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%13.3%
1 years$81,340$80,616$79,909$79,219$78,545$77,467
2 years$40,268$39,518$38,791$38,086$37,403$36,319
3 years$26,578$25,825$25,100$24,402$23,730$22,673
4 years$19,735$18,984$18,267$17,580$16,924$15,903
5 years$15,630$14,884$14,176$13,503$12,866$11,883
6 years$12,895$12,154$11,456$10,799$10,180$9,238
7 years$10,941$10,207$9,520$8,878$8,279$7,377
8 years$9,477$8,749$8,074$7,448$6,868$6,006
9 years$8,339$7,618$6,954$6,344$5,784$4,962
10 years$7,429$6,715$6,063$5,468$4,928$4,145
11 years$6,684$5,978$5,337$4,759$4,239$3,493
12 years$6,065$5,365$4,737$4,174$3,673$2,965
13 years$5,541$4,849$4,232$3,685$3,203$2,532
14 years$5,092$4,407$3,802$3,271$2,808$2,172
15 years$4,704$4,026$3,433$2,918$2,472$1,871
16 years$4,364$3,694$3,113$2,612$2,185$1,617
17 years$4,065$3,402$2,832$2,347$1,937$1,401
18 years$3,799$3,143$2,586$2,115$1,723$1,217
19 years$3,561$2,913$2,367$1,911$1,535$1,060
20 years$3,348$2,707$2,172$1,731$1,371$924
21 years$3,155$2,522$1,998$1,571$1,227$807
22 years$2,980$2,354$1,842$1,428$1,100$706
23 years$2,820$2,202$1,700$1,301$987$618
24 years$2,674$2,063$1,573$1,187$888$542
25 years$2,539$1,936$1,456$1,084$799$475
26 years$2,416$1,819$1,351$991$719$417
27 years$2,301$1,712$1,254$907$649$366
28 years$2,195$1,613$1,166$831$585$322
29 years$2,097$1,522$1,085$762$528$283
30 years$2,005$1,437$1,011$699$477$249
31 years$1,919$1,359$942$642$432$219
32 years$1,839$1,286$879$590$391$193
33 years$1,764$1,218$821$543$353$170
34 years$1,693$1,154$767$499$320$150
35 years$1,627$1,095$717$460$290$132
36 years$1,564$1,039$671$423$263$116
37 years$1,505$987$628$390$238$103
38 years$1,450$938$588$360$216$90
39 years$1,397$892$551$332$196$80
40 years$1,347$848$516$306$177$70
41 years$1,299$808$484$282$161$62
42 years$1,254$769$454$260$146$55
43 years$1,211$733$426$240$133$48
44 years$1,170$698$400$222$120$43
45 years$1,131$666$376$205$109$38
46 years$1,094$635$353$189$99$33
47 years$1,059$606$331$175$90$29
48 years$1,025$579$311$162$82$26
49 years$993$553$293$149$74$23
50 years$962$528$275$138$67$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $985,000, adding $4,777 every year, while hoping to spend $51,530 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: 49/21/30 Blend
63$985,000$985,000$985,000$985,000
64$1,090,397$1,038,192$1,022,925$1,134,308
65$1,146,790$1,034,236$1,002,365$1,161,715
66$1,207,209$1,028,359$979,390$1,186,043
67$1,272,008$1,020,413$953,864$1,211,493
68$1,341,579$1,010,240$925,644$1,238,199
69$1,416,351$997,672$894,584$1,266,309
70$1,496,794$982,534$860,529$1,295,990
71$1,583,426$964,637$823,315$1,327,431
72$1,676,814$943,783$782,775$1,360,842
73$1,777,582$919,761$738,731$1,396,458
74$1,886,415$892,349$690,998$1,434,543
75$2,004,066$861,310$639,382$1,475,391
76$2,131,362$826,395$583,683$1,519,333
77$2,269,213$787,341$523,688$1,566,736
78$2,418,618$743,867$459,178$1,618,010
79$2,580,679$695,678$389,922$1,673,613
80$2,756,604$642,461$315,680$1,734,054
81$2,947,723$583,887$236,200$1,799,902
82$3,155,499$519,606$151,222$1,871,789
83$3,381,542$449,249$60,470$1,950,417
84$3,627,624$372,427$0$2,036,569
85$3,895,692$288,727$0$2,142,759
86$4,187,893$197,714$0$2,279,723
87$4,506,585$98,929$0$2,429,254
88$4,854,366$0$0$2,592,650
89$5,234,097$0$0$2,773,215
90$5,648,925$0$0$2,995,541
91$6,102,316$0$0$3,238,638
92$6,598,083$0$0$3,504,563
93$7,140,430$0$0$3,795,584
94$7,733,979$0$0$4,114,195
95$8,383,826$0$0$4,463,147
96$9,095,577$0$0$4,845,464
97$9,875,411$0$0$5,264,480
98$10,730,128$0$0$5,723,867
99$11,667,220$0$0$6,227,667
100$12,694,937$0$0$6,780,333