Can I retire at age 64 with 707,000?

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 $707,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$58,383$57,863$57,356$56,861$56,377$54,859
2 years$28,903$28,364$27,843$27,337$26,846$25,327
3 years$19,077$18,536$18,016$17,515$17,032$15,560
4 years$14,165$13,626$13,111$12,619$12,148$10,734
5 years$11,219$10,683$10,175$9,692$9,234$7,883
6 years$9,255$8,724$8,223$7,751$7,307$6,019
7 years$7,853$7,326$6,833$6,373$5,942$4,718
8 years$6,802$6,280$5,795$5,346$4,930$3,768
9 years$5,985$5,468$4,991$4,553$4,152$3,052
10 years$5,332$4,819$4,351$3,925$3,537$2,498
11 years$4,798$4,291$3,831$3,416$3,042$2,062
12 years$4,353$3,851$3,400$2,996$2,636$1,713
13 years$3,977$3,480$3,038$2,645$2,299$1,431
14 years$3,655$3,163$2,729$2,348$2,015$1,200
15 years$3,376$2,890$2,464$2,094$1,774$1,011
16 years$3,132$2,651$2,234$1,875$1,568$853
17 years$2,917$2,442$2,033$1,685$1,390$722
18 years$2,727$2,256$1,856$1,518$1,236$612
19 years$2,556$2,091$1,699$1,372$1,102$520
20 years$2,403$1,943$1,559$1,243$984$443
21 years$2,264$1,810$1,434$1,128$881$377
22 years$2,139$1,690$1,322$1,025$790$321
23 years$2,024$1,580$1,220$934$709$274
24 years$1,919$1,481$1,129$852$637$234
25 years$1,823$1,389$1,045$778$573$200
26 years$1,734$1,306$970$711$516$171
27 years$1,652$1,229$900$651$466$146
28 years$1,576$1,158$837$596$420$125
29 years$1,505$1,092$779$547$379$107
30 years$1,439$1,032$725$502$343$92
31 years$1,378$975$676$461$310$79
32 years$1,320$923$631$424$280$67
33 years$1,266$874$589$390$254$58
34 years$1,215$828$551$358$230$49
35 years$1,168$786$515$330$208$42
36 years$1,123$746$481$304$188$36
37 years$1,080$708$451$280$171$31
38 years$1,040$673$422$258$155$27
39 years$1,003$640$395$238$140$23
40 years$967$609$371$219$127$20
41 years$932$580$348$203$116$17
42 years$900$552$326$187$105$14
43 years$869$526$306$173$95$12
44 years$840$501$287$159$86$11
45 years$812$478$270$147$78$9
46 years$785$456$253$136$71$8
47 years$760$435$238$126$65$7
48 years$736$415$224$116$59$6
49 years$713$397$210$107$53$5
50 years$690$379$198$99$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $707,000, adding $3,595 every year, while hoping to spend $38,229 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: 68/16/16 Blend
63$707,000$707,000$707,000$707,000
64$782,822$745,351$734,393$832,848
65$821,995$741,198$718,320$862,512
66$863,882$735,560$700,427$890,101
67$908,719$728,324$680,613$919,319
68$956,767$719,371$658,772$950,322
69$1,008,310$708,572$634,793$983,285
70$1,063,659$695,794$608,560$1,018,398
71$1,123,158$680,893$579,952$1,055,876
72$1,187,182$663,719$548,843$1,095,954
73$1,256,145$644,112$515,100$1,138,893
74$1,330,500$621,902$478,584$1,184,981
75$1,410,745$596,909$439,151$1,234,538
76$1,497,428$568,945$396,649$1,287,918
77$1,591,151$537,808$350,922$1,345,512
78$1,692,575$503,287$301,804$1,407,752
79$1,802,426$465,157$249,123$1,475,117
80$1,921,504$423,180$192,699$1,548,137
81$2,050,688$377,106$132,345$1,627,397
82$2,190,944$326,670$67,864$1,713,545
83$2,343,335$271,592$0$1,807,298
84$2,509,031$211,576$0$1,909,607
85$2,689,318$146,309$0$2,033,562
86$2,885,612$75,462$0$2,168,568
87$3,099,471$0$0$2,315,736
88$3,332,608$0$0$2,476,518
89$3,586,911$0$0$2,666,427
90$3,864,455$0$0$2,873,732
91$4,167,527$0$0$3,100,144
92$4,498,642$0$0$3,347,549
93$4,860,571$0$0$3,618,022
94$5,256,363$0$0$3,913,848
95$5,689,377$0$0$4,237,542
96$6,163,309$0$0$4,591,873
97$6,682,231$0$0$4,979,893
98$7,250,627$0$0$5,404,959
99$7,873,433$0$0$5,870,772
100$8,556,088$0$0$6,381,404