Can I retire at age 64 with 992,000?

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 $992,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$81,918$81,189$80,477$79,782$79,103$77,380
2 years$40,554$39,798$39,066$38,357$37,668$35,940
3 years$26,767$26,009$25,279$24,576$23,898$22,220
4 years$19,875$19,119$18,396$17,705$17,044$15,429
5 years$15,741$14,990$14,276$13,599$12,957$11,409
6 years$12,986$12,240$11,537$10,876$10,252$8,773
7 years$11,019$10,279$9,588$8,941$8,338$6,928
8 years$9,544$8,811$8,131$7,501$6,917$5,575
9 years$8,398$7,672$7,003$6,389$5,825$4,551
10 years$7,481$6,762$6,106$5,507$4,963$3,756
11 years$6,732$6,020$5,375$4,793$4,269$3,126
12 years$6,108$5,403$4,770$4,204$3,699$2,619
13 years$5,580$4,883$4,262$3,712$3,226$2,207
14 years$5,128$4,439$3,829$3,295$2,828$1,868
15 years$4,737$4,055$3,458$2,938$2,490$1,587
16 years$4,395$3,720$3,135$2,631$2,200$1,352
17 years$4,093$3,426$2,852$2,364$1,951$1,155
18 years$3,826$3,166$2,604$2,130$1,735$989
19 years$3,587$2,934$2,384$1,925$1,546$848
20 years$3,371$2,726$2,188$1,743$1,381$729
21 years$3,177$2,540$2,012$1,582$1,236$627
22 years$3,001$2,371$1,855$1,439$1,108$540
23 years$2,840$2,217$1,712$1,310$994$466
24 years$2,693$2,077$1,584$1,195$894$402
25 years$2,558$1,950$1,467$1,091$804$347
26 years$2,433$1,832$1,360$998$725$300
27 years$2,318$1,724$1,263$913$653$259
28 years$2,211$1,625$1,174$837$589$224
29 years$2,112$1,533$1,093$767$532$194
30 years$2,019$1,448$1,018$704$481$168
31 years$1,933$1,368$949$647$435$145
32 years$1,852$1,295$885$594$393$126
33 years$1,777$1,226$827$547$356$109
34 years$1,705$1,162$772$503$322$94
35 years$1,639$1,102$722$463$292$82
36 years$1,576$1,046$676$426$264$71
37 years$1,516$994$632$393$240$61
38 years$1,460$944$592$362$217$53
39 years$1,407$898$555$334$197$46
40 years$1,356$854$520$308$179$40
41 years$1,308$813$488$284$162$35
42 years$1,263$775$457$262$147$30
43 years$1,220$738$429$242$134$26
44 years$1,179$703$403$224$121$23
45 years$1,139$671$378$206$110$20
46 years$1,102$640$355$191$100$17
47 years$1,066$611$334$176$91$15
48 years$1,032$583$314$163$82$13
49 years$1,000$557$295$150$75$11
50 years$969$532$277$139$68$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $992,000, adding $5,655 every year, while hoping to spend $46,768 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: 67/22/11 Blend
63$992,000$992,000$992,000$992,000
64$1,099,017$1,046,441$1,031,065$1,169,680
65$1,161,356$1,047,956$1,015,845$1,218,930
66$1,228,486$1,047,978$998,548$1,266,663
67$1,300,847$1,046,383$979,054$1,317,639
68$1,378,920$1,043,043$957,239$1,372,171
69$1,463,237$1,037,819$932,974$1,430,604
70$1,554,379$1,030,565$906,121$1,493,318
71$1,652,988$1,021,124$876,538$1,560,735
72$1,759,767$1,009,333$844,075$1,633,318
73$1,875,489$995,017$808,578$1,711,583
74$2,001,007$977,990$769,883$1,796,095
75$2,137,255$958,057$727,820$1,887,482
76$2,285,263$935,010$682,210$1,986,435
77$2,446,162$908,629$632,867$2,093,719
78$2,621,200$878,680$579,597$2,210,177
79$2,811,746$844,919$522,196$2,336,741
80$3,019,307$807,083$460,453$2,474,442
81$3,245,544$764,898$394,146$2,624,414
82$3,492,282$718,071$323,043$2,787,914
83$3,761,532$666,293$246,902$2,966,327
84$4,055,506$609,240$165,471$3,161,182
85$4,376,640$546,565$78,487$3,374,169
86$4,727,615$477,904$0$3,607,153
87$5,111,383$402,873$0$3,863,874
88$5,531,194$321,063$0$4,154,861
89$5,990,627$232,047$0$4,473,437
90$6,493,623$135,369$0$4,822,406
91$7,044,521$30,550$0$5,204,860
92$7,648,099$0$0$5,624,212
93$8,309,622$0$0$6,104,297
94$9,034,884$0$0$6,638,810
95$9,830,269$0$0$7,225,067
96$10,702,810$0$0$7,868,259
97$11,660,250$0$0$8,574,102
98$12,711,121$0$0$9,348,895
99$13,864,818$0$0$10,199,575
100$15,131,693$0$0$11,133,782