Can I retire at age 64 with 587,000?

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 $587,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$48,474$48,042$47,621$47,210$46,808$46,223
2 years$23,997$23,550$23,117$22,697$22,290$21,701
3 years$15,839$15,390$14,958$14,542$14,141$13,568
4 years$11,761$11,313$10,886$10,477$10,086$9,531
5 years$9,315$8,870$8,448$8,047$7,667$7,133
6 years$7,684$7,243$6,827$6,435$6,067$5,554
7 years$6,520$6,083$5,673$5,291$4,934$4,443
8 years$5,648$5,214$4,811$4,438$4,093$3,623
9 years$4,969$4,540$4,144$3,781$3,447$2,998
10 years$4,427$4,001$3,613$3,259$2,937$2,509
11 years$3,983$3,562$3,181$2,836$2,526$2,119
12 years$3,614$3,197$2,823$2,488$2,189$1,802
13 years$3,302$2,889$2,522$2,196$1,909$1,542
14 years$3,035$2,626$2,266$1,950$1,673$1,325
15 years$2,803$2,399$2,046$1,739$1,473$1,144
16 years$2,601$2,201$1,855$1,557$1,302$990
17 years$2,422$2,027$1,688$1,399$1,154$860
18 years$2,264$1,873$1,541$1,261$1,027$749
19 years$2,122$1,736$1,411$1,139$915$653
20 years$1,995$1,613$1,295$1,032$817$571
21 years$1,880$1,503$1,191$936$731$500
22 years$1,776$1,403$1,097$851$656$438
23 years$1,680$1,312$1,013$775$588$385
24 years$1,593$1,229$937$707$529$338
25 years$1,513$1,154$868$646$476$297
26 years$1,440$1,084$805$590$429$261
27 years$1,371$1,020$748$540$387$230
28 years$1,308$961$695$495$349$203
29 years$1,250$907$647$454$315$179
30 years$1,195$857$602$417$285$158
31 years$1,144$810$562$383$257$139
32 years$1,096$766$524$352$233$123
33 years$1,051$726$489$323$211$108
34 years$1,009$688$457$298$191$96
35 years$970$652$427$274$173$85
36 years$932$619$400$252$156$75
37 years$897$588$374$232$142$66
38 years$864$559$350$214$129$58
39 years$832$531$328$198$117$52
40 years$803$506$308$182$106$46
41 years$774$481$289$168$96$40
42 years$747$458$271$155$87$36
43 years$722$437$254$143$79$32
44 years$697$416$238$132$72$28
45 years$674$397$224$122$65$25
46 years$652$379$210$113$59$22
47 years$631$361$198$104$54$19
48 years$611$345$186$96$49$17
49 years$592$329$174$89$44$15
50 years$573$315$164$82$40$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $587,000, adding $5,367 every year, while hoping to spend $48,501 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: 65/20/15 Blend
63$587,000$587,000$587,000$587,000
64$652,410$621,299$612,201$692,127
65$667,351$600,138$581,105$698,205
66$682,191$576,315$547,341$698,734
67$696,867$549,647$510,770$698,118
68$711,311$519,943$471,245$696,246
69$725,444$487,000$428,611$692,993
70$739,179$450,602$382,708$688,228
71$752,416$410,522$333,370$681,806
72$765,045$366,521$280,421$673,572
73$776,943$318,344$223,678$663,354
74$787,971$265,722$162,951$650,968
75$797,975$208,374$98,041$636,214
76$806,783$145,998$28,740$618,873
77$814,203$78,280$0$598,708
78$820,021$4,885$0$582,699
79$824,000$0$0$568,706
80$825,875$0$0$568,262
81$825,353$0$0$567,154
82$822,108$0$0$564,072
83$815,778$0$0$558,756
84$805,961$0$0$550,918
85$792,213$0$0$540,239
86$774,040$0$0$526,364
87$750,895$0$0$508,901
88$722,173$0$0$487,415
89$687,205$0$0$461,426
90$645,247$0$0$430,401
91$595,481$0$0$393,752
92$536,997$0$0$350,828
93$468,793$0$0$300,907
94$389,758$0$0$243,196
95$298,666$0$0$176,813
96$194,160$0$0$100,786
97$74,743$0$0$14,042
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0