Can I retire at age 64 with 979,000?

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 $979,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$80,845$80,125$79,422$78,736$78,067$77,413
2 years$40,022$39,277$38,554$37,854$37,175$36,515
3 years$26,416$25,668$24,947$24,253$23,585$22,941
4 years$19,615$18,869$18,155$17,473$16,821$16,197
5 years$15,535$14,793$14,089$13,421$12,787$12,186
6 years$12,816$12,080$11,386$10,733$10,118$9,539
7 years$10,875$10,145$9,462$8,824$8,229$7,673
8 years$9,419$8,696$8,024$7,402$6,826$6,294
9 years$8,288$7,571$6,911$6,305$5,749$5,239
10 years$7,383$6,674$6,026$5,435$4,898$4,411
11 years$6,644$5,941$5,305$4,730$4,213$3,748
12 years$6,028$5,332$4,708$4,149$3,651$3,208
13 years$5,507$4,819$4,206$3,663$3,183$2,762
14 years$5,061$4,380$3,779$3,252$2,791$2,390
15 years$4,675$4,002$3,412$2,900$2,457$2,077
16 years$4,337$3,671$3,094$2,596$2,172$1,811
17 years$4,040$3,381$2,815$2,333$1,925$1,584
18 years$3,776$3,124$2,570$2,102$1,712$1,389
19 years$3,540$2,896$2,353$1,900$1,526$1,220
20 years$3,327$2,691$2,159$1,721$1,363$1,074
21 years$3,136$2,506$1,986$1,562$1,220$948
22 years$2,961$2,340$1,830$1,420$1,093$837
23 years$2,803$2,188$1,690$1,293$981$740
24 years$2,657$2,050$1,563$1,179$882$655
25 years$2,524$1,924$1,448$1,077$794$581
26 years$2,401$1,808$1,343$985$715$515
27 years$2,287$1,702$1,247$901$645$457
28 years$2,182$1,604$1,159$826$582$406
29 years$2,084$1,513$1,079$757$525$361
30 years$1,993$1,429$1,005$695$475$321
31 years$1,908$1,351$937$638$429$285
32 years$1,828$1,278$874$587$388$254
33 years$1,753$1,210$816$539$351$226
34 years$1,683$1,147$762$496$318$201
35 years$1,617$1,088$713$457$288$179
36 years$1,555$1,033$667$421$261$160
37 years$1,496$981$624$388$237$142
38 years$1,441$932$584$357$214$127
39 years$1,388$886$548$330$194$113
40 years$1,338$843$513$304$176$101
41 years$1,291$803$481$280$160$90
42 years$1,246$764$451$259$145$80
43 years$1,204$728$424$239$132$72
44 years$1,163$694$398$221$120$64
45 years$1,125$662$373$204$109$57
46 years$1,088$632$351$188$99$51
47 years$1,052$603$329$174$90$45
48 years$1,019$575$310$161$81$40
49 years$987$549$291$148$74$36
50 years$956$525$274$137$67$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $979,000, adding $3,135 every year, while hoping to spend $48,236 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: 66/18/16 Blend
63$979,000$979,000$979,000$979,000
64$1,082,092$1,030,205$1,015,030$1,149,132
65$1,141,142$1,029,362$997,711$1,193,504
66$1,204,600$1,026,861$978,195$1,236,090
67$1,272,862$1,022,571$956,358$1,281,453
68$1,346,366$1,016,349$932,068$1,329,864
69$1,425,594$1,008,049$905,191$1,381,621
70$1,511,073$997,512$875,584$1,437,055
71$1,603,383$984,571$843,096$1,496,532
72$1,703,162$969,048$807,573$1,560,457
73$1,811,109$950,756$768,851$1,629,275
74$1,927,995$929,495$726,761$1,703,483
75$2,054,666$905,056$681,123$1,783,626
76$2,192,052$877,215$631,751$1,870,309
77$2,341,179$845,735$578,452$1,964,199
78$2,503,170$810,368$521,021$2,066,036
79$2,679,266$770,848$459,247$2,176,633
80$2,870,827$726,896$392,908$2,296,894
81$3,079,354$678,215$321,773$2,427,815
82$3,306,494$624,495$245,599$2,570,495
83$3,554,064$565,402$164,134$2,726,152
84$3,824,061$500,589$77,115$2,896,129
85$4,118,683$429,686$0$3,081,910
86$4,440,350$352,303$0$3,287,822
87$4,791,727$268,026$0$3,527,213
88$5,175,746$176,422$0$3,788,952
89$5,595,635$77,030$0$4,075,302
90$6,054,950$0$0$4,388,757
91$6,557,605$0$0$4,738,133
92$7,107,909$0$0$5,137,393
93$7,710,610$0$0$5,574,730
94$8,370,934$0$0$6,053,946
95$9,094,636$0$0$6,579,226
96$9,888,057$0$0$7,155,179
97$10,758,178$0$0$7,786,883
98$11,712,691$0$0$8,479,930
99$12,760,065$0$0$9,240,479
100$13,909,630$0$0$10,075,315