Can I retire at age 64 with 945,000?

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 $945,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$78,037$77,342$76,664$76,002$75,356$74,662
2 years$38,632$37,913$37,215$36,539$35,884$35,185
3 years$25,499$24,776$24,081$23,411$22,766$22,084
4 years$18,934$18,213$17,525$16,866$16,237$15,576
5 years$14,996$14,279$13,600$12,955$12,343$11,706
6 years$12,371$11,660$10,991$10,360$9,767$9,154
7 years$10,497$9,792$9,133$8,518$7,943$7,355
8 years$9,092$8,394$7,746$7,145$6,589$6,026
9 years$8,000$7,308$6,671$6,086$5,549$5,010
10 years$7,127$6,442$5,816$5,246$4,728$4,214
11 years$6,413$5,735$5,121$4,566$4,066$3,576
12 years$5,818$5,147$4,544$4,005$3,524$3,056
13 years$5,316$4,652$4,060$3,536$3,073$2,628
14 years$4,885$4,228$3,648$3,139$2,694$2,271
15 years$4,513$3,863$3,294$2,799$2,372$1,971
16 years$4,187$3,544$2,986$2,506$2,096$1,716
17 years$3,900$3,264$2,717$2,252$1,859$1,499
18 years$3,645$3,016$2,481$2,029$1,653$1,312
19 years$3,417$2,795$2,271$1,834$1,473$1,152
20 years$3,212$2,597$2,084$1,661$1,316$1,012
21 years$3,027$2,419$1,917$1,507$1,177$892
22 years$2,859$2,258$1,767$1,370$1,055$786
23 years$2,705$2,112$1,631$1,248$947$694
24 years$2,565$1,979$1,509$1,138$852$614
25 years$2,436$1,857$1,397$1,040$766$543
26 years$2,318$1,745$1,296$951$690$481
27 years$2,208$1,643$1,203$870$622$426
28 years$2,106$1,548$1,119$797$561$378
29 years$2,012$1,460$1,041$731$507$335
30 years$1,924$1,379$970$671$458$298
31 years$1,841$1,304$904$616$414$264
32 years$1,764$1,233$843$566$375$235
33 years$1,692$1,168$788$521$339$209
34 years$1,625$1,107$736$479$307$186
35 years$1,561$1,050$688$441$278$165
36 years$1,501$997$644$406$252$147
37 years$1,444$947$602$374$228$131
38 years$1,391$900$564$345$207$116
39 years$1,340$855$529$318$188$103
40 years$1,292$814$495$293$170$92
41 years$1,246$775$464$271$154$82
42 years$1,203$738$436$250$140$73
43 years$1,162$703$409$231$127$65
44 years$1,123$670$384$213$115$58
45 years$1,085$639$360$197$105$52
46 years$1,050$610$338$182$95$46
47 years$1,016$582$318$168$86$41
48 years$983$555$299$155$78$36
49 years$952$530$281$143$71$32
50 years$923$507$264$132$65$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $945,000, adding $2,151 every year, while hoping to spend $47,599 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: 78/13/9 Blend
63$945,000$945,000$945,000$945,000
64$1,043,609$993,524$978,876$1,123,384
65$1,099,412$991,561$961,024$1,174,124
66$1,159,312$987,908$940,978$1,223,390
67$1,223,676$982,429$918,615$1,276,034
68$1,292,907$974,985$893,805$1,332,371
69$1,367,450$965,425$866,413$1,392,749
70$1,447,789$953,591$836,298$1,457,551
71$1,534,461$939,314$803,311$1,527,201
72$1,628,051$922,415$767,297$1,602,164
73$1,729,205$902,707$728,095$1,682,955
74$1,838,633$879,988$685,535$1,770,139
75$1,957,113$854,047$639,440$1,864,343
76$2,085,503$824,660$589,625$1,966,254
77$2,224,745$791,589$535,898$2,076,633
78$2,375,875$754,582$478,056$2,196,317
79$2,540,032$713,375$415,889$2,326,231
80$2,718,471$667,686$349,177$2,467,393
81$2,912,570$617,218$277,690$2,620,927
82$3,123,847$561,656$201,187$2,788,072
83$3,353,971$500,669$119,419$2,970,196
84$3,604,780$433,906$32,124$3,168,805
85$3,878,296$360,996$0$3,385,562
86$4,176,744$281,546$0$3,628,161
87$4,502,574$195,144$0$3,896,437
88$4,858,482$101,352$0$4,189,558
89$5,247,438$0$0$4,510,014
90$5,672,708$0$0$4,860,589
91$6,137,892$0$0$5,259,956
92$6,646,952$0$0$5,697,022
93$7,204,250$0$0$6,175,535
94$7,814,590$0$0$6,699,626
95$8,483,264$0$0$7,273,840
96$9,216,098$0$0$7,903,187
97$10,019,508$0$0$8,593,180
98$10,900,562$0$0$9,349,894
99$11,867,045$0$0$10,180,020
100$12,927,529$0$0$11,090,927