Can I retire at age 64 with 976,000?

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 $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%17.1%
1 years$80,597$79,879$79,179$78,495$77,828$75,579
2 years$39,900$39,156$38,436$37,738$37,061$34,813
3 years$26,336$25,589$24,871$24,179$23,513$21,336
4 years$19,555$18,811$18,100$17,420$16,770$14,681
5 years$15,487$14,748$14,046$13,380$12,748$10,754
6 years$12,777$12,043$11,351$10,700$10,087$8,188
7 years$10,841$10,113$9,433$8,797$8,203$6,400
8 years$9,390$8,669$8,000$7,380$6,806$5,097
9 years$8,262$7,548$6,890$6,286$5,731$4,116
10 years$7,361$6,653$6,007$5,418$4,883$3,359
11 years$6,623$5,923$5,289$4,716$4,200$2,763
12 years$6,009$5,316$4,693$4,136$3,639$2,288
13 years$5,490$4,804$4,193$3,652$3,174$1,905
14 years$5,046$4,367$3,768$3,242$2,782$1,592
15 years$4,661$3,989$3,402$2,891$2,450$1,336
16 years$4,324$3,660$3,084$2,589$2,165$1,124
17 years$4,027$3,371$2,806$2,326$1,920$948
18 years$3,764$3,115$2,562$2,096$1,707$801
19 years$3,529$2,887$2,345$1,894$1,521$678
20 years$3,317$2,682$2,152$1,715$1,359$574
21 years$3,126$2,499$1,980$1,557$1,216$487
22 years$2,952$2,332$1,825$1,415$1,090$414
23 years$2,794$2,181$1,685$1,289$978$352
24 years$2,649$2,044$1,558$1,176$879$299
25 years$2,516$1,918$1,443$1,074$791$255
26 years$2,394$1,803$1,338$982$713$217
27 years$2,280$1,697$1,243$899$643$185
28 years$2,175$1,599$1,155$823$580$157
29 years$2,078$1,508$1,075$755$524$134
30 years$1,987$1,424$1,002$693$473$114
31 years$1,902$1,346$934$636$428$98
32 years$1,822$1,274$871$585$387$83
33 years$1,748$1,206$813$538$350$71
34 years$1,678$1,143$760$495$317$61
35 years$1,612$1,085$711$456$287$52
36 years$1,550$1,029$665$420$260$44
37 years$1,492$978$622$387$236$38
38 years$1,436$929$583$356$214$32
39 years$1,384$884$546$329$194$27
40 years$1,334$841$512$303$176$23
41 years$1,287$800$480$280$160$20
42 years$1,243$762$450$258$145$17
43 years$1,200$726$422$238$131$15
44 years$1,160$692$396$220$119$12
45 years$1,121$660$372$203$108$11
46 years$1,084$630$350$188$98$9
47 years$1,049$601$328$173$89$8
48 years$1,016$574$309$160$81$7
49 years$984$548$290$148$74$6
50 years$953$523$273$137$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $976,000, adding $4,389 every year, while hoping to spend $55,494 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: 66/7/27 Blend
63$976,000$976,000$976,000$976,000
64$1,080,079$1,028,351$1,013,223$1,143,449
65$1,131,202$1,019,695$988,121$1,178,064
66$1,185,680$1,008,755$960,318$1,209,273
67$1,243,795$995,361$929,665$1,242,158
68$1,305,860$979,331$896,006$1,276,887
69$1,372,214$960,474$859,179$1,313,649
70$1,443,230$938,588$819,012$1,352,654
71$1,519,318$913,457$775,327$1,394,132
72$1,600,927$884,855$727,939$1,438,343
73$1,688,549$852,540$676,652$1,485,572
74$1,782,725$816,259$621,264$1,536,139
75$1,884,048$775,740$561,561$1,590,394
76$1,993,170$730,700$497,322$1,648,730
77$2,110,805$680,837$428,315$1,711,580
78$2,237,742$625,833$354,298$1,779,426
79$2,374,842$565,349$275,018$1,852,799
80$2,523,055$499,031$190,210$1,932,292
81$2,683,425$426,501$99,600$2,018,558
82$2,857,097$347,362$2,899$2,112,322
83$3,045,332$261,195$0$2,214,387
84$3,249,518$167,554$0$2,354,535
85$3,471,177$65,973$0$2,507,625
86$3,711,987$0$0$2,674,003
87$3,973,792$0$0$2,858,365
88$4,258,622$0$0$3,064,523
89$4,568,708$0$0$3,289,021
90$4,906,508$0$0$3,533,642
91$5,274,726$0$0$3,800,352
92$5,676,335$0$0$4,091,315
93$6,114,612$0$0$4,408,911
94$6,593,161$0$0$4,755,760
95$7,115,950$0$0$5,134,748
96$7,687,347$0$0$5,549,051
97$8,312,162$0$0$6,002,165
98$8,995,690$0$0$6,497,941
99$9,743,763$0$0$7,040,618
100$10,562,800$0$0$7,634,864