Can I retire at age 64 with 942,000?

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 $942,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$77,789$77,097$76,421$75,761$75,116$73,570
2 years$38,510$37,792$37,097$36,423$35,770$34,218
3 years$25,418$24,698$24,004$23,337$22,694$21,186
4 years$18,874$18,155$17,469$16,813$16,185$14,733
5 years$14,948$14,234$13,557$12,914$12,304$10,912
6 years$12,332$11,623$10,956$10,327$9,736$8,404
7 years$10,464$9,761$9,104$8,491$7,918$6,648
8 years$9,063$8,367$7,721$7,123$6,568$5,360
9 years$7,975$7,285$6,650$6,067$5,532$4,383
10 years$7,104$6,421$5,798$5,230$4,713$3,623
11 years$6,393$5,717$5,104$4,551$4,054$3,021
12 years$5,800$5,131$4,530$3,992$3,513$2,537
13 years$5,299$4,637$4,047$3,525$3,063$2,142
14 years$4,870$4,215$3,636$3,129$2,685$1,816
15 years$4,498$3,850$3,283$2,790$2,364$1,546
16 years$4,173$3,533$2,977$2,498$2,089$1,320
17 years$3,887$3,253$2,709$2,245$1,853$1,131
18 years$3,633$3,006$2,473$2,023$1,647$970
19 years$3,406$2,786$2,264$1,828$1,468$834
20 years$3,202$2,589$2,077$1,656$1,312$718
21 years$3,017$2,412$1,911$1,503$1,174$619
22 years$2,850$2,251$1,761$1,366$1,052$535
23 years$2,697$2,105$1,626$1,244$944$462
24 years$2,557$1,973$1,504$1,135$849$399
25 years$2,429$1,851$1,393$1,036$764$346
26 years$2,310$1,740$1,292$948$688$299
27 years$2,201$1,637$1,200$867$620$259
28 years$2,100$1,543$1,115$795$560$225
29 years$2,005$1,456$1,038$729$505$195
30 years$1,918$1,375$967$669$457$169
31 years$1,836$1,299$901$614$413$147
32 years$1,759$1,230$841$564$373$127
33 years$1,687$1,164$785$519$338$111
34 years$1,619$1,104$734$478$306$96
35 years$1,556$1,047$686$440$277$83
36 years$1,496$994$642$405$251$73
37 years$1,440$944$600$373$228$63
38 years$1,386$897$562$344$206$55
39 years$1,336$853$527$317$187$48
40 years$1,288$811$494$292$170$41
41 years$1,242$772$463$270$154$36
42 years$1,199$736$434$249$140$31
43 years$1,158$701$408$230$127$27
44 years$1,119$668$383$212$115$24
45 years$1,082$637$359$196$104$21
46 years$1,047$608$337$181$95$18
47 years$1,013$580$317$167$86$16
48 years$980$554$298$155$78$13
49 years$949$529$280$143$71$12
50 years$920$505$263$132$65$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $942,000, adding $2,575 every year, while hoping to spend $31,367 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: 70/6/24 Blend
63$942,000$942,000$942,000$942,000
64$1,040,740$990,814$976,213$1,107,110
65$1,113,521$1,005,990$975,542$1,167,010
66$1,192,675$1,020,858$973,797$1,228,659
67$1,278,818$1,035,370$970,909$1,295,396
68$1,372,629$1,049,474$966,806$1,367,724
69$1,474,855$1,063,116$961,412$1,446,197
70$1,586,317$1,076,237$954,647$1,531,425
71$1,707,922$1,088,772$946,428$1,624,082
72$1,840,663$1,100,656$936,666$1,724,910
73$1,985,638$1,111,815$925,272$1,834,727
74$2,144,054$1,122,174$912,149$1,954,437
75$2,317,237$1,131,651$897,196$2,085,033
76$2,506,652$1,140,159$880,309$2,227,612
77$2,713,909$1,147,605$861,378$2,383,385
78$2,940,781$1,153,890$840,286$2,553,683
79$3,189,220$1,158,910$816,915$2,739,978
80$3,461,377$1,162,553$791,139$2,943,889
81$3,759,619$1,164,701$762,824$3,167,204
82$4,086,556$1,165,227$731,835$3,411,891
83$4,445,060$1,163,998$698,026$3,680,124
84$4,838,293$1,160,871$661,247$3,974,296
85$5,269,741$1,155,696$621,341$4,297,048
86$5,743,242$1,148,312$578,143$4,651,288
87$6,263,024$1,138,551$531,482$5,040,226
88$6,833,744$1,126,231$481,178$5,467,397
89$7,460,531$1,111,162$427,043$5,936,702
90$8,149,038$1,093,141$368,882$6,452,438
91$8,905,490$1,071,955$306,489$7,019,343
92$9,736,745$1,047,376$239,652$7,642,642
93$10,650,360$1,019,164$168,147$8,328,093
94$11,654,658$987,064$91,741$9,082,043
95$12,758,810$950,808$10,191$9,911,489
96$13,972,920$910,109$0$10,824,145
97$15,308,119$864,666$0$11,848,190
98$16,776,673$814,160$0$12,977,383
99$18,392,094$758,254$0$14,219,515
100$20,169,270$696,590$0$15,586,048