Can I retire at age 64 with 624,000?

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 $624,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$51,529$51,070$50,623$50,185$49,759$48,734
2 years$25,510$25,034$24,574$24,128$23,695$22,667
3 years$16,837$16,360$15,901$15,459$15,033$14,034
4 years$12,502$12,027$11,572$11,137$10,722$9,760
5 years$9,902$9,429$8,980$8,554$8,150$7,228
6 years$8,169$7,699$7,257$6,841$6,449$5,567
7 years$6,931$6,466$6,031$5,624$5,245$4,404
8 years$6,004$5,543$5,115$4,718$4,351$3,550
9 years$5,283$4,826$4,405$4,019$3,664$2,903
10 years$4,706$4,254$3,841$3,464$3,122$2,400
11 years$4,235$3,787$3,381$3,015$2,685$2,001
12 years$3,842$3,399$3,001$2,645$2,327$1,680
13 years$3,510$3,072$2,681$2,335$2,029$1,419
14 years$3,226$2,792$2,409$2,073$1,779$1,203
15 years$2,980$2,551$2,175$1,848$1,566$1,024
16 years$2,765$2,340$1,972$1,655$1,384$875
17 years$2,575$2,155$1,794$1,487$1,227$749
18 years$2,407$1,991$1,638$1,340$1,091$643
19 years$2,256$1,846$1,499$1,211$973$552
20 years$2,121$1,715$1,376$1,097$869$476
21 years$1,999$1,597$1,266$995$777$410
22 years$1,888$1,491$1,167$905$697$354
23 years$1,786$1,395$1,077$824$626$306
24 years$1,694$1,307$996$752$562$265
25 years$1,609$1,226$923$686$506$229
26 years$1,530$1,153$856$628$456$198
27 years$1,458$1,085$795$575$411$172
28 years$1,391$1,022$739$526$371$149
29 years$1,328$964$687$483$335$129
30 years$1,270$911$640$443$302$112
31 years$1,216$861$597$407$273$97
32 years$1,165$814$557$374$247$84
33 years$1,117$771$520$344$224$73
34 years$1,073$731$486$316$203$64
35 years$1,031$693$454$291$184$55
36 years$991$658$425$268$166$48
37 years$954$625$398$247$151$42
38 years$918$594$372$228$137$36
39 years$885$565$349$210$124$32
40 years$853$537$327$194$112$27
41 years$823$512$307$179$102$24
42 years$794$487$288$165$93$21
43 years$767$464$270$152$84$18
44 years$741$443$253$141$76$16
45 years$717$422$238$130$69$14
46 years$693$403$223$120$63$12
47 years$671$384$210$111$57$10
48 years$649$367$197$102$52$9
49 years$629$350$185$95$47$8
50 years$609$335$174$87$43$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $624,000, adding $5,004 every year, while hoping to spend $41,049 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: 81/7/12 Blend
63$624,000$624,000$624,000$624,000
64$692,810$659,738$650,066$747,016
65$719,800$648,389$628,167$771,959
66$748,168$635,108$604,159$793,452
67$778,011$619,758$577,928$815,837
68$809,433$602,192$549,354$839,184
69$842,551$582,254$518,312$863,568
70$877,489$559,783$484,674$889,072
71$914,385$534,604$448,302$915,791
72$953,386$506,534$409,054$943,825
73$994,656$475,379$366,783$973,287
74$1,038,373$440,934$321,331$1,004,302
75$1,084,730$402,983$272,539$1,037,007
76$1,133,939$361,296$220,236$1,071,554
77$1,186,233$315,631$164,246$1,108,109
78$1,241,864$265,732$104,383$1,146,859
79$1,301,111$211,330$40,457$1,188,006
80$1,364,277$152,138$0$1,231,777
81$1,431,696$87,855$0$1,281,976
82$1,503,731$18,162$0$1,341,082
83$1,580,783$0$0$1,404,241
84$1,663,290$0$0$1,476,232
85$1,751,733$0$0$1,554,911
86$1,846,638$0$0$1,639,351
87$1,948,585$0$0$1,730,067
88$2,058,209$0$0$1,827,627
89$2,176,207$0$0$1,932,653
90$2,303,344$0$0$2,045,827
91$2,440,462$0$0$2,167,901
92$2,588,485$0$0$2,299,698
93$2,748,427$0$0$2,442,125
94$2,921,405$0$0$2,596,176
95$3,108,645$0$0$2,762,947
96$3,311,495$0$0$2,943,640
97$3,531,437$0$0$3,139,579
98$3,770,102$0$0$3,352,217
99$4,029,282$0$0$3,583,156
100$4,310,949$0$0$3,834,153