Can I retire at age 64 with 488,000?

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 $488,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$40,299$39,940$39,589$39,248$38,914$38,523
2 years$19,950$19,578$19,218$18,869$18,530$18,137
3 years$13,168$12,795$12,435$12,090$11,756$11,373
4 years$9,777$9,405$9,050$8,710$8,385$8,013
5 years$7,744$7,374$7,023$6,690$6,374$6,016
6 years$6,388$6,021$5,676$5,350$5,044$4,699
7 years$5,421$5,057$4,716$4,399$4,102$3,772
8 years$4,695$4,335$4,000$3,690$3,403$3,087
9 years$4,131$3,774$3,445$3,143$2,866$2,563
10 years$3,680$3,327$3,004$2,709$2,442$2,153
11 years$3,312$2,961$2,644$2,358$2,100$1,825
12 years$3,005$2,658$2,347$2,068$1,820$1,558
13 years$2,745$2,402$2,097$1,826$1,587$1,338
14 years$2,523$2,183$1,884$1,621$1,391$1,155
15 years$2,330$1,995$1,701$1,445$1,225$1,001
16 years$2,162$1,830$1,542$1,294$1,082$870
17 years$2,014$1,685$1,403$1,163$960$759
18 years$1,882$1,557$1,281$1,048$853$663
19 years$1,764$1,443$1,173$947$761$581
20 years$1,659$1,341$1,076$858$679$510
21 years$1,563$1,249$990$778$608$449
22 years$1,476$1,166$912$708$545$395
23 years$1,397$1,091$842$645$489$348
24 years$1,325$1,022$779$588$440$308
25 years$1,258$959$722$537$396$272
26 years$1,197$901$669$491$356$240
27 years$1,140$848$621$449$321$212
28 years$1,088$799$578$412$290$188
29 years$1,039$754$538$378$262$167
30 years$993$712$501$346$237$148
31 years$951$673$467$318$214$131
32 years$911$637$436$292$193$116
33 years$874$603$407$269$175$103
34 years$839$572$380$247$159$91
35 years$806$542$355$228$144$81
36 years$775$515$332$210$130$72
37 years$746$489$311$193$118$64
38 years$718$465$291$178$107$57
39 years$692$442$273$164$97$51
40 years$667$420$256$152$88$45
41 years$644$400$240$140$80$40
42 years$621$381$225$129$72$35
43 years$600$363$211$119$66$32
44 years$580$346$198$110$60$28
45 years$561$330$186$102$54$25
46 years$542$315$175$94$49$22
47 years$525$300$164$87$45$20
48 years$508$287$154$80$41$18
49 years$492$274$145$74$37$16
50 years$476$262$136$68$33$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $488,000, adding $5,324 every year, while hoping to spend $24,820 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: 62/11/27 Blend
63$488,000$488,000$488,000$488,000
64$543,268$517,404$509,840$572,727
65$572,273$516,348$500,511$592,297
66$603,404$514,409$490,038$610,486
67$636,853$511,517$478,356$629,813
68$672,829$507,598$465,398$650,394
69$711,561$502,574$451,092$672,356
70$753,303$496,362$435,366$695,844
71$798,330$488,874$418,141$721,013
72$846,948$480,018$399,337$748,040
73$899,492$469,694$378,870$777,118
74$956,329$457,798$356,651$808,461
75$1,017,864$444,219$332,588$842,308
76$1,084,541$428,841$306,585$878,922
77$1,156,849$411,539$278,540$918,595
78$1,235,326$392,182$248,349$961,648
79$1,320,562$370,632$215,902$1,008,441
80$1,413,208$346,741$181,084$1,059,367
81$1,513,979$320,356$143,774$1,114,866
82$1,623,663$291,311$103,848$1,175,420
83$1,743,125$259,434$61,176$1,241,564
84$1,873,318$224,541$15,620$1,313,892
85$2,015,292$186,438$0$1,393,058
86$2,170,200$144,922$0$1,489,290
87$2,339,313$99,776$0$1,599,305
88$2,524,030$50,772$0$1,719,525
89$2,725,891$0$0$1,850,974
90$2,946,590$0$0$1,995,064
91$3,187,994$0$0$2,159,429
92$3,452,158$0$0$2,339,327
93$3,741,345$0$0$2,536,302
94$4,058,047$0$0$2,752,057
95$4,405,007$0$0$2,988,467
96$4,785,249$0$0$3,247,595
97$5,202,099$0$0$3,531,714
98$5,659,223$0$0$3,843,329
99$6,160,660$0$0$4,185,197
100$6,710,855$0$0$4,560,356