Can I retire at age 64 with 692,000?

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 $692,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$57,145$56,636$56,139$55,654$55,181$53,869
2 years$28,289$27,763$27,252$26,757$26,277$24,962
3 years$18,672$18,143$17,634$17,143$16,671$15,396
4 years$13,865$13,337$12,833$12,351$11,890$10,663
5 years$10,981$10,456$9,959$9,487$9,039$7,864
6 years$9,059$8,539$8,048$7,587$7,152$6,031
7 years$7,687$7,171$6,688$6,237$5,816$4,749
8 years$6,658$6,147$5,672$5,232$4,825$3,811
9 years$5,858$5,352$4,885$4,457$4,064$3,101
10 years$5,219$4,717$4,259$3,842$3,462$2,551
11 years$4,696$4,199$3,750$3,344$2,978$2,117
12 years$4,261$3,769$3,328$2,933$2,580$1,768
13 years$3,893$3,406$2,973$2,589$2,250$1,485
14 years$3,577$3,096$2,671$2,298$1,973$1,252
15 years$3,304$2,828$2,412$2,050$1,737$1,060
16 years$3,066$2,595$2,187$1,835$1,535$900
17 years$2,856$2,390$1,990$1,649$1,361$766
18 years$2,669$2,208$1,816$1,486$1,210$654
19 years$2,502$2,047$1,663$1,343$1,079$559
20 years$2,352$1,902$1,526$1,216$963$478
21 years$2,216$1,772$1,404$1,104$862$410
22 years$2,093$1,654$1,294$1,004$773$352
23 years$1,981$1,547$1,195$914$694$302
24 years$1,878$1,449$1,105$834$624$259
25 years$1,784$1,360$1,023$761$561$223
26 years$1,697$1,278$949$696$505$192
27 years$1,617$1,203$881$637$456$165
28 years$1,542$1,133$819$584$411$142
29 years$1,473$1,069$762$535$371$123
30 years$1,409$1,010$710$491$335$106
31 years$1,348$955$662$451$303$91
32 years$1,292$903$618$415$274$79
33 years$1,239$855$577$381$248$68
34 years$1,190$811$539$351$225$58
35 years$1,143$769$504$323$204$50
36 years$1,099$730$471$297$184$44
37 years$1,058$693$441$274$167$38
38 years$1,018$659$413$253$152$32
39 years$981$626$387$233$137$28
40 years$946$596$363$215$125$24
41 years$913$567$340$198$113$21
42 years$881$540$319$183$103$18
43 years$851$515$299$169$93$16
44 years$822$491$281$156$85$13
45 years$795$468$264$144$77$12
46 years$769$446$248$133$70$10
47 years$744$426$233$123$63$9
48 years$720$407$219$114$57$7
49 years$697$388$206$105$52$6
50 years$676$371$193$97$47$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $692,000, adding $3,988 every year, while hoping to spend $38,508 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: 58/24/18 Blend
63$692,000$692,000$692,000$692,000
64$766,698$730,022$719,296$807,327
65$803,929$724,820$702,420$830,144
66$843,666$718,074$683,688$850,459
67$886,126$709,665$662,997$871,734
68$931,544$699,472$640,241$894,069
69$980,178$687,362$615,305$917,575
70$1,032,311$673,198$588,073$942,377
71$1,088,254$656,832$558,421$968,614
72$1,148,350$638,111$526,222$996,440
73$1,212,971$616,868$491,340$1,026,030
74$1,282,530$592,930$453,635$1,057,576
75$1,357,478$566,113$412,962$1,091,293
76$1,438,310$536,223$369,166$1,127,420
77$1,525,572$503,052$322,087$1,166,225
78$1,619,862$466,383$271,559$1,208,004
79$1,721,839$425,986$217,406$1,253,088
80$1,832,224$381,617$159,447$1,301,843
81$1,951,814$333,019$97,492$1,354,677
82$2,081,482$279,920$31,341$1,412,044
83$2,222,189$222,033$0$1,474,448
84$2,374,993$159,053$0$1,549,987
85$2,541,057$90,661$0$1,638,656
86$2,721,659$16,518$0$1,735,162
87$2,918,207$0$0$1,840,313
88$3,132,249$0$0$1,971,837
89$3,365,490$0$0$2,119,965
90$3,619,805$0$0$2,281,532
91$3,897,258$0$0$2,457,858
92$4,200,120$0$0$2,650,392
93$4,530,892$0$0$2,860,732
94$4,892,327$0$0$3,090,637
95$5,287,456$0$0$3,342,043
96$5,719,616$0$0$3,617,082
97$6,192,480$0$0$3,918,100
98$6,710,095$0$0$4,247,682
99$7,276,915$0$0$4,608,675
100$7,897,846$0$0$5,004,212