Can I retire at age 64 with 703,000?

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 $703,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$58,053$57,536$57,031$56,539$56,058$55,335
2 years$28,739$28,204$27,685$27,182$26,694$25,967
3 years$18,969$18,432$17,914$17,416$16,936$16,226
4 years$14,085$13,549$13,037$12,547$12,079$11,393
5 years$11,155$10,623$10,117$9,637$9,182$8,522
6 years$9,203$8,674$8,176$7,707$7,266$6,632
7 years$7,809$7,285$6,794$6,336$5,909$5,302
8 years$6,764$6,244$5,762$5,316$4,902$4,322
9 years$5,951$5,437$4,963$4,528$4,128$3,574
10 years$5,302$4,792$4,327$3,903$3,517$2,990
11 years$4,771$4,266$3,809$3,397$3,025$2,523
12 years$4,328$3,829$3,381$2,979$2,621$2,144
13 years$3,954$3,460$3,020$2,630$2,286$1,833
14 years$3,634$3,145$2,714$2,335$2,004$1,575
15 years$3,357$2,873$2,450$2,082$1,764$1,358
16 years$3,115$2,636$2,221$1,864$1,559$1,175
17 years$2,901$2,428$2,021$1,675$1,383$1,020
18 years$2,711$2,244$1,845$1,510$1,229$887
19 years$2,542$2,079$1,689$1,364$1,096$774
20 years$2,389$1,932$1,550$1,236$979$676
21 years$2,252$1,800$1,426$1,121$876$591
22 years$2,127$1,680$1,314$1,020$785$518
23 years$2,013$1,571$1,214$928$705$454
24 years$1,908$1,472$1,122$847$633$398
25 years$1,812$1,382$1,039$773$570$350
26 years$1,724$1,298$964$707$513$308
27 years$1,643$1,222$895$647$463$271
28 years$1,567$1,151$832$593$418$238
29 years$1,497$1,086$774$544$377$210
30 years$1,431$1,026$721$499$341$185
31 years$1,370$970$673$458$308$163
32 years$1,313$918$627$421$279$144
33 years$1,259$869$586$387$252$127
34 years$1,209$824$547$356$228$112
35 years$1,161$781$512$328$207$99
36 years$1,117$741$479$302$187$87
37 years$1,074$704$448$278$170$77
38 years$1,035$669$420$257$154$68
39 years$997$636$393$237$140$60
40 years$961$605$369$218$127$53
41 years$927$576$346$201$115$47
42 years$895$549$324$186$104$41
43 years$864$523$304$172$95$37
44 years$835$499$286$158$86$32
45 years$807$475$268$146$78$29
46 years$781$454$252$135$71$25
47 years$756$433$237$125$64$22
48 years$732$413$222$115$58$20
49 years$708$395$209$107$53$17
50 years$686$377$196$99$48$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $703,000, adding $5,032 every year, while hoping to spend $53,098 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: 68/9/23 Blend
63$703,000$703,000$703,000$703,000
64$779,897$742,638$731,741$828,051
65$802,950$722,531$699,758$840,852
66$826,576$699,659$664,925$848,261
67$850,775$673,832$627,089$855,113
68$875,549$644,845$586,092$861,350
69$900,898$612,484$541,768$866,913
70$926,817$576,523$493,945$871,737
71$953,301$536,723$442,441$875,753
72$980,344$492,828$387,069$878,886
73$1,007,934$444,571$327,630$881,056
74$1,036,057$391,669$263,920$882,177
75$1,064,696$333,822$195,722$882,158
76$1,093,830$270,714$122,814$880,898
77$1,123,432$202,010$44,959$878,292
78$1,153,471$127,358$0$874,225
79$1,183,911$46,385$0$877,930
80$1,214,709$0$0$892,300
81$1,245,814$0$0$910,305
82$1,277,170$0$0$933,069
83$1,308,708$0$0$955,947
84$1,340,353$0$0$978,881
85$1,372,017$0$0$1,001,805
86$1,403,603$0$0$1,024,644
87$1,434,997$0$0$1,047,314
88$1,466,072$0$0$1,069,718
89$1,496,684$0$0$1,091,748
90$1,526,674$0$0$1,113,282
91$1,555,858$0$0$1,134,182
92$1,584,033$0$0$1,154,296
93$1,610,970$0$0$1,173,452
94$1,636,414$0$0$1,191,455
95$1,660,078$0$0$1,208,092
96$1,681,644$0$0$1,223,122
97$1,700,755$0$0$1,236,276
98$1,717,015$0$0$1,247,257
99$1,729,980$0$0$1,255,732
100$1,739,160$0$0$1,261,330