Can I retire at age 64 with 595,000?

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 $595,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$49,135$48,697$48,270$47,853$47,446$46,795
2 years$24,324$23,871$23,432$23,006$22,593$21,939
3 years$16,055$15,600$15,162$14,740$14,334$13,696
4 years$11,921$11,468$11,034$10,620$10,223$9,607
5 years$9,442$8,991$8,563$8,157$7,772$7,178
6 years$7,789$7,342$6,920$6,523$6,149$5,580
7 years$6,609$6,165$5,751$5,363$5,001$4,456
8 years$5,725$5,285$4,877$4,499$4,149$3,628
9 years$5,037$4,602$4,201$3,832$3,494$2,997
10 years$4,487$4,056$3,662$3,303$2,977$2,504
11 years$4,038$3,611$3,224$2,875$2,560$2,110
12 years$3,663$3,241$2,861$2,522$2,219$1,791
13 years$3,347$2,929$2,556$2,226$1,935$1,529
14 years$3,076$2,662$2,297$1,976$1,696$1,312
15 years$2,841$2,432$2,074$1,762$1,493$1,130
16 years$2,636$2,231$1,880$1,578$1,320$976
17 years$2,455$2,055$1,711$1,418$1,170$846
18 years$2,295$1,899$1,562$1,278$1,041$735
19 years$2,151$1,760$1,430$1,155$927$640
20 years$2,022$1,635$1,312$1,046$828$558
21 years$1,906$1,523$1,207$949$741$488
22 years$1,800$1,422$1,112$863$664$426
23 years$1,703$1,330$1,027$786$596$373
24 years$1,615$1,246$950$717$536$327
25 years$1,534$1,169$880$655$482$287
26 years$1,459$1,099$816$599$435$252
27 years$1,390$1,034$758$548$392$221
28 years$1,326$975$704$502$354$195
29 years$1,267$919$655$460$319$171
30 years$1,211$868$611$422$288$150
31 years$1,159$821$569$388$261$132
32 years$1,111$777$531$357$236$117
33 years$1,066$735$496$328$213$103
34 years$1,023$697$463$302$193$90
35 years$983$661$433$278$175$80
36 years$945$628$405$256$159$70
37 years$909$596$379$236$144$62
38 years$876$566$355$217$130$55
39 years$844$539$333$200$118$48
40 years$813$512$312$185$107$42
41 years$785$488$292$170$97$37
42 years$758$465$274$157$88$33
43 years$732$443$257$145$80$29
44 years$707$422$242$134$73$26
45 years$683$402$227$124$66$23
46 years$661$384$213$114$60$20
47 years$640$366$200$106$54$18
48 years$619$350$188$98$49$16
49 years$600$334$177$90$45$14
50 years$581$319$166$83$41$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $595,000, adding $2,618 every year, while hoping to spend $37,261 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: 58/21/21 Blend
63$595,000$595,000$595,000$595,000
64$658,390$626,855$617,633$692,748
65$685,901$617,926$598,678$707,490
66$714,969$607,310$577,840$719,303
67$745,713$594,886$555,015$731,361
68$778,264$580,524$530,097$743,697
69$812,766$564,088$502,973$756,346
70$849,372$545,433$473,527$769,351
71$888,254$524,405$441,637$782,761
72$929,598$500,843$407,173$796,631
73$973,607$474,575$370,004$811,025
74$1,020,505$445,418$329,989$826,015
75$1,070,536$413,183$286,982$841,684
76$1,123,966$377,665$240,832$858,124
77$1,181,090$338,650$191,379$875,442
78$1,242,229$295,911$138,458$893,757
79$1,307,735$249,209$81,895$913,205
80$1,377,994$198,291$21,509$933,937
81$1,453,431$142,889$0$956,125
82$1,534,512$82,722$0$989,581
83$1,621,748$17,490$0$1,030,671
84$1,715,698$0$0$1,074,859
85$1,816,981$0$0$1,134,741
86$1,926,272$0$0$1,203,758
87$2,044,316$0$0$1,278,342
88$2,171,929$0$0$1,359,016
89$2,310,011$0$0$1,446,352
90$2,459,547$0$0$1,540,982
91$2,621,625$0$0$1,643,597
92$2,797,438$0$0$1,754,960
93$2,988,299$0$0$1,875,909
94$3,195,651$0$0$2,007,367
95$3,421,083$0$0$2,150,346
96$3,666,343$0$0$2,305,964
97$3,933,353$0$0$2,475,448
98$4,224,229$0$0$2,660,148
99$4,541,300$0$0$2,861,553
100$4,887,126$0$0$3,081,298