Can I retire at age 64 with 950,000?

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 $950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$78,450$77,751$77,070$76,404$75,754$73,536
2 years$38,837$38,113$37,412$36,733$36,073$33,856
3 years$25,634$24,908$24,208$23,535$22,887$20,740
4 years$19,034$18,310$17,617$16,956$16,323$14,264
5 years$15,075$14,355$13,672$13,024$12,408$10,442
6 years$12,436$11,722$11,049$10,415$9,818$7,947
7 years$10,552$9,844$9,182$8,563$7,985$6,208
8 years$9,140$8,438$7,787$7,183$6,624$4,941
9 years$8,042$7,347$6,707$6,118$5,579$3,987
10 years$7,165$6,476$5,847$5,274$4,753$3,252
11 years$6,447$5,765$5,148$4,590$4,088$2,674
12 years$5,849$5,175$4,568$4,026$3,543$2,213
13 years$5,344$4,676$4,082$3,554$3,089$1,841
14 years$4,911$4,251$3,667$3,155$2,708$1,538
15 years$4,536$3,883$3,311$2,814$2,384$1,289
16 years$4,209$3,563$3,002$2,520$2,107$1,084
17 years$3,920$3,281$2,732$2,264$1,868$913
18 years$3,664$3,032$2,494$2,040$1,661$771
19 years$3,435$2,810$2,283$1,843$1,481$652
20 years$3,229$2,611$2,095$1,670$1,323$552
21 years$3,043$2,432$1,927$1,515$1,184$468
22 years$2,874$2,270$1,776$1,378$1,061$397
23 years$2,720$2,123$1,640$1,255$952$337
24 years$2,579$1,989$1,517$1,144$856$287
25 years$2,449$1,867$1,405$1,045$770$244
26 years$2,330$1,755$1,303$956$694$207
27 years$2,220$1,651$1,210$875$626$177
28 years$2,117$1,556$1,125$801$564$150
29 years$2,022$1,468$1,047$735$510$128
30 years$1,934$1,386$975$674$461$109
31 years$1,851$1,311$909$619$416$93
32 years$1,774$1,240$848$569$377$79
33 years$1,701$1,174$792$523$341$68
34 years$1,633$1,113$740$482$309$58
35 years$1,569$1,056$692$443$280$49
36 years$1,509$1,002$647$408$253$42
37 years$1,452$952$606$376$230$36
38 years$1,398$904$567$347$208$30
39 years$1,347$860$531$320$189$26
40 years$1,299$818$498$295$171$22
41 years$1,253$779$467$272$155$19
42 years$1,209$742$438$251$141$16
43 years$1,168$707$411$232$128$14
44 years$1,129$674$386$214$116$12
45 years$1,091$642$362$198$105$10
46 years$1,055$613$340$183$96$9
47 years$1,021$585$320$169$87$7
48 years$989$558$300$156$79$6
49 years$957$533$282$144$72$5
50 years$928$509$265$133$65$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $950,000, adding $3,815 every year, while hoping to spend $35,227 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: 45/33/22 Blend
63$950,000$950,000$950,000$950,000
64$1,050,835$1,000,485$985,760$1,091,306
65$1,120,539$1,012,028$981,302$1,131,730
66$1,196,172$1,022,955$975,514$1,171,785
67$1,278,302$1,033,200$968,314$1,214,508
68$1,367,553$1,042,691$959,616$1,260,162
69$1,464,611$1,051,351$949,331$1,309,043
70$1,570,233$1,059,099$937,366$1,361,475
71$1,685,250$1,065,848$923,620$1,417,819
72$1,810,576$1,071,505$907,992$1,478,472
73$1,947,219$1,075,973$890,374$1,543,875
74$2,096,286$1,079,146$870,652$1,614,517
75$2,258,997$1,080,914$848,709$1,690,937
76$2,436,695$1,081,159$824,421$1,773,731
77$2,630,857$1,079,755$797,658$1,863,561
78$2,843,111$1,076,569$768,286$1,961,155
79$3,075,248$1,071,461$736,163$2,067,322
80$3,329,240$1,064,279$701,141$2,182,954
81$3,607,259$1,054,865$663,066$2,309,039
82$3,911,697$1,043,051$621,776$2,446,666
83$4,245,187$1,028,658$577,103$2,597,043
84$4,610,630$1,011,496$528,870$2,761,502
85$5,011,219$991,364$476,892$2,941,515
86$5,450,474$968,051$420,978$3,138,710
87$5,932,268$941,331$360,927$3,354,885
88$6,460,869$910,966$296,527$3,592,027
89$7,040,978$876,704$227,561$3,852,329
90$7,677,772$838,277$153,799$4,138,214
91$8,376,956$795,404$75,003$4,452,361
92$9,144,813$747,786$0$4,797,723
93$9,988,263$695,107$0$5,179,698
94$10,914,931$637,032$0$5,618,685
95$11,933,218$573,210$0$6,101,102
96$13,052,375$503,267$0$6,631,407
97$14,282,599$426,809$0$7,214,520
98$15,635,121$343,419$0$7,855,865
99$17,122,314$252,658$0$8,561,427
100$18,757,812$154,060$0$9,337,803