Can I retire at age 64 with 597,000?

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 $597,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$49,300$48,861$48,432$48,014$47,606$47,030
2 years$24,406$23,951$23,511$23,084$22,669$22,090
3 years$16,109$15,652$15,213$14,790$14,382$13,818
4 years$11,961$11,506$11,071$10,655$10,258$9,712
5 years$9,473$9,021$8,592$8,184$7,798$7,272
6 years$7,815$7,366$6,943$6,545$6,170$5,665
7 years$6,631$6,186$5,770$5,381$5,018$4,534
8 years$5,744$5,303$4,893$4,514$4,163$3,700
9 years$5,054$4,617$4,215$3,845$3,506$3,064
10 years$4,502$4,070$3,674$3,314$2,987$2,566
11 years$4,051$3,623$3,235$2,885$2,569$2,168
12 years$3,676$3,252$2,871$2,530$2,226$1,845
13 years$3,358$2,939$2,565$2,234$1,941$1,579
14 years$3,086$2,671$2,305$1,983$1,702$1,358
15 years$2,851$2,440$2,081$1,768$1,498$1,173
16 years$2,645$2,239$1,887$1,583$1,324$1,017
17 years$2,463$2,062$1,717$1,423$1,174$884
18 years$2,302$1,905$1,567$1,282$1,044$770
19 years$2,158$1,766$1,435$1,158$931$672
20 years$2,029$1,641$1,317$1,049$831$588
21 years$1,912$1,528$1,211$952$744$515
22 years$1,806$1,427$1,116$866$667$452
23 years$1,709$1,334$1,031$788$598$397
24 years$1,621$1,250$953$719$538$349
25 years$1,539$1,173$883$657$484$307
26 years$1,464$1,103$819$601$436$270
27 years$1,395$1,038$760$550$393$238
28 years$1,331$978$707$504$355$210
29 years$1,271$922$658$462$320$185
30 years$1,215$871$613$424$289$164
31 years$1,163$824$571$389$262$144
32 years$1,115$779$533$358$237$128
33 years$1,069$738$498$329$214$113
34 years$1,026$699$465$303$194$100
35 years$986$663$435$279$176$88
36 years$948$630$407$257$159$78
37 years$912$598$381$236$144$69
38 years$879$568$356$218$131$61
39 years$847$540$334$201$119$54
40 years$816$514$313$185$108$48
41 years$787$489$293$171$98$42
42 years$760$466$275$158$89$37
43 years$734$444$258$146$80$33
44 years$709$423$242$135$73$29
45 years$686$404$228$124$66$26
46 years$663$385$214$115$60$23
47 years$642$368$201$106$55$20
48 years$621$351$189$98$50$18
49 years$602$335$177$91$45$16
50 years$583$320$167$84$41$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $597,000, adding $5,815 every year, while hoping to spend $40,473 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: 44/43/13 Blend
63$597,000$597,000$597,000$597,000
64$663,892$632,251$622,998$690,379
65$688,546$620,169$600,805$697,350
66$714,358$606,137$576,513$700,369
67$741,404$590,019$550,007$702,750
68$769,766$571,668$521,170$704,451
69$799,531$550,929$489,879$705,430
70$830,797$527,639$456,004$705,641
71$863,668$501,623$419,409$705,039
72$898,258$472,698$379,955$703,578
73$934,690$440,670$337,494$701,210
74$973,101$405,335$291,872$697,888
75$1,013,636$366,475$242,928$693,565
76$1,056,455$323,861$190,495$688,191
77$1,101,735$277,251$134,398$681,719
78$1,149,664$226,390$74,453$674,101
79$1,200,453$171,005$10,470$665,291
80$1,254,328$110,813$0$655,245
81$1,311,538$45,512$0$651,937
82$1,372,355$0$0$649,380
83$1,437,078$0$0$658,044
84$1,506,032$0$0$690,257
85$1,579,574$0$0$724,656
86$1,658,095$0$0$761,430
87$1,742,023$0$0$800,785
88$1,831,828$0$0$842,947
89$1,928,025$0$0$888,165
90$2,031,178$0$0$936,711
91$2,141,908$0$0$988,885
92$2,260,894$0$0$1,045,014
93$2,388,883$0$0$1,105,459
94$2,526,694$0$0$1,170,615
95$2,675,227$0$0$1,240,918
96$2,835,471$0$0$1,316,846
97$3,008,513$0$0$1,398,923
98$3,195,545$0$0$1,487,726
99$3,397,879$0$0$1,583,889
100$3,616,958$0$0$1,688,110