Can I retire at age 64 with 423,000?

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 $423,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$34,931$34,620$34,316$34,020$33,731$32,796
2 years$17,293$16,970$16,658$16,356$16,062$15,127
3 years$11,414$11,090$10,779$10,479$10,191$9,285
4 years$8,475$8,153$7,844$7,550$7,268$6,398
5 years$6,712$6,392$6,088$5,799$5,525$4,694
6 years$5,537$5,219$4,920$4,637$4,372$3,580
7 years$4,699$4,383$4,088$3,813$3,555$2,803
8 years$4,070$3,757$3,467$3,198$2,950$2,236
9 years$3,581$3,271$2,986$2,724$2,484$1,809
10 years$3,190$2,884$2,604$2,348$2,116$1,479
11 years$2,871$2,567$2,292$2,044$1,820$1,219
12 years$2,604$2,304$2,034$1,793$1,577$1,012
13 years$2,379$2,082$1,817$1,583$1,375$844
14 years$2,187$1,893$1,633$1,405$1,206$707
15 years$2,020$1,729$1,474$1,253$1,062$594
16 years$1,874$1,586$1,337$1,122$938$501
17 years$1,745$1,461$1,216$1,008$832$423
18 years$1,631$1,350$1,110$908$740$359
19 years$1,529$1,251$1,016$821$659$304
20 years$1,438$1,163$933$743$589$258
21 years$1,355$1,083$858$675$527$220
22 years$1,280$1,011$791$613$472$187
23 years$1,211$945$730$559$424$159
24 years$1,148$886$675$510$381$136
25 years$1,091$831$625$465$343$116
26 years$1,037$781$580$425$309$99
27 years$988$735$539$389$279$84
28 years$943$693$501$357$251$72
29 years$900$654$466$327$227$62
30 years$861$617$434$300$205$53
31 years$824$584$405$276$185$45
32 years$790$552$378$253$168$39
33 years$758$523$353$233$152$33
34 years$727$496$329$214$137$28
35 years$699$470$308$197$124$24
36 years$672$446$288$182$113$21
37 years$646$424$270$168$102$18
38 years$622$403$253$154$93$15
39 years$600$383$237$142$84$13
40 years$578$364$222$131$76$11
41 years$558$347$208$121$69$9
42 years$539$330$195$112$63$8
43 years$520$315$183$103$57$7
44 years$503$300$172$95$52$6
45 years$486$286$161$88$47$5
46 years$470$273$152$81$43$4
47 years$455$260$142$75$39$4
48 years$440$249$134$69$35$3
49 years$426$237$126$64$32$3
50 years$413$227$118$59$29$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $423,000, adding $5,739 every year, while hoping to spend $28,358 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: 49/35/16 Blend
63$423,000$423,000$423,000$423,000
64$472,066$449,647$443,090$492,834
65$490,044$441,507$427,761$499,635
66$508,905$432,017$410,968$503,628
67$528,710$421,083$392,632$507,346
68$549,524$408,601$372,670$510,775
69$571,417$394,465$350,997$513,898
70$594,468$378,560$327,521$516,702
71$618,760$360,765$302,150$519,171
72$644,385$340,954$274,783$521,292
73$671,443$318,992$245,319$523,052
74$700,042$294,735$213,650$524,441
75$730,302$268,033$179,663$525,448
76$762,353$238,726$143,241$526,067
77$796,336$206,647$104,263$526,290
78$832,407$171,617$62,600$526,117
79$870,734$133,448$18,119$525,547
80$911,503$91,941$0$524,584
81$954,918$46,887$0$528,249
82$1,001,200$0$0$535,170
83$1,050,592$0$0$543,041
84$1,103,361$0$0$570,772
85$1,159,799$0$0$600,459
86$1,220,226$0$0$632,276
87$1,284,995$0$0$666,411
88$1,354,489$0$0$703,071
89$1,429,132$0$0$742,484
90$1,509,387$0$0$784,901
91$1,595,766$0$0$830,594
92$1,688,826$0$0$879,865
93$1,789,182$0$0$933,045
94$1,897,510$0$0$990,498
95$2,014,550$0$0$1,052,623
96$2,141,119$0$0$1,119,859
97$2,278,113$0$0$1,192,689
98$2,426,515$0$0$1,271,644
99$2,587,409$0$0$1,357,307
100$2,761,987$0$0$1,450,320