Can I retire at age 64 with 601,000?

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 $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%15.1%
1 years$49,630$49,188$48,757$48,336$47,925$46,919
2 years$24,569$24,112$23,668$23,238$22,821$21,812
3 years$16,217$15,757$15,315$14,889$14,479$13,499
4 years$12,041$11,583$11,145$10,727$10,326$9,383
5 years$9,537$9,081$8,649$8,239$7,850$6,945
6 years$7,868$7,416$6,990$6,589$6,211$5,346
7 years$6,676$6,228$5,809$5,417$5,052$4,227
8 years$5,782$5,338$4,926$4,544$4,191$3,406
9 years$5,088$4,648$4,243$3,871$3,529$2,783
10 years$4,533$4,097$3,699$3,337$3,007$2,300
11 years$4,078$3,647$3,257$2,904$2,586$1,916
12 years$3,700$3,274$2,890$2,547$2,241$1,608
13 years$3,381$2,958$2,582$2,249$1,954$1,357
14 years$3,107$2,689$2,320$1,996$1,713$1,150
15 years$2,870$2,456$2,095$1,780$1,508$978
16 years$2,663$2,254$1,899$1,594$1,333$835
17 years$2,480$2,076$1,728$1,432$1,182$714
18 years$2,318$1,918$1,578$1,291$1,051$612
19 years$2,173$1,778$1,444$1,166$937$526
20 years$2,043$1,652$1,325$1,056$837$453
21 years$1,925$1,539$1,219$959$749$390
22 years$1,818$1,436$1,124$872$671$336
23 years$1,721$1,343$1,037$794$602$290
24 years$1,631$1,259$959$724$542$251
25 years$1,549$1,181$889$661$487$217
26 years$1,474$1,110$824$605$439$188
27 years$1,404$1,045$765$553$396$163
28 years$1,339$984$711$507$357$141
29 years$1,279$929$662$465$322$122
30 years$1,223$877$617$427$291$106
31 years$1,171$829$575$392$263$92
32 years$1,122$784$536$360$238$80
33 years$1,076$743$501$331$216$69
34 years$1,033$704$468$305$195$60
35 years$993$668$438$281$177$52
36 years$955$634$409$258$160$45
37 years$918$602$383$238$145$39
38 years$884$572$359$219$132$34
39 years$852$544$336$202$119$30
40 years$822$518$315$187$108$26
41 years$793$493$295$172$98$22
42 years$765$469$277$159$89$19
43 years$739$447$260$147$81$17
44 years$714$426$244$135$73$15
45 years$690$406$229$125$67$13
46 years$668$388$215$116$61$11
47 years$646$370$202$107$55$10
48 years$625$353$190$99$50$8
49 years$606$337$179$91$45$7
50 years$587$322$168$84$41$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $601,000, adding $4,258 every year, while hoping to spend $23,293 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: 45/37/18 Blend
63$601,000$601,000$601,000$601,000
64$666,694$634,841$625,526$693,073
65$709,913$641,165$621,697$718,292
66$756,760$647,018$616,960$742,968
67$807,580$652,352$611,258$769,236
68$862,753$657,117$604,535$797,254
69$922,697$661,259$596,730$827,195
70$987,872$664,720$587,780$859,255
71$1,058,782$667,439$577,618$893,649
72$1,135,985$669,350$566,176$930,613
73$1,220,093$670,386$553,380$970,411
74$1,311,779$670,471$539,155$1,013,336
75$1,411,785$669,529$523,421$1,059,708
76$1,520,927$667,476$506,096$1,109,887
77$1,640,104$664,225$487,092$1,164,266
78$1,770,304$659,681$466,319$1,223,284
79$1,912,616$653,746$443,682$1,287,424
80$2,068,239$646,316$419,081$1,357,221
81$2,238,492$637,278$392,413$1,433,268
82$2,424,829$626,515$363,570$1,516,219
83$2,628,849$613,902$332,437$1,606,798
84$2,852,315$599,307$298,897$1,705,806
85$3,097,167$582,589$262,826$1,814,128
86$3,365,543$563,601$224,096$1,932,742
87$3,659,795$542,184$182,570$2,062,729
88$3,982,517$518,174$138,109$2,205,285
89$4,336,563$491,394$90,565$2,361,729
90$4,725,079$461,658$39,785$2,533,521
91$5,151,528$428,770$0$2,722,273
92$5,619,726$392,523$0$2,932,532
93$6,133,877$352,695$0$3,171,832
94$6,698,611$309,055$0$3,434,730
95$7,319,029$261,358$0$3,723,660
96$8,000,749$209,345$0$4,041,307
97$8,749,964$152,741$0$4,390,636
98$9,573,492$91,257$0$4,774,916
99$10,478,847$24,588$0$5,197,754
100$11,474,308$0$0$5,663,129