Can I retire at age 64 with 706,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%12.2%
1 years$58,301$57,782$57,275$56,780$56,297$55,779
2 years$28,862$28,324$27,803$27,298$26,808$26,286
3 years$19,050$18,510$17,991$17,490$17,008$16,498
4 years$14,145$13,607$13,093$12,601$12,130$11,637
5 years$11,203$10,668$10,160$9,679$9,221$8,745
6 years$9,242$8,711$8,211$7,740$7,297$6,839
7 years$7,842$7,316$6,823$6,364$5,934$5,495
8 years$6,793$6,271$5,787$5,338$4,923$4,502
9 years$5,977$5,460$4,984$4,547$4,146$3,743
10 years$5,324$4,813$4,345$3,920$3,532$3,148
11 years$4,791$4,284$3,826$3,411$3,038$2,671
12 years$4,347$3,845$3,395$2,992$2,633$2,283
13 years$3,971$3,475$3,033$2,642$2,296$1,963
14 years$3,650$3,159$2,725$2,345$2,012$1,697
15 years$3,371$2,886$2,461$2,091$1,772$1,472
16 years$3,128$2,648$2,231$1,872$1,566$1,282
17 years$2,913$2,438$2,030$1,682$1,389$1,120
18 years$2,723$2,253$1,853$1,516$1,235$980
19 years$2,553$2,088$1,697$1,370$1,100$860
20 years$2,399$1,940$1,557$1,241$983$756
21 years$2,261$1,807$1,432$1,126$880$666
22 years$2,136$1,687$1,320$1,024$788$587
23 years$2,021$1,578$1,219$932$708$519
24 years$1,916$1,478$1,127$850$636$458
25 years$1,820$1,387$1,044$777$572$406
26 years$1,731$1,304$968$710$516$359
27 years$1,650$1,227$899$650$465$318
28 years$1,574$1,156$836$596$419$282
29 years$1,503$1,091$778$546$379$250
30 years$1,437$1,030$724$501$342$222
31 years$1,376$974$675$460$309$197
32 years$1,318$922$630$423$280$175
33 years$1,264$873$588$389$253$156
34 years$1,214$827$550$358$229$139
35 years$1,166$785$514$330$208$123
36 years$1,121$745$481$303$188$110
37 years$1,079$707$450$280$171$98
38 years$1,039$672$421$258$155$87
39 years$1,001$639$395$238$140$77
40 years$965$608$370$219$127$69
41 years$931$579$347$202$115$61
42 years$899$551$326$187$105$55
43 years$868$525$305$172$95$49
44 years$839$501$287$159$86$43
45 years$811$477$269$147$78$39
46 years$784$455$253$136$71$34
47 years$759$435$238$125$65$31
48 years$735$415$223$116$59$27
49 years$712$396$210$107$53$24
50 years$689$378$197$99$48$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $706,000, adding $5,441 every year, while hoping to spend $28,356 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: 83/5/12 Blend
63$706,000$706,000$706,000$706,000
64$783,624$746,206$735,263$846,564
65$833,384$752,600$729,724$894,986
66$887,268$758,356$723,049$943,833
67$945,668$763,415$715,170$996,626
68$1,009,013$767,709$706,016$1,053,748
69$1,077,777$771,172$695,512$1,115,618
70$1,152,479$773,728$683,580$1,182,697
71$1,233,691$775,299$670,139$1,255,495
72$1,322,042$775,803$655,102$1,334,571
73$1,418,223$775,151$638,382$1,420,544
74$1,522,997$773,248$619,883$1,514,094
75$1,637,202$769,996$599,508$1,615,969
76$1,761,759$765,289$577,154$1,726,996
77$1,897,685$759,015$552,715$1,848,084
78$2,046,096$751,054$526,078$1,980,234
79$2,208,223$741,280$497,127$2,124,551
80$2,385,420$729,561$465,739$2,282,252
81$2,579,177$715,754$431,785$2,454,677
82$2,791,137$699,710$395,134$2,643,303
83$3,023,106$681,269$355,644$2,849,759
84$3,277,075$660,263$313,171$3,075,836
85$3,555,236$636,516$267,561$3,323,513
86$3,860,002$609,837$218,657$3,594,967
87$4,194,032$580,028$166,291$3,892,599
88$4,560,252$546,879$110,291$4,219,053
89$4,961,888$510,166$50,475$4,577,246
90$5,402,489$469,653$0$4,970,389
91$5,885,968$425,091$0$5,403,733
92$6,416,634$376,217$0$5,886,479
93$6,999,232$322,753$0$6,416,481
94$7,638,990$264,404$0$6,998,507
95$8,341,667$200,860$0$7,637,808
96$9,113,607$131,793$0$8,340,169
97$9,961,800$56,856$0$9,111,965
98$10,893,945$0$0$9,960,219
99$11,918,523$0$0$10,894,006
100$13,044,881$0$0$11,924,007