Can I retire at age 64 with 988,000?

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 $988,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$81,588$80,861$80,152$79,460$78,785$77,703
2 years$40,390$39,638$38,909$38,202$37,516$36,429
3 years$26,659$25,904$25,177$24,476$23,802$22,742
4 years$19,795$19,042$18,322$17,634$16,976$15,952
5 years$15,678$14,929$14,219$13,545$12,905$11,920
6 years$12,934$12,191$11,491$10,832$10,211$9,266
7 years$10,975$10,238$9,549$8,905$8,304$7,399
8 years$9,506$8,776$8,098$7,470$6,889$6,024
9 years$8,364$7,641$6,975$6,363$5,802$4,977
10 years$7,451$6,735$6,081$5,485$4,943$4,157
11 years$6,705$5,996$5,354$4,774$4,251$3,504
12 years$6,083$5,382$4,751$4,187$3,684$2,974
13 years$5,558$4,863$4,245$3,697$3,213$2,539
14 years$5,108$4,421$3,814$3,281$2,816$2,178
15 years$4,718$4,038$3,444$2,926$2,480$1,876
16 years$4,377$3,705$3,122$2,620$2,192$1,621
17 years$4,077$3,412$2,841$2,354$1,943$1,405
18 years$3,810$3,153$2,593$2,122$1,728$1,221
19 years$3,572$2,922$2,374$1,917$1,540$1,063
20 years$3,358$2,715$2,179$1,736$1,376$927
21 years$3,164$2,529$2,004$1,576$1,231$809
22 years$2,989$2,361$1,847$1,433$1,103$708
23 years$2,829$2,208$1,706$1,305$990$620
24 years$2,682$2,069$1,577$1,190$890$543
25 years$2,547$1,942$1,461$1,087$801$477
26 years$2,423$1,825$1,355$994$722$418
27 years$2,308$1,717$1,258$910$651$368
28 years$2,202$1,618$1,170$833$587$323
29 years$2,103$1,527$1,088$764$530$284
30 years$2,011$1,442$1,014$701$479$250
31 years$1,925$1,363$945$644$433$220
32 years$1,845$1,290$882$592$392$194
33 years$1,769$1,221$823$544$354$171
34 years$1,699$1,158$769$501$321$150
35 years$1,632$1,098$719$461$291$132
36 years$1,569$1,042$673$425$263$117
37 years$1,510$990$630$391$239$103
38 years$1,454$941$590$361$216$91
39 years$1,401$894$553$333$196$80
40 years$1,351$851$518$307$178$70
41 years$1,303$810$486$283$161$62
42 years$1,258$771$456$261$147$55
43 years$1,215$735$427$241$133$48
44 years$1,174$701$401$223$121$43
45 years$1,135$668$377$206$110$38
46 years$1,098$637$354$190$100$33
47 years$1,062$608$332$175$90$29
48 years$1,028$581$312$162$82$26
49 years$996$554$294$150$75$23
50 years$965$530$276$138$68$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $988,000, adding $3,172 every year, while hoping to spend $21,195 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: 63/18/19 Blend
63$988,000$988,000$988,000$988,000
64$1,092,048$1,039,684$1,024,370$1,155,369
65$1,180,885$1,068,077$1,036,135$1,226,768
66$1,278,074$1,097,151$1,047,584$1,302,037
67$1,384,443$1,126,917$1,058,683$1,383,743
68$1,500,906$1,157,386$1,069,399$1,472,516
69$1,628,469$1,188,568$1,079,694$1,569,048
70$1,768,239$1,220,474$1,089,530$1,674,105
71$1,921,435$1,253,113$1,098,865$1,788,525
72$2,089,402$1,286,497$1,107,658$1,913,236
73$2,273,620$1,320,633$1,115,863$2,049,258
74$2,475,717$1,355,532$1,123,432$2,197,714
75$2,697,488$1,391,202$1,130,316$2,359,842
76$2,940,912$1,427,650$1,136,461$2,537,008
77$3,208,166$1,464,886$1,141,813$2,730,713
78$3,501,649$1,502,916$1,146,314$2,942,613
79$3,824,004$1,541,745$1,149,903$3,174,532
80$4,178,143$1,581,381$1,152,515$3,428,480
81$4,567,273$1,621,828$1,154,084$3,706,673
82$4,994,927$1,663,090$1,154,538$4,011,549
83$5,464,999$1,705,171$1,153,804$4,345,798
84$5,981,776$1,748,072$1,151,804$4,712,382
85$6,549,984$1,791,794$1,148,456$5,114,566
86$7,174,829$1,836,338$1,143,675$5,555,948
87$7,862,045$1,881,702$1,137,372$6,040,491
88$8,617,951$1,927,884$1,129,452$6,572,563
89$9,449,511$1,974,879$1,119,817$7,156,978
90$10,364,394$2,022,681$1,108,364$7,799,041
91$11,371,053$2,071,283$1,094,985$8,504,596
92$12,478,800$2,120,675$1,079,567$9,280,086
93$13,697,896$2,170,847$1,061,991$10,132,608
94$15,039,647$2,221,784$1,042,133$11,069,985
95$16,516,510$2,273,470$1,019,864$12,100,837
96$18,142,212$2,325,889$995,047$13,234,665
97$19,931,878$2,379,018$967,542$14,481,937
98$21,902,173$2,432,833$937,198$15,854,189
99$24,071,462$2,487,309$903,861$17,364,136
100$26,459,979$2,542,415$867,368$19,025,790