Can I retire at age 64 with 996,000?

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 $996,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$82,249$81,516$80,801$80,104$79,422$76,727
2 years$40,717$39,959$39,224$38,511$37,820$35,131
3 years$26,875$26,114$25,380$24,675$23,995$21,397
4 years$19,956$19,196$18,470$17,777$17,113$14,627
5 years$15,805$15,050$14,334$13,654$13,009$10,640
6 years$13,039$12,290$11,584$10,919$10,294$8,045
7 years$11,063$10,321$9,626$8,977$8,372$6,242
8 years$9,583$8,847$8,164$7,531$6,945$4,933
9 years$8,432$7,703$7,032$6,415$5,849$3,952
10 years$7,511$6,790$6,130$5,530$4,983$3,198
11 years$6,759$6,044$5,397$4,812$4,286$2,609
12 years$6,132$5,425$4,790$4,221$3,714$2,142
13 years$5,603$4,903$4,279$3,727$3,239$1,768
14 years$5,149$4,456$3,845$3,308$2,839$1,465
15 years$4,756$4,071$3,471$2,950$2,500$1,217
16 years$4,413$3,735$3,147$2,642$2,209$1,015
17 years$4,110$3,440$2,864$2,373$1,959$847
18 years$3,841$3,179$2,614$2,139$1,742$709
19 years$3,601$2,946$2,393$1,933$1,552$594
20 years$3,385$2,737$2,197$1,750$1,387$499
21 years$3,190$2,550$2,020$1,589$1,241$419
22 years$3,013$2,380$1,862$1,444$1,112$352
23 years$2,851$2,226$1,719$1,315$998$296
24 years$2,704$2,086$1,590$1,200$897$249
25 years$2,568$1,957$1,473$1,096$808$210
26 years$2,443$1,840$1,366$1,002$727$177
27 years$2,327$1,731$1,268$917$656$149
28 years$2,220$1,631$1,179$840$592$126
29 years$2,120$1,539$1,097$770$534$106
30 years$2,027$1,453$1,022$707$483$90
31 years$1,941$1,374$953$649$437$76
32 years$1,860$1,300$889$597$395$64
33 years$1,784$1,231$830$549$357$54
34 years$1,712$1,167$776$505$324$45
35 years$1,645$1,107$725$465$293$38
36 years$1,582$1,050$678$428$266$32
37 years$1,522$998$635$394$241$27
38 years$1,466$948$595$364$218$23
39 years$1,412$902$557$335$198$19
40 years$1,362$858$522$309$179$16
41 years$1,314$817$490$285$163$14
42 years$1,268$778$459$263$148$12
43 years$1,225$741$431$243$134$10
44 years$1,183$706$404$224$122$8
45 years$1,144$674$380$207$110$7
46 years$1,107$643$357$191$100$6
47 years$1,071$613$335$177$91$5
48 years$1,036$585$315$163$83$4
49 years$1,004$559$296$151$75$4
50 years$972$534$278$140$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $996,000, adding $3,610 every year, while hoping to spend $53,835 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: 76/18/6 Blend
63$996,000$996,000$996,000$996,000
64$1,101,316$1,048,528$1,033,090$1,184,090
65$1,156,370$1,042,626$1,010,418$1,233,068
66$1,215,235$1,034,630$985,183$1,279,454
67$1,278,244$1,024,381$957,241$1,328,721
68$1,345,759$1,011,711$926,443$1,381,134
69$1,418,181$996,439$892,634$1,436,984
70$1,495,948$978,376$855,649$1,496,591
71$1,579,539$957,322$815,318$1,560,311
72$1,669,484$933,062$771,462$1,628,533
73$1,766,361$905,371$723,896$1,701,689
74$1,870,807$874,012$672,424$1,780,256
75$1,983,521$838,731$616,842$1,864,759
76$2,105,272$799,260$556,938$1,955,777
77$2,236,903$755,317$492,489$2,053,952
78$2,379,343$706,604$423,263$2,159,989
79$2,533,612$652,803$349,018$2,274,668
80$2,700,830$593,580$269,500$2,398,849
81$2,882,232$528,583$184,446$2,533,484
82$3,079,173$457,437$93,578$2,679,619
83$3,293,145$379,748$0$2,838,413
84$3,525,789$295,099$0$3,011,359
85$3,778,910$203,049$0$3,206,058
86$4,054,495$103,134$0$3,418,088
87$4,354,728$0$0$3,649,187
88$4,682,015$0$0$3,902,288
89$5,039,004$0$0$4,200,675
90$5,428,607$0$0$4,526,358
91$5,854,032$0$0$4,882,024
92$6,318,809$0$0$5,270,627
93$6,826,824$0$0$5,695,423
94$7,382,358$0$0$6,159,994
95$7,990,120$0$0$6,668,287
96$8,655,299$0$0$7,224,645
97$9,383,608$0$0$7,833,851
98$10,181,336$0$0$8,501,173
99$11,055,411$0$0$9,232,413
100$12,013,463$0$0$10,033,959