Can I retire at age 64 with 701,000?

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 $701,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$57,888$57,372$56,869$56,378$55,899$54,860
2 years$28,657$28,124$27,606$27,105$26,618$25,576
3 years$18,915$18,379$17,863$17,366$16,888$15,874
4 years$14,045$13,511$13,000$12,511$12,045$11,067
5 years$11,124$10,592$10,088$9,610$9,156$8,218
6 years$9,177$8,650$8,153$7,685$7,245$6,347
7 years$7,787$7,264$6,775$6,318$5,892$5,034
8 years$6,745$6,226$5,746$5,300$4,888$4,071
9 years$5,934$5,421$4,949$4,515$4,116$3,339
10 years$5,287$4,779$4,315$3,892$3,507$2,769
11 years$4,757$4,254$3,798$3,387$3,016$2,316
12 years$4,316$3,818$3,371$2,971$2,614$1,951
13 years$3,943$3,451$3,012$2,623$2,279$1,652
14 years$3,624$3,136$2,706$2,328$1,998$1,406
15 years$3,347$2,865$2,443$2,076$1,759$1,201
16 years$3,106$2,629$2,215$1,859$1,555$1,029
17 years$2,893$2,421$2,016$1,670$1,379$885
18 years$2,703$2,237$1,840$1,505$1,226$762
19 years$2,534$2,073$1,685$1,360$1,093$657
20 years$2,382$1,927$1,546$1,232$976$568
21 years$2,245$1,795$1,422$1,118$873$492
22 years$2,121$1,675$1,311$1,017$783$426
23 years$2,007$1,567$1,210$926$703$370
24 years$1,903$1,468$1,119$844$632$321
25 years$1,807$1,378$1,037$771$568$279
26 years$1,719$1,295$961$705$512$243
27 years$1,638$1,219$893$645$462$211
28 years$1,562$1,148$830$591$417$184
29 years$1,492$1,083$772$542$376$160
30 years$1,427$1,023$719$498$340$139
31 years$1,366$967$671$457$307$121
32 years$1,309$915$626$420$278$106
33 years$1,255$867$584$386$252$92
34 years$1,205$821$546$355$228$80
35 years$1,158$779$510$327$206$70
36 years$1,113$739$477$301$187$61
37 years$1,071$702$447$278$169$53
38 years$1,032$667$418$256$154$47
39 years$994$635$392$236$139$41
40 years$958$604$367$218$126$36
41 years$925$575$345$201$115$31
42 years$892$547$323$185$104$27
43 years$862$522$303$171$94$24
44 years$833$497$285$158$86$21
45 years$805$474$267$146$78$18
46 years$779$452$251$135$71$16
47 years$754$432$236$124$64$14
48 years$729$412$222$115$58$12
49 years$706$393$208$106$53$10
50 years$684$376$196$98$48$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $701,000, adding $6,888 every year, while hoping to spend $53,864 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: 82/12/6 Blend
63$701,000$701,000$701,000$701,000
64$779,607$742,454$731,588$842,660
65$801,816$721,523$698,786$863,956
66$824,485$697,762$663,079$879,400
67$847,604$670,974$624,314$894,686
68$871,161$640,952$582,329$909,766
69$895,139$607,479$536,957$924,588
70$919,519$570,321$488,021$939,093
71$944,277$529,234$435,337$953,220
72$969,387$483,960$378,714$966,899
73$994,814$434,224$317,951$980,053
74$1,020,522$379,737$252,839$992,599
75$1,046,465$320,195$183,159$1,004,444
76$1,072,592$255,272$108,683$1,015,489
77$1,098,846$184,630$29,173$1,025,622
78$1,125,158$107,906$0$1,034,722
79$1,151,452$24,721$0$1,046,221
80$1,177,641$0$0$1,058,634
81$1,203,626$0$0$1,078,574
82$1,229,298$0$0$1,101,486
83$1,254,528$0$0$1,123,991
84$1,279,178$0$0$1,145,961
85$1,303,087$0$0$1,167,253
86$1,326,079$0$0$1,187,705
87$1,347,952$0$0$1,207,138
88$1,368,486$0$0$1,225,348
89$1,387,429$0$0$1,242,112
90$1,404,505$0$0$1,257,176
91$1,419,402$0$0$1,270,260
92$1,431,776$0$0$1,281,051
93$1,441,240$0$0$1,289,202
94$1,447,368$0$0$1,294,325
95$1,449,684$0$0$1,295,989
96$1,447,658$0$0$1,293,718
97$1,440,704$0$0$1,286,979
98$1,428,170$0$0$1,275,183
99$1,409,333$0$0$1,257,678
100$1,383,394$0$0$1,233,739