Can I retire at age 64 with 996,000?

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 $996,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$82,249$81,516$80,801$80,104$79,422$76,788
2 years$40,717$39,959$39,224$38,511$37,820$35,192
3 years$26,875$26,114$25,380$24,675$23,995$21,454
4 years$19,956$19,196$18,470$17,777$17,113$14,681
5 years$15,805$15,050$14,334$13,654$13,009$10,691
6 years$13,039$12,290$11,584$10,919$10,294$8,092
7 years$11,063$10,321$9,626$8,977$8,372$6,285
8 years$9,583$8,847$8,164$7,531$6,945$4,973
9 years$8,432$7,703$7,032$6,415$5,849$3,989
10 years$7,511$6,790$6,130$5,530$4,983$3,233
11 years$6,759$6,044$5,397$4,812$4,286$2,641
12 years$6,132$5,425$4,790$4,221$3,714$2,171
13 years$5,603$4,903$4,279$3,727$3,239$1,794
14 years$5,149$4,456$3,845$3,308$2,839$1,488
15 years$4,756$4,071$3,471$2,950$2,500$1,239
16 years$4,413$3,735$3,147$2,642$2,209$1,034
17 years$4,110$3,440$2,864$2,373$1,959$865
18 years$3,841$3,179$2,614$2,139$1,742$725
19 years$3,601$2,946$2,393$1,933$1,552$608
20 years$3,385$2,737$2,197$1,750$1,387$511
21 years$3,190$2,550$2,020$1,589$1,241$430
22 years$3,013$2,380$1,862$1,444$1,112$362
23 years$2,851$2,226$1,719$1,315$998$305
24 years$2,704$2,086$1,590$1,200$897$257
25 years$2,568$1,957$1,473$1,096$808$217
26 years$2,443$1,840$1,366$1,002$727$183
27 years$2,327$1,731$1,268$917$656$155
28 years$2,220$1,631$1,179$840$592$131
29 years$2,120$1,539$1,097$770$534$110
30 years$2,027$1,453$1,022$707$483$93
31 years$1,941$1,374$953$649$437$79
32 years$1,860$1,300$889$597$395$67
33 years$1,784$1,231$830$549$357$56
34 years$1,712$1,167$776$505$324$48
35 years$1,645$1,107$725$465$293$40
36 years$1,582$1,050$678$428$266$34
37 years$1,522$998$635$394$241$29
38 years$1,466$948$595$364$218$24
39 years$1,412$902$557$335$198$21
40 years$1,362$858$522$309$179$17
41 years$1,314$817$490$285$163$15
42 years$1,268$778$459$263$148$12
43 years$1,225$741$431$243$134$11
44 years$1,183$706$404$224$122$9
45 years$1,144$674$380$207$110$8
46 years$1,107$643$357$191$100$6
47 years$1,071$613$335$177$91$5
48 years$1,036$585$315$163$83$5
49 years$1,004$559$296$151$75$4
50 years$972$534$278$140$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $996,000, adding $4,747 every year, while hoping to spend $34,513 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: 84/5/11 Blend
63$996,000$996,000$996,000$996,000
64$1,102,489$1,049,701$1,034,263$1,192,739
65$1,178,221$1,064,414$1,032,189$1,267,200
66$1,260,521$1,078,692$1,028,889$1,343,864
67$1,350,023$1,092,477$1,024,285$1,427,023
68$1,447,423$1,105,706$1,018,296$1,517,310
69$1,553,488$1,118,314$1,010,838$1,615,423
70$1,669,063$1,130,230$1,001,819$1,722,128
71$1,795,075$1,141,379$991,148$1,838,270
72$1,932,548$1,151,681$978,727$1,964,782
73$2,082,605$1,161,051$964,451$2,102,688
74$2,246,486$1,169,398$948,216$2,253,117
75$2,425,553$1,176,624$929,907$2,417,314
76$2,621,308$1,182,627$909,407$2,596,649
77$2,835,403$1,187,298$886,594$2,792,634
78$3,069,657$1,190,518$861,338$3,006,930
79$3,326,074$1,192,166$833,505$3,241,371
80$3,606,860$1,192,108$802,954$3,497,977
81$3,914,445$1,190,206$769,537$3,778,972
82$4,251,502$1,186,311$733,101$4,086,808
83$4,620,980$1,180,265$693,485$4,424,185
84$5,026,124$1,171,901$650,520$4,794,081
85$5,470,506$1,161,042$604,030$5,199,774
86$5,958,065$1,147,501$553,832$5,644,877
87$6,493,136$1,131,077$499,734$6,133,374
88$7,080,496$1,111,560$441,535$6,669,652
89$7,725,406$1,088,725$379,026$7,258,545
90$8,433,662$1,062,337$311,988$7,905,381
91$9,211,649$1,032,145$240,193$8,616,033
92$10,066,399$997,882$163,401$9,396,969
93$11,005,661$959,268$81,365$10,255,319
94$12,037,972$916,005$0$11,198,940
95$13,172,734$867,779$0$12,237,215
96$14,420,310$814,256$0$13,389,200
97$15,792,113$755,086$0$14,655,881
98$17,300,719$689,896$0$16,048,880
99$18,959,984$618,293$0$17,581,002
100$20,785,173$539,860$0$19,266,357