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%14%
1 years$57,475$56,963$56,464$55,976$55,500$54,581
2 years$28,453$27,923$27,410$26,912$26,429$25,505
3 years$18,780$18,248$17,736$17,243$16,767$15,868
4 years$13,945$13,414$12,907$12,422$11,959$11,091
5 years$11,044$10,517$10,016$9,541$9,091$8,257
6 years$9,111$8,588$8,095$7,630$7,193$6,395
7 years$7,731$7,212$6,727$6,273$5,850$5,086
8 years$6,696$6,182$5,705$5,263$4,853$4,125
9 years$5,892$5,383$4,914$4,483$4,087$3,393
10 years$5,249$4,745$4,284$3,864$3,482$2,823
11 years$4,723$4,224$3,771$3,363$2,995$2,368
12 years$4,285$3,791$3,347$2,950$2,595$2,001
13 years$3,915$3,426$2,990$2,604$2,263$1,701
14 years$3,598$3,114$2,687$2,312$1,984$1,452
15 years$3,324$2,845$2,426$2,062$1,747$1,245
16 years$3,084$2,610$2,199$1,846$1,544$1,071
17 years$2,872$2,404$2,001$1,659$1,369$923
18 years$2,684$2,221$1,827$1,495$1,217$798
19 years$2,516$2,059$1,673$1,351$1,085$691
20 years$2,365$1,913$1,535$1,223$969$600
21 years$2,229$1,782$1,412$1,110$867$521
22 years$2,105$1,663$1,301$1,009$777$453
23 years$1,993$1,556$1,201$919$698$395
24 years$1,889$1,458$1,111$838$627$344
25 years$1,794$1,368$1,029$766$564$300
26 years$1,707$1,286$954$700$508$262
27 years$1,626$1,210$886$641$458$229
28 years$1,551$1,140$824$587$414$200
29 years$1,482$1,075$767$538$373$175
30 years$1,417$1,016$714$494$337$153
31 years$1,356$960$666$454$305$134
32 years$1,300$908$621$417$276$117
33 years$1,246$860$580$384$250$103
34 years$1,197$815$542$353$226$90
35 years$1,150$773$507$325$205$79
36 years$1,105$734$474$299$186$69
37 years$1,064$697$444$276$168$60
38 years$1,024$663$415$254$152$53
39 years$987$630$389$234$138$46
40 years$952$599$365$216$125$41
41 years$918$571$342$199$114$36
42 years$886$543$321$184$103$31
43 years$856$518$301$170$94$27
44 years$827$494$283$157$85$24
45 years$799$471$265$145$77$21
46 years$773$449$249$134$70$18
47 years$748$428$234$124$64$16
48 years$724$409$220$114$58$14
49 years$701$391$207$106$52$12
50 years$680$373$194$98$48$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $696,000, adding $2,913 every year, while hoping to spend $41,587 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: 61/34/5 Blend
63$696,000$696,000$696,000$696,000
64$769,997$733,109$722,321$816,162
65$804,288$724,783$702,270$839,014
66$840,684$714,655$680,154$858,837
67$879,353$702,593$655,860$879,390
68$920,485$688,458$629,268$900,743
69$964,282$672,100$600,256$922,974
70$1,010,968$653,362$568,694$946,171
71$1,060,789$632,079$534,447$970,431
72$1,114,012$608,074$497,374$995,867
73$1,170,932$581,161$457,328$1,022,602
74$1,231,873$551,142$414,153$1,050,773
75$1,297,186$517,811$367,690$1,080,538
76$1,367,261$480,945$317,769$1,112,068
77$1,442,522$440,313$264,215$1,145,559
78$1,523,439$395,667$206,846$1,181,228
79$1,610,522$346,748$145,468$1,219,316
80$1,704,337$293,279$79,882$1,260,094
81$1,805,501$234,972$9,880$1,303,864
82$1,914,695$171,518$0$1,350,963
83$2,032,665$102,594$0$1,405,222
84$2,160,232$27,856$0$1,464,390
85$2,298,298$0$0$1,528,415
86$2,447,855$0$0$1,617,679
87$2,609,994$0$0$1,725,795
88$2,785,913$0$0$1,843,148
89$2,976,931$0$0$1,970,622
90$3,184,500$0$0$2,109,192
91$3,410,214$0$0$2,259,929
92$3,655,829$0$0$2,424,013
93$3,923,276$0$0$2,602,741
94$4,214,681$0$0$2,797,541
95$4,532,384$0$0$3,009,984
96$4,878,958$0$0$3,241,800
97$5,257,238$0$0$3,494,892
98$5,670,341$0$0$3,771,355
99$6,121,702$0$0$4,073,498
100$6,615,101$0$0$4,403,860