Can I retire at age 64 with 516,000?

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 $516,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$42,611$42,231$41,861$41,499$41,147$40,482
2 years$21,094$20,702$20,321$19,952$19,594$18,925
3 years$13,923$13,529$13,149$12,783$12,431$11,780
4 years$10,338$9,945$9,569$9,210$8,866$8,238
5 years$8,188$7,797$7,426$7,074$6,740$6,136
6 years$6,755$6,367$6,001$5,657$5,333$4,755
7 years$5,732$5,347$4,987$4,651$4,337$3,784
8 years$4,965$4,583$4,229$3,902$3,598$3,070
9 years$4,368$3,991$3,643$3,323$3,030$2,527
10 years$3,891$3,517$3,176$2,865$2,582$2,104
11 years$3,502$3,131$2,796$2,493$2,220$1,766
12 years$3,177$2,811$2,481$2,187$1,924$1,494
13 years$2,903$2,540$2,217$1,931$1,678$1,270
14 years$2,668$2,309$1,992$1,714$1,471$1,085
15 years$2,464$2,109$1,798$1,528$1,295$931
16 years$2,286$1,935$1,631$1,369$1,145$801
17 years$2,129$1,782$1,484$1,230$1,015$691
18 years$1,990$1,647$1,354$1,108$902$598
19 years$1,866$1,526$1,240$1,001$804$518
20 years$1,754$1,418$1,138$907$718$450
21 years$1,653$1,321$1,047$823$643$391
22 years$1,561$1,233$965$748$576$341
23 years$1,477$1,153$891$682$517$297
24 years$1,401$1,081$824$622$465$259
25 years$1,330$1,014$763$568$418$226
26 years$1,266$953$708$519$377$198
27 years$1,206$897$657$475$340$173
28 years$1,150$845$611$435$307$151
29 years$1,098$797$568$399$277$132
30 years$1,050$753$529$366$250$116
31 years$1,005$712$494$336$226$101
32 years$963$674$461$309$205$89
33 years$924$638$430$284$185$78
34 years$887$605$402$262$168$68
35 years$852$573$376$241$152$60
36 years$820$544$351$222$138$52
37 years$789$517$329$204$125$46
38 years$759$491$308$188$113$40
39 years$732$467$289$174$102$35
40 years$705$444$270$160$93$31
41 years$681$423$254$148$84$27
42 years$657$403$238$136$77$24
43 years$634$384$223$126$69$21
44 years$613$366$210$116$63$18
45 years$593$349$197$107$57$16
46 years$573$333$185$99$52$14
47 years$555$318$174$92$47$12
48 years$537$303$163$85$43$11
49 years$520$290$153$78$39$10
50 years$504$277$144$72$35$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $516,000, adding $5,065 every year, while hoping to spend $41,590 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: 80/13/7 Blend
63$516,000$516,000$516,000$516,000
64$573,857$546,509$538,511$618,926
65$588,138$529,036$512,299$631,706
66$602,483$509,313$483,816$639,728
67$616,853$487,187$452,941$647,276
68$631,206$462,492$419,548$654,280
69$645,493$435,058$383,506$660,665
70$659,659$404,702$344,680$666,347
71$673,642$371,231$302,925$671,237
72$687,373$334,440$258,092$675,233
73$700,772$294,115$210,025$678,225
74$713,752$250,027$158,561$680,094
75$726,212$201,936$103,531$680,707
76$738,043$149,589$44,757$679,918
77$749,120$92,715$0$677,568
78$759,305$31,032$0$674,825
79$768,442$0$0$673,809
80$776,359$0$0$676,095
81$782,864$0$0$681,568
82$787,744$0$0$685,598
83$790,759$0$0$687,977
84$791,646$0$0$688,470
85$790,110$0$0$686,819
86$785,826$0$0$682,735
87$778,432$0$0$675,900
88$767,525$0$0$665,958
89$752,661$0$0$652,517
90$733,347$0$0$635,142
91$709,036$0$0$613,351
92$679,124$0$0$586,611
93$642,940$0$0$554,330
94$599,743$0$0$515,854
95$548,714$0$0$470,461
96$488,945$0$0$417,351
97$419,434$0$0$355,638
98$339,073$0$0$284,347
99$246,636$0$0$202,395
100$140,769$0$0$108,589