Can I retire at age 64 with 505,000?

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 $505,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$41,702$41,331$40,969$40,615$40,269$39,899
2 years$20,645$20,260$19,888$19,526$19,176$18,802
3 years$13,626$13,240$12,869$12,511$12,166$11,801
4 years$10,118$9,733$9,365$9,013$8,677$8,324
5 years$8,013$7,631$7,268$6,923$6,596$6,256
6 years$6,611$6,231$5,873$5,536$5,219$4,892
7 years$5,609$5,233$4,881$4,552$4,245$3,930
8 years$4,859$4,486$4,139$3,818$3,521$3,220
9 years$4,275$3,905$3,565$3,252$2,965$2,678
10 years$3,809$3,442$3,108$2,804$2,527$2,252
11 years$3,427$3,065$2,736$2,440$2,173$1,911
12 years$3,109$2,751$2,428$2,140$1,883$1,633
13 years$2,841$2,486$2,170$1,889$1,642$1,404
14 years$2,611$2,260$1,949$1,677$1,439$1,214
15 years$2,411$2,064$1,760$1,496$1,267$1,053
16 years$2,237$1,894$1,596$1,339$1,120$917
17 years$2,084$1,744$1,452$1,203$993$801
18 years$1,948$1,612$1,326$1,085$883$701
19 years$1,826$1,494$1,214$980$787$615
20 years$1,716$1,388$1,114$888$703$541
21 years$1,617$1,293$1,024$805$629$476
22 years$1,528$1,207$944$732$564$420
23 years$1,446$1,129$872$667$506$371
24 years$1,371$1,058$806$608$455$328
25 years$1,302$992$747$556$409$290
26 years$1,239$933$693$508$369$257
27 years$1,180$878$643$465$333$228
28 years$1,126$827$598$426$300$202
29 years$1,075$780$556$391$271$179
30 years$1,028$737$518$359$245$159
31 years$984$697$483$329$221$141
32 years$943$659$451$303$200$125
33 years$904$624$421$278$181$112
34 years$868$592$393$256$164$99
35 years$834$561$368$236$149$88
36 years$802$533$344$217$135$78
37 years$772$506$322$200$122$70
38 years$743$481$301$184$111$62
39 years$716$457$282$170$100$55
40 years$690$435$265$157$91$49
41 years$666$414$248$145$83$44
42 years$643$394$233$133$75$39
43 years$621$376$218$123$68$35
44 years$600$358$205$114$62$31
45 years$580$341$193$105$56$28
46 years$561$326$181$97$51$25
47 years$543$311$170$90$46$22
48 years$526$297$160$83$42$19
49 years$509$283$150$77$38$17
50 years$493$271$141$71$35$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $505,000, adding $6,337 every year, while hoping to spend $49,233 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: 58/15/27 Blend
63$505,000$505,000$505,000$505,000
64$563,047$536,282$528,454$591,229
65$568,094$510,176$493,774$585,122
66$572,006$481,141$456,282$572,716
67$574,615$448,981$415,831$558,165
68$575,734$413,490$372,270$541,273
69$575,157$374,449$325,439$521,829
70$572,652$331,626$275,171$499,605
71$567,966$284,779$221,292$474,349
72$560,813$233,648$163,621$445,789
73$550,881$177,962$101,967$413,629
74$537,822$117,432$36,133$377,547
75$521,248$51,755$0$337,190
76$500,734$0$0$302,005
77$475,807$0$0$276,692
78$445,943$0$0$256,741
79$410,564$0$0$233,237
80$369,029$0$0$205,770
81$320,629$0$0$173,887
82$264,583$0$0$137,086
83$200,024$0$0$94,814
84$125,996$0$0$46,458
85$41,443$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0