Can I retire at age 64 with 589,000?

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 $589,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$48,639$48,206$47,783$47,371$46,968$45,666
2 years$24,079$23,630$23,196$22,774$22,366$21,063
3 years$15,893$15,443$15,009$14,592$14,190$12,928
4 years$11,801$11,352$10,923$10,513$10,120$8,909
5 years$9,346$8,900$8,477$8,075$7,693$6,536
6 years$7,711$7,268$6,850$6,457$6,087$4,985
7 years$6,543$6,103$5,693$5,309$4,951$3,903
8 years$5,667$5,232$4,828$4,454$4,107$3,114
9 years$4,986$4,555$4,158$3,793$3,459$2,519
10 years$4,442$4,015$3,625$3,270$2,947$2,059
11 years$3,997$3,574$3,192$2,846$2,535$1,698
12 years$3,627$3,208$2,832$2,496$2,196$1,409
13 years$3,313$2,899$2,531$2,204$1,915$1,175
14 years$3,045$2,635$2,274$1,956$1,679$984
15 years$2,813$2,407$2,053$1,745$1,478$827
16 years$2,609$2,209$1,861$1,562$1,306$698
17 years$2,430$2,034$1,694$1,404$1,158$590
18 years$2,272$1,880$1,546$1,265$1,030$499
19 years$2,130$1,742$1,415$1,143$918$423
20 years$2,002$1,619$1,299$1,035$820$360
21 years$1,886$1,508$1,195$939$734$306
22 years$1,782$1,408$1,101$854$658$260
23 years$1,686$1,316$1,017$778$590$222
24 years$1,599$1,233$940$710$531$189
25 years$1,519$1,158$871$648$478$161
26 years$1,445$1,088$808$592$430$138
27 years$1,376$1,024$750$542$388$118
28 years$1,313$965$697$497$350$100
29 years$1,254$910$649$456$316$86
30 years$1,199$860$604$418$286$73
31 years$1,148$813$563$384$258$63
32 years$1,100$769$526$353$234$54
33 years$1,055$728$491$325$211$46
34 years$1,013$690$459$299$191$39
35 years$973$655$429$275$173$34
36 years$935$621$401$253$157$29
37 years$900$590$375$233$142$25
38 years$867$561$352$215$129$21
39 years$835$533$329$198$117$18
40 years$805$507$309$183$106$15
41 years$777$483$290$169$96$13
42 years$750$460$272$156$87$11
43 years$724$438$255$144$79$10
44 years$700$418$239$133$72$8
45 years$677$398$225$123$65$7
46 years$654$380$211$113$59$6
47 years$633$363$198$105$54$5
48 years$613$346$186$97$49$4
49 years$594$331$175$89$44$4
50 years$575$316$165$83$40$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $589,000, adding $6,042 every year, while hoping to spend $24,960 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: 68/19/13 Blend
63$589,000$589,000$589,000$589,000
64$655,310$624,093$614,964$697,557
65$695,595$628,117$609,008$730,469
66$739,152$631,501$602,016$762,913
67$786,288$634,187$593,927$797,756
68$837,343$636,116$584,676$835,230
69$892,687$637,221$574,198$875,591
70$952,729$637,432$562,422$919,123
71$1,017,919$636,678$549,274$966,137
72$1,088,750$634,878$534,678$1,016,980
73$1,165,767$631,952$518,554$1,072,029
74$1,249,567$627,809$500,818$1,131,706
75$1,340,809$622,358$481,381$1,196,473
76$1,440,216$615,499$460,153$1,266,841
77$1,548,587$607,127$437,037$1,343,373
78$1,666,798$597,131$411,932$1,426,691
79$1,795,814$585,394$384,735$1,517,481
80$1,936,699$571,789$355,335$1,616,500
81$2,090,622$556,187$323,618$1,724,583
82$2,258,871$538,445$289,465$1,842,652
83$2,442,864$518,417$252,750$1,971,722
84$2,644,162$495,946$213,344$2,112,915
85$2,864,485$470,865$171,109$2,267,468
86$3,105,725$443,000$125,903$2,436,745
87$3,369,967$412,165$77,579$2,622,252
88$3,659,506$378,164$25,981$2,825,650
89$3,976,871$340,790$0$3,048,769
90$4,324,847$299,824$0$3,297,665
91$4,706,500$255,033$0$3,574,640
92$5,125,208$206,175$0$3,878,569
93$5,584,691$152,989$0$4,212,188
94$6,089,048$95,204$0$4,578,513
95$6,642,792$32,531$0$4,980,870
96$7,250,898$0$0$5,422,925
97$7,918,843$0$0$5,916,106
98$8,652,661$0$0$6,465,435
99$9,459,000$0$0$7,069,090
100$10,345,185$0$0$7,732,559