Can I retire at age 64 with 693,000?

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 $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%17%
1 years$57,227$56,718$56,220$55,735$55,261$53,686
2 years$28,330$27,803$27,291$26,796$26,315$24,740
3 years$18,699$18,169$17,659$17,168$16,695$15,170
4 years$13,885$13,356$12,851$12,369$11,907$10,444
5 years$10,997$10,472$9,973$9,500$9,052$7,654
6 years$9,072$8,551$8,060$7,598$7,162$5,831
7 years$7,698$7,181$6,698$6,246$5,825$4,560
8 years$6,668$6,155$5,680$5,240$4,832$3,634
9 years$5,867$5,359$4,892$4,463$4,069$2,936
10 years$5,226$4,724$4,265$3,847$3,467$2,397
11 years$4,703$4,206$3,755$3,348$2,982$1,974
12 years$4,267$3,775$3,333$2,937$2,584$1,636
13 years$3,898$3,411$2,977$2,593$2,253$1,362
14 years$3,583$3,101$2,675$2,302$1,975$1,140
15 years$3,309$2,833$2,415$2,053$1,739$957
16 years$3,070$2,599$2,190$1,838$1,537$805
17 years$2,860$2,393$1,993$1,651$1,363$680
18 years$2,673$2,212$1,819$1,488$1,212$575
19 years$2,506$2,050$1,665$1,345$1,080$487
20 years$2,355$1,905$1,528$1,218$965$413
21 years$2,220$1,774$1,406$1,105$863$351
22 years$2,096$1,656$1,296$1,005$774$298
23 years$1,984$1,549$1,196$915$695$253
24 years$1,881$1,451$1,106$835$624$216
25 years$1,787$1,362$1,025$762$562$184
26 years$1,700$1,280$950$697$506$157
27 years$1,619$1,205$882$638$456$134
28 years$1,545$1,135$820$585$412$114
29 years$1,475$1,071$763$536$372$97
30 years$1,411$1,011$711$492$336$83
31 years$1,350$956$663$452$304$71
32 years$1,294$905$619$415$275$60
33 years$1,241$857$578$382$249$52
34 years$1,191$812$540$351$225$44
35 years$1,145$770$505$323$204$38
36 years$1,101$731$472$298$185$32
37 years$1,059$694$442$274$167$27
38 years$1,020$660$414$253$152$23
39 years$983$627$388$233$138$20
40 years$947$597$363$215$125$17
41 years$914$568$341$198$113$15
42 years$882$541$320$183$103$13
43 years$852$516$300$169$93$11
44 years$823$491$281$156$85$9
45 years$796$469$264$144$77$8
46 years$770$447$248$133$70$7
47 years$745$427$233$123$63$6
48 years$721$407$219$114$58$5
49 years$698$389$206$105$52$4
50 years$677$372$194$97$47$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $693,000, adding $4,291 every year, while hoping to spend $50,517 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: 44/48/8 Blend
63$693,000$693,000$693,000$693,000
64$768,112$731,383$720,642$799,976
65$792,710$713,471$691,033$804,571
66$818,124$692,989$658,740$804,031
67$844,383$669,756$623,619$802,286
68$871,519$643,583$585,519$799,243
69$899,565$614,270$544,285$794,805
70$928,555$581,603$499,753$788,868
71$958,525$545,359$451,752$781,322
72$989,512$505,299$400,104$772,051
73$1,021,557$461,173$344,621$760,932
74$1,054,700$412,715$285,110$747,837
75$1,088,985$359,644$221,368$732,628
76$1,124,459$301,664$153,181$715,160
77$1,161,170$238,461$80,328$695,282
78$1,199,168$169,705$2,578$672,833
79$1,238,509$95,046$0$647,643
80$1,279,248$14,115$0$626,396
81$1,321,447$0$0$602,722
82$1,365,170$0$0$615,034
83$1,410,483$0$0$635,528
84$1,457,460$0$0$656,782
85$1,506,175$0$0$678,831
86$1,556,712$0$0$701,713
87$1,609,156$0$0$725,470
88$1,663,600$0$0$750,143
89$1,720,141$0$0$775,779
90$1,778,886$0$0$802,427
91$1,839,947$0$0$830,140
92$1,903,443$0$0$858,975
93$1,969,504$0$0$888,992
94$2,038,269$0$0$920,256
95$2,109,886$0$0$952,838
96$2,184,515$0$0$986,812
97$2,262,328$0$0$1,022,261
98$2,343,509$0$0$1,059,271
99$2,428,260$0$0$1,097,938
100$2,516,795$0$0$1,138,364