Can I retire at age 64 with 946,000?

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 $946,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$78,120$77,424$76,745$76,082$75,435$73,732
2 years$38,673$37,953$37,255$36,578$35,922$34,214
3 years$25,526$24,803$24,106$23,436$22,790$21,132
4 years$18,954$18,233$17,543$16,884$16,254$14,659
5 years$15,011$14,295$13,614$12,969$12,356$10,828
6 years$12,384$11,673$11,002$10,371$9,777$8,317
7 years$10,508$9,803$9,143$8,527$7,951$6,560
8 years$9,102$8,403$7,754$7,153$6,596$5,274
9 years$8,008$7,316$6,679$6,093$5,555$4,300
10 years$7,134$6,449$5,822$5,252$4,733$3,544
11 years$6,420$5,741$5,126$4,571$4,071$2,946
12 years$5,825$5,153$4,549$4,009$3,528$2,465
13 years$5,321$4,657$4,064$3,539$3,076$2,074
14 years$4,890$4,233$3,652$3,142$2,697$1,753
15 years$4,517$3,867$3,297$2,802$2,374$1,487
16 years$4,191$3,548$2,989$2,509$2,098$1,266
17 years$3,904$3,267$2,720$2,254$1,861$1,080
18 years$3,648$3,019$2,483$2,032$1,654$923
19 years$3,420$2,798$2,273$1,836$1,475$791
20 years$3,215$2,600$2,086$1,663$1,317$678
21 years$3,030$2,422$1,919$1,509$1,179$583
22 years$2,862$2,261$1,769$1,372$1,056$501
23 years$2,708$2,114$1,633$1,249$948$431
24 years$2,568$1,981$1,510$1,140$852$371
25 years$2,439$1,859$1,399$1,041$767$320
26 years$2,320$1,747$1,297$952$691$276
27 years$2,210$1,644$1,205$871$623$238
28 years$2,108$1,549$1,120$798$562$206
29 years$2,014$1,462$1,042$732$508$178
30 years$1,926$1,380$971$672$459$154
31 years$1,843$1,305$905$617$415$133
32 years$1,766$1,235$844$567$375$115
33 years$1,694$1,169$788$521$339$99
34 years$1,626$1,108$737$480$307$86
35 years$1,563$1,051$689$442$278$74
36 years$1,502$998$644$407$252$64
37 years$1,446$948$603$375$229$56
38 years$1,392$901$565$345$207$48
39 years$1,341$856$529$318$188$42
40 years$1,293$815$496$294$170$36
41 years$1,248$776$465$271$155$31
42 years$1,204$739$436$250$140$27
43 years$1,163$704$409$231$127$23
44 years$1,124$671$384$213$116$20
45 years$1,087$640$361$197$105$17
46 years$1,051$610$339$182$95$15
47 years$1,017$582$318$168$87$13
48 years$984$556$299$155$79$11
49 years$953$531$281$143$71$10
50 years$924$507$264$133$65$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $946,000, adding $6,452 every year, while hoping to spend $44,746 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: 62/31/7 Blend
63$946,000$946,000$946,000$946,000
64$1,049,147$999,009$984,346$1,112,362
65$1,108,551$1,000,351$969,712$1,156,710
66$1,172,514$1,000,259$953,089$1,199,301
67$1,241,454$998,616$934,361$1,244,639
68$1,315,831$995,297$913,411$1,292,990
69$1,396,148$990,168$890,112$1,344,646
70$1,482,960$983,091$864,336$1,399,930
71$1,576,875$973,916$835,944$1,459,200
72$1,678,563$962,485$804,795$1,522,853
73$1,788,760$948,630$770,739$1,591,325
74$1,908,275$932,175$733,621$1,665,102
75$2,037,999$912,930$693,276$1,744,717
76$2,178,908$890,698$649,535$1,830,763
77$2,332,082$865,267$602,219$1,923,895
78$2,498,703$836,414$551,142$2,024,835
79$2,680,075$803,902$496,110$2,134,383
80$2,877,632$767,483$436,918$2,253,423
81$3,092,951$726,890$373,356$2,382,932
82$3,327,770$681,846$305,202$2,523,990
83$3,584,000$632,053$232,223$2,677,790
84$3,863,744$577,200$154,178$2,845,650
85$4,169,318$516,956$70,816$3,029,028
86$4,503,273$450,970$0$3,229,532
87$4,868,414$378,876$0$3,450,296
88$5,267,833$300,281$0$3,697,662
89$5,704,932$214,775$0$3,968,525
90$6,183,458$121,922$0$4,265,305
91$6,707,538$21,263$0$4,590,671
92$7,281,714$0$0$4,947,571
93$7,910,992$0$0$5,369,168
94$8,600,883$0$0$5,839,396
95$9,357,455$0$0$6,355,149
96$10,187,396$0$0$6,920,993
97$11,098,068$0$0$7,541,958
98$12,097,582$0$0$8,223,585
99$13,194,874$0$0$8,971,977
100$14,399,785$0$0$9,793,857