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%18.3%
1 years$50,869$50,416$49,974$49,542$49,121$47,472
2 years$25,183$24,714$24,259$23,818$23,391$21,746
3 years$16,622$16,151$15,697$15,261$14,840$13,251
4 years$12,342$11,872$11,424$10,994$10,584$9,063
5 years$9,775$9,308$8,865$8,445$8,046$6,596
6 years$8,064$7,601$7,164$6,753$6,366$4,990
7 years$6,842$6,383$5,954$5,552$5,178$3,874
8 years$5,927$5,471$5,049$4,658$4,295$3,063
9 years$5,215$4,764$4,349$3,967$3,617$2,455
10 years$4,646$4,199$3,791$3,420$3,082$1,989
11 years$4,180$3,738$3,338$2,976$2,651$1,624
12 years$3,793$3,355$2,962$2,611$2,297$1,334
13 years$3,465$3,032$2,647$2,305$2,003$1,101
14 years$3,184$2,756$2,378$2,046$1,756$913
15 years$2,942$2,518$2,147$1,825$1,546$759
16 years$2,729$2,310$1,947$1,634$1,366$633
17 years$2,542$2,127$1,771$1,468$1,212$529
18 years$2,376$1,966$1,617$1,323$1,077$443
19 years$2,227$1,822$1,480$1,195$960$372
20 years$2,094$1,693$1,359$1,083$858$312
21 years$1,973$1,577$1,250$983$767$263
22 years$1,863$1,472$1,152$893$688$221
23 years$1,764$1,377$1,063$814$618$186
24 years$1,672$1,290$983$742$555$157
25 years$1,588$1,211$911$678$499$132
26 years$1,511$1,138$845$620$450$111
27 years$1,439$1,071$784$567$406$94
28 years$1,373$1,009$729$520$366$79
29 years$1,311$952$679$477$330$67
30 years$1,254$899$632$437$299$57
31 years$1,200$850$589$402$270$48
32 years$1,150$804$550$369$244$40
33 years$1,103$761$513$339$221$34
34 years$1,059$722$480$312$200$29
35 years$1,017$685$448$288$181$24
36 years$978$650$420$265$164$21
37 years$941$617$393$244$149$17
38 years$907$586$368$225$135$15
39 years$873$558$345$207$122$12
40 years$842$531$323$191$111$10
41 years$812$505$303$176$101$9
42 years$784$481$284$163$91$7
43 years$757$458$267$150$83$6
44 years$732$437$250$139$75$5
45 years$708$417$235$128$68$5
46 years$684$397$221$118$62$4
47 years$662$379$207$109$56$3
48 years$641$362$195$101$51$3
49 years$621$346$183$93$46$2
50 years$601$330$172$86$42$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $616,000, adding $6,655 every year, while hoping to spend $39,313 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: 60/13/27 Blend
63$616,000$616,000$616,000$616,000
64$685,697$653,049$643,501$721,479
65$713,809$643,219$623,229$736,800
66$743,471$631,591$600,961$748,714
67$774,800$618,033$576,588$760,883
68$807,922$602,409$549,996$773,339
69$842,977$584,574$521,068$786,124
70$880,115$564,373$489,678$799,280
71$919,503$541,644$455,699$812,860
72$961,322$516,213$418,994$826,922
73$1,005,769$487,900$379,422$841,532
74$1,053,061$456,511$336,836$856,767
75$1,103,434$421,841$291,082$872,712
76$1,157,150$383,677$241,998$889,465
77$1,214,490$341,788$189,417$907,136
78$1,275,768$295,936$133,162$925,849
79$1,341,325$245,865$73,051$945,744
80$1,411,534$191,306$8,893$966,979
81$1,486,806$131,976$0$989,731
82$1,567,592$67,575$0$1,031,361
83$1,654,386$0$0$1,078,780
84$1,747,730$0$0$1,130,053
85$1,848,221$0$0$1,195,692
86$1,956,511$0$0$1,266,463
87$2,073,319$0$0$1,342,841
88$2,199,435$0$0$1,425,346
89$2,335,726$0$0$1,514,550
90$2,483,145$0$0$1,611,084
91$2,642,740$0$0$1,715,639
92$2,815,662$0$0$1,828,975
93$3,003,179$0$0$1,951,930
94$3,206,682$0$0$2,085,422
95$3,427,703$0$0$2,230,464
96$3,667,928$0$0$2,388,169
97$3,929,210$0$0$2,559,761
98$4,213,587$0$0$2,746,587
99$4,523,305$0$0$2,950,130
100$4,860,832$0$0$3,172,021