Can I retire at age 64 with 987,000?

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 $987,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$81,506$80,780$80,071$79,380$78,705$77,053
2 years$40,349$39,598$38,870$38,163$37,478$35,822
3 years$26,632$25,878$25,151$24,452$23,778$22,168
4 years$19,775$19,023$18,304$17,616$16,959$15,409
5 years$15,662$14,914$14,204$13,531$12,892$11,406
6 years$12,921$12,178$11,479$10,821$10,201$8,780
7 years$10,963$10,227$9,539$8,896$8,296$6,941
8 years$9,496$8,767$8,090$7,463$6,882$5,593
9 years$8,356$7,633$6,968$6,357$5,796$4,571
10 years$7,444$6,728$6,075$5,480$4,938$3,777
11 years$6,698$5,990$5,348$4,769$4,247$3,147
12 years$6,077$5,376$4,746$4,183$3,680$2,640
13 years$5,552$4,858$4,241$3,693$3,209$2,228
14 years$5,102$4,416$3,810$3,278$2,813$1,888
15 years$4,713$4,034$3,440$2,924$2,477$1,606
16 years$4,373$3,701$3,119$2,618$2,189$1,371
17 years$4,073$3,409$2,838$2,352$1,941$1,173
18 years$3,806$3,150$2,591$2,120$1,726$1,006
19 years$3,568$2,919$2,372$1,915$1,538$864
20 years$3,355$2,713$2,177$1,735$1,374$743
21 years$3,161$2,527$2,002$1,574$1,230$640
22 years$2,986$2,359$1,845$1,431$1,102$552
23 years$2,826$2,206$1,704$1,304$989$477
24 years$2,679$2,067$1,576$1,189$889$412
25 years$2,545$1,940$1,459$1,086$800$356
26 years$2,421$1,823$1,354$993$721$308
27 years$2,306$1,716$1,257$909$650$267
28 years$2,200$1,617$1,168$833$586$231
29 years$2,101$1,525$1,087$764$530$200
30 years$2,009$1,440$1,013$701$478$174
31 years$1,923$1,362$944$644$433$151
32 years$1,843$1,288$881$591$391$131
33 years$1,768$1,220$823$544$354$113
34 years$1,697$1,156$769$500$321$98
35 years$1,630$1,097$719$461$290$85
36 years$1,568$1,041$672$424$263$74
37 years$1,508$989$629$391$238$64
38 years$1,452$940$589$360$216$56
39 years$1,400$893$552$332$196$48
40 years$1,349$850$517$306$178$42
41 years$1,302$809$485$283$161$37
42 years$1,257$771$455$261$146$32
43 years$1,214$734$427$241$133$28
44 years$1,173$700$401$222$121$24
45 years$1,134$667$376$205$109$21
46 years$1,097$637$354$190$99$18
47 years$1,061$608$332$175$90$16
48 years$1,027$580$312$162$82$14
49 years$995$554$293$150$74$12
50 years$964$529$276$138$68$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $987,000, adding $3,359 every year, while hoping to spend $31,586 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: 42/35/23 Blend
63$987,000$987,000$987,000$987,000
64$1,091,139$1,038,828$1,023,529$1,129,492
65$1,168,828$1,056,123$1,024,210$1,174,471
66$1,253,382$1,073,207$1,023,855$1,219,866
67$1,345,469$1,090,037$1,022,397$1,268,393
68$1,445,823$1,106,564$1,019,763$1,320,359
69$1,555,251$1,122,740$1,015,879$1,376,101
70$1,674,642$1,138,509$1,010,666$1,435,992
71$1,804,975$1,153,816$1,004,043$1,500,444
72$1,947,326$1,168,597$995,922$1,569,913
73$2,102,882$1,182,787$986,214$1,644,902
74$2,272,948$1,196,315$974,825$1,725,967
75$2,458,962$1,209,107$961,654$1,813,722
76$2,662,505$1,221,083$946,598$1,908,845
77$2,885,320$1,232,156$929,549$2,012,087
78$3,129,327$1,242,235$910,393$2,124,274
79$3,396,638$1,251,225$889,011$2,246,321
80$3,689,580$1,259,020$865,279$2,379,238
81$4,010,717$1,265,512$839,065$2,524,140
82$4,362,872$1,270,583$810,235$2,682,257
83$4,749,152$1,274,109$778,645$2,854,950
84$5,172,983$1,275,957$744,147$3,043,720
85$5,638,136$1,275,988$706,585$3,250,223
86$6,148,766$1,274,052$665,796$3,476,290
87$6,709,450$1,269,991$621,610$3,723,940
88$7,325,230$1,263,636$573,850$3,995,403
89$8,001,659$1,254,809$522,329$4,293,140
90$8,744,854$1,243,322$466,854$4,619,867
91$9,561,558$1,228,972$407,221$4,978,583
92$10,459,194$1,211,549$343,220$5,372,595
93$11,445,943$1,190,826$274,629$5,805,554
94$12,530,817$1,166,565$201,218$6,281,491
95$13,723,747$1,138,513$122,745$6,804,850
96$15,035,671$1,106,402$38,959$7,380,536
97$16,478,642$1,069,949$0$8,013,963
98$18,065,941$1,028,854$0$8,723,484
99$19,812,198$982,799$0$9,514,312
100$21,733,535$931,448$0$10,384,213