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%17.3%
1 years$58,301$57,782$57,275$56,780$56,297$54,627
2 years$28,862$28,324$27,803$27,298$26,808$25,139
3 years$19,050$18,510$17,991$17,490$17,008$15,392
4 years$14,145$13,607$13,093$12,601$12,130$10,581
5 years$11,203$10,668$10,160$9,679$9,221$7,742
6 years$9,242$8,711$8,211$7,740$7,297$5,889
7 years$7,842$7,316$6,823$6,364$5,934$4,598
8 years$6,793$6,271$5,787$5,338$4,923$3,657
9 years$5,977$5,460$4,984$4,547$4,146$2,949
10 years$5,324$4,813$4,345$3,920$3,532$2,404
11 years$4,791$4,284$3,826$3,411$3,038$1,975
12 years$4,347$3,845$3,395$2,992$2,633$1,633
13 years$3,971$3,475$3,033$2,642$2,296$1,358
14 years$3,650$3,159$2,725$2,345$2,012$1,134
15 years$3,371$2,886$2,461$2,091$1,772$950
16 years$3,128$2,648$2,231$1,872$1,566$798
17 years$2,913$2,438$2,030$1,682$1,389$672
18 years$2,723$2,253$1,853$1,516$1,235$567
19 years$2,553$2,088$1,697$1,370$1,100$479
20 years$2,399$1,940$1,557$1,241$983$405
21 years$2,261$1,807$1,432$1,126$880$343
22 years$2,136$1,687$1,320$1,024$788$291
23 years$2,021$1,578$1,219$932$708$247
24 years$1,916$1,478$1,127$850$636$210
25 years$1,820$1,387$1,044$777$572$178
26 years$1,731$1,304$968$710$516$152
27 years$1,650$1,227$899$650$465$129
28 years$1,574$1,156$836$596$419$110
29 years$1,503$1,091$778$546$379$93
30 years$1,437$1,030$724$501$342$79
31 years$1,376$974$675$460$309$68
32 years$1,318$922$630$423$280$58
33 years$1,264$873$588$389$253$49
34 years$1,214$827$550$358$229$42
35 years$1,166$785$514$330$208$36
36 years$1,121$745$481$303$188$30
37 years$1,079$707$450$280$171$26
38 years$1,039$672$421$258$155$22
39 years$1,001$639$395$238$140$19
40 years$965$608$370$219$127$16
41 years$931$579$347$202$115$14
42 years$899$551$326$187$105$12
43 years$868$525$305$172$95$10
44 years$839$501$287$159$86$8
45 years$811$477$269$147$78$7
46 years$784$455$253$136$71$6
47 years$759$435$238$125$65$5
48 years$735$415$223$116$59$4
49 years$712$396$210$107$53$4
50 years$689$378$197$99$48$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $706,000, adding $2,586 every year, while hoping to spend $34,402 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: 45/39/16 Blend
63$706,000$706,000$706,000$706,000
64$780,679$743,261$732,318$812,123
65$823,705$743,078$720,248$834,152
66$869,967$741,732$706,619$854,370
67$919,758$739,131$691,345$875,555
68$973,400$735,176$674,333$897,812
69$1,031,249$729,762$655,485$921,256
70$1,093,693$722,777$634,700$946,020
71$1,161,160$714,103$611,873$972,248
72$1,234,120$703,615$586,892$1,000,105
73$1,313,089$691,181$559,642$1,029,774
74$1,398,635$676,661$530,001$1,061,458
75$1,491,383$659,904$497,843$1,095,386
76$1,592,019$640,754$463,036$1,131,811
77$1,701,297$619,044$425,440$1,171,018
78$1,820,050$594,597$384,912$1,213,322
79$1,949,189$567,226$341,301$1,259,075
80$2,089,721$536,735$294,449$1,308,668
81$2,242,751$502,913$244,192$1,362,537
82$2,409,496$465,541$190,357$1,421,168
83$2,591,296$424,383$132,765$1,485,099
84$2,789,624$379,194$71,229$1,554,929
85$3,006,104$329,713$5,553$1,631,323
86$3,242,520$275,662$0$1,715,022
87$3,500,839$216,752$0$1,817,863
88$3,783,226$152,674$0$1,931,466
89$4,092,063$83,103$0$2,055,933
90$4,429,974$7,696$0$2,192,423
91$4,799,849$0$0$2,342,220
92$5,204,868$0$0$2,538,465
93$5,648,536$0$0$2,757,137
94$6,134,710$0$0$2,996,845
95$6,667,639$0$0$3,259,696
96$7,252,004$0$0$3,548,009
97$7,892,958$0$0$3,864,338
98$8,596,179$0$0$4,211,497
99$9,367,920$0$0$4,592,586
100$10,215,069$0$0$5,011,019