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%19.6%
1 years$51,199$50,743$50,298$49,864$49,440$47,534
2 years$25,346$24,874$24,417$23,973$23,543$21,646
3 years$16,730$16,255$15,799$15,360$14,936$13,108
4 years$12,422$11,949$11,498$11,066$10,653$8,906
5 years$9,838$9,369$8,923$8,500$8,098$6,438
6 years$8,116$7,650$7,211$6,797$6,408$4,835
7 years$6,887$6,425$5,992$5,588$5,211$3,726
8 years$5,965$5,507$5,082$4,688$4,323$2,924
9 years$5,249$4,795$4,377$3,993$3,641$2,325
10 years$4,676$4,226$3,816$3,442$3,102$1,868
11 years$4,207$3,763$3,360$2,996$2,668$1,512
12 years$3,817$3,377$2,982$2,628$2,312$1,231
13 years$3,488$3,052$2,664$2,320$2,016$1,008
14 years$3,205$2,774$2,393$2,059$1,767$828
15 years$2,961$2,534$2,161$1,836$1,556$682
16 years$2,747$2,325$1,959$1,644$1,375$564
17 years$2,558$2,141$1,783$1,477$1,219$467
18 years$2,391$1,979$1,627$1,331$1,084$387
19 years$2,242$1,834$1,490$1,203$966$321
20 years$2,107$1,704$1,367$1,090$863$267
21 years$1,986$1,587$1,258$989$772$222
22 years$1,875$1,482$1,159$899$692$185
23 years$1,775$1,386$1,070$819$622$154
24 years$1,683$1,298$990$747$559$129
25 years$1,598$1,218$917$682$503$107
26 years$1,521$1,145$850$624$453$90
27 years$1,449$1,078$790$571$408$75
28 years$1,382$1,016$734$523$368$62
29 years$1,320$958$683$480$333$52
30 years$1,262$905$636$440$301$44
31 years$1,208$855$593$404$272$36
32 years$1,158$809$553$372$246$30
33 years$1,110$766$517$342$222$25
34 years$1,066$726$483$314$201$21
35 years$1,024$689$451$289$182$18
36 years$985$654$422$267$165$15
37 years$948$621$395$246$150$12
38 years$912$590$370$226$136$10
39 years$879$561$347$209$123$9
40 years$848$534$325$192$112$7
41 years$818$508$305$178$101$6
42 years$789$484$286$164$92$5
43 years$762$461$268$151$83$4
44 years$737$440$252$140$76$4
45 years$712$419$236$129$69$3
46 years$689$400$222$119$62$2
47 years$667$382$209$110$57$2
48 years$645$364$196$102$51$2
49 years$625$348$184$94$47$1
50 years$605$332$173$87$42$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $620,000, adding $6,609 every year, while hoping to spend $41,673 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: 84/10/6 Blend
63$620,000$620,000$620,000$620,000
64$690,057$657,197$647,587$747,238
65$716,103$645,060$624,942$773,407
66$743,409$630,932$600,141$795,793
67$772,060$614,670$573,068$819,063
68$802,147$596,126$543,603$843,279
69$833,770$575,140$511,617$868,509
70$867,037$551,544$476,979$894,827
71$902,066$525,162$439,550$922,316
72$938,987$495,804$399,184$951,065
73$977,937$463,272$355,731$981,174
74$1,019,071$427,357$309,032$1,012,753
75$1,062,553$387,835$258,922$1,045,922
76$1,108,567$344,472$205,229$1,080,814
77$1,157,309$297,019$147,772$1,117,575
78$1,208,997$245,215$86,365$1,156,367
79$1,263,866$188,782$20,810$1,197,367
80$1,322,176$127,428$0$1,240,772
81$1,384,210$60,844$0$1,289,945
82$1,450,277$0$0$1,343,604
83$1,520,716$0$0$1,401,937
84$1,595,899$0$0$1,471,351
85$1,676,233$0$0$1,545,528
86$1,762,164$0$0$1,624,880
87$1,854,182$0$0$1,709,859
88$1,952,821$0$0$1,800,963
89$2,058,672$0$0$1,898,734
90$2,172,379$0$0$2,003,772
91$2,294,652$0$0$2,116,732
92$2,426,268$0$0$2,238,334
93$2,568,082$0$0$2,369,369
94$2,721,033$0$0$2,510,705
95$2,886,151$0$0$2,663,297
96$3,064,570$0$0$2,828,192
97$3,257,535$0$0$3,006,545
98$3,466,414$0$0$3,199,620
99$3,692,712$0$0$3,408,810
100$3,938,083$0$0$3,635,648