Can I retire at age 64 with 583,000?

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 $583,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$48,144$47,715$47,296$46,888$46,489$46,196
2 years$23,833$23,390$22,959$22,542$22,138$21,842
3 years$15,731$15,285$14,856$14,443$14,045$13,756
4 years$11,681$11,236$10,812$10,405$10,017$9,737
5 years$9,251$8,809$8,390$7,992$7,615$7,344
6 years$7,632$7,194$6,781$6,392$6,025$5,765
7 years$6,476$6,041$5,635$5,255$4,900$4,650
8 years$5,609$5,178$4,779$4,408$4,065$3,825
9 years$4,935$4,509$4,116$3,755$3,423$3,193
10 years$4,397$3,974$3,588$3,237$2,917$2,697
11 years$3,956$3,538$3,159$2,817$2,509$2,298
12 years$3,590$3,176$2,804$2,471$2,174$1,973
13 years$3,279$2,870$2,505$2,181$1,896$1,704
14 years$3,014$2,609$2,251$1,936$1,662$1,480
15 years$2,784$2,383$2,032$1,727$1,463$1,290
16 years$2,583$2,186$1,842$1,546$1,293$1,129
17 years$2,406$2,013$1,676$1,389$1,147$991
18 years$2,248$1,861$1,530$1,252$1,020$872
19 years$2,108$1,724$1,401$1,131$909$769
20 years$1,981$1,602$1,286$1,025$812$679
21 years$1,867$1,493$1,183$930$726$601
22 years$1,764$1,393$1,090$845$651$533
23 years$1,669$1,303$1,006$770$584$473
24 years$1,583$1,221$931$702$525$421
25 years$1,503$1,146$862$641$473$374
26 years$1,430$1,077$800$586$426$333
27 years$1,362$1,013$742$537$384$297
28 years$1,299$955$690$492$346$265
29 years$1,241$901$642$451$313$236
30 years$1,187$851$598$414$283$211
31 years$1,136$804$558$380$256$188
32 years$1,089$761$520$349$231$168
33 years$1,044$721$486$321$209$150
34 years$1,002$683$454$296$189$135
35 years$963$648$424$272$172$120
36 years$926$615$397$251$155$108
37 years$891$584$372$231$141$96
38 years$858$555$348$213$128$86
39 years$827$528$326$196$116$77
40 years$797$502$306$181$105$69
41 years$769$478$287$167$95$62
42 years$742$455$269$154$86$55
43 years$717$434$252$142$78$50
44 years$693$413$237$131$71$45
45 years$670$394$222$121$65$40
46 years$648$376$209$112$59$36
47 years$627$359$196$104$53$32
48 years$607$343$184$96$48$29
49 years$588$327$173$88$44$26
50 years$569$313$163$82$40$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $583,000, adding $6,968 every year, while hoping to spend $24,905 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: 72/21/7 Blend
63$583,000$583,000$583,000$583,000
64$649,653$618,754$609,718$695,258
65$689,419$622,575$603,645$730,111
66$732,407$625,747$596,533$764,476
67$778,918$628,215$588,323$801,403
68$829,285$629,915$578,949$841,139
69$883,873$630,782$568,345$883,954
70$943,085$630,746$556,441$930,147
71$1,007,361$629,735$543,164$980,047
72$1,077,188$627,668$528,436$1,034,017
73$1,153,100$624,463$512,178$1,092,456
74$1,235,686$620,031$494,305$1,155,805
75$1,325,592$614,278$474,730$1,224,551
76$1,423,530$607,105$453,361$1,299,231
77$1,530,283$598,407$430,102$1,380,436
78$1,646,715$588,072$404,853$1,468,818
79$1,773,773$575,981$377,509$1,565,097
80$1,912,503$562,008$347,961$1,670,066
81$2,064,054$546,022$316,093$1,784,600
82$2,229,692$527,882$281,786$1,909,664
83$2,410,811$507,439$244,917$2,046,322
84$2,608,945$484,535$205,353$2,195,747
85$2,825,784$459,004$162,959$2,359,235
86$3,063,189$430,670$117,593$2,538,211
87$3,323,208$399,347$69,106$2,734,250
88$3,608,098$364,837$17,344$2,949,089
89$3,920,343$326,933$0$3,184,640
90$4,262,680$285,414$0$3,445,844
91$4,638,122$240,049$0$3,733,767
92$5,049,991$190,591$0$4,049,691
93$5,501,941$136,782$0$4,396,459
94$5,998,001$78,346$0$4,777,208
95$6,542,608$14,996$0$5,195,393
96$7,140,648$0$0$5,654,825
97$7,797,505$0$0$6,172,085
98$8,519,109$0$0$6,744,170
99$9,311,994$0$0$7,372,797
100$10,183,358$0$0$8,063,677