Can I retire at age 64 with 706,000?

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 $706,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$58,301$57,782$57,275$56,780$56,297$56,013
2 years$28,862$28,324$27,803$27,298$26,808$26,521
3 years$19,050$18,510$17,991$17,490$17,008$16,728
4 years$14,145$13,607$13,093$12,601$12,130$11,858
5 years$11,203$10,668$10,160$9,679$9,221$8,958
6 years$9,242$8,711$8,211$7,740$7,297$7,043
7 years$7,842$7,316$6,823$6,364$5,934$5,690
8 years$6,793$6,271$5,787$5,338$4,923$4,689
9 years$5,977$5,460$4,984$4,547$4,146$3,921
10 years$5,324$4,813$4,345$3,920$3,532$3,318
11 years$4,791$4,284$3,826$3,411$3,038$2,833
12 years$4,347$3,845$3,395$2,992$2,633$2,436
13 years$3,971$3,475$3,033$2,642$2,296$2,109
14 years$3,650$3,159$2,725$2,345$2,012$1,834
15 years$3,371$2,886$2,461$2,091$1,772$1,602
16 years$3,128$2,648$2,231$1,872$1,566$1,405
17 years$2,913$2,438$2,030$1,682$1,389$1,235
18 years$2,723$2,253$1,853$1,516$1,235$1,089
19 years$2,553$2,088$1,697$1,370$1,100$963
20 years$2,399$1,940$1,557$1,241$983$853
21 years$2,261$1,807$1,432$1,126$880$756
22 years$2,136$1,687$1,320$1,024$788$672
23 years$2,021$1,578$1,219$932$708$598
24 years$1,916$1,478$1,127$850$636$533
25 years$1,820$1,387$1,044$777$572$475
26 years$1,731$1,304$968$710$516$424
27 years$1,650$1,227$899$650$465$379
28 years$1,574$1,156$836$596$419$338
29 years$1,503$1,091$778$546$379$303
30 years$1,437$1,030$724$501$342$271
31 years$1,376$974$675$460$309$243
32 years$1,318$922$630$423$280$217
33 years$1,264$873$588$389$253$195
34 years$1,214$827$550$358$229$175
35 years$1,166$785$514$330$208$157
36 years$1,121$745$481$303$188$140
37 years$1,079$707$450$280$171$126
38 years$1,039$672$421$258$155$113
39 years$1,001$639$395$238$140$101
40 years$965$608$370$219$127$91
41 years$931$579$347$202$115$82
42 years$899$551$326$187$105$73
43 years$868$525$305$172$95$66
44 years$839$501$287$159$86$59
45 years$811$477$269$147$78$53
46 years$784$455$253$136$71$48
47 years$759$435$238$125$65$43
48 years$735$415$223$116$59$39
49 years$712$396$210$107$53$35
50 years$689$378$197$99$48$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $706,000, adding $6,694 every year, while hoping to spend $31,247 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: 58/22/20 Blend
63$706,000$706,000$706,000$706,000
64$784,917$747,499$736,556$825,912
65$831,732$750,880$727,984$857,920
66$882,275$753,379$718,078$888,834
67$936,893$754,920$706,759$921,843
68$995,967$755,423$693,947$957,154
69$1,059,918$754,801$679,557$994,999
70$1,129,206$752,963$663,498$1,035,633
71$1,204,339$749,812$645,679$1,079,338
72$1,285,874$745,245$626,002$1,126,427
73$1,374,424$739,153$604,364$1,177,246
74$1,470,664$731,421$580,659$1,232,178
75$1,575,337$721,925$554,776$1,291,645
76$1,689,257$710,535$526,597$1,356,115
77$1,813,325$697,115$496,001$1,426,105
78$1,948,528$681,517$462,861$1,502,188
79$2,095,954$663,588$427,043$1,584,996
80$2,256,801$643,164$388,409$1,675,228
81$2,432,387$620,071$346,813$1,773,656
82$2,624,163$594,127$302,103$1,881,134
83$2,833,725$565,137$254,122$1,998,606
84$3,062,833$532,896$202,702$2,127,114
85$3,313,421$497,187$147,672$2,267,809
86$3,587,623$457,782$88,852$2,421,965
87$3,887,784$414,437$26,052$2,590,986
88$4,216,490$366,896$0$2,776,425
89$4,576,586$314,888$0$2,988,738
90$4,971,208$258,128$0$3,227,579
91$5,403,807$196,312$0$3,489,517
92$5,878,185$129,121$0$3,776,910
93$6,398,531$56,219$0$4,092,355
94$6,969,456$0$0$4,438,718
95$7,596,041$0$0$4,824,667
96$8,283,883$0$0$5,263,350
97$9,039,145$0$0$5,745,095
98$9,868,619$0$0$6,274,242
99$10,779,785$0$0$6,855,571
100$11,780,883$0$0$7,494,348