Can I retire at age 64 with 595,000?

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 $595,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$49,135$48,697$48,270$47,853$47,446$46,243
2 years$24,324$23,871$23,432$23,006$22,593$21,389
3 years$16,055$15,600$15,162$14,740$14,334$13,166
4 years$11,921$11,468$11,034$10,620$10,223$9,101
5 years$9,442$8,991$8,563$8,157$7,772$6,698
6 years$7,789$7,342$6,920$6,523$6,149$5,125
7 years$6,609$6,165$5,751$5,363$5,001$4,027
8 years$5,725$5,285$4,877$4,499$4,149$3,224
9 years$5,037$4,602$4,201$3,832$3,494$2,617
10 years$4,487$4,056$3,662$3,303$2,977$2,148
11 years$4,038$3,611$3,224$2,875$2,560$1,777
12 years$3,663$3,241$2,861$2,522$2,219$1,480
13 years$3,347$2,929$2,556$2,226$1,935$1,240
14 years$3,076$2,662$2,297$1,976$1,696$1,043
15 years$2,841$2,432$2,074$1,762$1,493$880
16 years$2,636$2,231$1,880$1,578$1,320$746
17 years$2,455$2,055$1,711$1,418$1,170$633
18 years$2,295$1,899$1,562$1,278$1,041$538
19 years$2,151$1,760$1,430$1,155$927$459
20 years$2,022$1,635$1,312$1,046$828$391
21 years$1,906$1,523$1,207$949$741$334
22 years$1,800$1,422$1,112$863$664$286
23 years$1,703$1,330$1,027$786$596$245
24 years$1,615$1,246$950$717$536$210
25 years$1,534$1,169$880$655$482$180
26 years$1,459$1,099$816$599$435$154
27 years$1,390$1,034$758$548$392$132
28 years$1,326$975$704$502$354$114
29 years$1,267$919$655$460$319$98
30 years$1,211$868$611$422$288$84
31 years$1,159$821$569$388$261$72
32 years$1,111$777$531$357$236$62
33 years$1,066$735$496$328$213$53
34 years$1,023$697$463$302$193$46
35 years$983$661$433$278$175$39
36 years$945$628$405$256$159$34
37 years$909$596$379$236$144$29
38 years$876$566$355$217$130$25
39 years$844$539$333$200$118$22
40 years$813$512$312$185$107$19
41 years$785$488$292$170$97$16
42 years$758$465$274$157$88$14
43 years$732$443$257$145$80$12
44 years$707$422$242$134$73$10
45 years$683$402$227$124$66$9
46 years$661$384$213$114$60$8
47 years$640$366$200$106$54$6
48 years$619$350$188$98$49$6
49 years$600$334$177$90$45$5
50 years$581$319$166$83$41$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $595,000, adding $6,271 every year, while hoping to spend $25,476 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: 71/7/22 Blend
63$595,000$595,000$595,000$595,000
64$662,159$630,624$621,401$705,142
65$702,592$634,418$615,112$738,421
66$746,297$637,544$607,758$771,245
67$793,578$639,943$599,277$806,560
68$844,774$641,551$589,603$844,611
69$900,254$642,300$578,669$885,667
70$960,427$642,120$566,401$930,025
71$1,025,741$640,934$552,725$978,014
72$1,096,687$638,661$537,563$1,029,995
73$1,173,810$635,216$520,832$1,086,369
74$1,257,705$630,508$502,446$1,147,575
75$1,349,028$624,440$482,315$1,214,099
76$1,448,502$616,911$460,346$1,286,479
77$1,556,922$607,811$436,440$1,365,304
78$1,675,161$597,027$410,494$1,451,229
79$1,804,183$584,437$382,401$1,544,973
80$1,945,047$569,912$352,048$1,647,329
81$2,098,919$553,315$319,320$1,759,175
82$2,267,084$534,503$284,092$1,881,477
83$2,450,956$513,322$246,238$2,015,299
84$2,652,089$489,612$205,623$2,161,819
85$2,872,200$463,200$162,109$2,322,333
86$3,113,174$433,906$115,549$2,498,270
87$3,377,089$401,539$65,792$2,691,209
88$3,666,235$365,897$12,678$2,902,890
89$3,983,131$326,766$0$3,135,230
90$4,330,553$283,921$0$3,400,675
91$4,711,558$237,121$0$3,695,078
92$5,129,513$186,117$0$4,018,073
93$5,588,127$130,640$0$4,372,544
94$6,091,485$70,410$0$4,761,665
95$6,644,087$5,130$0$5,188,935
96$7,250,888$0$0$5,658,210
97$7,917,351$0$0$6,178,782
98$8,649,489$0$0$6,751,121
99$9,453,929$0$0$7,380,013
100$10,337,971$0$0$8,071,172