Can I retire at age 64 with 698,000?

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 $698,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$57,640$57,127$56,626$56,137$55,660$54,380
2 years$28,535$28,003$27,488$26,989$26,505$25,223
3 years$18,834$18,300$17,787$17,292$16,816$15,571
4 years$13,985$13,453$12,944$12,458$11,993$10,796
5 years$11,076$10,547$10,045$9,569$9,117$7,970
6 years$9,137$8,613$8,118$7,652$7,214$6,119
7 years$7,753$7,233$6,746$6,291$5,867$4,824
8 years$6,716$6,200$5,721$5,278$4,867$3,875
9 years$5,909$5,398$4,928$4,495$4,099$3,158
10 years$5,264$4,758$4,296$3,875$3,492$2,601
11 years$4,737$4,236$3,782$3,373$3,004$2,161
12 years$4,298$3,802$3,357$2,958$2,603$1,807
13 years$3,926$3,436$2,999$2,612$2,270$1,519
14 years$3,608$3,123$2,695$2,318$1,990$1,283
15 years$3,333$2,853$2,433$2,067$1,752$1,088
16 years$3,092$2,618$2,206$1,851$1,548$925
17 years$2,880$2,411$2,007$1,663$1,373$789
18 years$2,692$2,228$1,832$1,499$1,221$674
19 years$2,524$2,064$1,677$1,354$1,088$577
20 years$2,372$1,918$1,539$1,227$972$494
21 years$2,236$1,787$1,416$1,113$870$424
22 years$2,111$1,668$1,305$1,012$780$365
23 years$1,998$1,560$1,205$922$700$314
24 years$1,895$1,462$1,114$841$629$270
25 years$1,800$1,372$1,032$768$566$232
26 years$1,712$1,289$957$702$510$200
27 years$1,631$1,213$889$643$460$173
28 years$1,556$1,143$826$589$415$149
29 years$1,486$1,079$769$540$374$129
30 years$1,421$1,019$716$496$338$111
31 years$1,360$963$668$455$306$96
32 years$1,303$911$623$418$277$83
33 years$1,250$863$582$385$250$72
34 years$1,200$818$544$354$227$62
35 years$1,153$776$508$326$205$53
36 years$1,109$736$475$300$186$46
37 years$1,067$699$445$276$169$40
38 years$1,027$664$417$255$153$35
39 years$990$632$390$235$139$30
40 years$954$601$366$217$126$26
41 years$921$572$343$200$114$22
42 years$889$545$322$185$104$19
43 years$858$519$302$170$94$17
44 years$829$495$283$157$85$14
45 years$802$472$266$145$77$12
46 years$775$450$250$134$70$11
47 years$750$430$235$124$64$9
48 years$726$410$221$115$58$8
49 years$703$392$207$106$53$7
50 years$681$374$195$98$48$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $698,000, adding $4,475 every year, while hoping to spend $25,311 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: 47/42/11 Blend
63$698,000$698,000$698,000$698,000
64$773,812$736,818$725,999$807,617
65$825,810$745,991$723,389$840,572
66$882,264$754,766$719,844$873,336
67$943,601$763,095$715,304$908,321
68$1,010,291$770,930$709,710$945,744
69$1,082,853$778,218$702,998$985,842
70$1,161,856$784,903$695,100$1,028,877
71$1,247,927$790,924$685,948$1,075,141
72$1,341,755$796,219$675,466$1,124,953
73$1,444,099$800,719$663,580$1,178,669
74$1,555,796$804,353$650,208$1,236,680
75$1,677,764$807,043$635,267$1,299,420
76$1,811,015$808,708$618,669$1,367,367
77$1,956,666$809,262$600,321$1,441,049
78$2,115,942$808,612$580,128$1,521,051
79$2,290,194$806,660$557,988$1,608,018
80$2,480,911$803,303$533,798$1,702,664
81$2,689,730$798,431$507,446$1,805,775
82$2,918,455$791,927$478,818$1,918,221
83$3,169,073$783,667$447,794$2,040,964
84$3,443,772$773,520$414,248$2,175,063
85$3,744,960$761,346$378,049$2,321,693
86$4,075,292$746,998$339,060$2,482,145
87$4,437,691$730,320$297,138$2,657,849
88$4,835,376$711,147$252,133$2,850,384
89$5,271,894$689,302$203,889$3,061,490
90$5,751,152$664,602$152,243$3,293,092
91$6,277,451$636,850$97,025$3,547,312
92$6,855,533$605,837$38,057$3,826,493
93$7,490,619$571,345$0$4,133,224
94$8,188,463$533,141$0$4,473,278
95$8,955,401$490,980$0$4,851,844
96$9,798,416$444,602$0$5,267,953
97$10,725,200$393,733$0$5,725,467
98$11,744,227$338,083$0$6,228,649
99$12,864,834$277,345$0$6,782,198
100$14,097,308$211,196$0$7,391,301