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%15.6%
1 years$51,199$50,743$50,298$49,864$49,440$48,303
2 years$25,346$24,874$24,417$23,973$23,543$22,404
3 years$16,730$16,255$15,799$15,360$14,936$13,831
4 years$12,422$11,949$11,498$11,066$10,653$9,589
5 years$9,838$9,369$8,923$8,500$8,098$7,080
6 years$8,116$7,650$7,211$6,797$6,408$5,435
7 years$6,887$6,425$5,992$5,588$5,211$4,285
8 years$5,965$5,507$5,082$4,688$4,323$3,442
9 years$5,249$4,795$4,377$3,993$3,641$2,805
10 years$4,676$4,226$3,816$3,442$3,102$2,310
11 years$4,207$3,763$3,360$2,996$2,668$1,919
12 years$3,817$3,377$2,982$2,628$2,312$1,605
13 years$3,488$3,052$2,664$2,320$2,016$1,350
14 years$3,205$2,774$2,393$2,059$1,767$1,140
15 years$2,961$2,534$2,161$1,836$1,556$966
16 years$2,747$2,325$1,959$1,644$1,375$822
17 years$2,558$2,141$1,783$1,477$1,219$701
18 years$2,391$1,979$1,627$1,331$1,084$598
19 years$2,242$1,834$1,490$1,203$966$512
20 years$2,107$1,704$1,367$1,090$863$439
21 years$1,986$1,587$1,258$989$772$377
22 years$1,875$1,482$1,159$899$692$324
23 years$1,775$1,386$1,070$819$622$279
24 years$1,683$1,298$990$747$559$240
25 years$1,598$1,218$917$682$503$206
26 years$1,521$1,145$850$624$453$178
27 years$1,449$1,078$790$571$408$153
28 years$1,382$1,016$734$523$368$132
29 years$1,320$958$683$480$333$114
30 years$1,262$905$636$440$301$99
31 years$1,208$855$593$404$272$85
32 years$1,158$809$553$372$246$74
33 years$1,110$766$517$342$222$64
34 years$1,066$726$483$314$201$55
35 years$1,024$689$451$289$182$47
36 years$985$654$422$267$165$41
37 years$948$621$395$246$150$35
38 years$912$590$370$226$136$31
39 years$879$561$347$209$123$27
40 years$848$534$325$192$112$23
41 years$818$508$305$178$101$20
42 years$789$484$286$164$92$17
43 years$762$461$268$151$83$15
44 years$737$440$252$140$76$13
45 years$712$419$236$129$69$11
46 years$689$400$222$119$62$10
47 years$667$382$209$110$57$8
48 years$645$364$196$102$51$7
49 years$625$348$184$94$47$6
50 years$605$332$173$87$42$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $620,000, adding $3,796 every year, while hoping to spend $48,675 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: 35/48/17 Blend
63$620,000$620,000$620,000$620,000
64$687,156$654,296$644,686$707,501
65$705,456$634,566$614,493$702,936
66$723,991$612,239$581,657$693,180
67$742,734$587,135$546,039$681,620
68$761,653$559,064$507,491$668,123
69$780,712$527,828$465,862$652,548
70$799,867$493,215$420,991$634,744
71$819,071$455,000$372,712$614,551
72$838,270$412,948$320,851$591,797
73$857,399$366,809$265,226$566,302
74$876,389$316,317$205,646$537,871
75$895,159$261,196$141,913$506,298
76$913,619$201,148$73,821$471,364
77$931,668$135,864$1,154$432,835
78$949,190$65,013$0$390,461
79$966,059$0$0$357,836
80$982,129$0$0$328,147
81$997,241$0$0$332,380
82$1,011,215$0$0$336,124
83$1,023,850$0$0$339,299
84$1,034,923$0$0$341,819
85$1,044,184$0$0$343,584
86$1,051,357$0$0$344,487
87$1,056,132$0$0$344,407
88$1,058,167$0$0$343,209
89$1,057,080$0$0$340,745
90$1,052,448$0$0$336,849
91$1,043,802$0$0$331,338
92$1,030,619$0$0$324,009
93$1,012,323$0$0$314,637
94$988,273$0$0$302,972
95$957,760$0$0$288,740
96$919,998$0$0$271,634
97$874,117$0$0$251,317
98$819,155$0$0$227,414
99$754,048$0$0$199,513
100$677,616$0$0$167,157