Can I retire at age 64 with 897,000?

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 $897,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$74,073$73,414$72,770$72,142$71,528$71,167
2 years$36,670$35,987$35,325$34,683$34,061$33,696
3 years$24,204$23,518$22,858$22,222$21,610$21,253
4 years$17,972$17,288$16,635$16,010$15,412$15,066
5 years$14,234$13,554$12,909$12,297$11,716$11,382
6 years$11,743$11,068$10,432$9,834$9,271$8,949
7 years$9,964$9,295$8,669$8,085$7,539$7,230
8 years$8,630$7,967$7,352$6,782$6,255$5,957
9 years$7,594$6,937$6,333$5,777$5,267$4,982
10 years$6,765$6,115$5,521$4,980$4,488$4,215
11 years$6,087$5,444$4,861$4,334$3,860$3,599
12 years$5,523$4,886$4,314$3,802$3,345$3,096
13 years$5,046$4,415$3,854$3,356$2,917$2,679
14 years$4,637$4,013$3,463$2,979$2,557$2,330
15 years$4,283$3,666$3,126$2,657$2,251$2,036
16 years$3,974$3,364$2,835$2,379$1,990$1,785
17 years$3,701$3,098$2,579$2,138$1,764$1,570
18 years$3,459$2,863$2,355$1,926$1,569$1,384
19 years$3,243$2,653$2,156$1,741$1,398$1,223
20 years$3,049$2,465$1,978$1,576$1,249$1,083
21 years$2,873$2,296$1,820$1,431$1,118$961
22 years$2,713$2,144$1,677$1,301$1,002$854
23 years$2,568$2,005$1,548$1,185$899$760
24 years$2,435$1,878$1,432$1,081$808$677
25 years$2,313$1,763$1,326$987$727$603
26 years$2,200$1,657$1,230$902$655$538
27 years$2,096$1,559$1,142$826$591$481
28 years$1,999$1,469$1,062$757$533$430
29 years$1,909$1,386$988$694$481$385
30 years$1,826$1,309$920$637$435$344
31 years$1,748$1,237$858$585$393$308
32 years$1,675$1,171$801$538$356$276
33 years$1,606$1,109$748$494$322$247
34 years$1,542$1,051$698$455$291$222
35 years$1,482$997$653$419$264$199
36 years$1,425$946$611$386$239$178
37 years$1,371$899$572$355$217$160
38 years$1,320$854$535$327$196$144
39 years$1,272$812$502$302$178$129
40 years$1,226$773$470$278$162$116
41 years$1,183$735$441$257$147$104
42 years$1,142$700$414$237$133$93
43 years$1,103$667$388$219$121$84
44 years$1,066$636$364$202$110$75
45 years$1,030$607$342$187$99$68
46 years$997$579$321$172$90$61
47 years$964$552$302$159$82$55
48 years$933$527$284$147$74$49
49 years$904$503$267$136$68$44
50 years$876$481$251$126$61$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $897,000, adding $4,897 every year, while hoping to spend $58,985 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: 62/10/28 Blend
63$897,000$897,000$897,000$897,000
64$993,545$946,004$932,101$1,047,405
65$1,032,127$929,599$900,567$1,068,177
66$1,072,668$910,413$865,999$1,084,013
67$1,115,304$888,247$828,234$1,100,048
68$1,160,186$862,892$787,101$1,116,314
69$1,207,476$834,125$742,420$1,132,845
70$1,257,352$801,710$694,004$1,149,685
71$1,310,006$765,399$641,658$1,166,882
72$1,365,650$724,927$585,177$1,184,495
73$1,424,514$680,015$524,347$1,202,589
74$1,486,848$630,369$458,946$1,221,241
75$1,552,926$575,677$388,741$1,240,538
76$1,623,049$515,610$313,488$1,260,580
77$1,697,543$449,818$232,933$1,281,480
78$1,776,768$377,934$146,812$1,303,370
79$1,861,115$299,570$54,847$1,326,395
80$1,951,013$214,314$0$1,350,723
81$2,046,933$121,732$0$1,389,477
82$2,149,390$21,366$0$1,448,264
83$2,258,948$0$0$1,511,013
84$2,376,227$0$0$1,587,697
85$2,501,903$0$0$1,672,435
86$2,636,723$0$0$1,763,385
87$2,781,503$0$0$1,861,103
88$2,937,139$0$0$1,966,201
89$3,104,615$0$0$2,079,349
90$3,285,012$0$0$2,201,286
91$3,479,518$0$0$2,332,820
92$3,689,435$0$0$2,474,841
93$3,916,196$0$0$2,628,327
94$4,161,376$0$0$2,794,351
95$4,426,704$0$0$2,974,095
96$4,714,084$0$0$3,168,856
97$5,025,605$0$0$3,380,062
98$5,363,569$0$0$3,609,283
99$5,730,503$0$0$3,858,244
100$6,129,189$0$0$4,128,846