Can I retire at age 64 with 696,000?

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 $696,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$57,475$56,963$56,464$55,976$55,500$54,875
2 years$28,453$27,923$27,410$26,912$26,429$25,799
3 years$18,780$18,248$17,736$17,243$16,767$16,153
4 years$13,945$13,414$12,907$12,422$11,959$11,365
5 years$11,044$10,517$10,016$9,541$9,091$8,519
6 years$9,111$8,588$8,095$7,630$7,193$6,644
7 years$7,731$7,212$6,727$6,273$5,850$5,323
8 years$6,696$6,182$5,705$5,263$4,853$4,349
9 years$5,892$5,383$4,914$4,483$4,087$3,605
10 years$5,249$4,745$4,284$3,864$3,482$3,023
11 years$4,723$4,224$3,771$3,363$2,995$2,557
12 years$4,285$3,791$3,347$2,950$2,595$2,179
13 years$3,915$3,426$2,990$2,604$2,263$1,868
14 years$3,598$3,114$2,687$2,312$1,984$1,609
15 years$3,324$2,845$2,426$2,062$1,747$1,391
16 years$3,084$2,610$2,199$1,846$1,544$1,207
17 years$2,872$2,404$2,001$1,659$1,369$1,051
18 years$2,684$2,221$1,827$1,495$1,217$917
19 years$2,516$2,059$1,673$1,351$1,085$801
20 years$2,365$1,913$1,535$1,223$969$702
21 years$2,229$1,782$1,412$1,110$867$616
22 years$2,105$1,663$1,301$1,009$777$541
23 years$1,993$1,556$1,201$919$698$476
24 years$1,889$1,458$1,111$838$627$419
25 years$1,794$1,368$1,029$766$564$369
26 years$1,707$1,286$954$700$508$326
27 years$1,626$1,210$886$641$458$288
28 years$1,551$1,140$824$587$414$254
29 years$1,482$1,075$767$538$373$224
30 years$1,417$1,016$714$494$337$198
31 years$1,356$960$666$454$305$176
32 years$1,300$908$621$417$276$155
33 years$1,246$860$580$384$250$137
34 years$1,197$815$542$353$226$122
35 years$1,150$773$507$325$205$108
36 years$1,105$734$474$299$186$95
37 years$1,064$697$444$276$168$85
38 years$1,024$663$415$254$152$75
39 years$987$630$389$234$138$66
40 years$952$599$365$216$125$59
41 years$918$571$342$199$114$52
42 years$886$543$321$184$103$46
43 years$856$518$301$170$94$41
44 years$827$494$283$157$85$36
45 years$799$471$265$145$77$32
46 years$773$449$249$134$70$29
47 years$748$428$234$124$64$25
48 years$724$409$220$114$58$23
49 years$701$391$207$106$52$20
50 years$680$373$194$98$48$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $696,000, adding $6,338 every year, while hoping to spend $38,632 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: 74/17/9 Blend
63$696,000$696,000$696,000$696,000
64$773,530$736,642$725,854$829,111
65$811,326$731,633$709,066$861,614
66$851,682$725,084$690,420$891,734
67$894,819$716,879$669,815$923,648
68$940,978$706,894$647,142$957,520
69$990,425$694,998$622,288$993,533
70$1,043,449$681,054$595,135$1,031,888
71$1,100,370$664,915$565,561$1,072,809
72$1,161,537$646,425$533,437$1,116,539
73$1,227,335$625,421$498,628$1,163,352
74$1,298,184$601,728$460,994$1,213,547
75$1,374,549$575,162$420,387$1,267,455
76$1,456,937$545,529$376,654$1,325,442
77$1,545,908$512,623$329,634$1,387,912
78$1,642,074$476,226$279,162$1,455,312
79$1,746,113$436,108$225,060$1,528,134
80$1,858,764$392,025$167,147$1,606,925
81$1,980,844$343,720$105,233$1,692,284
82$2,113,249$290,922$39,118$1,784,878
83$2,256,967$233,342$0$1,885,439
84$2,413,080$170,679$0$1,997,797
85$2,582,783$102,611$0$2,124,034
86$2,767,388$28,800$0$2,261,398
87$2,968,340$0$0$2,411,004
88$3,187,227$0$0$2,583,641
89$3,425,798$0$0$2,777,704
90$3,685,977$0$0$2,989,372
91$3,969,884$0$0$3,220,373
92$4,279,849$0$0$3,472,609
93$4,618,439$0$0$3,748,170
94$4,988,480$0$0$4,049,362
95$5,393,082$0$0$4,378,719
96$5,835,671$0$0$4,739,036
97$6,320,017$0$0$5,133,385
98$6,850,273$0$0$5,565,154
99$7,431,012$0$0$6,038,071
100$8,067,271$0$0$6,556,241