Can I retire at age 64 with 508,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $508,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$41,950$41,576$41,212$40,856$40,509$40,203
2 years$20,767$20,381$20,006$19,642$19,290$18,981
3 years$13,707$13,319$12,945$12,585$12,238$11,937
4 years$10,178$9,791$9,421$9,067$8,728$8,437
5 years$8,061$7,676$7,311$6,964$6,635$6,354
6 years$6,650$6,268$5,908$5,569$5,250$4,979
7 years$5,643$5,264$4,910$4,579$4,270$4,009
8 years$4,888$4,512$4,164$3,841$3,542$3,293
9 years$4,301$3,929$3,586$3,272$2,983$2,744
10 years$3,831$3,463$3,127$2,820$2,542$2,313
11 years$3,447$3,083$2,753$2,454$2,186$1,968
12 years$3,128$2,767$2,443$2,153$1,894$1,686
13 years$2,858$2,501$2,183$1,901$1,652$1,454
14 years$2,626$2,273$1,961$1,687$1,448$1,260
15 years$2,426$2,076$1,771$1,505$1,275$1,096
16 years$2,251$1,905$1,605$1,347$1,127$957
17 years$2,096$1,754$1,461$1,211$999$838
18 years$1,959$1,621$1,333$1,091$888$736
19 years$1,837$1,503$1,221$986$792$648
20 years$1,727$1,396$1,120$893$707$571
21 years$1,627$1,301$1,030$810$633$504
22 years$1,537$1,214$950$737$567$446
23 years$1,454$1,135$877$671$509$395
24 years$1,379$1,064$811$612$458$350
25 years$1,310$998$751$559$412$311
26 years$1,246$938$697$511$371$276
27 years$1,187$883$647$468$335$246
28 years$1,132$832$601$429$302$218
29 years$1,081$785$560$393$273$194
30 years$1,034$741$521$361$246$173
31 years$990$701$486$331$223$154
32 years$949$663$453$304$201$138
33 years$910$628$423$280$182$123
34 years$873$595$396$258$165$109
35 years$839$564$370$237$149$98
36 years$807$536$346$218$135$87
37 years$776$509$324$201$123$78
38 years$748$484$303$185$111$69
39 years$720$460$284$171$101$62
40 years$695$438$266$158$92$55
41 years$670$416$250$146$83$49
42 years$647$397$234$134$75$44
43 years$625$378$220$124$68$40
44 years$604$360$206$114$62$35
45 years$584$344$194$106$56$32
46 years$564$328$182$98$51$28
47 years$546$313$171$90$46$25
48 years$529$299$161$83$42$23
49 years$512$285$151$77$38$20
50 years$496$272$142$71$35$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $508,000, adding $2,254 every year, while hoping to spend $39,259 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: 69/20/11 Blend
63$508,000$508,000$508,000$508,000
64$562,141$535,217$527,343$599,485
65$577,708$519,671$503,238$609,018
66$593,547$502,048$477,009$614,493
67$609,645$482,204$448,545$619,448
68$625,984$459,988$417,727$623,825
69$642,546$435,239$384,432$627,562
70$659,308$407,788$348,532$630,592
71$676,243$377,455$309,894$632,841
72$693,320$344,051$268,376$634,232
73$710,505$307,375$223,832$634,677
74$727,756$267,216$176,110$634,085
75$745,027$223,349$125,050$632,355
76$762,265$175,539$70,485$629,380
77$779,411$123,536$12,241$625,041
78$796,397$67,075$0$619,211
79$813,146$5,878$0$617,611
80$829,573$0$0$616,146
81$845,580$0$0$626,522
82$861,058$0$0$637,773
83$875,885$0$0$648,514
84$889,926$0$0$658,639
85$903,027$0$0$668,032
86$915,017$0$0$676,563
87$925,707$0$0$684,087
88$934,884$0$0$690,441
89$942,312$0$0$695,445
90$947,727$0$0$698,899
91$950,838$0$0$700,580
92$951,319$0$0$700,240
93$948,810$0$0$697,603
94$942,909$0$0$692,365
95$933,171$0$0$684,185
96$919,104$0$0$672,689
97$900,160$0$0$657,461
98$875,735$0$0$638,037
99$845,156$0$0$613,909
100$807,682$0$0$584,509