Can I retire at age 64 with 616,000?

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 $616,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$50,869$50,416$49,974$49,542$49,121$48,407
2 years$25,183$24,714$24,259$23,818$23,391$22,673
3 years$16,622$16,151$15,697$15,261$14,840$14,141
4 years$12,342$11,872$11,424$10,994$10,584$9,909
5 years$9,775$9,308$8,865$8,445$8,046$7,396
6 years$8,064$7,601$7,164$6,753$6,366$5,743
7 years$6,842$6,383$5,954$5,552$5,178$4,581
8 years$5,927$5,471$5,049$4,658$4,295$3,726
9 years$5,215$4,764$4,349$3,967$3,617$3,074
10 years$4,646$4,199$3,791$3,420$3,082$2,565
11 years$4,180$3,738$3,338$2,976$2,651$2,159
12 years$3,793$3,355$2,962$2,611$2,297$1,830
13 years$3,465$3,032$2,647$2,305$2,003$1,561
14 years$3,184$2,756$2,378$2,046$1,756$1,337
15 years$2,942$2,518$2,147$1,825$1,546$1,150
16 years$2,729$2,310$1,947$1,634$1,366$992
17 years$2,542$2,127$1,771$1,468$1,212$859
18 years$2,376$1,966$1,617$1,323$1,077$745
19 years$2,227$1,822$1,480$1,195$960$648
20 years$2,094$1,693$1,359$1,083$858$564
21 years$1,973$1,577$1,250$983$767$492
22 years$1,863$1,472$1,152$893$688$430
23 years$1,764$1,377$1,063$814$618$375
24 years$1,672$1,290$983$742$555$329
25 years$1,588$1,211$911$678$499$288
26 years$1,511$1,138$845$620$450$252
27 years$1,439$1,071$784$567$406$221
28 years$1,373$1,009$729$520$366$194
29 years$1,311$952$679$477$330$170
30 years$1,254$899$632$437$299$150
31 years$1,200$850$589$402$270$132
32 years$1,150$804$550$369$244$116
33 years$1,103$761$513$339$221$102
34 years$1,059$722$480$312$200$89
35 years$1,017$685$448$288$181$79
36 years$978$650$420$265$164$69
37 years$941$617$393$244$149$61
38 years$907$586$368$225$135$54
39 years$873$558$345$207$122$47
40 years$842$531$323$191$111$42
41 years$812$505$303$176$101$37
42 years$784$481$284$163$91$32
43 years$757$458$267$150$83$28
44 years$732$437$250$139$75$25
45 years$708$417$235$128$68$22
46 years$684$397$221$118$62$19
47 years$662$379$207$109$56$17
48 years$641$362$195$101$51$15
49 years$621$346$183$93$46$13
50 years$601$330$172$86$42$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $616,000, adding $6,976 every year, while hoping to spend $36,415 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: 54/35/11 Blend
63$616,000$616,000$616,000$616,000
64$686,028$653,380$643,832$720,778
65$717,257$646,650$626,655$738,426
66$750,452$638,370$607,682$753,075
67$785,773$628,426$586,815$768,166
68$823,399$616,695$563,950$783,749
69$863,523$603,051$538,979$799,879
70$906,358$587,356$511,791$816,621
71$952,137$569,466$482,266$834,046
72$1,001,115$549,231$450,282$852,238
73$1,053,572$526,487$415,711$871,289
74$1,109,816$501,064$378,417$891,304
75$1,170,184$472,783$338,260$912,401
76$1,235,045$441,451$295,094$934,714
77$1,304,805$406,868$248,765$958,393
78$1,379,909$368,819$199,113$983,606
79$1,460,848$327,079$145,971$1,010,544
80$1,548,159$281,410$89,165$1,039,418
81$1,642,431$231,559$28,513$1,070,468
82$1,744,315$177,262$0$1,103,959
83$1,854,524$118,236$0$1,144,443
84$1,973,840$54,184$0$1,191,849
85$2,103,127$0$0$1,243,225
86$2,243,332$0$0$1,304,870
87$2,395,496$0$0$1,394,473
88$2,560,767$0$0$1,491,844
89$2,740,404$0$0$1,597,734
90$2,935,796$0$0$1,712,968
91$3,148,467$0$0$1,838,451
92$3,380,098$0$0$1,975,183
93$3,632,534$0$0$2,124,261
94$3,907,811$0$0$2,286,895
95$4,208,167$0$0$2,464,416
96$4,536,063$0$0$2,658,287
97$4,894,213$0$0$2,870,123
98$5,285,602$0$0$3,101,697
99$5,713,516$0$0$3,354,965
100$6,181,574$0$0$3,632,078