Can I retire at age 64 with 990,000?

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 $990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$81,753$81,025$80,315$79,621$78,944$77,572
2 years$40,472$39,718$38,988$38,279$37,592$36,215
3 years$26,713$25,956$25,228$24,526$23,850$22,510
4 years$19,835$19,081$18,359$17,670$17,010$15,717
5 years$15,710$14,959$14,248$13,572$12,931$11,689
6 years$12,960$12,215$11,514$10,854$10,232$9,042
7 years$10,997$10,259$9,568$8,923$8,321$7,185
8 years$9,525$8,793$8,115$7,486$6,903$5,819
9 years$8,381$7,656$6,989$6,376$5,813$4,782
10 years$7,466$6,749$6,093$5,496$4,953$3,973
11 years$6,718$6,008$5,364$4,783$4,260$3,329
12 years$6,095$5,392$4,761$4,196$3,692$2,810
13 years$5,569$4,873$4,253$3,704$3,219$2,385
14 years$5,118$4,430$3,822$3,288$2,822$2,034
15 years$4,727$4,046$3,451$2,932$2,485$1,741
16 years$4,386$3,713$3,128$2,626$2,196$1,495
17 years$4,085$3,419$2,847$2,359$1,947$1,287
18 years$3,818$3,159$2,599$2,126$1,731$1,111
19 years$3,579$2,928$2,379$1,921$1,543$961
20 years$3,365$2,721$2,183$1,740$1,378$832
21 years$3,171$2,534$2,008$1,579$1,233$722
22 years$2,995$2,366$1,851$1,436$1,106$627
23 years$2,834$2,213$1,709$1,308$992$545
24 years$2,687$2,073$1,581$1,193$892$475
25 years$2,552$1,946$1,464$1,089$803$413
26 years$2,428$1,829$1,358$996$723$360
27 years$2,313$1,721$1,261$912$652$314
28 years$2,206$1,622$1,172$835$588$274
29 years$2,107$1,530$1,091$766$531$239
30 years$2,015$1,445$1,016$703$480$209
31 years$1,929$1,366$947$646$434$183
32 years$1,848$1,292$884$593$392$160
33 years$1,773$1,224$825$546$355$139
34 years$1,702$1,160$771$502$322$122
35 years$1,635$1,100$721$462$291$107
36 years$1,572$1,044$674$426$264$93
37 years$1,513$992$631$392$239$82
38 years$1,457$942$591$361$217$71
39 years$1,404$896$554$333$197$62
40 years$1,353$853$519$307$178$55
41 years$1,306$812$487$284$162$48
42 years$1,260$773$456$262$147$42
43 years$1,217$737$428$242$133$37
44 years$1,176$702$402$223$121$32
45 years$1,137$669$378$206$110$28
46 years$1,100$639$355$190$100$25
47 years$1,064$609$333$176$91$22
48 years$1,030$582$313$162$82$19
49 years$998$556$294$150$75$16
50 years$967$531$277$139$68$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $990,000, adding $2,431 every year, while hoping to spend $48,395 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: 69/20/11 Blend
63$990,000$990,000$990,000$990,000
64$1,093,488$1,041,018$1,025,673$1,166,265
65$1,153,531$1,040,536$1,008,541$1,214,401
66$1,218,078$1,038,408$989,213$1,260,973
67$1,287,535$1,034,503$967,565$1,310,647
68$1,362,350$1,028,681$943,465$1,363,719
69$1,443,017$1,020,793$916,778$1,420,517
70$1,530,076$1,010,683$887,361$1,481,403
71$1,624,120$998,183$855,065$1,546,777
72$1,725,804$983,117$819,732$1,617,081
73$1,835,843$965,298$781,201$1,692,803
74$1,955,028$944,526$739,300$1,774,482
75$2,084,226$920,593$693,852$1,862,713
76$2,224,390$893,275$644,669$1,958,154
77$2,376,569$862,337$591,557$2,061,531
78$2,541,918$827,530$534,312$2,173,645
79$2,721,704$788,589$472,722$2,295,383
80$2,917,325$745,237$406,565$2,427,723
81$3,130,316$697,178$335,609$2,571,744
82$3,362,368$644,099$259,612$2,728,640
83$3,615,342$585,672$178,321$2,899,727
84$3,891,284$521,547$91,472$3,086,459
85$4,192,448$451,357$0$3,290,441
86$4,521,315$374,710$0$3,513,587
87$4,880,616$291,197$0$3,769,178
88$5,273,356$200,383$0$4,048,661
89$5,702,845$101,809$0$4,354,457
90$6,172,728$0$0$4,689,234
91$6,687,017$0$0$5,057,039
92$7,250,131$0$0$5,484,349
93$7,866,935$0$0$5,952,457
94$8,542,788$0$0$6,465,435
95$9,283,591$0$0$7,027,772
96$10,095,843$0$0$7,644,406
97$10,986,702$0$0$8,320,781
98$11,964,053$0$0$9,062,891
99$13,036,580$0$0$9,877,337
100$14,213,849$0$0$10,771,393