Can I retire at age 64 with 980,000?

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 $980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$80,927$80,207$79,503$78,817$78,147$75,888
2 years$40,063$39,317$38,594$37,893$37,213$34,955
3 years$26,443$25,694$24,973$24,278$23,609$21,424
4 years$19,635$18,888$18,174$17,491$16,838$14,741
5 years$15,551$14,808$14,104$13,435$12,800$10,798
6 years$12,829$12,092$11,398$10,744$10,128$8,222
7 years$10,886$10,155$9,472$8,833$8,237$6,427
8 years$9,429$8,705$8,033$7,410$6,833$5,118
9 years$8,296$7,579$6,919$6,312$5,755$4,133
10 years$7,391$6,680$6,032$5,441$4,903$3,372
11 years$6,650$5,947$5,310$4,735$4,217$2,775
12 years$6,034$5,338$4,713$4,153$3,654$2,298
13 years$5,513$4,824$4,211$3,667$3,187$1,913
14 years$5,066$4,385$3,783$3,255$2,793$1,599
15 years$4,680$4,006$3,416$2,903$2,460$1,341
16 years$4,342$3,675$3,097$2,599$2,174$1,128
17 years$4,044$3,385$2,818$2,335$1,927$952
18 years$3,779$3,128$2,572$2,105$1,714$804
19 years$3,543$2,899$2,355$1,902$1,528$680
20 years$3,331$2,693$2,161$1,722$1,364$577
21 years$3,139$2,509$1,988$1,563$1,221$489
22 years$2,964$2,342$1,832$1,421$1,094$416
23 years$2,806$2,190$1,692$1,294$982$353
24 years$2,660$2,052$1,565$1,181$883$300
25 years$2,527$1,926$1,449$1,078$795$256
26 years$2,403$1,810$1,344$986$716$218
27 years$2,290$1,703$1,248$902$645$185
28 years$2,184$1,605$1,160$827$582$158
29 years$2,086$1,514$1,080$758$526$135
30 years$1,995$1,430$1,006$696$475$115
31 years$1,910$1,352$938$639$430$98
32 years$1,830$1,279$875$587$389$84
33 years$1,755$1,211$817$540$352$71
34 years$1,685$1,148$763$497$318$61
35 years$1,619$1,089$713$457$288$52
36 years$1,556$1,034$667$421$261$44
37 years$1,498$982$625$388$237$38
38 years$1,442$933$585$358$215$32
39 years$1,390$887$548$330$195$28
40 years$1,340$844$514$304$177$24
41 years$1,293$803$482$281$160$20
42 years$1,248$765$452$259$145$17
43 years$1,205$729$424$239$132$15
44 years$1,164$695$398$221$120$13
45 years$1,126$663$374$204$109$11
46 years$1,089$632$351$188$99$9
47 years$1,054$603$330$174$90$8
48 years$1,020$576$310$161$81$7
49 years$988$550$291$149$74$6
50 years$957$525$274$137$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $980,000, adding $6,144 every year, while hoping to spend $23,946 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: 72/22/6 Blend
63$980,000$980,000$980,000$980,000
64$1,086,298$1,034,358$1,019,168$1,163,273
65$1,171,622$1,059,563$1,027,831$1,240,070
66$1,264,846$1,085,200$1,035,983$1,320,529
67$1,366,752$1,111,266$1,043,579$1,407,943
68$1,478,197$1,137,756$1,050,577$1,502,990
69$1,600,130$1,164,662$1,056,927$1,606,415
70$1,733,591$1,191,979$1,062,582$1,719,042
71$1,879,728$1,219,696$1,067,490$1,841,774
72$2,039,805$1,247,805$1,071,594$1,975,610
73$2,215,211$1,276,295$1,074,840$2,121,647
74$2,407,481$1,305,151$1,077,165$2,281,094
75$2,618,302$1,334,361$1,078,507$2,455,283
76$2,849,531$1,363,908$1,078,800$2,645,681
77$3,103,218$1,393,773$1,077,974$2,853,905
78$3,381,615$1,423,938$1,075,956$3,081,733
79$3,687,209$1,454,379$1,072,669$3,331,128
80$4,022,733$1,485,073$1,068,033$3,604,250
81$4,391,204$1,515,993$1,061,963$3,903,479
82$4,795,940$1,547,110$1,054,373$4,231,437
83$5,240,599$1,578,392$1,045,168$4,591,013
84$5,729,211$1,609,805$1,034,252$4,985,391
85$6,266,215$1,641,309$1,021,523$5,418,077
86$6,856,501$1,672,865$1,006,876$5,892,936
87$7,505,457$1,704,428$990,199$6,414,226
88$8,219,018$1,735,950$971,376$6,986,639
89$9,003,725$1,767,378$950,284$7,615,343
90$9,866,782$1,798,657$926,796$8,306,035
91$10,816,129$1,829,726$900,778$9,064,991
92$11,860,511$1,860,520$872,091$9,899,129
93$13,009,566$1,890,969$840,590$10,816,069
94$14,273,913$1,920,997$806,120$11,824,209
95$15,665,249$1,950,523$768,522$12,932,804
96$17,196,467$1,979,461$727,631$14,152,052
97$18,881,771$2,007,719$683,270$15,493,190
98$20,736,810$2,035,195$635,258$16,968,603
99$22,778,829$2,061,785$583,404$18,591,936
100$25,026,831$2,087,374$527,509$20,378,229