Can I retire at age 64 with 691,000?

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 $691,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$57,062$56,554$56,058$55,574$55,101$54,617
2 years$28,249$27,722$27,213$26,718$26,239$25,751
3 years$18,645$18,117$17,608$17,119$16,647$16,170
4 years$13,845$13,318$12,814$12,333$11,873$11,411
5 years$10,965$10,441$9,944$9,473$9,025$8,580
6 years$9,046$8,526$8,037$7,576$7,142$6,713
7 years$7,676$7,160$6,678$6,228$5,808$5,397
8 years$6,648$6,138$5,664$5,225$4,818$4,424
9 years$5,850$5,344$4,878$4,450$4,058$3,681
10 years$5,211$4,710$4,253$3,836$3,457$3,097
11 years$4,689$4,193$3,744$3,339$2,973$2,630
12 years$4,255$3,764$3,323$2,928$2,577$2,249
13 years$3,887$3,401$2,969$2,585$2,247$1,936
14 years$3,572$3,092$2,668$2,295$1,970$1,674
15 years$3,300$2,824$2,408$2,047$1,734$1,453
16 years$3,061$2,591$2,184$1,833$1,533$1,266
17 years$2,851$2,386$1,987$1,647$1,359$1,107
18 years$2,665$2,205$1,814$1,484$1,208$970
19 years$2,498$2,044$1,660$1,341$1,077$852
20 years$2,348$1,899$1,524$1,214$962$749
21 years$2,213$1,769$1,402$1,102$861$660
22 years$2,090$1,651$1,292$1,002$772$583
23 years$1,978$1,544$1,193$913$693$515
24 years$1,876$1,447$1,103$832$623$456
25 years$1,782$1,358$1,022$760$560$403
26 years$1,695$1,276$948$695$505$357
27 years$1,614$1,201$880$636$455$317
28 years$1,540$1,132$818$583$411$281
29 years$1,471$1,068$761$535$371$250
30 years$1,407$1,008$709$491$335$222
31 years$1,346$953$661$451$303$197
32 years$1,290$902$617$414$274$175
33 years$1,237$854$576$381$248$156
34 years$1,188$810$538$350$224$139
35 years$1,141$768$503$323$203$124
36 years$1,097$729$471$297$184$110
37 years$1,056$692$440$274$167$98
38 years$1,017$658$412$252$151$87
39 years$980$626$386$233$137$78
40 years$945$595$362$215$124$69
41 years$911$567$340$198$113$62
42 years$880$540$319$183$102$55
43 years$850$514$299$169$93$49
44 years$821$490$281$156$84$44
45 years$794$467$264$144$77$39
46 years$768$446$247$133$70$35
47 years$743$425$233$123$63$31
48 years$719$406$218$113$57$28
49 years$696$388$205$105$52$25
50 years$675$370$193$97$47$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $691,000, adding $2,449 every year, while hoping to spend $56,547 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: 57/21/22 Blend
63$691,000$691,000$691,000$691,000
64$764,008$727,385$716,675$802,899
65$781,771$702,861$680,518$805,185
66$799,451$675,241$641,254$801,422
67$816,980$644,312$598,721$796,097
68$834,279$609,851$552,745$789,071
69$851,264$571,622$503,150$780,199
70$867,835$529,373$449,748$769,322
71$883,883$482,842$392,344$756,268
72$899,285$431,747$330,734$740,852
73$913,904$375,794$264,705$722,874
74$927,585$314,671$194,035$702,119
75$940,156$248,047$118,492$678,352
76$951,425$175,574$37,835$651,322
77$961,177$96,885$0$620,756
78$969,175$11,589$0$597,683
79$975,151$0$0$580,672
80$978,812$0$0$579,205
81$979,829$0$0$578,721
82$977,836$0$0$576,312
83$972,429$0$0$571,722
84$963,158$0$0$564,667
85$949,525$0$0$554,833
86$930,978$0$0$541,872
87$906,903$0$0$525,398
88$876,624$0$0$504,984
89$839,388$0$0$480,157
90$794,365$0$0$450,392
91$740,634$0$0$415,112
92$677,178$0$0$373,674
93$602,871$0$0$325,370
94$516,468$0$0$269,418
95$416,594$0$0$204,950
96$301,726$0$0$131,010
97$170,185$0$0$46,541
98$20,114$0$0$0
99$0$0$0$0
100$0$0$0$0