Can I retire at age 64 with 580,000?

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 $580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$47,896$47,469$47,053$46,647$46,250$45,261
2 years$23,711$23,269$22,841$22,426$22,024$21,032
3 years$15,650$15,207$14,780$14,369$13,973$13,009
4 years$11,621$11,179$10,756$10,352$9,966$9,038
5 years$9,204$8,764$8,347$7,951$7,576$6,686
6 years$7,593$7,157$6,746$6,359$5,994$5,144
7 years$6,443$6,010$5,606$5,228$4,875$4,065
8 years$5,580$5,152$4,754$4,385$4,044$3,273
9 years$4,910$4,486$4,095$3,735$3,406$2,673
10 years$4,374$3,954$3,570$3,220$2,902$2,208
11 years$3,936$3,520$3,143$2,802$2,496$1,838
12 years$3,571$3,159$2,789$2,458$2,163$1,541
13 years$3,263$2,855$2,492$2,170$1,886$1,300
14 years$2,998$2,595$2,239$1,926$1,653$1,101
15 years$2,770$2,371$2,022$1,718$1,456$936
16 years$2,570$2,175$1,833$1,538$1,287$798
17 years$2,393$2,003$1,668$1,382$1,141$682
18 years$2,237$1,851$1,522$1,246$1,014$585
19 years$2,097$1,715$1,394$1,125$904$502
20 years$1,971$1,594$1,279$1,019$808$431
21 years$1,858$1,485$1,177$925$723$371
22 years$1,754$1,386$1,084$841$648$320
23 years$1,660$1,296$1,001$766$581$276
24 years$1,574$1,215$926$699$523$239
25 years$1,495$1,140$858$638$470$206
26 years$1,422$1,071$795$583$424$178
27 years$1,355$1,008$739$534$382$154
28 years$1,293$950$687$489$345$133
29 years$1,235$896$639$449$311$116
30 years$1,181$846$595$412$281$100
31 years$1,130$800$555$378$254$87
32 years$1,083$757$518$348$230$75
33 years$1,039$717$483$320$208$65
34 years$997$680$452$294$188$56
35 years$958$645$422$271$171$49
36 years$921$612$395$249$155$42
37 years$886$581$370$230$140$37
38 years$854$552$346$212$127$32
39 years$822$525$324$195$115$28
40 years$793$500$304$180$104$24
41 years$765$476$285$166$95$21
42 years$738$453$267$153$86$18
43 years$713$431$251$142$78$16
44 years$689$411$236$131$71$14
45 years$666$392$221$121$64$12
46 years$644$374$208$111$58$10
47 years$624$357$195$103$53$9
48 years$604$341$183$95$48$8
49 years$585$326$172$88$44$7
50 years$566$311$162$81$40$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $580,000, adding $5,787 every year, while hoping to spend $42,852 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: 37/46/17 Blend
63$580,000$580,000$580,000$580,000
64$645,129$614,389$605,399$665,484
65$665,338$598,900$580,086$665,205
66$686,172$581,216$552,488$660,412
67$707,650$561,184$522,485$654,329
68$729,790$538,642$489,948$646,864
69$752,613$513,419$454,745$637,917
70$776,137$485,334$416,737$627,387
71$800,384$454,196$375,778$615,162
72$825,374$419,803$331,718$601,128
73$851,128$381,939$284,397$585,162
74$877,669$340,380$233,649$567,135
75$905,018$294,885$179,304$546,911
76$933,198$245,203$121,179$524,344
77$962,233$191,067$59,087$499,284
78$992,145$132,194$0$471,568
79$1,022,959$68,286$0$442,330
80$1,054,699$0$0$421,609
81$1,087,390$0$0$399,019
82$1,121,056$0$0$411,348
83$1,155,722$0$0$424,042
84$1,191,415$0$0$437,109
85$1,228,159$0$0$450,558
86$1,265,980$0$0$464,397
87$1,304,905$0$0$478,637
88$1,344,958$0$0$493,285
89$1,386,166$0$0$508,352
90$1,428,554$0$0$523,844
91$1,472,147$0$0$539,772
92$1,516,969$0$0$556,143
93$1,563,046$0$0$572,964
94$1,610,399$0$0$590,245
95$1,659,052$0$0$607,992
96$1,709,026$0$0$626,212
97$1,760,341$0$0$644,910
98$1,813,016$0$0$664,093
99$1,867,066$0$0$683,764
100$1,922,508$0$0$703,928