312$1,129,428$1,023,161$1,579,275
70$1,683,248$1,149,656$1,022,322$1,685,830
71$1,818,718$1,169,768$1,020,349$1,801,905
72$1,966,866$1,189,725$1,017,169$1,928,441
73$2,128,948$1,209,483$1,012,706$2,066,478
74$2,306,348$1,228,995$1,006,879$2,217,159
75$2,500,591$1,248,211$999,605$2,381,744
76$2,713,354$1,267,077$990,795$2,561,623
77$2,946,488$1,285,535$980,358$2,758,324
78$3,202,027$1,303,524$968,197$2,973,534
79$3,482,213$1,320,976$954,211$3,209,109
80$3,789,516$1,337,821$938,295$3,467,097
81$4,126,655$1,353,983$920,336$3,749,753
82$4,496,627$1,369,381$900,221$4,059,561
83$4,902,731$1,383,929$877,826$4,399,260
84$5,348,603$1,397,534$853,026$4,771,867
85$5,838,245$1,410,099$825,688$5,180,707
86$6,376,070$1,421,517$795,672$5,629,446
87$6,966,937$1,431,679$762,835$6,122,120
88$7,616,198$1,440,464$727,023$6,663,180
89$8,329,750$1,447,747$688,078$7,257,529
90$9,114,090$1,453,393$645,835$7,910,572
91$9,976,377$1,457,259$600,120$8,628,265
92$10,924,495$1,459,192$550,752$9,417,170
93$11,967,133$1,459,032$497,541$10,284,520
94$13,113,863$1,456,607$440,291$11,238,288
95$14,375,231$1,451,734$378,795$12,287,257
96$15,762,857$1,444,221$312,836$13,441,109
97$17,289,543$1,433,863$242,191$14,710,512
98$18,969,395$1,420,441$166,624$16,107,224
99$20,817,957$1,403,726$85,889$17,644,205
100$22,852,352$1,383,473$0$19,335,733