Can I retire at age 64 with 985,000?

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 $985,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$81,340$80,616$79,909$79,219$78,545$77,693
2 years$40,268$39,518$38,791$38,086$37,403$36,544
3 years$26,578$25,825$25,100$24,402$23,730$22,892
4 years$19,735$18,984$18,267$17,580$16,924$16,114
5 years$15,630$14,884$14,176$13,503$12,866$12,085
6 years$12,895$12,154$11,456$10,799$10,180$9,430
7 years$10,941$10,207$9,520$8,878$8,279$7,560
8 years$9,477$8,749$8,074$7,448$6,868$6,180
9 years$8,339$7,618$6,954$6,344$5,784$5,126
10 years$7,429$6,715$6,063$5,468$4,928$4,301
11 years$6,684$5,978$5,337$4,759$4,239$3,640
12 years$6,065$5,365$4,737$4,174$3,673$3,104
13 years$5,541$4,849$4,232$3,685$3,203$2,662
14 years$5,092$4,407$3,802$3,271$2,808$2,294
15 years$4,704$4,026$3,433$2,918$2,472$1,986
16 years$4,364$3,694$3,113$2,612$2,185$1,724
17 years$4,065$3,402$2,832$2,347$1,937$1,502
18 years$3,799$3,143$2,586$2,115$1,723$1,311
19 years$3,561$2,913$2,367$1,911$1,535$1,147
20 years$3,348$2,707$2,172$1,731$1,371$1,006
21 years$3,155$2,522$1,998$1,571$1,227$883
22 years$2,980$2,354$1,842$1,428$1,100$776
23 years$2,820$2,202$1,700$1,301$987$683
24 years$2,674$2,063$1,573$1,187$888$602
25 years$2,539$1,936$1,456$1,084$799$531
26 years$2,416$1,819$1,351$991$719$469
27 years$2,301$1,712$1,254$907$649$414
28 years$2,195$1,613$1,166$831$585$366
29 years$2,097$1,522$1,085$762$528$324
30 years$2,005$1,437$1,011$699$477$287
31 years$1,919$1,359$942$642$432$254
32 years$1,839$1,286$879$590$391$225
33 years$1,764$1,218$821$543$353$199
34 years$1,693$1,154$767$499$320$176
35 years$1,627$1,095$717$460$290$156
36 years$1,564$1,039$671$423$263$139
37 years$1,505$987$628$390$238$123
38 years$1,450$938$588$360$216$109
39 years$1,397$892$551$332$196$97
40 years$1,347$848$516$306$177$86
41 years$1,299$808$484$282$161$76
42 years$1,254$769$454$260$146$67
43 years$1,211$733$426$240$133$60
44 years$1,170$698$400$222$120$53
45 years$1,131$666$376$205$109$47
46 years$1,094$635$353$189$99$42
47 years$1,059$606$331$175$90$37
48 years$1,025$579$311$162$82$33
49 years$993$553$293$149$74$29
50 years$962$528$275$138$67$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $985,000, adding $4,142 every year, while hoping to spend $26,949 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: 62/32/6 Blend
63$985,000$985,000$985,000$985,000
64$1,089,742$1,037,537$1,022,270$1,155,881
65$1,172,223$1,059,703$1,027,842$1,222,688
66$1,262,213$1,082,052$1,032,698$1,292,049
67$1,360,450$1,104,564$1,036,785$1,367,054
68$1,467,746$1,127,218$1,040,048$1,448,248
69$1,584,996$1,149,991$1,042,429$1,536,230
70$1,713,182$1,172,858$1,043,867$1,631,659
71$1,853,389$1,195,790$1,044,299$1,735,264
72$2,006,809$1,218,758$1,043,657$1,847,845
73$2,174,755$1,241,729$1,041,872$1,970,283
74$2,358,674$1,264,668$1,038,869$2,103,552
75$2,560,159$1,287,537$1,034,571$2,248,722
76$2,780,964$1,310,295$1,028,898$2,406,972
77$3,023,021$1,332,897$1,021,764$2,579,602
78$3,288,457$1,355,297$1,013,081$2,768,045
79$3,579,615$1,377,443$1,002,755$2,973,879
80$3,899,078$1,399,279$990,689$3,198,844
81$4,249,687$1,420,747$976,781$3,444,854
82$4,634,575$1,441,784$960,923$3,714,024
83$5,057,192$1,462,321$943,003$4,008,678
84$5,521,336$1,482,286$922,905$4,331,384
85$6,031,196$1,501,601$900,506$4,684,967
86$6,591,381$1,520,183$875,676$5,072,542
87$7,206,973$1,537,943$848,282$5,497,542
88$7,883,568$1,554,786$818,184$5,963,751
89$8,627,333$1,570,611$785,234$6,475,339
90$9,445,061$1,585,311$749,279$7,036,902
91$10,344,236$1,598,770$710,158$7,653,505
92$11,333,103$1,610,865$667,704$8,330,730
93$12,420,748$1,621,466$621,741$9,074,730
94$13,617,181$1,630,434$572,085$9,892,286
95$14,933,429$1,637,621$518,546$10,790,872
96$16,381,645$1,642,870$460,923$11,778,725
97$17,975,216$1,646,015$399,008$12,864,924
98$19,728,895$1,646,876$332,581$14,059,475
99$21,658,936$1,645,266$261,416$15,373,406
100$23,783,248$1,640,985$185,274$16,818,872