Can I retire at age 64 with 689,000?

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 $689,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$56,897$56,390$55,896$55,413$54,942$52,866
2 years$28,167$27,642$27,134$26,641$26,163$24,096
3 years$18,591$18,065$17,557$17,069$16,599$14,605
4 years$13,805$13,279$12,777$12,297$11,838$9,934
5 years$10,933$10,411$9,916$9,446$8,999$7,189
6 years$9,020$8,501$8,013$7,554$7,121$5,405
7 years$7,653$7,140$6,659$6,210$5,791$4,170
8 years$6,629$6,120$5,647$5,210$4,804$3,276
9 years$5,833$5,328$4,864$4,437$4,046$2,608
10 years$5,196$4,697$4,241$3,825$3,447$2,098
11 years$4,676$4,181$3,733$3,329$2,965$1,700
12 years$4,242$3,753$3,313$2,920$2,569$1,387
13 years$3,876$3,392$2,960$2,578$2,240$1,136
14 years$3,562$3,083$2,660$2,288$1,964$935
15 years$3,290$2,816$2,401$2,041$1,729$772
16 years$3,053$2,584$2,177$1,827$1,528$638
17 years$2,843$2,380$1,981$1,642$1,355$529
18 years$2,657$2,199$1,809$1,480$1,205$440
19 years$2,491$2,038$1,656$1,337$1,074$366
20 years$2,342$1,894$1,519$1,211$959$305
21 years$2,207$1,764$1,398$1,099$858$254
22 years$2,084$1,647$1,288$999$769$212
23 years$1,973$1,540$1,189$910$691$177
24 years$1,870$1,443$1,100$830$621$148
25 years$1,776$1,354$1,019$758$559$123
26 years$1,690$1,273$945$693$503$103
27 years$1,610$1,198$877$634$454$86
28 years$1,536$1,129$816$581$409$72
29 years$1,467$1,065$759$533$370$60
30 years$1,403$1,005$707$489$334$50
31 years$1,343$950$659$449$302$42
32 years$1,286$899$615$413$273$35
33 years$1,234$852$574$380$247$30
34 years$1,185$807$537$349$224$25
35 years$1,138$766$502$322$203$21
36 years$1,094$727$469$296$184$17
37 years$1,053$690$439$273$166$15
38 years$1,014$656$411$252$151$12
39 years$977$624$385$232$137$10
40 years$942$593$361$214$124$9
41 years$909$565$339$197$113$7
42 years$877$538$318$182$102$6
43 years$847$513$298$168$93$5
44 years$819$489$280$155$84$4
45 years$791$466$263$143$76$4
46 years$765$444$247$132$69$3
47 years$741$424$232$122$63$2
48 years$717$405$218$113$57$2
49 years$694$387$205$104$52$2
50 years$673$369$193$97$47$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $689,000, adding $3,227 every year, while hoping to spend $46,991 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: 58/20/22 Blend
63$689,000$689,000$689,000$689,000
64$762,607$726,090$715,410$802,170
65$790,394$711,670$689,378$815,057
66$819,442$694,969$660,900$823,764
67$849,827$675,825$629,842$832,231
68$881,636$654,067$596,069$840,446
69$914,961$629,514$559,435$848,398
70$949,903$601,976$519,791$856,076
71$986,569$571,249$476,981$863,471
72$1,025,078$537,119$430,838$870,578
73$1,065,558$499,360$381,194$877,391
74$1,108,149$457,733$327,868$883,909
75$1,153,002$411,983$270,673$890,134
76$1,200,283$361,845$209,415$896,070
77$1,250,170$307,034$143,889$901,728
78$1,302,862$247,253$73,883$907,121
79$1,358,570$182,185$0$912,270
80$1,417,530$111,498$0$917,396
81$1,479,996$34,839$0$940,860
82$1,546,247$0$0$965,400
83$1,616,586$0$0$1,001,728
84$1,691,348$0$0$1,048,520
85$1,770,897$0$0$1,098,339
86$1,855,631$0$0$1,151,441
87$1,945,987$0$0$1,208,103
88$2,042,443$0$0$1,268,630
89$2,145,524$0$0$1,333,356
90$2,255,804$0$0$1,402,646
91$2,373,913$0$0$1,476,902
92$2,500,542$0$0$1,556,565
93$2,636,447$0$0$1,642,118
94$2,782,463$0$0$1,734,091
95$2,939,500$0$0$1,833,066
96$3,108,561$0$0$1,939,682
97$3,290,748$0$0$2,054,642
98$3,487,269$0$0$2,178,717
99$3,699,452$0$0$2,312,755
100$3,928,757$0$0$2,457,686