Can I retire at age 64 with 979,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $979,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$80,845$80,125$79,422$78,736$78,067$76,211
2 years$40,022$39,277$38,554$37,854$37,175$35,315
3 years$26,416$25,668$24,947$24,253$23,585$21,781
4 years$19,615$18,869$18,155$17,473$16,821$15,086
5 years$15,535$14,793$14,089$13,421$12,787$11,126
6 years$12,816$12,080$11,386$10,733$10,118$8,532
7 years$10,875$10,145$9,462$8,824$8,229$6,718
8 years$9,419$8,696$8,024$7,402$6,826$5,391
9 years$8,288$7,571$6,911$6,305$5,749$4,388
10 years$7,383$6,674$6,026$5,435$4,898$3,610
11 years$6,644$5,941$5,305$4,730$4,213$2,995
12 years$6,028$5,332$4,708$4,149$3,651$2,501
13 years$5,507$4,819$4,206$3,663$3,183$2,100
14 years$5,061$4,380$3,779$3,252$2,791$1,772
15 years$4,675$4,002$3,412$2,900$2,457$1,500
16 years$4,337$3,671$3,094$2,596$2,172$1,273
17 years$4,040$3,381$2,815$2,333$1,925$1,084
18 years$3,776$3,124$2,570$2,102$1,712$925
19 years$3,540$2,896$2,353$1,900$1,526$790
20 years$3,327$2,691$2,159$1,721$1,363$676
21 years$3,136$2,506$1,986$1,562$1,220$580
22 years$2,961$2,340$1,830$1,420$1,093$497
23 years$2,803$2,188$1,690$1,293$981$427
24 years$2,657$2,050$1,563$1,179$882$367
25 years$2,524$1,924$1,448$1,077$794$316
26 years$2,401$1,808$1,343$985$715$272
27 years$2,287$1,702$1,247$901$645$234
28 years$2,182$1,604$1,159$826$582$201
29 years$2,084$1,513$1,079$757$525$174
30 years$1,993$1,429$1,005$695$475$150
31 years$1,908$1,351$937$638$429$129
32 years$1,828$1,278$874$587$388$111
33 years$1,753$1,210$816$539$351$96
34 years$1,683$1,147$762$496$318$83
35 years$1,617$1,088$713$457$288$71
36 years$1,555$1,033$667$421$261$62
37 years$1,496$981$624$388$237$53
38 years$1,441$932$584$357$214$46
39 years$1,388$886$548$330$194$40
40 years$1,338$843$513$304$176$34
41 years$1,291$803$481$280$160$29
42 years$1,246$764$451$259$145$25
43 years$1,204$728$424$239$132$22
44 years$1,163$694$398$221$120$19
45 years$1,125$662$373$204$109$16
46 years$1,088$632$351$188$99$14
47 years$1,052$603$329$174$90$12
48 years$1,019$575$310$161$81$11
49 years$987$549$291$148$74$9
50 years$956$525$274$137$67$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $979,000, adding $2,354 every year, while hoping to spend $58,863 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: 39/42/19 Blend
63$979,000$979,000$979,000$979,000
64$1,081,286$1,029,399$1,014,225$1,117,244
65$1,128,948$1,017,210$985,571$1,131,072
66$1,179,498$1,002,451$953,985$1,140,224
67$1,233,169$984,933$919,306$1,148,899
68$1,290,215$964,458$881,366$1,157,086
69$1,350,915$940,815$839,990$1,164,776
70$1,415,573$913,779$794,995$1,171,967
71$1,484,523$883,115$746,188$1,178,660
72$1,558,129$848,573$693,370$1,184,863
73$1,636,791$809,886$636,331$1,190,589
74$1,720,949$766,776$574,853$1,195,861
75$1,811,083$718,945$508,708$1,200,711
76$1,907,720$666,080$437,656$1,205,180
77$2,011,440$607,850$361,450$1,209,322
78$2,122,876$543,904$279,828$1,213,205
79$2,242,726$473,872$192,519$1,216,913
80$2,371,756$397,363$99,240$1,220,545
81$2,510,805$313,964$0$1,224,224
82$2,660,797$223,238$0$1,228,155
83$2,822,745$124,724$0$1,253,921
84$2,997,764$17,935$0$1,281,644
85$3,187,079$0$0$1,311,626
86$3,392,036$0$0$1,389,331
87$3,614,115$0$0$1,482,619
88$3,854,942$0$0$1,583,896
89$4,116,307$0$0$1,693,930
90$4,400,179$0$0$1,813,564
91$4,708,722$0$0$1,943,727
92$5,044,318$0$0$2,085,440
93$5,409,587$0$0$2,239,826
94$5,807,411$0$0$2,408,122
95$6,240,965$0$0$2,591,689
96$6,713,738$0$0$2,792,025
97$7,229,575$0$0$3,010,779
98$7,792,704$0$0$3,249,766
99$8,407,782$0$0$3,510,984
100$9,079,936$0$0$3,796,633