Can I retire at age 64 with 992,000?

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 $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%18.1%
1 years$81,918$81,189$80,477$79,782$79,103$76,510
2 years$40,554$39,798$39,066$38,357$37,668$35,080
3 years$26,767$26,009$25,279$24,576$23,898$21,397
4 years$19,875$19,119$18,396$17,705$17,044$14,649
5 years$15,741$14,990$14,276$13,599$12,957$10,673
6 years$12,986$12,240$11,537$10,876$10,252$8,083
7 years$11,019$10,279$9,588$8,941$8,338$6,282
8 years$9,544$8,811$8,131$7,501$6,917$4,974
9 years$8,398$7,672$7,003$6,389$5,825$3,992
10 years$7,481$6,762$6,106$5,507$4,963$3,237
11 years$6,732$6,020$5,375$4,793$4,269$2,646
12 years$6,108$5,403$4,770$4,204$3,699$2,177
13 years$5,580$4,883$4,262$3,712$3,226$1,800
14 years$5,128$4,439$3,829$3,295$2,828$1,494
15 years$4,737$4,055$3,458$2,938$2,490$1,245
16 years$4,395$3,720$3,135$2,631$2,200$1,040
17 years$4,093$3,426$2,852$2,364$1,951$870
18 years$3,826$3,166$2,604$2,130$1,735$730
19 years$3,587$2,934$2,384$1,925$1,546$613
20 years$3,371$2,726$2,188$1,743$1,381$516
21 years$3,177$2,540$2,012$1,582$1,236$434
22 years$3,001$2,371$1,855$1,439$1,108$366
23 years$2,840$2,217$1,712$1,310$994$308
24 years$2,693$2,077$1,584$1,195$894$260
25 years$2,558$1,950$1,467$1,091$804$220
26 years$2,433$1,832$1,360$998$725$186
27 years$2,318$1,724$1,263$913$653$157
28 years$2,211$1,625$1,174$837$589$133
29 years$2,112$1,533$1,093$767$532$112
30 years$2,019$1,448$1,018$704$481$95
31 years$1,933$1,368$949$647$435$80
32 years$1,852$1,295$885$594$393$68
33 years$1,777$1,226$827$547$356$57
34 years$1,705$1,162$772$503$322$49
35 years$1,639$1,102$722$463$292$41
36 years$1,576$1,046$676$426$264$35
37 years$1,516$994$632$393$240$29
38 years$1,460$944$592$362$217$25
39 years$1,407$898$555$334$197$21
40 years$1,356$854$520$308$179$18
41 years$1,308$813$488$284$162$15
42 years$1,263$775$457$262$147$13
43 years$1,220$738$429$242$134$11
44 years$1,179$703$403$224$121$9
45 years$1,139$671$378$206$110$8
46 years$1,102$640$355$191$100$7
47 years$1,066$611$334$176$91$6
48 years$1,032$583$314$163$82$5
49 years$1,000$557$295$150$75$4
50 years$969$532$277$139$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $992,000, adding $6,530 every year, while hoping to spend $20,921 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: 61/15/24 Blend
63$992,000$992,000$992,000$992,000
64$1,099,920$1,047,344$1,031,968$1,159,634
65$1,189,852$1,076,404$1,044,279$1,229,965
66$1,288,256$1,106,187$1,056,301$1,303,837
67$1,395,973$1,136,705$1,068,003$1,384,008
68$1,513,932$1,167,974$1,079,351$1,471,095
69$1,643,154$1,200,005$1,090,309$1,565,778
70$1,784,762$1,232,811$1,100,841$1,668,805
71$1,939,995$1,266,407$1,110,907$1,781,003
72$2,110,218$1,300,803$1,120,465$1,903,278
73$2,296,931$1,336,015$1,129,472$2,036,634
74$2,501,792$1,372,052$1,137,883$2,182,171
75$2,726,621$1,408,929$1,145,648$2,341,106
76$2,973,426$1,446,657$1,152,717$2,514,778
77$3,244,419$1,485,247$1,159,037$2,704,661
78$3,542,036$1,524,710$1,164,551$2,912,382
79$3,868,961$1,565,058$1,169,201$3,139,730
80$4,228,150$1,606,301$1,172,924$3,388,681
81$4,622,859$1,648,447$1,175,655$3,661,409
82$5,056,677$1,691,508$1,177,326$3,960,309
83$5,533,557$1,735,490$1,177,865$4,288,024
84$6,057,853$1,780,402$1,177,196$4,647,462
85$6,634,363$1,826,251$1,175,241$5,041,831
86$7,268,373$1,873,042$1,171,917$5,474,665
87$7,965,707$1,920,782$1,167,137$5,949,857
88$8,732,782$1,969,473$1,160,809$6,471,700
89$9,576,668$2,019,120$1,152,838$7,044,923
90$10,505,155$2,069,723$1,143,124$7,674,738
91$11,526,824$2,121,283$1,131,562$8,366,887
92$12,651,133$2,173,798$1,118,043$9,127,702
93$13,888,502$2,227,268$1,102,450$9,964,158
94$15,250,411$2,281,686$1,084,665$10,883,942
95$16,749,512$2,337,047$1,064,560$11,895,525
96$18,399,743$2,393,343$1,042,003$13,008,244
97$20,216,463$2,450,564$1,016,857$14,232,389
98$22,216,597$2,508,697$988,977$15,579,298
99$24,418,794$2,567,727$958,211$17,061,467
100$26,843,602$2,627,636$924,402$18,692,669