Can I retire at age 64 with 700,000?

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 $700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$57,805$57,290$56,788$56,298$55,819$54,359
2 years$28,617$28,084$27,567$27,066$26,580$25,120
3 years$18,888$18,353$17,838$17,342$16,864$15,448
4 years$14,025$13,491$12,981$12,494$12,027$10,667
5 years$11,108$10,577$10,074$9,596$9,143$7,842
6 years$9,164$8,637$8,141$7,674$7,235$5,994
7 years$7,776$7,254$6,765$6,309$5,884$4,704
8 years$6,735$6,218$5,738$5,293$4,881$3,762
9 years$5,926$5,414$4,942$4,508$4,111$3,050
10 years$5,279$4,772$4,308$3,886$3,502$2,500
11 years$4,750$4,248$3,793$3,382$3,012$2,066
12 years$4,310$3,813$3,366$2,967$2,610$1,719
13 years$3,938$3,446$3,008$2,619$2,276$1,438
14 years$3,619$3,132$2,702$2,325$1,995$1,208
15 years$3,343$2,861$2,440$2,073$1,757$1,018
16 years$3,101$2,625$2,212$1,857$1,553$861
17 years$2,889$2,418$2,013$1,668$1,377$730
18 years$2,700$2,234$1,837$1,503$1,224$620
19 years$2,531$2,070$1,682$1,358$1,091$527
20 years$2,379$1,924$1,544$1,230$975$449
21 years$2,242$1,792$1,420$1,117$872$383
22 years$2,117$1,673$1,309$1,015$782$327
23 years$2,004$1,565$1,208$925$702$280
24 years$1,900$1,466$1,118$843$631$239
25 years$1,805$1,376$1,035$770$568$205
26 years$1,717$1,293$960$704$511$175
27 years$1,635$1,217$891$645$461$150
28 years$1,560$1,147$829$591$416$129
29 years$1,490$1,082$771$542$376$110
30 years$1,425$1,021$718$497$339$95
31 years$1,364$966$670$456$307$81
32 years$1,307$914$625$419$278$70
33 years$1,254$865$583$386$251$60
34 years$1,203$820$545$355$227$51
35 years$1,156$778$510$327$206$44
36 years$1,112$738$477$301$187$38
37 years$1,070$701$446$277$169$32
38 years$1,030$666$418$256$153$28
39 years$993$634$391$236$139$24
40 years$957$603$367$217$126$21
41 years$923$574$344$201$114$18
42 years$891$547$323$185$104$15
43 years$861$521$303$171$94$13
44 years$832$496$284$158$86$11
45 years$804$473$267$146$78$10
46 years$778$452$251$135$70$8
47 years$753$431$236$124$64$7
48 years$728$411$221$115$58$6
49 years$705$393$208$106$53$5
50 years$683$375$196$98$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $700,000, adding $5,030 every year, while hoping to spend $42,741 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: 47/34/19 Blend
63$700,000$700,000$700,000$700,000
64$776,588$739,488$728,638$808,683
65$810,324$730,247$707,572$822,319
66$846,069$719,121$684,367$832,409
67$883,982$705,972$658,907$842,461
68$924,237$690,654$631,070$852,490
69$967,027$673,013$600,728$862,514
70$1,012,560$652,887$567,748$872,558
71$1,061,064$630,101$531,991$882,651
72$1,112,790$604,473$493,310$892,828
73$1,168,012$575,810$451,554$903,134
74$1,227,031$543,907$406,562$913,619
75$1,290,176$508,546$358,170$924,345
76$1,357,809$469,500$306,204$935,382
77$1,430,325$426,525$250,481$946,815
78$1,508,159$379,366$190,814$958,740
79$1,591,789$327,753$127,003$971,268
80$1,681,738$271,399$58,844$984,530
81$1,778,580$210,002$0$998,672
82$1,882,948$143,245$0$1,016,682
83$1,995,533$70,789$0$1,048,848
84$2,117,100$0$0$1,083,497
85$2,248,483$0$0$1,123,816
86$2,390,604$0$0$1,196,142
87$2,544,474$0$0$1,274,513
88$2,711,205$0$0$1,359,503
89$2,892,018$0$0$1,451,745
90$3,088,259$0$0$1,551,932
91$3,301,407$0$0$1,660,830
92$3,533,086$0$0$1,779,280
93$3,785,088$0$0$1,908,206
94$4,059,380$0$0$2,048,627
95$4,358,129$0$0$2,201,664
96$4,683,718$0$0$2,368,548
97$5,038,770$0$0$2,550,638
98$5,426,173$0$0$2,749,426
99$5,849,104$0$0$2,966,558
100$6,311,063$0$0$3,203,843