Can I retire at age 64 with 592,000?

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 $592,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$48,887$48,451$48,026$47,612$47,207$45,442
2 years$24,201$23,751$23,314$22,890$22,479$20,721
3 years$15,974$15,521$15,086$14,666$14,262$12,566
4 years$11,861$11,410$10,978$10,566$10,172$8,551
5 years$9,394$8,945$8,520$8,116$7,732$6,191
6 years$7,750$7,305$6,885$6,490$6,118$4,658
7 years$6,576$6,134$5,722$5,336$4,976$3,595
8 years$5,696$5,258$4,852$4,476$4,128$2,826
9 years$5,012$4,578$4,179$3,813$3,476$2,252
10 years$4,465$4,036$3,644$3,287$2,962$1,812
11 years$4,017$3,593$3,208$2,860$2,547$1,470
12 years$3,645$3,225$2,847$2,509$2,208$1,199
13 years$3,330$2,914$2,543$2,215$1,925$984
14 years$3,060$2,649$2,285$1,966$1,687$810
15 years$2,827$2,420$2,063$1,754$1,486$669
16 years$2,623$2,220$1,871$1,570$1,313$554
17 years$2,443$2,045$1,702$1,411$1,164$460
18 years$2,283$1,889$1,554$1,271$1,035$382
19 years$2,140$1,751$1,423$1,149$923$318
20 years$2,012$1,627$1,306$1,040$824$265
21 years$1,896$1,516$1,201$944$738$221
22 years$1,791$1,415$1,107$859$661$184
23 years$1,695$1,323$1,022$782$593$154
24 years$1,607$1,240$945$713$533$129
25 years$1,526$1,163$875$651$480$108
26 years$1,452$1,093$812$595$432$90
27 years$1,383$1,029$754$545$390$75
28 years$1,319$970$701$499$352$63
29 years$1,260$915$652$458$318$53
30 years$1,205$864$607$420$287$44
31 years$1,154$817$566$386$259$37
32 years$1,105$773$528$355$235$31
33 years$1,060$732$493$326$212$26
34 years$1,018$694$461$300$192$22
35 years$978$658$431$276$174$18
36 years$940$624$403$254$158$15
37 years$905$593$377$234$143$13
38 years$871$564$353$216$130$11
39 years$839$536$331$199$118$9
40 years$809$510$310$184$107$8
41 years$781$485$291$170$97$6
42 years$754$462$273$156$88$5
43 years$728$440$256$144$80$4
44 years$703$420$240$133$72$4
45 years$680$400$226$123$66$3
46 years$658$382$212$114$60$3
47 years$636$364$199$105$54$2
48 years$616$348$187$97$49$2
49 years$597$332$176$90$45$2
50 years$578$317$165$83$41$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $592,000, adding $2,348 every year, while hoping to spend $22,571 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: 68/8/24 Blend
63$592,000$592,000$592,000$592,000
64$654,806$623,430$614,254$695,166
65$697,581$629,963$610,816$729,065
66$743,962$636,059$606,507$763,326
67$794,294$641,674$601,272$800,279
68$848,955$646,759$595,058$840,191
69$908,361$651,263$587,805$883,354
70$972,970$655,131$579,453$930,092
71$1,043,286$658,305$569,937$980,762
72$1,119,863$660,724$559,192$1,035,757
73$1,203,311$662,321$547,147$1,095,512
74$1,294,301$663,027$533,729$1,160,506
75$1,393,572$662,767$518,861$1,231,268
76$1,501,937$661,464$502,463$1,308,379
77$1,620,291$659,032$484,452$1,392,484
78$1,749,620$655,384$464,741$1,484,292
79$1,891,008$650,425$443,236$1,584,585
80$2,045,650$644,054$419,844$1,694,225
81$2,214,861$636,168$394,463$1,814,166
82$2,400,089$626,652$366,990$1,945,456
83$2,602,928$615,388$337,314$2,089,254
84$2,825,135$602,251$305,322$2,246,837
85$3,068,644$587,105$270,895$2,419,613
86$3,335,583$569,812$233,908$2,609,136
87$3,628,300$550,219$194,231$2,817,118
88$3,949,377$528,170$151,728$3,045,449
89$4,301,660$503,497$106,258$3,296,212
90$4,688,283$476,023$57,672$3,571,705
91$5,112,699$445,559$5,815$3,874,460
92$5,578,712$411,909$0$4,207,272
93$6,090,510$374,862$0$4,585,901
94$6,652,709$334,197$0$5,003,478
95$7,270,392$289,680$0$5,462,299
96$7,949,161$241,063$0$5,966,542
97$8,695,186$188,086$0$6,520,807
98$9,515,265$130,472$0$7,130,166
99$10,416,886$67,929$0$7,800,205
100$11,408,302$151$0$8,537,082