Can I retire at age 64 with 985,000?

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 $985,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$81,340$80,616$79,909$79,219$78,545$77,276
2 years$40,268$39,518$38,791$38,086$37,403$36,127
3 years$26,578$25,825$25,100$24,402$23,730$22,488
4 years$19,735$18,984$18,267$17,580$16,924$15,726
5 years$15,630$14,884$14,176$13,503$12,866$11,714
6 years$12,895$12,154$11,456$10,799$10,180$9,076
7 years$10,941$10,207$9,520$8,878$8,279$7,224
8 years$9,477$8,749$8,074$7,448$6,868$5,861
9 years$8,339$7,618$6,954$6,344$5,784$4,825
10 years$7,429$6,715$6,063$5,468$4,928$4,016
11 years$6,684$5,978$5,337$4,759$4,239$3,372
12 years$6,065$5,365$4,737$4,174$3,673$2,851
13 years$5,541$4,849$4,232$3,685$3,203$2,425
14 years$5,092$4,407$3,802$3,271$2,808$2,072
15 years$4,704$4,026$3,433$2,918$2,472$1,777
16 years$4,364$3,694$3,113$2,612$2,185$1,529
17 years$4,065$3,402$2,832$2,347$1,937$1,320
18 years$3,799$3,143$2,586$2,115$1,723$1,142
19 years$3,561$2,913$2,367$1,911$1,535$989
20 years$3,348$2,707$2,172$1,731$1,371$859
21 years$3,155$2,522$1,998$1,571$1,227$747
22 years$2,980$2,354$1,842$1,428$1,100$650
23 years$2,820$2,202$1,700$1,301$987$567
24 years$2,674$2,063$1,573$1,187$888$494
25 years$2,539$1,936$1,456$1,084$799$432
26 years$2,416$1,819$1,351$991$719$377
27 years$2,301$1,712$1,254$907$649$330
28 years$2,195$1,613$1,166$831$585$288
29 years$2,097$1,522$1,085$762$528$252
30 years$2,005$1,437$1,011$699$477$221
31 years$1,919$1,359$942$642$432$193
32 years$1,839$1,286$879$590$391$169
33 years$1,764$1,218$821$543$353$149
34 years$1,693$1,154$767$499$320$130
35 years$1,627$1,095$717$460$290$114
36 years$1,564$1,039$671$423$263$100
37 years$1,505$987$628$390$238$88
38 years$1,450$938$588$360$216$77
39 years$1,397$892$551$332$196$68
40 years$1,347$848$516$306$177$59
41 years$1,299$808$484$282$161$52
42 years$1,254$769$454$260$146$46
43 years$1,211$733$426$240$133$40
44 years$1,170$698$400$222$120$35
45 years$1,131$666$376$205$109$31
46 years$1,094$635$353$189$99$27
47 years$1,059$606$331$175$90$24
48 years$1,025$579$311$162$82$21
49 years$993$553$293$149$74$18
50 years$962$528$275$138$67$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $985,000, adding $6,274 every year, while hoping to spend $32,902 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: 32/42/26 Blend
63$985,000$985,000$985,000$985,000
64$1,091,942$1,039,737$1,024,469$1,118,034
65$1,168,312$1,055,676$1,023,781$1,154,372
66$1,251,370$1,071,294$1,021,968$1,190,123
67$1,341,762$1,086,540$1,018,956$1,227,977
68$1,440,201$1,101,359$1,014,670$1,268,141
69$1,547,470$1,115,695$1,009,030$1,310,843
70$1,664,432$1,129,484$1,001,953$1,356,340
71$1,792,037$1,142,662$993,351$1,404,913
72$1,931,329$1,155,156$983,133$1,456,874
73$2,083,459$1,166,893$971,202$1,512,571
74$2,249,693$1,177,792$957,459$1,572,388
75$2,431,425$1,187,767$941,797$1,636,751
76$2,630,189$1,196,727$924,106$1,706,130
77$2,847,677$1,204,575$904,272$1,781,049
78$3,085,749$1,211,208$882,174$1,862,086
79$3,346,453$1,216,515$857,685$1,949,881
80$3,632,047$1,220,380$830,673$2,045,143
81$3,945,016$1,222,679$801,001$2,148,656
82$4,288,096$1,223,279$768,523$2,261,290
83$4,664,303$1,222,040$733,089$2,384,003
84$5,076,955$1,218,813$694,540$2,517,860
85$5,529,709$1,213,440$652,713$2,664,036
86$6,026,595$1,205,754$607,434$2,823,831
87$6,572,047$1,195,575$558,522$2,998,683
88$7,170,954$1,182,717$505,791$3,190,182
89$7,828,699$1,166,978$449,043$3,400,085
90$8,551,212$1,148,146$388,072$3,630,336
91$9,345,028$1,125,997$322,664$3,883,081
92$10,217,343$1,100,293$252,596$4,160,695
93$11,176,086$1,070,782$177,632$4,465,798
94$12,229,994$1,037,196$97,529$4,801,289
95$13,388,689$999,255$12,032$5,170,369
96$14,662,775$956,658$0$5,576,574
97$16,063,934$909,090$0$6,045,783
98$17,605,035$856,216$0$6,565,327
99$19,300,261$797,682$0$7,136,708
100$21,165,234$733,115$0$7,765,271