Can I retire at age 64 with 986,000?

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 $986,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$81,423$80,698$79,990$79,299$78,625$75,775
2 years$40,308$39,558$38,830$38,125$37,440$34,600
3 years$26,605$25,851$25,126$24,427$23,754$21,013
4 years$19,755$19,004$18,285$17,598$16,941$14,321
5 years$15,646$14,899$14,190$13,517$12,879$10,385
6 years$12,908$12,166$11,468$10,810$10,190$7,826
7 years$10,952$10,217$9,530$8,887$8,288$6,051
8 years$9,487$8,758$8,082$7,455$6,875$4,765
9 years$8,347$7,625$6,961$6,350$5,790$3,803
10 years$7,436$6,721$6,069$5,474$4,933$3,067
11 years$6,691$5,984$5,343$4,764$4,243$2,492
12 years$6,071$5,371$4,742$4,179$3,677$2,038
13 years$5,546$4,853$4,236$3,689$3,206$1,675
14 years$5,097$4,412$3,806$3,275$2,811$1,382
15 years$4,708$4,030$3,437$2,921$2,475$1,144
16 years$4,368$3,698$3,116$2,615$2,187$949
17 years$4,069$3,405$2,835$2,350$1,939$789
18 years$3,803$3,147$2,588$2,117$1,724$657
19 years$3,565$2,916$2,369$1,913$1,537$548
20 years$3,351$2,710$2,174$1,733$1,373$458
21 years$3,158$2,524$2,000$1,573$1,228$383
22 years$2,983$2,356$1,843$1,430$1,101$320
23 years$2,823$2,204$1,702$1,302$988$268
24 years$2,676$2,065$1,574$1,188$888$225
25 years$2,542$1,938$1,458$1,085$799$188
26 years$2,418$1,821$1,352$992$720$158
27 years$2,304$1,714$1,256$908$649$133
28 years$2,198$1,615$1,167$832$586$111
29 years$2,099$1,524$1,086$763$529$93
30 years$2,007$1,439$1,012$700$478$78
31 years$1,921$1,360$943$643$432$66
32 years$1,841$1,287$880$591$391$55
33 years$1,766$1,219$822$543$354$46
34 years$1,695$1,155$768$500$320$39
35 years$1,629$1,096$718$460$290$33
36 years$1,566$1,040$672$424$263$28
37 years$1,507$988$629$391$238$23
38 years$1,451$939$589$360$216$19
39 years$1,398$893$551$332$196$16
40 years$1,348$849$517$306$178$14
41 years$1,300$808$485$282$161$12
42 years$1,255$770$455$261$146$10
43 years$1,212$734$427$241$133$8
44 years$1,172$699$400$222$120$7
45 years$1,133$667$376$205$109$6
46 years$1,095$636$353$190$99$5
47 years$1,060$607$332$175$90$4
48 years$1,026$579$312$162$82$3
49 years$994$553$293$150$74$3
50 years$963$529$276$138$68$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $986,000, adding $6,743 every year, while hoping to spend $41,090 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: 58/14/28 Blend
63$986,000$986,000$986,000$986,000
64$1,093,527$1,041,269$1,025,986$1,148,235
65$1,161,348$1,048,572$1,016,638$1,193,771
66$1,234,709$1,054,856$1,005,598$1,238,493
67$1,314,132$1,060,026$992,769$1,286,411
68$1,400,191$1,063,985$978,044$1,337,847
69$1,493,516$1,066,627$961,315$1,393,158
70$1,594,802$1,067,838$942,466$1,452,737
71$1,704,811$1,067,501$921,377$1,517,019
72$1,824,382$1,065,489$897,923$1,586,486
73$1,954,437$1,061,667$871,973$1,661,671
74$2,095,994$1,055,893$843,388$1,743,161
75$2,250,169$1,048,015$812,025$1,831,608
76$2,418,192$1,037,873$777,733$1,927,730
77$2,601,416$1,025,297$740,356$2,032,323
78$2,801,330$1,010,107$699,728$2,146,263
79$3,019,575$992,112$655,678$2,270,522
80$3,257,955$971,109$608,027$2,406,172
81$3,518,457$946,883$556,586$2,554,396
82$3,803,268$919,209$501,160$2,716,503
83$4,114,797$887,845$441,544$2,893,938
84$4,455,695$852,538$377,524$3,088,296
85$4,828,881$813,019$308,877$3,301,340
86$5,237,572$769,002$235,370$3,535,016
87$5,685,308$720,186$156,758$3,791,473
88$6,175,989$666,254$72,789$4,073,082
89$6,713,908$606,869$0$4,382,463
90$7,303,796$541,676$0$4,727,532
91$7,950,863$470,297$0$5,129,988
92$8,660,846$392,336$0$5,571,672
93$9,440,065$307,374$0$6,056,559
94$10,295,483$214,966$0$6,589,035
95$11,234,768$114,646$0$7,173,931
96$12,266,369$5,917$0$7,816,573
97$13,399,590$0$0$8,522,833
98$14,644,685$0$0$9,316,396
99$16,012,948$0$0$10,189,552
100$17,516,820$0$0$11,149,340