Can I retire at age 64 with 508,000?

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 $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%19.3%
1 years$41,950$41,576$41,212$40,856$40,509$38,994
2 years$20,767$20,381$20,006$19,642$19,290$17,781
3 years$13,707$13,319$12,945$12,585$12,238$10,783
4 years$10,178$9,791$9,421$9,067$8,728$7,338
5 years$8,061$7,676$7,311$6,964$6,635$5,313
6 years$6,650$6,268$5,908$5,569$5,250$3,997
7 years$5,643$5,264$4,910$4,579$4,270$3,085
8 years$4,888$4,512$4,164$3,841$3,542$2,425
9 years$4,301$3,929$3,586$3,272$2,983$1,932
10 years$3,831$3,463$3,127$2,820$2,542$1,555
11 years$3,447$3,083$2,753$2,454$2,186$1,261
12 years$3,128$2,767$2,443$2,153$1,894$1,029
13 years$2,858$2,501$2,183$1,901$1,652$844
14 years$2,626$2,273$1,961$1,687$1,448$695
15 years$2,426$2,076$1,771$1,505$1,275$574
16 years$2,251$1,905$1,605$1,347$1,127$475
17 years$2,096$1,754$1,461$1,211$999$394
18 years$1,959$1,621$1,333$1,091$888$328
19 years$1,837$1,503$1,221$986$792$273
20 years$1,727$1,396$1,120$893$707$227
21 years$1,627$1,301$1,030$810$633$190
22 years$1,537$1,214$950$737$567$158
23 years$1,454$1,135$877$671$509$132
24 years$1,379$1,064$811$612$458$111
25 years$1,310$998$751$559$412$92
26 years$1,246$938$697$511$371$77
27 years$1,187$883$647$468$335$65
28 years$1,132$832$601$429$302$54
29 years$1,081$785$560$393$273$45
30 years$1,034$741$521$361$246$38
31 years$990$701$486$331$223$32
32 years$949$663$453$304$201$27
33 years$910$628$423$280$182$22
34 years$873$595$396$258$165$19
35 years$839$564$370$237$149$16
36 years$807$536$346$218$135$13
37 years$776$509$324$201$123$11
38 years$748$484$303$185$111$9
39 years$720$460$284$171$101$8
40 years$695$438$266$158$92$6
41 years$670$416$250$146$83$5
42 years$647$397$234$134$75$5
43 years$625$378$220$124$68$4
44 years$604$360$206$114$62$3
45 years$584$344$194$106$56$3
46 years$564$328$182$98$51$2
47 years$546$313$171$90$46$2
48 years$529$299$161$83$42$2
49 years$512$285$151$77$38$1
50 years$496$272$142$71$35$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $508,000, adding $3,125 every year, while hoping to spend $22,998 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: 42/30/28 Blend
63$508,000$508,000$508,000$508,000
64$563,039$536,115$528,241$581,959
65$596,000$537,915$521,468$597,674
66$631,551$539,033$513,697$612,283
67$669,934$539,410$504,870$627,666
68$711,411$538,985$494,927$643,908
69$756,274$537,694$483,806$661,104
70$804,840$535,467$471,439$679,360
71$857,459$532,230$457,758$698,797
72$914,517$527,907$442,690$719,547
73$976,437$522,414$426,160$741,758
74$1,043,685$515,664$408,088$765,596
75$1,116,774$507,564$388,391$791,244
76$1,196,267$498,016$366,984$818,907
77$1,282,783$486,916$343,775$848,814
78$1,377,006$474,154$318,671$881,218
79$1,479,687$459,613$291,572$916,401
80$1,591,650$443,170$262,375$954,679
81$1,713,807$424,694$230,973$996,398
82$1,847,157$404,046$197,253$1,041,947
83$1,992,804$381,081$161,098$1,091,756
84$2,151,959$355,643$122,384$1,146,301
85$2,325,959$327,569$80,983$1,206,113
86$2,516,273$296,687$36,763$1,271,778
87$2,724,521$262,813$0$1,343,950
88$2,952,485$225,754$0$1,426,464
89$3,202,129$185,306$0$1,528,930
90$3,475,614$141,253$0$1,641,286
91$3,775,321$93,369$0$1,764,560
92$4,103,871$41,411$0$1,899,891
93$4,464,152$0$0$2,048,535
94$4,859,346$0$0$2,216,789
95$5,292,954$0$0$2,416,463
96$5,768,836$0$0$2,635,670
97$6,291,242$0$0$2,876,378
98$6,864,855$0$0$3,140,752
99$7,494,830$0$0$3,431,177
100$8,186,850$0$0$3,750,283