Can I retire at age 64 with 587,000?

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 $587,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$48,474$48,042$47,621$47,210$46,808$46,339
2 years$23,997$23,550$23,117$22,697$22,290$21,817
3 years$15,839$15,390$14,958$14,542$14,141$13,680
4 years$11,761$11,313$10,886$10,477$10,086$9,639
5 years$9,315$8,870$8,448$8,047$7,667$7,236
6 years$7,684$7,243$6,827$6,435$6,067$5,653
7 years$6,520$6,083$5,673$5,291$4,934$4,537
8 years$5,648$5,214$4,811$4,438$4,093$3,713
9 years$4,969$4,540$4,144$3,781$3,447$3,083
10 years$4,427$4,001$3,613$3,259$2,937$2,590
11 years$3,983$3,562$3,181$2,836$2,526$2,195
12 years$3,614$3,197$2,823$2,488$2,189$1,874
13 years$3,302$2,889$2,522$2,196$1,909$1,609
14 years$3,035$2,626$2,266$1,950$1,673$1,389
15 years$2,803$2,399$2,046$1,739$1,473$1,204
16 years$2,601$2,201$1,855$1,557$1,302$1,047
17 years$2,422$2,027$1,688$1,399$1,154$913
18 years$2,264$1,873$1,541$1,261$1,027$798
19 years$2,122$1,736$1,411$1,139$915$699
20 years$1,995$1,613$1,295$1,032$817$614
21 years$1,880$1,503$1,191$936$731$540
22 years$1,776$1,403$1,097$851$656$475
23 years$1,680$1,312$1,013$775$588$419
24 years$1,593$1,229$937$707$529$370
25 years$1,513$1,154$868$646$476$327
26 years$1,440$1,084$805$590$429$289
27 years$1,371$1,020$748$540$387$256
28 years$1,308$961$695$495$349$226
29 years$1,250$907$647$454$315$200
30 years$1,195$857$602$417$285$178
31 years$1,144$810$562$383$257$158
32 years$1,096$766$524$352$233$140
33 years$1,051$726$489$323$211$124
34 years$1,009$688$457$298$191$110
35 years$970$652$427$274$173$98
36 years$932$619$400$252$156$87
37 years$897$588$374$232$142$77
38 years$864$559$350$214$129$68
39 years$832$531$328$198$117$61
40 years$803$506$308$182$106$54
41 years$774$481$289$168$96$48
42 years$747$458$271$155$87$43
43 years$722$437$254$143$79$38
44 years$697$416$238$132$72$34
45 years$674$397$224$122$65$30
46 years$652$379$210$113$59$27
47 years$631$361$198$104$54$24
48 years$611$345$186$96$49$21
49 years$592$329$174$89$44$19
50 years$573$315$164$82$40$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $587,000, adding $4,970 every year, while hoping to spend $40,066 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: 64/7/29 Blend
63$587,000$587,000$587,000$587,000
64$652,001$620,890$611,791$688,396
65$675,875$608,683$589,656$701,449
66$700,841$594,536$565,437$710,865
67$726,969$578,310$539,021$720,292
68$754,333$559,861$510,292$729,738
69$783,015$539,034$479,126$739,212
70$813,102$515,666$445,396$748,726
71$844,689$489,584$408,968$758,293
72$877,881$460,608$369,702$767,934
73$912,791$428,543$327,453$777,668
74$949,540$393,186$282,067$787,522
75$988,262$354,321$233,385$797,527
76$1,029,102$311,721$181,241$807,718
77$1,072,220$265,144$125,462$818,138
78$1,117,787$214,337$65,866$828,836
79$1,165,993$159,031$2,264$839,869
80$1,217,043$98,942$0$851,301
81$1,271,161$33,770$0$883,509
82$1,328,594$0$0$918,345
83$1,389,609$0$0$958,107
84$1,454,502$0$0$1,003,183
85$1,523,593$0$0$1,051,198
86$1,597,234$0$0$1,102,400
87$1,675,811$0$0$1,157,059
88$1,759,747$0$0$1,215,474
89$1,849,503$0$0$1,277,970
90$1,945,588$0$0$1,344,903
91$2,048,557$0$0$1,416,666
92$2,159,022$0$0$1,493,688
93$2,277,652$0$0$1,576,441
94$2,405,181$0$0$1,665,443
95$2,542,419$0$0$1,761,260
96$2,690,249$0$0$1,864,519
97$2,849,646$0$0$1,975,903
98$3,021,678$0$0$2,096,166
99$3,207,521$0$0$2,226,136
100$3,408,466$0$0$2,366,722