Can I retire at age 64 with 949,000?

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 $949,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$78,368$77,669$76,988$76,324$75,675$74,729
2 years$38,796$38,073$37,373$36,694$36,036$35,084
3 years$25,607$24,881$24,183$23,510$22,862$21,935
4 years$19,014$18,290$17,599$16,938$16,306$15,409
5 years$15,059$14,340$13,657$13,010$12,395$11,532
6 years$12,423$11,710$11,037$10,404$9,808$8,979
7 years$10,541$9,834$9,172$8,554$7,977$7,182
8 years$9,131$8,429$7,779$7,176$6,617$5,858
9 years$8,034$7,339$6,700$6,112$5,573$4,848
10 years$7,157$6,469$5,841$5,269$4,748$4,057
11 years$6,440$5,759$5,142$4,585$4,084$3,426
12 years$5,843$5,169$4,564$4,022$3,539$2,913
13 years$5,338$4,671$4,077$3,551$3,086$2,492
14 years$4,906$4,246$3,663$3,152$2,705$2,142
15 years$4,532$3,879$3,308$2,811$2,382$1,849
16 years$4,204$3,559$2,999$2,517$2,105$1,601
17 years$3,916$3,278$2,729$2,261$1,866$1,391
18 years$3,660$3,029$2,491$2,038$1,660$1,211
19 years$3,431$2,807$2,280$1,842$1,479$1,056
20 years$3,225$2,608$2,093$1,668$1,321$923
21 years$3,039$2,430$1,925$1,514$1,182$808
22 years$2,871$2,268$1,774$1,376$1,060$708
23 years$2,717$2,121$1,638$1,253$951$622
24 years$2,576$1,987$1,515$1,143$855$546
25 years$2,447$1,865$1,403$1,044$769$480
26 years$2,327$1,753$1,301$955$693$423
27 years$2,217$1,650$1,209$874$625$372
28 years$2,115$1,554$1,123$801$564$328
29 years$2,020$1,466$1,045$734$509$289
30 years$1,932$1,385$974$674$460$255
31 years$1,849$1,309$908$619$416$225
32 years$1,772$1,239$847$569$376$198
33 years$1,700$1,173$791$523$340$175
34 years$1,632$1,112$739$481$308$155
35 years$1,568$1,055$691$443$279$137
36 years$1,507$1,001$646$408$253$121
37 years$1,450$951$605$376$229$107
38 years$1,397$903$566$346$208$94
39 years$1,346$859$531$319$189$83
40 years$1,297$817$497$295$171$74
41 years$1,252$778$466$272$155$65
42 years$1,208$741$438$251$141$58
43 years$1,167$706$411$232$128$51
44 years$1,128$673$385$214$116$45
45 years$1,090$642$362$197$105$40
46 years$1,054$612$340$182$96$35
47 years$1,020$584$319$169$87$31
48 years$988$558$300$156$79$28
49 years$956$533$282$144$72$24
50 years$927$509$265$133$65$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $949,000, adding $2,058 every year, while hoping to spend $21,797 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: 88/5/7 Blend
63$949,000$949,000$949,000$949,000
64$1,047,921$997,624$982,914$1,139,465
65$1,131,617$1,023,316$992,650$1,225,076
66$1,223,119$1,049,536$1,001,982$1,315,931
67$1,323,202$1,076,287$1,010,872$1,415,104
68$1,432,715$1,103,572$1,019,283$1,523,419
69$1,552,597$1,131,392$1,027,174$1,641,781
70$1,683,880$1,159,748$1,034,502$1,771,190
71$1,827,700$1,188,640$1,041,223$1,912,744
72$1,985,311$1,218,069$1,047,289$2,067,653
73$2,158,090$1,248,031$1,052,650$2,237,253
74$2,347,556$1,278,526$1,057,255$2,423,011
75$2,555,382$1,309,549$1,061,048$2,626,545
76$2,783,410$1,341,096$1,063,972$2,849,638
77$3,033,669$1,373,161$1,065,967$3,094,252
78$3,308,395$1,405,737$1,066,968$3,362,552
79$3,610,049$1,438,817$1,066,910$3,656,918
80$3,941,345$1,472,389$1,065,722$3,979,977
81$4,305,269$1,506,444$1,063,331$4,334,619
82$4,705,114$1,540,967$1,059,660$4,724,032
83$5,144,505$1,575,944$1,054,628$5,151,723
84$5,627,438$1,611,358$1,048,151$5,621,561
85$6,158,312$1,647,190$1,040,140$6,137,806
86$6,741,978$1,683,420$1,030,502$6,705,153
87$7,383,776$1,720,024$1,019,140$7,328,774
88$8,089,592$1,756,976$1,005,952$8,014,367
89$8,865,910$1,794,248$990,832$8,768,211
90$9,719,875$1,831,808$973,667$9,597,226
91$10,659,358$1,869,623$954,341$10,509,035
92$11,693,033$1,907,654$932,731$11,512,037
93$12,830,454$1,945,861$908,710$12,615,488
94$14,082,152$1,984,200$882,142$13,829,588
95$15,459,726$2,022,621$852,889$15,165,573
96$16,975,961$2,061,072$820,804$16,635,828
97$18,644,942$2,099,497$785,733$18,253,997
98$20,482,187$2,137,833$747,517$20,035,117
99$22,504,799$2,176,016$705,987$21,995,755
100$24,731,619$2,213,972$660,969$24,154,169