Can I retire at age 64 with 989,000?

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 $989,000?

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 years$81,671$80,943$80,233$79,541$78,864$77,240
2 years$40,431$39,678$38,948$38,241$37,554$35,926
3 years$26,686$25,930$25,202$24,501$23,826$22,243
4 years$19,815$19,061$18,341$17,652$16,993$15,469
5 years$15,694$14,944$14,233$13,558$12,918$11,456
6 years$12,947$12,203$11,502$10,843$10,221$8,824
7 years$10,986$10,248$9,559$8,914$8,313$6,979
8 years$9,515$8,785$8,106$7,478$6,896$5,627
9 years$8,373$7,649$6,982$6,370$5,808$4,602
10 years$7,459$6,742$6,087$5,491$4,948$3,804
11 years$6,712$6,002$5,359$4,779$4,256$3,172
12 years$6,089$5,387$4,756$4,191$3,688$2,663
13 years$5,563$4,868$4,249$3,700$3,216$2,249
14 years$5,113$4,425$3,818$3,285$2,819$1,907
15 years$4,723$4,042$3,447$2,929$2,482$1,623
16 years$4,382$3,709$3,125$2,623$2,194$1,386
17 years$4,081$3,416$2,844$2,357$1,945$1,187
18 years$3,814$3,156$2,596$2,124$1,730$1,019
19 years$3,576$2,925$2,377$1,919$1,542$876
20 years$3,361$2,718$2,181$1,738$1,377$754
21 years$3,168$2,532$2,006$1,577$1,232$650
22 years$2,992$2,363$1,849$1,434$1,104$561
23 years$2,831$2,210$1,707$1,306$991$485
24 years$2,685$2,071$1,579$1,191$891$419
25 years$2,550$1,944$1,462$1,088$802$363
26 years$2,426$1,827$1,356$995$722$314
27 years$2,311$1,719$1,259$911$651$272
28 years$2,204$1,620$1,171$834$588$236
29 years$2,105$1,528$1,090$765$531$205
30 years$2,013$1,443$1,015$702$479$178
31 years$1,927$1,364$946$645$433$154
32 years$1,847$1,291$883$593$392$134
33 years$1,771$1,223$824$545$355$116
34 years$1,700$1,159$770$501$321$101
35 years$1,634$1,099$720$462$291$88
36 years$1,571$1,043$674$425$264$76
37 years$1,511$991$630$392$239$66
38 years$1,455$942$590$361$217$57
39 years$1,402$895$553$333$196$50
40 years$1,352$852$518$307$178$43
41 years$1,304$811$486$283$162$38
42 years$1,259$772$456$261$147$33
43 years$1,216$736$428$241$133$29
44 years$1,175$701$402$223$121$25
45 years$1,136$669$377$206$110$22
46 years$1,099$638$354$190$100$19
47 years$1,063$609$333$176$90$16
48 years$1,029$581$313$162$82$14
49 years$997$555$294$150$75$12
50 years$966$530$276$139$68$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $989,000, adding $5,626 every year, while hoping to spend $20,515 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: 49/42/9 Blend
63$989,000$989,000$989,000$989,000
64$1,095,681$1,043,264$1,027,935$1,146,474
65$1,185,613$1,072,556$1,040,543$1,211,146
66$1,284,030$1,102,596$1,052,886$1,278,723
67$1,391,776$1,133,399$1,064,933$1,351,648
68$1,509,782$1,164,979$1,076,652$1,430,426
69$1,639,068$1,197,352$1,088,009$1,515,613
70$1,780,764$1,230,533$1,098,968$1,607,821
71$1,936,110$1,264,537$1,109,491$1,707,724
72$2,106,473$1,299,380$1,119,539$1,816,063
73$2,293,359$1,335,075$1,129,069$1,933,653
74$2,498,425$1,371,637$1,138,037$2,061,393
75$2,723,500$1,409,083$1,146,396$2,200,271
76$2,970,595$1,447,426$1,154,098$2,351,376
77$3,241,926$1,486,680$1,161,091$2,515,906
78$3,539,935$1,526,860$1,167,320$2,695,180
79$3,867,313$1,567,980$1,172,730$2,890,653
80$4,227,021$1,610,054$1,177,258$3,103,924
81$4,622,325$1,653,094$1,180,844$3,336,757
82$5,056,820$1,697,114$1,183,421$3,591,093
83$5,534,469$1,742,126$1,184,919$3,869,070
84$6,059,637$1,788,142$1,185,265$4,173,045
85$6,637,132$1,835,173$1,184,384$4,505,611
86$7,272,253$1,883,230$1,182,195$4,869,627
87$7,970,838$1,932,324$1,178,613$5,268,242
88$8,739,318$1,982,462$1,173,551$5,704,926
89$9,584,780$2,033,654$1,166,917$6,183,498
90$10,515,032$2,085,907$1,158,613$6,708,172
91$11,538,676$2,139,228$1,148,537$7,283,584
92$12,665,192$2,193,621$1,136,584$7,914,846
93$13,905,025$2,249,091$1,122,643$8,607,590
94$15,269,681$2,305,641$1,106,595$9,368,019
95$16,771,842$2,363,271$1,088,320$10,202,972
96$18,425,481$2,421,982$1,067,689$11,119,980
97$20,245,992$2,481,771$1,044,569$12,127,343
98$22,250,341$2,542,635$1,018,819$13,234,208
99$24,457,219$2,604,568$990,294$14,450,652
100$26,887,226$2,667,562$958,839$15,787,780