Can I retire at age 64 with 976,000?

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 $976,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$80,597$79,879$79,179$78,495$77,828$77,337
2 years$39,900$39,156$38,436$37,738$37,061$36,566
3 years$26,336$25,589$24,871$24,179$23,513$23,029
4 years$19,555$18,811$18,100$17,420$16,770$16,301
5 years$15,487$14,748$14,046$13,380$12,748$12,295
6 years$12,777$12,043$11,351$10,700$10,087$9,651
7 years$10,841$10,113$9,433$8,797$8,203$7,784
8 years$9,390$8,669$8,000$7,380$6,806$6,403
9 years$8,262$7,548$6,890$6,286$5,731$5,346
10 years$7,361$6,653$6,007$5,418$4,883$4,515
11 years$6,623$5,923$5,289$4,716$4,200$3,848
12 years$6,009$5,316$4,693$4,136$3,639$3,303
13 years$5,490$4,804$4,193$3,652$3,174$2,853
14 years$5,046$4,367$3,768$3,242$2,782$2,477
15 years$4,661$3,989$3,402$2,891$2,450$2,160
16 years$4,324$3,660$3,084$2,589$2,165$1,890
17 years$4,027$3,371$2,806$2,326$1,920$1,658
18 years$3,764$3,115$2,562$2,096$1,707$1,459
19 years$3,529$2,887$2,345$1,894$1,521$1,287
20 years$3,317$2,682$2,152$1,715$1,359$1,137
21 years$3,126$2,499$1,980$1,557$1,216$1,007
22 years$2,952$2,332$1,825$1,415$1,090$892
23 years$2,794$2,181$1,685$1,289$978$792
24 years$2,649$2,044$1,558$1,176$879$704
25 years$2,516$1,918$1,443$1,074$791$626
26 years$2,394$1,803$1,338$982$713$558
27 years$2,280$1,697$1,243$899$643$497
28 years$2,175$1,599$1,155$823$580$443
29 years$2,078$1,508$1,075$755$524$395
30 years$1,987$1,424$1,002$693$473$353
31 years$1,902$1,346$934$636$428$315
32 years$1,822$1,274$871$585$387$282
33 years$1,748$1,206$813$538$350$252
34 years$1,678$1,143$760$495$317$225
35 years$1,612$1,085$711$456$287$201
36 years$1,550$1,029$665$420$260$180
37 years$1,492$978$622$387$236$161
38 years$1,436$929$583$356$214$144
39 years$1,384$884$546$329$194$129
40 years$1,334$841$512$303$176$116
41 years$1,287$800$480$280$160$104
42 years$1,243$762$450$258$145$93
43 years$1,200$726$422$238$131$83
44 years$1,160$692$396$220$119$75
45 years$1,121$660$372$203$108$67
46 years$1,084$630$350$188$98$60
47 years$1,049$601$328$173$89$54
48 years$1,016$574$309$160$81$48
49 years$984$548$290$148$74$43
50 years$953$523$273$137$67$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $976,000, adding $3,008 every year, while hoping to spend $28,233 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: 58/23/19 Blend
63$976,000$976,000$976,000$976,000
64$1,078,655$1,026,927$1,011,799$1,135,643
65$1,158,638$1,047,206$1,015,654$1,194,960
66$1,245,833$1,067,534$1,018,693$1,256,266
67$1,340,946$1,087,881$1,020,857$1,322,467
68$1,444,754$1,108,218$1,022,087$1,394,042
69$1,558,111$1,128,514$1,022,319$1,471,518
70$1,681,960$1,148,732$1,021,489$1,555,475
71$1,817,336$1,168,836$1,019,525$1,646,552
72$1,965,381$1,188,786$1,016,356$1,745,455
73$2,127,351$1,208,538$1,011,905$1,852,961
74$2,304,629$1,228,044$1,006,092$1,969,928
75$2,498,739$1,247,256$998,833$2,097,301
76$2,711,357$1,266,118$990,041$2,236,122
77$2,944,332$1,284,574$979,624$2,387,539
78$3,199,697$1,302,562$967,484$2,552,820
79$3,479,693$1,320,014$953,522$2,733,360
80$3,786,788$1,336,861$937,631$2,930,699
81$4,123,700$1,353,027$919,701$3,146,535
82$4,493,423$1,368,431$899,617$3,382,739
83$4,899,254$1,382,986$877,256$3,641,374
84$5,344,826$1,396,601$852,493$3,924,715
85$5,834,141$1,409,177$825,194$4,235,270
86$6,371,607$1,420,610$795,221$4,575,805
87$6,962,079$1,430,788$762,429$4,949,367
88$7,610,907$1,439,592$726,667$5,359,317
89$8,323,985$1,446,897$687,775$5,809,362
90$9,107,804$1,452,569$645,589$6,303,585
91$9,969,519$1,456,463$599,934$6,846,491
92$10,917,009$1,458,429$550,631$7,443,045
93$11,958,957$1,458,305$497,491$8,098,719
94$13,104,928$1,455,920$440,314$8,819,549
95$14,365,463$1,451,092$378,897$9,612,186
96$15,752,173$1,443,628$313,023$10,483,963
97$17,277,852$1,433,324$242,467$11,442,966
98$18,956,598$1,419,962$166,995$12,498,105
99$20,803,943$1,403,312$86,361$13,659,205
100$22,837,001$1,383,129$309$14,937,097