Can I retire at age 64 with 590,000?

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 $590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$48,722$48,288$47,864$47,451$47,047$46,135
2 years$24,120$23,670$23,235$22,813$22,404$21,488
3 years$15,920$15,469$15,035$14,616$14,214$13,324
4 years$11,821$11,371$10,941$10,530$10,137$9,280
5 years$9,362$8,915$8,491$8,088$7,706$6,883
6 years$7,724$7,280$6,862$6,468$6,098$5,310
7 years$6,554$6,114$5,702$5,318$4,959$4,208
8 years$5,677$5,241$4,836$4,461$4,114$3,398
9 years$4,995$4,563$4,165$3,800$3,465$2,784
10 years$4,450$4,022$3,631$3,276$2,952$2,306
11 years$4,004$3,580$3,197$2,851$2,539$1,926
12 years$3,633$3,214$2,837$2,500$2,200$1,620
13 years$3,319$2,904$2,535$2,208$1,919$1,371
14 years$3,050$2,640$2,278$1,960$1,682$1,165
15 years$2,817$2,412$2,056$1,748$1,481$994
16 years$2,614$2,213$1,864$1,565$1,309$850
17 years$2,435$2,038$1,697$1,406$1,160$730
18 years$2,275$1,883$1,549$1,267$1,032$628
19 years$2,133$1,745$1,418$1,145$920$541
20 years$2,005$1,622$1,301$1,037$821$467
21 years$1,890$1,510$1,197$941$735$403
22 years$1,785$1,410$1,103$856$659$349
23 years$1,689$1,319$1,018$779$591$302
24 years$1,602$1,236$942$711$532$262
25 years$1,521$1,159$872$649$478$227
26 years$1,447$1,090$809$593$431$197
27 years$1,378$1,026$751$543$389$171
28 years$1,315$966$698$498$351$149
29 years$1,256$912$650$456$317$129
30 years$1,201$861$605$419$286$113
31 years$1,150$814$564$385$259$98
32 years$1,102$770$527$354$234$85
33 years$1,057$729$492$325$212$74
34 years$1,014$691$459$299$192$65
35 years$975$656$430$275$174$56
36 years$937$622$402$254$157$49
37 years$902$591$376$234$143$43
38 years$868$562$352$215$129$37
39 years$837$534$330$199$117$32
40 years$807$508$309$183$106$28
41 years$778$484$290$169$96$25
42 years$751$461$272$156$88$21
43 years$725$439$255$144$79$19
44 years$701$418$240$133$72$16
45 years$678$399$225$123$65$14
46 years$655$381$211$113$59$12
47 years$634$363$199$105$54$11
48 years$614$347$187$97$49$9
49 years$595$331$175$89$45$8
50 years$576$316$165$83$40$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $590,000, adding $4,322 every year, while hoping to spend $32,015 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: 58/22/20 Blend
63$590,000$590,000$590,000$590,000
64$654,638$623,368$614,223$688,898
65$687,348$619,849$600,736$709,157
66$722,320$615,085$585,724$727,390
67$759,753$608,981$569,102$746,556
68$799,863$601,436$550,782$766,752
69$842,886$592,343$530,670$788,085
70$889,083$581,591$508,670$810,676
71$938,739$569,058$484,680$834,660
72$992,167$554,619$458,594$860,184
73$1,049,712$538,139$430,300$887,415
74$1,111,752$519,477$399,684$916,538
75$1,178,700$498,481$366,624$947,759
76$1,251,015$474,994$330,993$981,306
77$1,329,196$448,846$292,659$1,017,434
78$1,413,795$419,860$251,483$1,056,425
79$1,505,417$387,849$207,323$1,098,594
80$1,604,728$352,612$160,027$1,144,289
81$1,712,461$313,940$109,438$1,193,896
82$1,829,419$271,611$55,392$1,247,846
83$1,956,490$225,389$0$1,306,616
84$2,094,646$175,028$0$1,371,220
85$2,244,960$120,264$0$1,454,405
86$2,408,611$60,822$0$1,545,027
87$2,586,896$0$0$1,643,847
88$2,781,244$0$0$1,752,576
89$2,993,225$0$0$1,887,275
90$3,224,570$0$0$2,034,327
91$3,477,181$0$0$2,194,945
92$3,753,156$0$0$2,370,470
93$4,054,802$0$0$2,562,375
94$4,384,658$0$0$2,772,284
95$4,745,522$0$0$3,001,982
96$5,140,473$0$0$3,253,437
97$5,572,903$0$0$3,528,816
98$6,046,546$0$0$3,830,505
99$6,565,515$0$0$4,161,132
100$7,134,338$0$0$4,523,590