Can I retire at age 64 with 693,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $693,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$57,227$56,718$56,220$55,735$55,261$54,123
2 years$28,330$27,803$27,291$26,796$26,315$25,173
3 years$18,699$18,169$17,659$17,168$16,695$15,586
4 years$13,885$13,356$12,851$12,369$11,907$10,839
5 years$10,997$10,472$9,973$9,500$9,052$8,027
6 years$9,072$8,551$8,060$7,598$7,162$6,183
7 years$7,698$7,181$6,698$6,246$5,825$4,891
8 years$6,668$6,155$5,680$5,240$4,832$3,943
9 years$5,867$5,359$4,892$4,463$4,069$3,224
10 years$5,226$4,724$4,265$3,847$3,467$2,666
11 years$4,703$4,206$3,755$3,348$2,982$2,223
12 years$4,267$3,775$3,333$2,937$2,584$1,866
13 years$3,898$3,411$2,977$2,593$2,253$1,576
14 years$3,583$3,101$2,675$2,302$1,975$1,336
15 years$3,309$2,833$2,415$2,053$1,739$1,138
16 years$3,070$2,599$2,190$1,838$1,537$971
17 years$2,860$2,393$1,993$1,651$1,363$832
18 years$2,673$2,212$1,819$1,488$1,212$714
19 years$2,506$2,050$1,665$1,345$1,080$614
20 years$2,355$1,905$1,528$1,218$965$528
21 years$2,220$1,774$1,406$1,105$863$456
22 years$2,096$1,656$1,296$1,005$774$393
23 years$1,984$1,549$1,196$915$695$340
24 years$1,881$1,451$1,106$835$624$294
25 years$1,787$1,362$1,025$762$562$254
26 years$1,700$1,280$950$697$506$220
27 years$1,619$1,205$882$638$456$191
28 years$1,545$1,135$820$585$412$165
29 years$1,475$1,071$763$536$372$143
30 years$1,411$1,011$711$492$336$124
31 years$1,350$956$663$452$304$108
32 years$1,294$905$619$415$275$94
33 years$1,241$857$578$382$249$81
34 years$1,191$812$540$351$225$71
35 years$1,145$770$505$323$204$61
36 years$1,101$731$472$298$185$53
37 years$1,059$694$442$274$167$46
38 years$1,020$660$414$253$152$40
39 years$983$627$388$233$138$35
40 years$947$597$363$215$125$30
41 years$914$568$341$198$113$26
42 years$882$541$320$183$103$23
43 years$852$516$300$169$93$20
44 years$823$491$281$156$85$17
45 years$796$469$264$144$77$15
46 years$770$447$248$133$70$13
47 years$745$427$233$123$63$11
48 years$721$407$219$114$58$10
49 years$698$389$206$105$52$9
50 years$677$372$194$97$47$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $693,000, adding $2,159 every year, while hoping to spend $44,811 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: 84/8/8 Blend
63$693,000$693,000$693,000$693,000
64$765,913$729,184$718,443$829,379
65$796,358$717,235$694,832$859,211
66$828,406$703,200$668,928$885,696
67$862,173$686,927$640,608$913,390
68$897,787$668,259$609,740$942,386
69$935,386$647,027$576,191$972,787
70$975,119$623,055$539,817$1,004,705
71$1,017,151$596,155$500,471$1,038,265
72$1,061,662$566,128$457,998$1,073,602
73$1,108,846$532,763$412,236$1,110,869
74$1,158,919$495,839$363,016$1,150,229
75$1,212,113$455,119$310,161$1,191,866
76$1,268,685$410,357$253,489$1,235,981
77$1,328,915$361,289$192,805$1,282,794
78$1,393,110$307,637$127,909$1,332,551
79$1,461,605$249,109$58,591$1,385,520
80$1,534,768$185,394$0$1,441,997
81$1,613,001$116,166$0$1,503,624
82$1,696,748$41,079$0$1,574,869
83$1,786,493$0$0$1,651,144
84$1,882,766$0$0$1,736,452
85$1,986,153$0$0$1,831,953
86$2,097,292$0$0$1,934,625
87$2,216,886$0$0$2,045,117
88$2,345,708$0$0$2,164,144
89$2,484,605$0$0$2,292,490
90$2,634,507$0$0$2,431,017
91$2,796,439$0$0$2,580,671
92$2,971,524$0$0$2,742,494
93$3,160,997$0$0$2,917,628
94$3,366,218$0$0$3,107,330
95$3,588,680$0$0$3,312,984
96$3,830,024$0$0$3,536,109
97$4,092,058$0$0$3,778,376
98$4,376,767$0$0$4,041,625
99$4,686,337$0$0$4,327,877
100$5,023,172$0$0$4,639,358