Can I retire at age 64 with 998,000?

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 $998,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$82,414$81,680$80,964$80,265$79,582$78,948
2 years$40,799$40,039$39,303$38,589$37,896$37,257
3 years$26,929$26,166$25,431$24,724$24,043$23,419
4 years$19,996$19,235$18,508$17,812$17,148$16,543
5 years$15,837$15,080$14,363$13,682$13,035$12,452
6 years$13,065$12,314$11,607$10,941$10,314$9,753
7 years$11,086$10,341$9,646$8,995$8,388$7,849
8 years$9,602$8,865$8,180$7,546$6,959$6,442
9 years$8,449$7,718$7,046$6,428$5,860$5,366
10 years$7,527$6,803$6,143$5,541$4,993$4,521
11 years$6,773$6,056$5,408$4,822$4,294$3,843
12 years$6,145$5,436$4,799$4,230$3,722$3,291
13 years$5,614$4,913$4,288$3,734$3,245$2,836
14 years$5,159$4,465$3,853$3,315$2,845$2,455
15 years$4,766$4,079$3,478$2,956$2,505$2,135
16 years$4,422$3,743$3,154$2,647$2,214$1,863
17 years$4,118$3,447$2,870$2,378$1,963$1,630
18 years$3,849$3,185$2,620$2,143$1,745$1,431
19 years$3,608$2,952$2,398$1,937$1,556$1,258
20 years$3,392$2,743$2,201$1,754$1,389$1,108
21 years$3,196$2,555$2,024$1,592$1,243$978
22 years$3,019$2,385$1,866$1,447$1,115$865
23 years$2,857$2,231$1,723$1,318$1,000$765
24 years$2,709$2,090$1,593$1,202$899$678
25 years$2,573$1,961$1,476$1,098$809$601
26 years$2,448$1,843$1,369$1,004$729$534
27 years$2,332$1,735$1,271$919$657$474
28 years$2,224$1,635$1,181$842$593$421
29 years$2,124$1,542$1,099$772$535$375
30 years$2,031$1,456$1,024$709$484$334
31 years$1,945$1,377$955$651$437$297
32 years$1,863$1,303$891$598$396$264
33 years$1,787$1,234$832$550$358$236
34 years$1,716$1,169$777$506$324$210
35 years$1,648$1,109$727$466$294$187
36 years$1,585$1,053$680$429$266$167
37 years$1,525$1,000$636$395$241$149
38 years$1,469$950$596$364$219$133
39 years$1,415$903$558$336$198$119
40 years$1,364$860$523$310$180$106
41 years$1,316$818$491$286$163$94
42 years$1,271$779$460$264$148$84
43 years$1,227$742$432$244$134$75
44 years$1,186$708$405$225$122$67
45 years$1,146$675$381$208$111$60
46 years$1,109$644$357$192$101$54
47 years$1,073$614$336$177$91$48
48 years$1,039$587$316$164$83$43
49 years$1,006$560$297$151$75$38
50 years$974$535$279$140$68$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $998,000, adding $6,883 every year, while hoping to spend $42,657 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: 33/49/18 Blend
63$998,000$998,000$998,000$998,000
64$1,106,896$1,054,002$1,038,533$1,137,047
65$1,174,412$1,060,261$1,027,937$1,166,190
66$1,247,386$1,065,398$1,015,556$1,193,156
67$1,326,328$1,069,311$1,001,286$1,221,315
68$1,411,802$1,071,895$985,017$1,250,796
69$1,504,424$1,073,036$966,634$1,281,746
70$1,604,875$1,072,615$946,016$1,314,327
71$1,713,903$1,070,504$923,038$1,348,723
72$1,832,330$1,066,567$897,569$1,385,138
73$1,961,060$1,060,661$869,470$1,423,802
74$2,101,088$1,052,634$838,597$1,464,972
75$2,253,509$1,042,323$804,800$1,508,934
76$2,419,527$1,029,557$767,921$1,556,011
77$2,600,468$1,014,154$727,796$1,606,558
78$2,797,791$995,923$684,252$1,660,977
79$3,013,101$974,659$637,110$1,719,713
80$3,248,166$950,146$586,181$1,783,263
81$3,504,931$922,155$531,270$1,852,181
82$3,785,537$890,444$472,172$1,927,082
83$4,092,344$854,757$408,671$2,008,653
84$4,427,946$814,823$340,544$2,097,657
85$4,795,202$770,355$267,558$2,194,943
86$5,197,260$721,050$189,468$2,301,454
87$5,637,585$666,586$106,021$2,418,239
88$6,119,995$606,625$16,949$2,546,462
89$6,648,694$540,809$0$2,687,416
90$7,228,310$468,758$0$2,857,538
91$7,863,942$390,072$0$3,047,867
92$8,561,207$304,328$0$3,256,969
93$9,326,290$211,080$0$3,486,865
94$10,166,005$109,856$0$3,739,788
95$11,087,856$157$0$4,018,213
96$12,100,110$0$0$4,324,873
97$13,211,876$0$0$4,726,713
98$14,433,184$0$0$5,168,400
99$15,775,087$0$0$5,653,865
100$17,249,761$0$0$6,187,533