Can I retire at age 64 with 584,000?

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 $584,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$48,226$47,797$47,377$46,968$46,569$46,198
2 years$23,874$23,430$22,999$22,581$22,176$21,802
3 years$15,758$15,312$14,882$14,468$14,069$13,704
4 years$11,701$11,256$10,830$10,423$10,034$9,680
5 years$9,267$8,825$8,405$8,006$7,628$7,286
6 years$7,645$7,206$6,792$6,403$6,036$5,707
7 years$6,487$6,052$5,644$5,264$4,909$4,593
8 years$5,619$5,187$4,787$4,416$4,072$3,770
9 years$4,944$4,516$4,123$3,761$3,429$3,140
10 years$4,404$3,981$3,594$3,242$2,922$2,645
11 years$3,963$3,544$3,164$2,822$2,513$2,249
12 years$3,596$3,181$2,808$2,475$2,178$1,926
13 years$3,285$2,875$2,509$2,185$1,899$1,659
14 years$3,019$2,613$2,254$1,940$1,665$1,437
15 years$2,789$2,387$2,035$1,730$1,466$1,249
16 years$2,587$2,190$1,845$1,549$1,295$1,090
17 years$2,410$2,017$1,679$1,392$1,149$954
18 years$2,252$1,864$1,533$1,254$1,021$837
19 years$2,111$1,727$1,403$1,133$910$736
20 years$1,985$1,605$1,288$1,026$813$649
21 years$1,870$1,495$1,185$931$728$572
22 years$1,767$1,396$1,092$847$652$506
23 years$1,672$1,305$1,008$771$585$448
24 years$1,585$1,223$932$703$526$397
25 years$1,506$1,148$864$642$474$352
26 years$1,432$1,079$801$587$427$312
27 years$1,364$1,015$744$538$385$277
28 years$1,302$957$691$493$347$247
29 years$1,243$902$643$452$313$219
30 years$1,189$852$599$415$283$195
31 years$1,138$806$559$381$256$174
32 years$1,090$762$521$350$232$155
33 years$1,046$722$487$322$210$138
34 years$1,004$684$455$296$190$123
35 years$965$649$425$273$172$110
36 years$928$616$398$251$156$98
37 years$893$585$372$231$141$87
38 years$859$556$349$213$128$78
39 years$828$529$327$197$116$69
40 years$798$503$306$181$105$62
41 years$770$479$287$167$95$55
42 years$744$456$269$154$87$49
43 years$718$434$253$143$79$44
44 years$694$414$237$132$71$39
45 years$671$395$223$122$65$35
46 years$649$377$209$112$59$31
47 years$628$360$197$104$53$28
48 years$608$343$185$96$49$25
49 years$589$328$174$89$44$22
50 years$570$313$163$82$40$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $584,000, adding $2,955 every year, while hoping to spend $34,880 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: 60/31/9 Blend
63$584,000$584,000$584,000$584,000
64$646,616$615,664$606,612$683,932
65$675,459$608,720$589,822$702,372
66$706,075$600,266$571,299$718,236
67$738,607$590,192$550,951$734,674
68$773,214$578,380$528,677$751,742
69$810,069$564,707$504,374$769,505
70$849,358$549,041$477,933$788,034
71$891,290$531,241$449,242$807,411
72$936,092$511,162$418,181$827,727
73$984,010$488,646$384,627$849,083
74$1,035,318$463,528$348,451$871,594
75$1,090,314$435,634$309,517$895,388
76$1,149,325$404,780$267,685$920,608
77$1,212,711$370,769$222,808$947,415
78$1,280,866$333,396$174,731$975,989
79$1,354,224$292,441$123,294$1,006,529
80$1,433,260$247,675$68,329$1,039,261
81$1,518,495$198,855$9,661$1,074,433
82$1,610,505$145,722$0$1,112,326
83$1,709,919$88,004$0$1,158,334
84$1,817,430$25,416$0$1,209,039
85$1,933,799$0$0$1,263,918
86$2,059,865$0$0$1,337,866
87$2,196,547$0$0$1,427,481
88$2,344,858$0$0$1,524,761
89$2,505,911$0$0$1,630,441
90$2,680,931$0$0$1,745,330
91$2,871,264$0$0$1,870,318
92$3,078,393$0$0$2,006,385
93$3,303,948$0$0$2,154,607
94$3,549,724$0$0$2,316,170
95$3,817,695$0$0$2,492,379
96$4,110,035$0$0$2,684,670
97$4,429,137$0$0$2,894,624
98$4,777,633$0$0$3,123,981
99$5,158,422$0$0$3,374,656
100$5,574,696$0$0$3,648,760