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%12.7%
1 years$58,053$57,536$57,031$56,539$56,058$55,427
2 years$28,739$28,204$27,685$27,182$26,694$26,059
3 years$18,969$18,432$17,914$17,416$16,936$16,316
4 years$14,085$13,549$13,037$12,547$12,079$11,479
5 years$11,155$10,623$10,117$9,637$9,182$8,604
6 years$9,203$8,674$8,176$7,707$7,266$6,710
7 years$7,809$7,285$6,794$6,336$5,909$5,377
8 years$6,764$6,244$5,762$5,316$4,902$4,393
9 years$5,951$5,437$4,963$4,528$4,128$3,642
10 years$5,302$4,792$4,327$3,903$3,517$3,053
11 years$4,771$4,266$3,809$3,397$3,025$2,583
12 years$4,328$3,829$3,381$2,979$2,621$2,201
13 years$3,954$3,460$3,020$2,630$2,286$1,886
14 years$3,634$3,145$2,714$2,335$2,004$1,625
15 years$3,357$2,873$2,450$2,082$1,764$1,405
16 years$3,115$2,636$2,221$1,864$1,559$1,219
17 years$2,901$2,428$2,021$1,675$1,383$1,061
18 years$2,711$2,244$1,845$1,510$1,229$926
19 years$2,542$2,079$1,689$1,364$1,096$810
20 years$2,389$1,932$1,550$1,236$979$709
21 years$2,252$1,800$1,426$1,121$876$622
22 years$2,127$1,680$1,314$1,020$785$547
23 years$2,013$1,571$1,214$928$705$481
24 years$1,908$1,472$1,122$847$633$423
25 years$1,812$1,382$1,039$773$570$373
26 years$1,724$1,298$964$707$513$329
27 years$1,643$1,222$895$647$463$290
28 years$1,567$1,151$832$593$418$257
29 years$1,497$1,086$774$544$377$227
30 years$1,431$1,026$721$499$341$200
31 years$1,370$970$673$458$308$177
32 years$1,313$918$627$421$279$157
33 years$1,259$869$586$387$252$139
34 years$1,209$824$547$356$228$123
35 years$1,161$781$512$328$207$109
36 years$1,117$741$479$302$187$96
37 years$1,074$704$448$278$170$85
38 years$1,035$669$420$257$154$76
39 years$997$636$393$237$140$67
40 years$961$605$369$218$127$59
41 years$927$576$346$201$115$53
42 years$895$549$324$186$104$47
43 years$864$523$304$172$95$41
44 years$835$499$286$158$86$37
45 years$807$475$268$146$78$33
46 years$781$454$252$135$71$29
47 years$756$433$237$125$64$26
48 years$732$413$222$115$58$23
49 years$708$395$209$107$53$20
50 years$686$377$196$99$48$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $703,000, adding $5,235 every year, while hoping to spend $48,884 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: 24/48/28 Blend
63$703,000$703,000$703,000$703,000
64$780,106$742,847$731,950$791,863
65$807,665$727,234$704,459$786,629
66$836,396$709,218$674,407$776,554
67$866,367$688,629$641,659$764,734
68$897,653$665,288$606,071$751,058
69$930,332$639,005$567,493$735,406
70$964,489$609,580$525,767$717,655
71$1,000,217$576,799$480,730$697,676
72$1,037,616$540,439$432,211$675,332
73$1,076,793$500,262$380,031$650,480
74$1,117,868$456,016$324,004$622,972
75$1,160,965$407,436$263,933$592,651
76$1,206,225$354,241$199,616$559,353
77$1,253,797$296,136$130,840$522,907
78$1,303,843$232,806$57,382$483,135
79$1,356,543$163,921$0$439,850
80$1,412,089$89,132$0$399,134
81$1,470,691$8,069$0$373,211
82$1,532,580$0$0$344,783
83$1,598,006$0$0$355,784
84$1,667,242$0$0$371,989
85$1,740,587$0$0$389,215
86$1,818,366$0$0$407,545
87$1,900,936$0$0$427,072
88$1,988,687$0$0$447,897
89$2,082,045$0$0$470,129
90$2,181,477$0$0$493,890
91$2,287,493$0$0$519,312
92$2,400,653$0$0$546,542
93$2,521,571$0$0$575,738
94$2,650,917$0$0$607,076
95$2,789,430$0$0$640,747
96$2,937,917$0$0$676,964
97$3,097,264$0$0$715,956
98$3,268,444$0$0$757,979
99$3,452,526$0$0$803,311
100$3,650,681$0$0$852,260