Can I retire at age 64 with 989,000?

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 $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%16.6%
1 years$81,671$80,943$80,233$79,541$78,864$76,740
2 years$40,431$39,678$38,948$38,241$37,554$35,429
3 years$26,686$25,930$25,202$24,501$23,826$21,767
4 years$19,815$19,061$18,341$17,652$16,993$15,015
5 years$15,694$14,944$14,233$13,558$12,918$11,027
6 years$12,947$12,203$11,502$10,843$10,221$8,420
7 years$10,986$10,248$9,559$8,914$8,313$6,600
8 years$9,515$8,785$8,106$7,478$6,896$5,271
9 years$8,373$7,649$6,982$6,370$5,808$4,269
10 years$7,459$6,742$6,087$5,491$4,948$3,495
11 years$6,712$6,002$5,359$4,779$4,256$2,885
12 years$6,089$5,387$4,756$4,191$3,688$2,397
13 years$5,563$4,868$4,249$3,700$3,216$2,002
14 years$5,113$4,425$3,818$3,285$2,819$1,679
15 years$4,723$4,042$3,447$2,929$2,482$1,414
16 years$4,382$3,709$3,125$2,623$2,194$1,194
17 years$4,081$3,416$2,844$2,357$1,945$1,010
18 years$3,814$3,156$2,596$2,124$1,730$857
19 years$3,576$2,925$2,377$1,919$1,542$728
20 years$3,361$2,718$2,181$1,738$1,377$619
21 years$3,168$2,532$2,006$1,577$1,232$527
22 years$2,992$2,363$1,849$1,434$1,104$450
23 years$2,831$2,210$1,707$1,306$991$384
24 years$2,685$2,071$1,579$1,191$891$328
25 years$2,550$1,944$1,462$1,088$802$280
26 years$2,426$1,827$1,356$995$722$239
27 years$2,311$1,719$1,259$911$651$205
28 years$2,204$1,620$1,171$834$588$175
29 years$2,105$1,528$1,090$765$531$150
30 years$2,013$1,443$1,015$702$479$128
31 years$1,927$1,364$946$645$433$110
32 years$1,847$1,291$883$593$392$94
33 years$1,771$1,223$824$545$355$81
34 years$1,700$1,159$770$501$321$69
35 years$1,634$1,099$720$462$291$59
36 years$1,571$1,043$674$425$264$51
37 years$1,511$991$630$392$239$44
38 years$1,455$942$590$361$217$37
39 years$1,402$895$553$333$196$32
40 years$1,352$852$518$307$178$27
41 years$1,304$811$486$283$162$24
42 years$1,259$772$456$261$147$20
43 years$1,216$736$428$241$133$17
44 years$1,175$701$402$223$121$15
45 years$1,136$669$377$206$110$13
46 years$1,099$638$354$190$100$11
47 years$1,063$609$333$176$90$9
48 years$1,029$581$313$162$82$8
49 years$997$555$294$150$75$7
50 years$966$530$276$139$68$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $989,000, adding $3,462 every year, while hoping to spend $37,047 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: 56/29/15 Blend
63$989,000$989,000$989,000$989,000
64$1,093,449$1,041,032$1,025,703$1,150,219
65$1,165,563$1,052,625$1,020,646$1,200,747
66$1,243,791$1,063,544$1,014,178$1,251,437
67$1,328,718$1,073,718$1,006,213$1,305,804
68$1,420,986$1,083,069$996,660$1,364,209
69$1,521,302$1,091,515$985,424$1,427,048
70$1,630,445$1,098,970$972,406$1,494,760
71$1,749,271$1,105,339$957,502$1,567,828
72$1,878,722$1,110,526$940,603$1,646,786
73$2,019,833$1,114,424$921,595$1,732,226
74$2,173,747$1,116,921$900,360$1,824,799
75$2,341,719$1,117,900$876,771$1,925,223
76$2,525,130$1,117,233$850,699$2,034,295
77$2,725,503$1,114,787$822,007$2,152,890
78$2,944,513$1,110,420$790,553$2,281,978
79$3,184,003$1,103,980$756,186$2,422,628
80$3,446,005$1,095,309$718,752$2,576,019
81$3,732,753$1,084,235$678,086$2,743,456
82$4,046,711$1,070,579$634,018$2,926,375
83$4,390,588$1,054,150$586,371$3,126,365
84$4,767,371$1,034,747$534,957$3,345,178
85$5,180,348$1,012,154$479,583$3,584,747
86$5,633,139$986,145$420,045$3,847,208
87$6,129,733$956,481$356,131$4,134,916
88$6,674,524$922,906$287,619$4,450,470
89$7,272,349$885,153$214,278$4,796,739
90$7,928,539$842,935$135,867$5,176,887
91$8,648,964$795,953$52,132$5,594,409
92$9,440,092$743,888$0$6,053,156
93$10,309,045$686,403$0$6,563,339
94$11,263,674$623,142$0$7,132,982
95$12,312,622$553,729$0$7,758,952
96$13,465,414$477,767$0$8,447,007
97$14,732,544$394,835$0$9,203,494
98$16,125,571$304,490$0$10,035,412
99$17,657,231$206,262$0$10,950,476
100$19,341,557$99,657$0$11,957,197