Can I retire at age 64 with 987,000?

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 $987,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$81,506$80,780$80,071$79,380$78,705$76,369
2 years$40,349$39,598$38,870$38,163$37,478$35,144
3 years$26,632$25,878$25,151$24,452$23,778$21,519
4 years$19,775$19,023$18,304$17,616$16,959$14,792
5 years$15,662$14,914$14,204$13,531$12,892$10,823
6 years$12,921$12,178$11,479$10,821$10,201$8,232
7 years$10,963$10,227$9,539$8,896$8,296$6,427
8 years$9,496$8,767$8,090$7,463$6,882$5,113
9 years$8,356$7,633$6,968$6,357$5,796$4,123
10 years$7,444$6,728$6,075$5,480$4,938$3,360
11 years$6,698$5,990$5,348$4,769$4,247$2,761
12 years$6,077$5,376$4,746$4,183$3,680$2,284
13 years$5,552$4,858$4,241$3,693$3,209$1,898
14 years$5,102$4,416$3,810$3,278$2,813$1,585
15 years$4,713$4,034$3,440$2,924$2,477$1,328
16 years$4,373$3,701$3,119$2,618$2,189$1,115
17 years$4,073$3,409$2,838$2,352$1,941$939
18 years$3,806$3,150$2,591$2,120$1,726$792
19 years$3,568$2,919$2,372$1,915$1,538$670
20 years$3,355$2,713$2,177$1,735$1,374$567
21 years$3,161$2,527$2,002$1,574$1,230$480
22 years$2,986$2,359$1,845$1,431$1,102$407
23 years$2,826$2,206$1,704$1,304$989$345
24 years$2,679$2,067$1,576$1,189$889$293
25 years$2,545$1,940$1,459$1,086$800$249
26 years$2,421$1,823$1,354$993$721$212
27 years$2,306$1,716$1,257$909$650$180
28 years$2,200$1,617$1,168$833$586$153
29 years$2,101$1,525$1,087$764$530$130
30 years$2,009$1,440$1,013$701$478$111
31 years$1,923$1,362$944$644$433$95
32 years$1,843$1,288$881$591$391$81
33 years$1,768$1,220$823$544$354$69
34 years$1,697$1,156$769$500$321$58
35 years$1,630$1,097$719$461$290$50
36 years$1,568$1,041$672$424$263$42
37 years$1,508$989$629$391$238$36
38 years$1,452$940$589$360$216$31
39 years$1,400$893$552$332$196$26
40 years$1,349$850$517$306$178$22
41 years$1,302$809$485$283$161$19
42 years$1,257$771$455$261$146$16
43 years$1,214$734$427$241$133$14
44 years$1,173$700$401$222$121$12
45 years$1,134$667$376$205$109$10
46 years$1,097$637$354$190$99$9
47 years$1,061$608$332$175$90$7
48 years$1,027$580$312$162$82$6
49 years$995$554$293$150$74$5
50 years$964$529$276$138$68$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $987,000, adding $5,643 every year, while hoping to spend $46,488 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: 59/13/28 Blend
63$987,000$987,000$987,000$987,000
64$1,093,495$1,041,184$1,025,885$1,149,383
65$1,155,568$1,042,739$1,010,790$1,189,784
66$1,222,415$1,042,812$993,630$1,228,409
67$1,294,474$1,041,282$974,289$1,269,576
68$1,372,224$1,038,019$952,641$1,313,545
69$1,456,195$1,032,886$928,559$1,360,602
70$1,546,967$1,025,737$901,906$1,411,066
71$1,645,179$1,016,419$872,540$1,465,291
72$1,751,531$1,004,768$840,315$1,523,667
73$1,866,795$990,610$805,073$1,586,628
74$1,991,820$973,761$766,655$1,654,653
75$2,127,537$954,027$724,889$1,728,272
76$2,274,972$931,201$679,600$1,808,075
77$2,435,255$905,065$630,602$1,894,711
78$2,609,626$875,388$577,702$1,988,899
79$2,799,451$841,926$520,698$2,091,438
80$3,006,233$804,418$459,379$2,203,206
81$3,231,625$762,591$393,525$2,325,180
82$3,477,449$716,156$322,906$2,458,435
83$3,745,706$664,805$247,281$2,604,164
84$4,038,603$608,215$166,400$2,763,684
85$4,358,567$546,044$80,001$2,938,451
86$4,708,270$477,929$0$3,130,074
87$5,090,654$403,489$0$3,343,977
88$5,508,959$322,318$0$3,604,223
89$5,966,751$233,989$0$3,889,146
90$6,467,958$138,054$0$4,201,238
91$7,016,905$34,034$0$4,543,246
92$7,618,355$0$0$4,918,195
93$8,277,553$0$0$5,340,665
94$9,000,277$0$0$5,809,266
95$9,792,888$0$0$6,323,267
96$10,662,395$0$0$6,887,221
97$11,616,517$0$0$7,506,146
98$12,663,755$0$0$8,185,569
99$13,813,476$0$0$8,931,578
100$15,075,997$0$0$9,750,879