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%18.6%
1 years$81,588$80,861$80,152$79,460$78,785$76,050
2 years$40,390$39,638$38,909$38,202$37,516$34,789
3 years$26,659$25,904$25,177$24,476$23,802$21,168
4 years$19,795$19,042$18,322$17,634$16,976$14,456
5 years$15,678$14,929$14,219$13,545$12,905$10,505
6 years$12,934$12,191$11,491$10,832$10,211$7,934
7 years$10,975$10,238$9,549$8,905$8,304$6,149
8 years$9,506$8,776$8,098$7,470$6,889$4,853
9 years$8,364$7,641$6,975$6,363$5,802$3,883
10 years$7,451$6,735$6,081$5,485$4,943$3,139
11 years$6,705$5,996$5,354$4,774$4,251$2,558
12 years$6,083$5,382$4,751$4,187$3,684$2,097
13 years$5,558$4,863$4,245$3,697$3,213$1,728
14 years$5,108$4,421$3,814$3,281$2,816$1,430
15 years$4,718$4,038$3,444$2,926$2,480$1,187
16 years$4,377$3,705$3,122$2,620$2,192$988
17 years$4,077$3,412$2,841$2,354$1,943$824
18 years$3,810$3,153$2,593$2,122$1,728$688
19 years$3,572$2,922$2,374$1,917$1,540$576
20 years$3,358$2,715$2,179$1,736$1,376$482
21 years$3,164$2,529$2,004$1,576$1,231$405
22 years$2,989$2,361$1,847$1,433$1,103$340
23 years$2,829$2,208$1,706$1,305$990$285
24 years$2,682$2,069$1,577$1,190$890$240
25 years$2,547$1,942$1,461$1,087$801$202
26 years$2,423$1,825$1,355$994$722$170
27 years$2,308$1,717$1,258$910$651$143
28 years$2,202$1,618$1,170$833$587$120
29 years$2,103$1,527$1,088$764$530$101
30 years$2,011$1,442$1,014$701$479$85
31 years$1,925$1,363$945$644$433$72
32 years$1,845$1,290$882$592$392$60
33 years$1,769$1,221$823$544$354$51
34 years$1,699$1,158$769$501$321$43
35 years$1,632$1,098$719$461$291$36
36 years$1,569$1,042$673$425$263$31
37 years$1,510$990$630$391$239$26
38 years$1,454$941$590$361$216$22
39 years$1,401$894$553$333$196$18
40 years$1,351$851$518$307$178$15
41 years$1,303$810$486$283$161$13
42 years$1,258$771$456$261$147$11
43 years$1,215$735$427$241$133$9
44 years$1,174$701$401$223$121$8
45 years$1,135$668$377$206$110$7
46 years$1,098$637$354$190$100$6
47 years$1,062$608$332$175$90$5
48 years$1,028$581$312$162$82$4
49 years$996$554$294$150$75$3
50 years$965$530$276$138$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $988,000, adding $5,710 every year, while hoping to spend $22,404 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: 45/50/5 Blend
63$988,000$988,000$988,000$988,000
64$1,094,666$1,042,302$1,026,988$1,142,177
65$1,182,484$1,069,537$1,037,554$1,202,700
66$1,278,509$1,097,356$1,047,724$1,265,489
67$1,383,554$1,125,763$1,057,459$1,333,039
68$1,498,514$1,154,763$1,066,722$1,405,795
69$1,624,376$1,184,361$1,075,471$1,484,245
70$1,762,227$1,214,558$1,083,663$1,568,928
71$1,913,261$1,245,358$1,091,253$1,660,436
72$2,078,796$1,276,763$1,098,192$1,759,421
73$2,260,282$1,308,774$1,104,431$1,866,600
74$2,459,318$1,341,391$1,109,917$1,982,762
75$2,677,663$1,374,614$1,114,594$2,108,778
76$2,917,256$1,408,441$1,118,403$2,245,605
77$3,180,230$1,442,869$1,121,284$2,394,296
78$3,468,939$1,477,895$1,123,172$2,556,014
79$3,785,972$1,513,513$1,124,000$2,732,036
80$4,134,183$1,549,717$1,123,696$2,923,771
81$4,516,716$1,586,499$1,122,186$3,132,769
82$4,937,034$1,623,851$1,119,392$3,360,740
83$5,398,952$1,661,760$1,115,233$3,609,566
84$5,906,674$1,700,215$1,109,622$3,881,319
85$6,464,830$1,739,201$1,102,469$4,178,285
86$7,078,521$1,778,700$1,093,681$4,502,978
87$7,753,369$1,818,695$1,083,158$4,858,173
88$8,495,566$1,859,164$1,070,796$5,246,922
89$9,311,934$1,900,084$1,056,489$5,672,593
90$10,209,991$1,941,428$1,040,121$6,138,892
91$11,198,020$1,983,167$1,021,574$6,649,907
92$12,285,145$2,025,270$1,000,725$7,210,140
93$13,481,423$2,067,702$977,442$7,824,551
94$14,797,932$2,110,422$951,590$8,498,608
95$16,246,879$2,153,391$923,026$9,238,334
96$17,841,714$2,196,561$891,601$10,050,369
97$19,597,259$2,239,882$857,159$10,942,028
98$21,529,843$2,283,300$819,538$11,921,371
99$23,657,462$2,326,757$778,567$12,997,283
100$25,999,942$2,370,187$734,068$14,179,554