Can I retire at age 64 with 972,000?

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 $972,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$80,267$79,552$78,854$78,173$77,509$76,763
2 years$39,736$38,996$38,279$37,583$36,909$36,158
3 years$26,228$25,484$24,769$24,080$23,417$22,683
4 years$19,475$18,734$18,025$17,348$16,701$15,991
5 years$15,424$14,687$13,988$13,325$12,696$12,011
6 years$12,724$11,993$11,305$10,656$10,046$9,388
7 years$10,797$10,072$9,394$8,761$8,170$7,539
8 years$9,352$8,634$7,967$7,349$6,778$6,173
9 years$8,229$7,517$6,862$6,260$5,708$5,130
10 years$7,330$6,626$5,983$5,396$4,863$4,311
11 years$6,596$5,899$5,267$4,696$4,183$3,656
12 years$5,985$5,294$4,674$4,119$3,625$3,123
13 years$5,468$4,785$4,176$3,637$3,161$2,684
14 years$5,025$4,349$3,752$3,228$2,771$2,318
15 years$4,641$3,973$3,388$2,879$2,439$2,010
16 years$4,306$3,645$3,072$2,578$2,156$1,749
17 years$4,011$3,357$2,795$2,316$1,912$1,526
18 years$3,749$3,102$2,551$2,087$1,700$1,336
19 years$3,514$2,875$2,336$1,886$1,515$1,171
20 years$3,304$2,671$2,144$1,708$1,353$1,029
21 years$3,113$2,488$1,972$1,550$1,211$905
22 years$2,940$2,323$1,817$1,410$1,086$798
23 years$2,783$2,172$1,678$1,284$974$704
24 years$2,638$2,035$1,552$1,171$876$622
25 years$2,506$1,910$1,437$1,069$788$550
26 years$2,384$1,795$1,333$978$710$486
27 years$2,271$1,690$1,238$895$640$431
28 years$2,166$1,592$1,151$820$578$382
29 years$2,069$1,502$1,071$752$521$338
30 years$1,979$1,418$997$690$471$300
31 years$1,894$1,341$930$634$426$266
32 years$1,815$1,269$868$582$385$236
33 years$1,741$1,202$810$536$349$210
34 years$1,671$1,139$757$493$316$186
35 years$1,606$1,080$708$454$286$166
36 years$1,544$1,025$662$418$259$147
37 years$1,485$974$620$385$235$131
38 years$1,430$925$580$355$213$116
39 years$1,378$880$544$327$193$104
40 years$1,329$837$510$302$175$92
41 years$1,282$797$478$278$159$82
42 years$1,237$759$448$257$144$73
43 years$1,195$723$421$237$131$65
44 years$1,155$689$395$219$119$58
45 years$1,116$657$371$202$108$51
46 years$1,080$627$348$187$98$46
47 years$1,045$598$327$173$89$41
48 years$1,012$571$307$159$81$36
49 years$980$545$289$147$73$32
50 years$949$521$272$136$67$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $972,000, adding $6,630 every year, while hoping to spend $20,351 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: 56/29/15 Blend
63$972,000$972,000$972,000$972,000
64$1,077,983$1,026,467$1,011,401$1,133,776
65$1,166,284$1,055,110$1,023,629$1,201,054
66$1,262,909$1,084,475$1,035,586$1,271,522
67$1,368,687$1,114,576$1,047,239$1,347,817
68$1,484,529$1,145,425$1,058,557$1,430,499
69$1,611,437$1,177,038$1,069,505$1,520,189
70$1,750,518$1,209,427$1,080,048$1,617,565
71$1,902,989$1,242,607$1,090,148$1,723,378
72$2,070,191$1,276,592$1,099,764$1,838,453
73$2,253,599$1,311,394$1,108,855$1,963,699
74$2,454,841$1,347,027$1,117,377$2,100,118
75$2,675,708$1,383,504$1,125,282$2,248,810
76$2,918,174$1,420,839$1,132,522$2,410,992
77$3,184,411$1,459,044$1,139,045$2,587,999
78$3,476,815$1,498,131$1,144,797$2,781,305
79$3,798,023$1,538,113$1,149,722$2,992,533
80$4,150,942$1,579,001$1,153,758$3,223,471
81$4,538,773$1,620,806$1,156,843$3,476,088
82$4,965,041$1,663,539$1,158,911$3,752,553
83$5,433,634$1,707,211$1,159,893$4,055,257
84$5,948,831$1,751,831$1,159,715$4,386,832
85$6,515,348$1,797,407$1,158,303$4,750,181
86$7,138,382$1,843,949$1,155,574$5,148,500
87$7,823,657$1,891,462$1,151,446$5,585,311
88$8,577,481$1,939,955$1,145,830$6,064,495
89$9,406,803$1,989,431$1,138,634$6,590,328
90$10,319,280$2,039,897$1,129,762$7,167,522
91$11,323,348$2,091,354$1,119,111$7,801,269
92$12,428,304$2,143,804$1,106,575$8,497,288
93$13,644,390$2,197,249$1,092,044$9,261,885
94$14,982,890$2,251,687$1,075,400$10,102,005
95$16,456,242$2,307,116$1,056,523$11,025,303
96$18,078,145$2,363,532$1,035,283$12,040,214
97$19,863,699$2,420,928$1,011,548$13,156,032
98$21,829,539$2,479,296$985,178$14,383,000
99$23,993,997$2,538,626$956,026$15,732,405
100$26,377,271$2,598,906$923,939$17,216,684