Can I retire at age 64 with 620,000?

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 $620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$51,199$50,743$50,298$49,864$49,440$48,108
2 years$25,346$24,874$24,417$23,973$23,543$22,210
3 years$16,730$16,255$15,799$15,360$14,936$13,645
4 years$12,422$11,949$11,498$11,066$10,653$9,413
5 years$9,838$9,369$8,923$8,500$8,098$6,913
6 years$8,116$7,650$7,211$6,797$6,408$5,278
7 years$6,887$6,425$5,992$5,588$5,211$4,137
8 years$5,965$5,507$5,082$4,688$4,323$3,305
9 years$5,249$4,795$4,377$3,993$3,641$2,677
10 years$4,676$4,226$3,816$3,442$3,102$2,191
11 years$4,207$3,763$3,360$2,996$2,668$1,808
12 years$3,817$3,377$2,982$2,628$2,312$1,502
13 years$3,488$3,052$2,664$2,320$2,016$1,255
14 years$3,205$2,774$2,393$2,059$1,767$1,053
15 years$2,961$2,534$2,161$1,836$1,556$886
16 years$2,747$2,325$1,959$1,644$1,375$748
17 years$2,558$2,141$1,783$1,477$1,219$633
18 years$2,391$1,979$1,627$1,331$1,084$537
19 years$2,242$1,834$1,490$1,203$966$456
20 years$2,107$1,704$1,367$1,090$863$388
21 years$1,986$1,587$1,258$989$772$331
22 years$1,875$1,482$1,159$899$692$282
23 years$1,775$1,386$1,070$819$622$241
24 years$1,683$1,298$990$747$559$205
25 years$1,598$1,218$917$682$503$176
26 years$1,521$1,145$850$624$453$150
27 years$1,449$1,078$790$571$408$128
28 years$1,382$1,016$734$523$368$110
29 years$1,320$958$683$480$333$94
30 years$1,262$905$636$440$301$80
31 years$1,208$855$593$404$272$69
32 years$1,158$809$553$372$246$59
33 years$1,110$766$517$342$222$51
34 years$1,066$726$483$314$201$43
35 years$1,024$689$451$289$182$37
36 years$985$654$422$267$165$32
37 years$948$621$395$246$150$27
38 years$912$590$370$226$136$23
39 years$879$561$347$209$123$20
40 years$848$534$325$192$112$17
41 years$818$508$305$178$101$15
42 years$789$484$286$164$92$13
43 years$762$461$268$151$83$11
44 years$737$440$252$140$76$9
45 years$712$419$236$129$69$8
46 years$689$400$222$119$62$7
47 years$667$382$209$110$57$6
48 years$645$364$196$102$51$5
49 years$625$348$184$94$47$4
50 years$605$332$173$87$42$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $620,000, adding $4,952 every year, while hoping to spend $43,847 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: 76/11/13 Blend
63$620,000$620,000$620,000$620,000
64$688,348$655,488$645,878$738,473
65$711,907$640,954$620,862$757,683
66$736,399$624,238$593,538$772,724
67$761,873$605,188$563,784$787,995
68$788,382$583,640$531,469$803,506
69$815,982$559,424$496,458$819,264
70$844,734$532,357$458,611$835,281
71$874,703$502,248$417,780$851,570
72$905,958$468,894$373,811$868,145
73$938,575$432,079$326,543$885,023
74$972,636$391,577$275,808$902,224
75$1,008,228$347,147$221,431$919,770
76$1,045,446$298,537$163,229$937,687
77$1,084,394$245,478$101,009$956,005
78$1,125,183$187,686$34,573$974,758
79$1,167,932$124,864$0$993,984
80$1,212,774$56,695$0$1,018,766
81$1,259,849$0$0$1,049,561
82$1,309,312$0$0$1,083,732
83$1,361,331$0$0$1,126,894
84$1,416,087$0$0$1,172,336
85$1,473,779$0$0$1,220,224
86$1,534,623$0$0$1,270,738
87$1,598,855$0$0$1,324,076
88$1,666,730$0$0$1,380,451
89$1,738,530$0$0$1,440,097
90$1,814,561$0$0$1,503,272
91$1,895,155$0$0$1,570,252
92$1,980,678$0$0$1,641,345
93$2,071,530$0$0$1,716,884
94$2,168,146$0$0$1,797,233
95$2,271,005$0$0$1,882,792
96$2,380,630$0$0$1,973,999
97$2,497,592$0$0$2,071,333
98$2,622,520$0$0$2,175,319
99$2,756,101$0$0$2,286,531
100$2,899,089$0$0$2,405,601