Can I retire at age 64 with 598,000?

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 $598,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$49,382$48,942$48,513$48,094$47,685$46,570
2 years$24,447$23,991$23,550$23,122$22,707$21,590
3 years$16,136$15,679$15,238$14,815$14,406$13,322
4 years$11,981$11,525$11,090$10,673$10,275$9,232
5 years$9,489$9,036$8,606$8,198$7,811$6,812
6 years$7,828$7,379$6,955$6,556$6,180$5,227
7 years$6,643$6,197$5,780$5,390$5,026$4,118
8 years$5,754$5,312$4,902$4,522$4,170$3,307
9 years$5,062$4,625$4,222$3,851$3,512$2,693
10 years$4,510$4,076$3,681$3,320$2,992$2,217
11 years$4,058$3,629$3,240$2,889$2,573$1,840
12 years$3,682$3,257$2,876$2,534$2,230$1,538
13 years$3,364$2,944$2,569$2,237$1,945$1,292
14 years$3,091$2,676$2,308$1,986$1,705$1,091
15 years$2,856$2,444$2,084$1,771$1,501$924
16 years$2,649$2,243$1,890$1,586$1,326$785
17 years$2,468$2,065$1,720$1,425$1,176$669
18 years$2,306$1,908$1,570$1,284$1,046$571
19 years$2,162$1,769$1,437$1,160$932$488
20 years$2,032$1,644$1,319$1,051$833$418
21 years$1,915$1,531$1,213$954$745$359
22 years$1,809$1,429$1,118$867$668$308
23 years$1,712$1,337$1,032$790$599$265
24 years$1,623$1,252$955$720$539$228
25 years$1,542$1,175$884$658$485$196
26 years$1,467$1,105$820$602$437$169
27 years$1,397$1,039$762$551$394$145
28 years$1,333$979$708$504$355$125
29 years$1,273$924$659$463$321$108
30 years$1,217$873$614$425$290$93
31 years$1,165$825$572$390$262$80
32 years$1,117$781$534$358$237$69
33 years$1,071$739$498$330$215$60
34 years$1,028$701$466$303$194$52
35 years$988$665$435$279$176$45
36 years$950$631$407$257$159$39
37 years$914$599$381$237$144$33
38 years$880$569$357$218$131$29
39 years$848$541$334$201$119$25
40 years$818$515$313$186$108$21
41 years$789$490$294$171$98$19
42 years$761$467$276$158$89$16
43 years$735$445$259$146$80$14
44 years$711$424$243$135$73$12
45 years$687$404$228$124$66$10
46 years$664$386$214$115$60$9
47 years$643$368$201$106$55$8
48 years$622$351$189$98$50$7
49 years$603$336$178$91$45$6
50 years$584$321$167$84$41$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $598,000, adding $4,474 every year, while hoping to spend $25,642 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: 85/9/6 Blend
63$598,000$598,000$598,000$598,000
64$663,611$631,917$622,648$719,444
65$704,016$635,598$616,224$760,212
66$747,684$638,600$608,725$801,013
67$794,919$640,863$600,088$845,019
68$846,057$642,322$590,248$892,533
69$901,469$642,909$579,135$943,891
70$961,559$642,552$566,677$999,462
71$1,026,775$641,174$552,798$1,059,653
72$1,097,608$638,694$537,418$1,124,911
73$1,174,598$635,024$520,456$1,195,728
74$1,258,340$630,073$501,824$1,272,649
75$1,349,487$623,743$481,432$1,356,270
76$1,448,760$615,931$459,184$1,447,251
77$1,556,949$606,528$434,983$1,546,316
78$1,674,927$595,417$408,724$1,654,265
79$1,803,652$582,475$380,299$1,771,977
80$1,944,181$567,572$349,595$1,900,423
81$2,097,675$550,571$316,494$2,040,670
82$2,265,414$531,325$280,872$2,193,897
83$2,448,806$509,680$242,602$2,361,399
84$2,649,403$485,472$201,547$2,544,606
85$2,868,910$458,529$157,567$2,745,093
86$3,109,210$428,668$110,517$2,964,594
87$3,372,372$395,695$60,241$3,205,020
88$3,660,676$359,406$6,582$3,468,479
89$3,976,633$319,585$0$3,757,293
90$4,323,009$276,004$0$4,077,263
91$4,702,849$228,421$0$4,428,625
92$5,119,508$176,582$0$4,814,075
93$5,576,680$120,217$0$5,237,049
94$6,078,436$59,042$0$5,701,332
95$6,629,259$0$0$6,211,095
96$7,234,086$0$0$6,771,652
97$7,898,358$0$0$7,393,733
98$8,628,067$0$0$8,077,105
99$9,429,815$0$0$8,827,951
100$10,310,875$0$0$9,653,083