Can I retire at age 64 with 995,000?

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 $995,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$82,166$81,434$80,720$80,023$79,343$77,551
2 years$40,676$39,919$39,185$38,473$37,782$35,986
3 years$26,848$26,087$25,355$24,650$23,971$22,227
4 years$19,935$19,177$18,452$17,759$17,096$15,418
5 years$15,789$15,035$14,319$13,640$12,996$11,389
6 years$13,025$12,277$11,572$10,908$10,283$8,748
7 years$11,052$10,310$9,617$8,968$8,363$6,900
8 years$9,573$8,838$8,156$7,523$6,938$5,547
9 years$8,423$7,695$7,024$6,408$5,843$4,522
10 years$7,504$6,783$6,124$5,524$4,978$3,727
11 years$6,752$6,038$5,392$4,808$4,282$3,098
12 years$6,126$5,420$4,785$4,217$3,710$2,593
13 years$5,597$4,898$4,275$3,723$3,235$2,182
14 years$5,144$4,452$3,841$3,305$2,836$1,844
15 years$4,751$4,067$3,468$2,947$2,497$1,564
16 years$4,408$3,731$3,144$2,639$2,207$1,331
17 years$4,106$3,436$2,861$2,371$1,957$1,136
18 years$3,837$3,175$2,612$2,137$1,740$971
19 years$3,597$2,943$2,391$1,931$1,551$832
20 years$3,382$2,735$2,194$1,749$1,385$713
21 years$3,187$2,547$2,018$1,587$1,240$613
22 years$3,010$2,378$1,860$1,443$1,111$527
23 years$2,849$2,224$1,718$1,314$997$454
24 years$2,701$2,084$1,588$1,199$897$391
25 years$2,565$1,955$1,471$1,095$807$337
26 years$2,440$1,838$1,365$1,001$727$291
27 years$2,325$1,730$1,267$916$655$251
28 years$2,218$1,630$1,178$839$591$216
29 years$2,118$1,537$1,096$770$534$187
30 years$2,025$1,452$1,021$706$482$162
31 years$1,939$1,373$952$649$436$140
32 years$1,858$1,299$888$596$394$121
33 years$1,782$1,230$829$548$357$104
34 years$1,711$1,166$775$504$323$90
35 years$1,644$1,106$724$464$293$78
36 years$1,580$1,049$678$428$265$68
37 years$1,521$997$634$394$240$58
38 years$1,464$947$594$363$218$51
39 years$1,411$901$556$335$198$44
40 years$1,360$857$522$309$179$38
41 years$1,312$816$489$285$163$33
42 years$1,267$777$459$263$148$28
43 years$1,223$740$430$243$134$25
44 years$1,182$706$404$224$122$21
45 years$1,143$673$379$207$110$18
46 years$1,105$642$356$191$100$16
47 years$1,070$613$335$177$91$14
48 years$1,035$585$315$163$83$12
49 years$1,003$558$296$151$75$10
50 years$971$533$278$139$68$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $995,000, adding $5,345 every year, while hoping to spend $41,187 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: 81/5/14 Blend
63$995,000$995,000$995,000$995,000
64$1,102,003$1,049,268$1,033,846$1,187,797
65$1,170,585$1,056,860$1,024,657$1,252,511
66$1,244,782$1,063,443$1,013,780$1,317,636
67$1,325,122$1,068,925$1,001,115$1,387,932
68$1,412,189$1,073,206$986,556$1,463,900
69$1,506,622$1,076,183$969,995$1,546,088
70$1,609,124$1,077,742$951,317$1,635,103
71$1,720,469$1,077,766$930,400$1,731,611
72$1,841,509$1,076,128$907,121$1,836,349
73$1,973,179$1,072,695$881,346$1,950,125
74$2,116,511$1,067,325$852,938$2,073,833
75$2,272,638$1,059,867$821,755$2,208,456
76$2,442,807$1,050,161$787,644$2,355,077
77$2,628,392$1,038,037$750,448$2,514,890
78$2,830,904$1,023,317$710,004$2,689,212
79$3,052,007$1,005,809$666,140$2,879,493
80$3,293,530$985,313$618,674$3,087,330
81$3,557,491$961,614$567,421$3,314,485
82$3,846,109$934,487$512,183$3,562,900
83$4,161,827$903,692$452,756$3,834,712
84$4,507,336$868,975$388,925$4,132,280
85$4,885,598$830,069$320,468$4,458,202
86$5,299,876$786,689$247,151$4,815,342
87$5,753,763$738,536$168,730$5,206,856
88$6,251,215$685,293$84,951$5,636,222
89$6,796,590$626,624$0$6,107,275
90$7,394,688$562,174$0$6,624,905
91$8,050,794$491,568$0$7,206,691
92$8,770,731$414,412$0$7,845,105
93$9,560,913$330,285$0$8,545,849
94$10,428,404$238,746$0$9,315,207
95$11,380,985$139,329$0$10,160,099
96$12,427,230$31,540$0$11,088,152
97$13,576,581$0$0$12,107,768
98$14,839,442$0$0$13,232,887
99$16,227,273$0$0$14,471,281
100$17,752,700$0$0$15,832,482