Can I retire at age 64 with 987,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%15.8%
1 years$81,506$80,780$80,071$79,380$78,705$76,833
2 years$40,349$39,598$38,870$38,163$37,478$35,604
3 years$26,632$25,878$25,151$24,452$23,778$21,959
4 years$19,775$19,023$18,304$17,616$16,959$15,209
5 years$15,662$14,914$14,204$13,531$12,892$11,217
6 years$12,921$12,178$11,479$10,821$10,201$8,602
7 years$10,963$10,227$9,539$8,896$8,296$6,773
8 years$9,496$8,767$8,090$7,463$6,882$5,435
9 years$8,356$7,633$6,968$6,357$5,796$4,424
10 years$7,444$6,728$6,075$5,480$4,938$3,639
11 years$6,698$5,990$5,348$4,769$4,247$3,019
12 years$6,077$5,376$4,746$4,183$3,680$2,522
13 years$5,552$4,858$4,241$3,693$3,209$2,117
14 years$5,102$4,416$3,810$3,278$2,813$1,786
15 years$4,713$4,034$3,440$2,924$2,477$1,512
16 years$4,373$3,701$3,119$2,618$2,189$1,284
17 years$4,073$3,409$2,838$2,352$1,941$1,093
18 years$3,806$3,150$2,591$2,120$1,726$932
19 years$3,568$2,919$2,372$1,915$1,538$797
20 years$3,355$2,713$2,177$1,735$1,374$682
21 years$3,161$2,527$2,002$1,574$1,230$584
22 years$2,986$2,359$1,845$1,431$1,102$501
23 years$2,826$2,206$1,704$1,304$989$431
24 years$2,679$2,067$1,576$1,189$889$370
25 years$2,545$1,940$1,459$1,086$800$318
26 years$2,421$1,823$1,354$993$721$274
27 years$2,306$1,716$1,257$909$650$236
28 years$2,200$1,617$1,168$833$586$203
29 years$2,101$1,525$1,087$764$530$175
30 years$2,009$1,440$1,013$701$478$151
31 years$1,923$1,362$944$644$433$130
32 years$1,843$1,288$881$591$391$112
33 years$1,768$1,220$823$544$354$97
34 years$1,697$1,156$769$500$321$83
35 years$1,630$1,097$719$461$290$72
36 years$1,568$1,041$672$424$263$62
37 years$1,508$989$629$391$238$54
38 years$1,452$940$589$360$216$46
39 years$1,400$893$552$332$196$40
40 years$1,349$850$517$306$178$34
41 years$1,302$809$485$283$161$30
42 years$1,257$771$455$261$146$26
43 years$1,214$734$427$241$133$22
44 years$1,173$700$401$222$121$19
45 years$1,134$667$376$205$109$17
46 years$1,097$637$354$190$99$14
47 years$1,061$608$332$175$90$12
48 years$1,027$580$312$162$82$11
49 years$995$554$293$150$74$9
50 years$964$529$276$138$68$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $987,000, adding $2,576 every year, while hoping to spend $55,533 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: 69/6/25 Blend
63$987,000$987,000$987,000$987,000
64$1,090,331$1,038,020$1,022,722$1,158,428
65$1,142,458$1,029,796$997,896$1,196,176
66$1,198,041$1,019,309$970,378$1,230,822
67$1,257,373$1,006,387$940,018$1,267,437
68$1,320,777$990,852$906,660$1,306,213
69$1,388,606$972,513$870,142$1,347,366
70$1,461,246$951,168$830,294$1,391,133
71$1,539,122$926,604$786,938$1,437,777
72$1,622,699$898,594$739,887$1,487,591
73$1,712,488$866,900$688,948$1,540,898
74$1,809,051$831,267$633,916$1,598,056
75$1,913,003$791,427$574,581$1,659,461
76$2,025,019$747,097$510,720$1,725,553
77$2,145,844$697,978$442,101$1,796,819
78$2,276,292$643,751$368,484$1,873,796
79$2,417,260$584,081$289,614$1,957,079
80$2,569,734$518,614$205,230$2,047,329
81$2,734,797$446,976$115,055$2,145,273
82$2,913,638$368,770$18,801$2,251,719
83$3,107,569$283,579$0$2,367,558
84$3,318,027$190,961$0$2,516,162
85$3,546,597$90,449$0$2,683,043
86$3,795,020$0$0$2,864,473
87$4,065,213$0$0$3,063,095
88$4,359,283$0$0$3,285,818
89$4,679,550$0$0$3,528,432
90$5,028,565$0$0$3,792,878
91$5,409,140$0$0$4,081,290
92$5,824,364$0$0$4,396,019
93$6,277,640$0$0$4,739,652
94$6,772,716$0$0$5,115,035
95$7,313,714$0$0$5,525,302
96$7,905,175$0$0$5,973,906
97$8,552,097$0$0$6,464,646
98$9,259,983$0$0$7,001,706
99$10,034,894$0$0$7,589,692
100$10,883,504$0$0$8,233,677