Can I retire at age 64 with 588,000?

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 $588,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$48,556$48,124$47,702$47,290$46,888$46,476
2 years$24,038$23,590$23,156$22,736$22,328$21,912
3 years$15,866$15,416$14,984$14,567$14,166$13,760
4 years$11,781$11,333$10,904$10,495$10,103$9,710
5 years$9,331$8,885$8,462$8,061$7,680$7,301
6 years$7,697$7,255$6,839$6,446$6,077$5,713
7 years$6,531$6,093$5,683$5,300$4,942$4,592
8 years$5,657$5,223$4,820$4,446$4,100$3,765
9 years$4,978$4,547$4,151$3,787$3,453$3,132
10 years$4,434$4,008$3,619$3,264$2,942$2,636
11 years$3,990$3,568$3,186$2,841$2,530$2,238
12 years$3,620$3,203$2,828$2,492$2,193$1,914
13 years$3,308$2,894$2,526$2,200$1,912$1,647
14 years$3,040$2,631$2,270$1,953$1,676$1,424
15 years$2,808$2,403$2,049$1,742$1,476$1,237
16 years$2,605$2,205$1,858$1,559$1,304$1,078
17 years$2,426$2,031$1,691$1,401$1,156$942
18 years$2,268$1,877$1,543$1,263$1,028$825
19 years$2,126$1,739$1,413$1,141$917$725
20 years$1,998$1,616$1,297$1,033$819$638
21 years$1,883$1,505$1,193$938$733$562
22 years$1,779$1,405$1,099$853$657$496
23 years$1,683$1,314$1,015$777$589$438
24 years$1,596$1,231$939$708$530$388
25 years$1,516$1,156$869$647$477$343
26 years$1,442$1,086$806$591$429$304
27 years$1,374$1,022$749$541$387$270
28 years$1,311$963$696$496$349$239
29 years$1,252$909$648$455$315$213
30 years$1,197$858$603$417$285$189
31 years$1,146$811$563$383$258$168
32 years$1,098$768$525$352$233$149
33 years$1,053$727$490$324$211$133
34 years$1,011$689$458$298$191$118
35 years$971$653$428$274$173$105
36 years$934$620$400$253$157$94
37 years$899$589$375$233$142$83
38 years$865$560$351$215$129$74
39 years$834$532$329$198$117$66
40 years$804$506$308$183$106$59
41 years$776$482$289$168$96$53
42 years$749$459$271$155$87$47
43 years$723$437$254$143$79$42
44 years$699$417$239$132$72$37
45 years$675$398$224$122$65$33
46 years$653$379$211$113$59$30
47 years$632$362$198$104$54$26
48 years$612$346$186$96$49$23
49 years$593$330$175$89$44$21
50 years$574$315$164$82$40$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $588,000, adding $4,263 every year, while hoping to spend $47,287 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: 59/18/23 Blend
63$588,000$588,000$588,000$588,000
64$652,373$621,209$612,095$686,618
65$668,602$601,336$582,287$690,528
66$684,902$578,903$549,896$689,312
67$701,229$553,737$514,785$686,955
68$717,536$525,651$476,812$683,357
69$733,766$494,449$435,826$678,409
70$749,858$459,925$391,674$671,995
71$765,740$421,858$344,192$663,989
72$781,333$380,017$293,210$654,255
73$796,548$334,156$238,551$642,646
74$811,283$284,018$180,030$629,004
75$825,427$229,327$117,454$613,159
76$838,851$169,795$50,620$594,926
77$851,416$105,117$0$574,105
78$862,963$34,970$0$555,562
79$873,316$0$0$547,569
80$882,278$0$0$545,614
81$889,631$0$0$549,511
82$895,131$0$0$552,177
83$898,506$0$0$553,432
84$899,456$0$0$553,081
85$897,646$0$0$550,905
86$892,705$0$0$546,661
87$884,219$0$0$540,080
88$871,733$0$0$530,865
89$854,739$0$0$518,684
90$832,675$0$0$503,171
91$804,919$0$0$483,921
92$770,782$0$0$460,485
93$729,502$0$0$432,364
94$680,234$0$0$399,010
95$622,046$0$0$359,814
96$553,903$0$0$314,104
97$474,665$0$0$261,135
98$383,069$0$0$200,085
99$277,720$0$0$130,046
100$157,076$0$0$50,014