Can I retire at age 64 with 920,000?

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 $920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$75,973$75,296$74,636$73,991$73,362$72,808
2 years$37,610$36,910$36,231$35,573$34,934$34,376
3 years$24,824$24,121$23,444$22,792$22,164$21,618
4 years$18,433$17,731$17,061$16,420$15,807$15,279
5 years$14,599$13,902$13,240$12,612$12,017$11,506
6 years$12,044$11,352$10,700$10,086$9,508$9,017
7 years$10,219$9,533$8,892$8,292$7,733$7,261
8 years$8,852$8,172$7,541$6,956$6,415$5,963
9 years$7,788$7,115$6,495$5,925$5,402$4,969
10 years$6,938$6,271$5,662$5,108$4,603$4,189
11 years$6,243$5,583$4,985$4,445$3,959$3,564
12 years$5,664$5,011$4,424$3,899$3,431$3,054
13 years$5,175$4,529$3,953$3,442$2,992$2,633
14 years$4,756$4,116$3,552$3,056$2,622$2,281
15 years$4,393$3,760$3,207$2,725$2,309$1,985
16 years$4,076$3,450$2,907$2,440$2,041$1,733
17 years$3,796$3,177$2,645$2,192$1,809$1,518
18 years$3,548$2,936$2,415$1,976$1,609$1,333
19 years$3,326$2,721$2,211$1,785$1,434$1,173
20 years$3,127$2,529$2,029$1,617$1,281$1,034
21 years$2,947$2,355$1,866$1,467$1,146$913
22 years$2,783$2,199$1,720$1,334$1,027$808
23 years$2,634$2,056$1,588$1,215$922$716
24 years$2,497$1,927$1,469$1,108$829$634
25 years$2,372$1,808$1,360$1,012$746$563
26 years$2,256$1,699$1,262$925$672$500
27 years$2,150$1,599$1,172$847$606$445
28 years$2,050$1,507$1,089$776$547$396
29 years$1,958$1,422$1,014$712$494$352
30 years$1,873$1,343$944$653$446$314
31 years$1,793$1,269$880$600$403$279
32 years$1,718$1,201$821$551$365$249
33 years$1,648$1,137$767$507$330$222
34 years$1,582$1,078$716$466$299$198
35 years$1,520$1,022$670$429$271$177
36 years$1,461$970$627$395$245$158
37 years$1,406$922$586$364$222$141
38 years$1,354$876$549$336$202$126
39 years$1,305$833$515$310$183$112
40 years$1,258$792$482$286$166$100
41 years$1,213$754$452$264$150$90
42 years$1,171$718$424$243$136$80
43 years$1,131$684$398$224$124$72
44 years$1,093$652$374$207$112$64
45 years$1,057$622$351$191$102$57
46 years$1,022$593$330$177$93$51
47 years$989$566$310$163$84$46
48 years$957$541$291$151$76$41
49 years$927$516$273$140$69$36
50 years$898$493$257$129$63$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $920,000, adding $6,025 every year, while hoping to spend $59,329 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: 38/46/16 Blend
63$920,000$920,000$920,000$920,000
64$1,020,055$971,295$957,035$1,053,688
65$1,060,975$955,763$925,970$1,062,814
66$1,104,080$937,481$891,876$1,066,538
67$1,149,531$916,252$854,588$1,069,298
68$1,197,503$891,868$813,936$1,071,039
69$1,248,185$864,106$769,740$1,071,704
70$1,301,785$832,733$721,812$1,071,235
71$1,358,531$797,501$669,956$1,069,577
72$1,418,670$758,147$613,969$1,066,672
73$1,482,472$714,394$553,634$1,062,466
74$1,550,234$665,949$488,731$1,056,902
75$1,622,278$612,501$419,024$1,049,930
76$1,698,960$553,723$344,271$1,041,498
77$1,780,667$489,268$264,216$1,031,559
78$1,867,822$418,770$178,595$1,020,072
79$1,960,891$341,841$87,130$1,006,999
80$2,060,384$258,073$0$992,307
81$2,166,859$167,035$0$977,761
82$2,280,928$68,269$0$977,548
83$2,403,264$0$0$976,825
84$2,534,602$0$0$995,248
85$2,675,753$0$0$1,052,273
86$2,827,603$0$0$1,113,713
87$2,991,128$0$0$1,179,974
88$3,167,399$0$0$1,251,502
89$3,357,592$0$0$1,328,789
90$3,562,998$0$0$1,412,372
91$3,785,038$0$0$1,502,844
92$4,025,273$0$0$1,600,855
93$4,285,417$0$0$1,707,123
94$4,567,358$0$0$1,822,435
95$4,873,168$0$0$1,947,655
96$5,205,130$0$0$2,083,736
97$5,565,751$0$0$2,231,727
98$5,957,790$0$0$2,392,779
99$6,384,284$0$0$2,568,162
100$6,848,573$0$0$2,759,270