Can I retire at age 64 with 601,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $601,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$49,630$49,188$48,757$48,336$47,925$46,005
2 years$24,569$24,112$23,668$23,238$22,821$20,911
3 years$16,217$15,757$15,315$14,889$14,479$12,639
4 years$12,041$11,583$11,145$10,727$10,326$8,570
5 years$9,537$9,081$8,649$8,239$7,850$6,182
6 years$7,868$7,416$6,990$6,589$6,211$4,633
7 years$6,676$6,228$5,809$5,417$5,052$3,562
8 years$5,782$5,338$4,926$4,544$4,191$2,788
9 years$5,088$4,648$4,243$3,871$3,529$2,212
10 years$4,533$4,097$3,699$3,337$3,007$1,772
11 years$4,078$3,647$3,257$2,904$2,586$1,431
12 years$3,700$3,274$2,890$2,547$2,241$1,162
13 years$3,381$2,958$2,582$2,249$1,954$949
14 years$3,107$2,689$2,320$1,996$1,713$777
15 years$2,870$2,456$2,095$1,780$1,508$639
16 years$2,663$2,254$1,899$1,594$1,333$526
17 years$2,480$2,076$1,728$1,432$1,182$434
18 years$2,318$1,918$1,578$1,291$1,051$359
19 years$2,173$1,778$1,444$1,166$937$297
20 years$2,043$1,652$1,325$1,056$837$246
21 years$1,925$1,539$1,219$959$749$204
22 years$1,818$1,436$1,124$872$671$170
23 years$1,721$1,343$1,037$794$602$141
24 years$1,631$1,259$959$724$542$117
25 years$1,549$1,181$889$661$487$97
26 years$1,474$1,110$824$605$439$81
27 years$1,404$1,045$765$553$396$67
28 years$1,339$984$711$507$357$56
29 years$1,279$929$662$465$322$47
30 years$1,223$877$617$427$291$39
31 years$1,171$829$575$392$263$32
32 years$1,122$784$536$360$238$27
33 years$1,076$743$501$331$216$22
34 years$1,033$704$468$305$195$19
35 years$993$668$438$281$177$16
36 years$955$634$409$258$160$13
37 years$918$602$383$238$145$11
38 years$884$572$359$219$132$9
39 years$852$544$336$202$119$8
40 years$822$518$315$187$108$6
41 years$793$493$295$172$98$5
42 years$765$469$277$159$89$4
43 years$739$447$260$147$81$4
44 years$714$426$244$135$73$3
45 years$690$406$229$125$67$3
46 years$668$388$215$116$61$2
47 years$646$370$202$107$55$2
48 years$625$353$190$99$50$1
49 years$606$337$179$91$45$1
50 years$587$322$168$84$41$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $601,000, adding $6,621 every year, while hoping to spend $42,271 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: 68/21/11 Blend
63$601,000$601,000$601,000$601,000
64$669,132$637,279$627,963$712,627
65$692,407$623,529$604,024$728,636
66$716,640$607,689$577,866$740,450
67$741,883$589,612$549,370$752,266
68$768,193$569,141$518,413$764,079
69$795,633$546,113$484,863$775,883
70$824,267$520,352$448,586$787,675
71$854,167$491,675$409,439$799,452
72$885,411$459,886$367,274$811,210
73$918,082$424,779$321,936$822,951
74$952,269$386,136$273,263$834,675
75$988,070$343,726$221,088$846,385
76$1,025,592$297,307$165,232$858,087
77$1,064,947$246,620$105,513$869,790
78$1,106,262$191,394$41,737$881,505
79$1,149,670$131,342$0$893,247
80$1,195,319$66,160$0$908,125
81$1,243,368$0$0$928,503
82$1,293,991$0$0$950,566
83$1,347,377$0$0$989,970
84$1,403,733$0$0$1,031,580
85$1,463,283$0$0$1,075,564
86$1,526,272$0$0$1,122,106
87$1,592,970$0$0$1,171,405
88$1,663,667$0$0$1,223,681
89$1,738,685$0$0$1,279,171
90$1,818,372$0$0$1,338,138
91$1,903,110$0$0$1,400,867
92$1,993,319$0$0$1,467,670
93$2,089,457$0$0$1,538,891
94$2,192,024$0$0$1,614,905
95$2,301,570$0$0$1,696,121
96$2,418,697$0$0$1,782,992
97$2,544,067$0$0$1,876,010
98$2,678,401$0$0$1,975,717
99$2,822,496$0$0$2,082,707
100$2,977,221$0$0$2,197,633