Can I retire at age 64 with 989,000?

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 $989,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$81,671$80,943$80,233$79,541$78,864$77,943
2 years$40,431$39,678$38,948$38,241$37,554$36,628
3 years$26,686$25,930$25,202$24,501$23,826$22,922
4 years$19,815$19,061$18,341$17,652$16,993$16,119
5 years$15,694$14,944$14,233$13,558$12,918$12,076
6 years$12,947$12,203$11,502$10,843$10,221$9,413
7 years$10,986$10,248$9,559$8,914$8,313$7,538
8 years$9,515$8,785$8,106$7,478$6,896$6,155
9 years$8,373$7,649$6,982$6,370$5,808$5,099
10 years$7,459$6,742$6,087$5,491$4,948$4,273
11 years$6,712$6,002$5,359$4,779$4,256$3,612
12 years$6,089$5,387$4,756$4,191$3,688$3,076
13 years$5,563$4,868$4,249$3,700$3,216$2,635
14 years$5,113$4,425$3,818$3,285$2,819$2,268
15 years$4,723$4,042$3,447$2,929$2,482$1,960
16 years$4,382$3,709$3,125$2,623$2,194$1,700
17 years$4,081$3,416$2,844$2,357$1,945$1,478
18 years$3,814$3,156$2,596$2,124$1,730$1,289
19 years$3,576$2,925$2,377$1,919$1,542$1,126
20 years$3,361$2,718$2,181$1,738$1,377$986
21 years$3,168$2,532$2,006$1,577$1,232$864
22 years$2,992$2,363$1,849$1,434$1,104$759
23 years$2,831$2,210$1,707$1,306$991$667
24 years$2,685$2,071$1,579$1,191$891$587
25 years$2,550$1,944$1,462$1,088$802$517
26 years$2,426$1,827$1,356$995$722$455
27 years$2,311$1,719$1,259$911$651$402
28 years$2,204$1,620$1,171$834$588$354
29 years$2,105$1,528$1,090$765$531$313
30 years$2,013$1,443$1,015$702$479$276
31 years$1,927$1,364$946$645$433$244
32 years$1,847$1,291$883$593$392$216
33 years$1,771$1,223$824$545$355$191
34 years$1,700$1,159$770$501$321$169
35 years$1,634$1,099$720$462$291$149
36 years$1,571$1,043$674$425$264$132
37 years$1,511$991$630$392$239$117
38 years$1,455$942$590$361$217$104
39 years$1,402$895$553$333$196$92
40 years$1,352$852$518$307$178$81
41 years$1,304$811$486$283$162$72
42 years$1,259$772$456$261$147$64
43 years$1,216$736$428$241$133$57
44 years$1,175$701$402$223$121$50
45 years$1,136$669$377$206$110$44
46 years$1,099$638$354$190$100$39
47 years$1,063$609$333$176$90$35
48 years$1,029$581$313$162$82$31
49 years$997$555$294$150$75$27
50 years$966$530$276$139$68$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $989,000, adding $5,678 every year, while hoping to spend $47,528 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: 29/50/21 Blend
63$989,000$989,000$989,000$989,000
64$1,095,735$1,043,318$1,027,988$1,120,147
65$1,156,930$1,043,871$1,011,857$1,139,941
66$1,222,775$1,042,858$993,591$1,156,586
67$1,293,692$1,040,153$973,071$1,173,477
68$1,370,149$1,035,620$950,169$1,190,667
69$1,452,655$1,029,117$924,751$1,208,213
70$1,541,774$1,020,492$896,678$1,226,188
71$1,638,123$1,009,584$865,805$1,244,671
72$1,742,381$996,222$831,978$1,263,757
73$1,855,294$980,227$795,040$1,283,556
74$1,977,682$961,407$754,822$1,304,194
75$2,110,449$939,559$711,151$1,325,815
76$2,254,585$914,468$663,845$1,348,583
77$2,411,182$885,906$612,714$1,372,688
78$2,581,442$853,635$557,559$1,398,344
79$2,766,684$817,398$498,172$1,425,793
80$2,968,361$776,926$434,336$1,455,314
81$3,188,073$731,934$365,826$1,487,217
82$3,427,580$682,122$292,404$1,521,857
83$3,688,817$627,170$213,823$1,559,631
84$3,973,916$566,742$129,827$1,600,988
85$4,285,225$500,481$40,145$1,646,434
86$4,625,324$428,011$0$1,696,534
87$4,997,059$348,935$0$1,764,377
88$5,403,558$262,832$0$1,848,634
89$5,848,270$169,260$0$1,941,169
90$6,334,990$67,750$0$2,042,950
91$6,867,896$0$0$2,155,052
92$7,451,590$0$0$2,301,885
93$8,091,142$0$0$2,503,769
94$8,792,131$0$0$2,725,208
95$9,560,706$0$0$2,968,165
96$10,403,636$0$0$3,234,800
97$11,328,379$0$0$3,527,495
98$12,343,148$0$0$3,848,871
99$13,456,991$0$0$4,201,816
100$14,679,873$0$0$4,589,514