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%17.1%
1 years$82,414$81,680$80,964$80,265$79,582$77,282
2 years$40,799$40,039$39,303$38,589$37,896$35,598
3 years$26,929$26,166$25,431$24,724$24,043$21,817
4 years$19,996$19,235$18,508$17,812$17,148$15,012
5 years$15,837$15,080$14,363$13,682$13,035$10,996
6 years$13,065$12,314$11,607$10,941$10,314$8,373
7 years$11,086$10,341$9,646$8,995$8,388$6,545
8 years$9,602$8,865$8,180$7,546$6,959$5,212
9 years$8,449$7,718$7,046$6,428$5,860$4,209
10 years$7,527$6,803$6,143$5,541$4,993$3,434
11 years$6,773$6,056$5,408$4,822$4,294$2,826
12 years$6,145$5,436$4,799$4,230$3,722$2,340
13 years$5,614$4,913$4,288$3,734$3,245$1,948
14 years$5,159$4,465$3,853$3,315$2,845$1,628
15 years$4,766$4,079$3,478$2,956$2,505$1,366
16 years$4,422$3,743$3,154$2,647$2,214$1,149
17 years$4,118$3,447$2,870$2,378$1,963$969
18 years$3,849$3,185$2,620$2,143$1,745$819
19 years$3,608$2,952$2,398$1,937$1,556$693
20 years$3,392$2,743$2,201$1,754$1,389$587
21 years$3,196$2,555$2,024$1,592$1,243$498
22 years$3,019$2,385$1,866$1,447$1,115$423
23 years$2,857$2,231$1,723$1,318$1,000$360
24 years$2,709$2,090$1,593$1,202$899$306
25 years$2,573$1,961$1,476$1,098$809$260
26 years$2,448$1,843$1,369$1,004$729$222
27 years$2,332$1,735$1,271$919$657$189
28 years$2,224$1,635$1,181$842$593$161
29 years$2,124$1,542$1,099$772$535$137
30 years$2,031$1,456$1,024$709$484$117
31 years$1,945$1,377$955$651$437$100
32 years$1,863$1,303$891$598$396$85
33 years$1,787$1,234$832$550$358$73
34 years$1,716$1,169$777$506$324$62
35 years$1,648$1,109$727$466$294$53
36 years$1,585$1,053$680$429$266$45
37 years$1,525$1,000$636$395$241$39
38 years$1,469$950$596$364$219$33
39 years$1,415$903$558$336$198$28
40 years$1,364$860$523$310$180$24
41 years$1,316$818$491$286$163$20
42 years$1,271$779$460$264$148$17
43 years$1,227$742$432$244$134$15
44 years$1,186$708$405$225$122$13
45 years$1,146$675$381$208$111$11
46 years$1,109$644$357$192$101$9
47 years$1,073$614$336$177$91$8
48 years$1,039$587$316$164$83$7
49 years$1,006$560$297$151$75$6
50 years$974$535$279$140$68$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $998,000, adding $6,867 every year, while hoping to spend $33,559 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: 36/50/14 Blend
63$998,000$998,000$998,000$998,000
64$1,106,879$1,053,985$1,038,516$1,141,733
65$1,184,074$1,069,924$1,037,600$1,183,405
66$1,268,019$1,085,519$1,035,528$1,224,661
67$1,359,365$1,100,718$1,032,227$1,268,471
68$1,458,832$1,115,465$1,027,619$1,315,078
69$1,567,211$1,129,700$1,021,621$1,364,754
70$1,685,370$1,143,360$1,014,150$1,417,798
71$1,814,269$1,156,375$1,005,114$1,474,540
72$1,954,960$1,168,673$994,421$1,535,348
73$2,108,604$1,180,176$981,973$1,600,626
74$2,276,479$1,190,802$967,666$1,670,823
75$2,459,989$1,200,461$951,393$1,746,435
76$2,660,685$1,209,060$933,041$1,828,011
77$2,880,269$1,216,498$912,492$1,916,157
78$3,120,618$1,222,669$889,623$2,011,543
79$3,383,801$1,227,459$864,304$2,114,913
80$3,672,091$1,230,747$836,401$2,227,085
81$3,987,996$1,232,406$805,772$2,348,967
82$4,334,276$1,232,298$772,270$2,481,561
83$4,713,971$1,230,279$735,739$2,625,975
84$5,130,429$1,226,196$696,020$2,783,433
85$5,587,338$1,219,885$652,942$2,955,289
86$6,088,761$1,211,173$606,330$3,143,037
87$6,639,171$1,199,877$555,998$3,348,331
88$7,243,498$1,185,803$501,756$3,572,996
89$7,907,171$1,168,743$443,401$3,819,048
90$8,636,171$1,148,480$380,723$4,088,717
91$9,437,086$1,124,782$313,504$4,384,461
92$10,317,176$1,097,404$241,513$4,709,000
93$11,284,437$1,066,085$164,512$5,065,335
94$12,347,677$1,030,551$82,252$5,456,781
95$13,516,604$990,511$0$5,886,998
96$14,801,909$945,658$0$6,360,854
97$16,215,373$895,665$0$6,895,150
98$17,769,977$840,188$0$7,482,556
99$19,480,020$778,862$0$8,128,552
100$21,361,258$711,303$0$8,839,188