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%13.3%
1 years$78,450$77,751$77,070$76,404$75,754$74,715
2 years$38,837$38,113$37,412$36,733$36,073$35,028
3 years$25,634$24,908$24,208$23,535$22,887$21,868
4 years$19,034$18,310$17,617$16,956$16,323$15,338
5 years$15,075$14,355$13,672$13,024$12,408$11,461
6 years$12,436$11,722$11,049$10,415$9,818$8,909
7 years$10,552$9,844$9,182$8,563$7,985$7,115
8 years$9,140$8,438$7,787$7,183$6,624$5,793
9 years$8,042$7,347$6,707$6,118$5,579$4,785
10 years$7,165$6,476$5,847$5,274$4,753$3,998
11 years$6,447$5,765$5,148$4,590$4,088$3,369
12 years$5,849$5,175$4,568$4,026$3,543$2,860
13 years$5,344$4,676$4,082$3,554$3,089$2,442
14 years$4,911$4,251$3,667$3,155$2,708$2,095
15 years$4,536$3,883$3,311$2,814$2,384$1,804
16 years$4,209$3,563$3,002$2,520$2,107$1,559
17 years$3,920$3,281$2,732$2,264$1,868$1,351
18 years$3,664$3,032$2,494$2,040$1,661$1,174
19 years$3,435$2,810$2,283$1,843$1,481$1,022
20 years$3,229$2,611$2,095$1,670$1,323$891
21 years$3,043$2,432$1,927$1,515$1,184$778
22 years$2,874$2,270$1,776$1,378$1,061$681
23 years$2,720$2,123$1,640$1,255$952$596
24 years$2,579$1,989$1,517$1,144$856$522
25 years$2,449$1,867$1,405$1,045$770$458
26 years$2,330$1,755$1,303$956$694$402
27 years$2,220$1,651$1,210$875$626$353
28 years$2,117$1,556$1,125$801$564$311
29 years$2,022$1,468$1,047$735$510$273
30 years$1,934$1,386$975$674$461$240
31 years$1,851$1,311$909$619$416$211
32 years$1,774$1,240$848$569$377$186
33 years$1,701$1,174$792$523$341$164
34 years$1,633$1,113$740$482$309$144
35 years$1,569$1,056$692$443$280$127
36 years$1,509$1,002$647$408$253$112
37 years$1,452$952$606$376$230$99
38 years$1,398$904$567$347$208$87
39 years$1,347$860$531$320$189$77
40 years$1,299$818$498$295$171$68
41 years$1,253$779$467$272$155$60
42 years$1,209$742$438$251$141$53
43 years$1,168$707$411$232$128$46
44 years$1,129$674$386$214$116$41
45 years$1,091$642$362$198$105$36
46 years$1,055$613$340$183$96$32
47 years$1,021$585$320$169$87$28
48 years$989$558$300$156$79$25
49 years$957$533$282$144$72$22
50 years$928$509$265$133$65$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $950,000, adding $4,705 every year, while hoping to spend $52,354 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: 68/7/25 Blend
63$950,000$950,000$950,000$950,000
64$1,051,753$1,001,403$986,678$1,116,214
65$1,103,328$994,768$964,028$1,153,437
66$1,158,408$986,052$938,864$1,187,713
67$1,217,297$975,100$911,047$1,223,998
68$1,280,325$961,744$880,431$1,262,489
69$1,347,857$945,808$846,864$1,303,408
70$1,420,290$927,104$810,186$1,346,997
71$1,498,063$905,435$770,230$1,393,529
72$1,581,655$880,591$726,822$1,443,301
73$1,671,593$852,349$679,779$1,496,645
74$1,768,455$820,475$628,912$1,553,929
75$1,872,879$784,719$574,022$1,615,560
76$1,985,560$744,818$514,900$1,681,988
77$2,107,267$700,494$451,329$1,753,711
78$2,238,843$651,452$383,082$1,831,281
79$2,381,213$597,382$309,924$1,915,308
80$2,535,396$537,953$231,605$2,006,467
81$2,702,512$472,818$147,869$2,105,505
82$2,883,791$401,609$58,446$2,213,249
83$3,080,588$323,938$0$2,330,612
84$3,294,392$239,395$0$2,468,469
85$3,526,841$147,546$0$2,635,352
86$3,779,736$47,934$0$2,816,969
87$4,055,062$0$0$3,014,771
88$4,354,999$0$0$3,234,969
89$4,681,949$0$0$3,479,075
90$5,038,554$0$0$3,745,375
91$5,427,723$0$0$4,036,047
92$5,852,657$0$0$4,353,491
93$6,316,880$0$0$4,700,345
94$6,824,272$0$0$5,079,517
95$7,379,106$0$0$5,494,206
96$7,986,083$0$0$5,947,935
97$8,650,382$0$0$6,444,584
98$9,377,707$0$0$6,988,425
99$10,174,335$0$0$7,584,163
100$11,047,183$0$0$8,236,978