Can I retire at age 64 with 988,000?

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 $988,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$81,588$80,861$80,152$79,460$78,785$78,222
2 years$40,390$39,638$38,909$38,202$37,516$36,950
3 years$26,659$25,904$25,177$24,476$23,802$23,248
4 years$19,795$19,042$18,322$17,634$16,976$16,439
5 years$15,678$14,929$14,219$13,545$12,905$12,387
6 years$12,934$12,191$11,491$10,832$10,211$9,712
7 years$10,975$10,238$9,549$8,905$8,304$7,825
8 years$9,506$8,776$8,098$7,470$6,889$6,430
9 years$8,364$7,641$6,975$6,363$5,802$5,362
10 years$7,451$6,735$6,081$5,485$4,943$4,523
11 years$6,705$5,996$5,354$4,774$4,251$3,850
12 years$6,083$5,382$4,751$4,187$3,684$3,301
13 years$5,558$4,863$4,245$3,697$3,213$2,848
14 years$5,108$4,421$3,814$3,281$2,816$2,469
15 years$4,718$4,038$3,444$2,926$2,480$2,150
16 years$4,377$3,705$3,122$2,620$2,192$1,878
17 years$4,077$3,412$2,841$2,354$1,943$1,646
18 years$3,810$3,153$2,593$2,122$1,728$1,446
19 years$3,572$2,922$2,374$1,917$1,540$1,274
20 years$3,358$2,715$2,179$1,736$1,376$1,124
21 years$3,164$2,529$2,004$1,576$1,231$993
22 years$2,989$2,361$1,847$1,433$1,103$879
23 years$2,829$2,208$1,706$1,305$990$779
24 years$2,682$2,069$1,577$1,190$890$692
25 years$2,547$1,942$1,461$1,087$801$614
26 years$2,423$1,825$1,355$994$722$546
27 years$2,308$1,717$1,258$910$651$486
28 years$2,202$1,618$1,170$833$587$433
29 years$2,103$1,527$1,088$764$530$385
30 years$2,011$1,442$1,014$701$479$343
31 years$1,925$1,363$945$644$433$306
32 years$1,845$1,290$882$592$392$273
33 years$1,769$1,221$823$544$354$244
34 years$1,699$1,158$769$501$321$218
35 years$1,632$1,098$719$461$291$194
36 years$1,569$1,042$673$425$263$174
37 years$1,510$990$630$391$239$155
38 years$1,454$941$590$361$216$139
39 years$1,401$894$553$333$196$124
40 years$1,351$851$518$307$178$111
41 years$1,303$810$486$283$161$99
42 years$1,258$771$456$261$147$89
43 years$1,215$735$427$241$133$79
44 years$1,174$701$401$223$121$71
45 years$1,135$668$377$206$110$63
46 years$1,098$637$354$190$100$57
47 years$1,062$608$332$175$90$51
48 years$1,028$581$312$162$82$45
49 years$996$554$294$150$75$41
50 years$965$530$276$138$68$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $988,000, adding $2,789 every year, while hoping to spend $28,404 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: 63/29/8 Blend
63$988,000$988,000$988,000$988,000
64$1,091,653$1,039,289$1,023,975$1,158,482
65$1,172,780$1,059,992$1,028,056$1,224,127
66$1,261,230$1,080,758$1,031,323$1,292,198
67$1,357,720$1,101,560$1,033,716$1,365,793
68$1,463,038$1,122,368$1,035,177$1,445,445
69$1,578,055$1,143,151$1,035,643$1,531,742
70$1,703,726$1,163,874$1,035,046$1,625,332
71$1,841,103$1,184,501$1,033,317$1,726,930
72$1,991,346$1,204,992$1,030,384$1,837,322
73$2,155,731$1,225,305$1,026,169$1,957,375
74$2,335,664$1,245,392$1,020,594$2,088,044
75$2,532,691$1,265,206$1,013,573$2,230,381
76$2,748,516$1,284,692$1,005,019$2,385,546
77$2,985,017$1,303,794$994,839$2,554,817
78$3,244,260$1,322,451$982,937$2,739,602
79$3,528,520$1,340,597$969,212$2,941,454
80$3,840,306$1,358,163$953,557$3,162,083
81$4,182,378$1,375,074$935,862$3,403,374
82$4,557,778$1,391,250$916,010$3,667,405
83$4,969,855$1,406,605$893,880$3,956,467
84$5,422,301$1,421,049$869,346$4,273,082
85$5,919,180$1,434,485$842,273$4,620,034
86$6,464,970$1,446,809$812,524$5,000,387
87$7,064,605$1,457,911$779,952$5,417,523
88$7,723,520$1,467,673$744,405$5,875,164
89$8,447,701$1,475,971$705,724$6,377,418
90$9,243,745$1,482,672$663,744$6,928,809
91$10,118,918$1,487,634$618,291$7,534,326
92$11,081,226$1,490,707$569,182$8,199,466
93$12,139,491$1,491,731$516,229$8,930,289
94$13,303,430$1,490,536$459,234$9,733,473
95$14,583,750$1,486,943$397,989$10,616,382
96$15,992,249$1,480,760$332,278$11,587,128
97$17,541,926$1,471,785$261,877$12,654,657
98$19,247,101$1,459,801$186,548$13,828,827
99$21,123,555$1,444,581$106,047$15,120,503
100$23,188,674$1,425,882$20,117$16,541,661