Can I retire at age 64 with 993,000?

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 $993,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$82,001$81,271$80,558$79,862$79,183$78,422
2 years$40,595$39,839$39,106$38,395$37,706$36,939
3 years$26,794$26,035$25,304$24,600$23,922$23,173
4 years$19,895$19,138$18,415$17,723$17,062$16,337
5 years$15,757$15,005$14,291$13,613$12,970$12,271
6 years$12,999$12,253$11,549$10,886$10,263$9,591
7 years$11,030$10,290$9,597$8,950$8,346$7,701
8 years$9,554$8,820$8,139$7,508$6,924$6,306
9 years$8,406$7,680$7,010$6,395$5,831$5,240
10 years$7,489$6,769$6,112$5,513$4,968$4,404
11 years$6,739$6,026$5,381$4,798$4,273$3,735
12 years$6,114$5,409$4,775$4,208$3,703$3,191
13 years$5,586$4,888$4,266$3,715$3,229$2,742
14 years$5,133$4,443$3,833$3,298$2,831$2,368
15 years$4,742$4,059$3,461$2,941$2,492$2,053
16 years$4,399$3,724$3,138$2,634$2,203$1,787
17 years$4,098$3,429$2,855$2,366$1,953$1,559
18 years$3,830$3,169$2,607$2,132$1,737$1,364
19 years$3,590$2,937$2,386$1,927$1,548$1,196
20 years$3,375$2,729$2,190$1,745$1,383$1,051
21 years$3,180$2,542$2,014$1,584$1,237$925
22 years$3,004$2,373$1,857$1,440$1,109$815
23 years$2,843$2,219$1,714$1,312$995$719
24 years$2,695$2,079$1,585$1,196$895$635
25 years$2,560$1,951$1,468$1,092$805$562
26 years$2,435$1,834$1,362$999$725$497
27 years$2,320$1,726$1,265$914$654$440
28 years$2,213$1,626$1,176$838$590$390
29 years$2,114$1,534$1,094$768$533$346
30 years$2,021$1,449$1,019$705$481$307
31 years$1,935$1,370$950$647$435$272
32 years$1,854$1,296$886$595$394$242
33 years$1,778$1,227$828$547$356$214
34 years$1,707$1,163$773$503$323$191
35 years$1,640$1,103$723$463$292$169
36 years$1,577$1,047$676$427$265$150
37 years$1,518$995$633$393$240$134
38 years$1,461$945$593$362$218$119
39 years$1,408$899$555$334$197$106
40 years$1,358$855$521$308$179$94
41 years$1,310$814$488$284$162$84
42 years$1,264$775$458$262$147$74
43 years$1,221$739$430$242$134$66
44 years$1,180$704$403$224$121$59
45 years$1,141$671$379$207$110$52
46 years$1,103$641$356$191$100$47
47 years$1,067$611$334$176$91$42
48 years$1,033$584$314$163$82$37
49 years$1,001$557$295$151$75$33
50 years$970$532$277$139$68$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $993,000, adding $4,604 every year, while hoping to spend $48,429 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: 59/20/21 Blend
63$993,000$993,000$993,000$993,000
64$1,099,035$1,046,406$1,031,015$1,157,507
65$1,159,609$1,046,152$1,014,025$1,197,484
66$1,224,737$1,044,262$994,844$1,235,395
67$1,294,835$1,040,605$973,346$1,275,667
68$1,370,356$1,035,043$949,400$1,318,538
69$1,451,798$1,027,426$922,872$1,364,272
70$1,539,710$1,017,598$893,616$1,413,161
71$1,634,694$1,005,394$861,486$1,465,529
72$1,737,411$990,636$826,324$1,521,737
73$1,848,588$973,139$787,967$1,582,182
74$1,969,025$952,704$746,245$1,647,305
75$2,099,601$929,122$700,979$1,717,597
76$2,241,283$902,171$651,984$1,793,598
77$2,395,133$871,616$599,065$1,875,908
78$2,562,320$837,209$542,018$1,965,192
79$2,744,132$798,688$480,630$2,062,184
80$2,941,982$755,773$414,681$2,167,699
81$3,157,429$708,170$343,937$2,282,636
82$3,392,186$655,569$268,158$2,407,993
83$3,648,137$597,641$187,090$2,544,871
84$3,927,360$534,037$100,469$2,694,491
85$4,232,136$464,391$8,021$2,858,200
86$4,564,982$388,314$0$3,037,489
87$4,928,665$305,396$0$3,254,317
88$5,326,232$215,204$0$3,493,436
89$5,761,039$117,280$0$3,755,130
90$6,236,779$11,141$0$4,041,700
91$6,757,521$0$0$4,355,684
92$7,327,742$0$0$4,722,707
93$7,952,376$0$0$5,127,520
94$8,636,855$0$0$5,571,201
95$9,387,161$0$0$6,057,639
96$10,209,882$0$0$6,591,116
97$11,112,276$0$0$7,176,350
98$12,102,335$0$0$7,818,534
99$13,188,863$0$0$8,523,393
100$14,381,558$0$0$9,297,229