Can I retire at age 64 with 694,000?

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 $694,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$57,310$56,799$56,301$55,815$55,341$54,740
2 years$28,371$27,843$27,331$26,834$26,353$25,748
3 years$18,726$18,196$17,685$17,193$16,719$16,129
4 years$13,905$13,376$12,870$12,387$11,924$11,353
5 years$11,013$10,487$9,988$9,514$9,065$8,514
6 years$9,085$8,563$8,072$7,608$7,173$6,644
7 years$7,709$7,191$6,707$6,255$5,833$5,326
8 years$6,677$6,164$5,688$5,247$4,839$4,354
9 years$5,875$5,367$4,899$4,470$4,075$3,612
10 years$5,234$4,731$4,271$3,853$3,472$3,030
11 years$4,710$4,212$3,761$3,353$2,986$2,565
12 years$4,273$3,780$3,337$2,941$2,588$2,187
13 years$3,904$3,416$2,982$2,597$2,257$1,876
14 years$3,588$3,105$2,679$2,305$1,978$1,617
15 years$3,314$2,837$2,419$2,056$1,742$1,399
16 years$3,075$2,603$2,193$1,841$1,539$1,215
17 years$2,864$2,397$1,996$1,654$1,365$1,058
18 years$2,676$2,215$1,822$1,490$1,214$924
19 years$2,509$2,053$1,668$1,347$1,082$808
20 years$2,359$1,907$1,531$1,220$966$709
21 years$2,223$1,777$1,408$1,107$865$622
22 years$2,099$1,658$1,297$1,006$775$547
23 years$1,987$1,551$1,198$917$696$482
24 years$1,884$1,453$1,108$836$625$424
25 years$1,789$1,364$1,026$763$563$374
26 years$1,702$1,282$952$698$507$330
27 years$1,621$1,206$884$639$457$292
28 years$1,547$1,137$822$585$412$258
29 years$1,477$1,072$765$537$372$228
30 years$1,413$1,013$712$493$336$202
31 years$1,352$957$664$453$304$179
32 years$1,296$906$619$416$275$158
33 years$1,243$858$578$382$249$140
34 years$1,193$813$540$352$225$124
35 years$1,146$771$505$324$204$110
36 years$1,102$732$473$298$185$98
37 years$1,061$695$442$275$168$87
38 years$1,021$661$414$253$152$77
39 years$984$628$388$234$138$68
40 years$949$598$364$215$125$60
41 years$915$569$341$199$113$54
42 years$884$542$320$183$103$48
43 years$853$516$300$169$93$42
44 years$825$492$282$156$85$37
45 years$797$469$265$144$77$33
46 years$771$448$249$133$70$29
47 years$746$427$234$123$63$26
48 years$722$408$219$114$58$23
49 years$699$389$206$105$52$21
50 years$678$372$194$97$48$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $694,000, adding $4,795 every year, while hoping to spend $27,787 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: 64/17/19 Blend
63$694,000$694,000$694,000$694,000
64$769,734$732,952$722,195$815,004
65$818,682$739,302$716,823$852,363
66$871,691$745,031$710,341$889,572
67$929,146$750,080$702,680$929,568
68$991,471$754,386$693,772$972,622
69$1,059,131$757,881$683,543$1,019,038
70$1,132,638$760,493$671,917$1,069,148
71$1,212,555$762,145$658,814$1,123,320
72$1,299,502$762,756$644,151$1,181,962
73$1,394,161$762,241$627,839$1,245,520
74$1,497,281$760,506$609,788$1,314,490
75$1,609,688$757,455$589,900$1,389,417
76$1,732,290$752,985$568,076$1,470,906
77$1,866,088$746,986$544,211$1,559,619
78$2,012,183$739,342$518,196$1,656,293
79$2,171,785$729,929$489,915$1,761,737
80$2,346,229$718,618$459,249$1,876,845
81$2,536,983$705,269$426,073$2,002,604
82$2,745,665$689,736$390,255$2,140,102
83$2,974,054$671,865$351,660$2,290,541
84$3,224,112$651,490$310,145$2,455,246
85$3,497,996$628,438$265,560$2,635,679
86$3,798,085$602,525$217,749$2,833,455
87$4,126,997$573,556$166,551$3,050,353
88$4,487,615$541,325$111,795$3,288,338
89$4,883,116$505,613$53,304$3,549,575
90$5,316,997$466,192$0$3,836,454
91$5,793,113$422,817$0$4,153,460
92$6,315,705$375,230$0$4,513,306
93$6,889,451$323,160$0$4,908,421
94$7,519,500$266,320$0$5,342,387
95$8,211,524$204,405$0$5,819,150
96$8,971,773$137,095$0$6,343,060
97$9,807,132$64,050$0$6,918,913
98$10,725,186$0$0$7,551,993
99$11,734,288$0$0$8,250,947
100$12,843,646$0$0$9,032,567