Can I retire at age 64 with 707,000?

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 $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%11.6%
1 years$58,383$57,863$57,356$56,861$56,377$55,998
2 years$28,903$28,364$27,843$27,337$26,846$26,464
3 years$19,077$18,536$18,016$17,515$17,032$16,659
4 years$14,165$13,626$13,111$12,619$12,148$11,786
5 years$11,219$10,683$10,175$9,692$9,234$8,885
6 years$9,255$8,724$8,223$7,751$7,307$6,970
7 years$7,853$7,326$6,833$6,373$5,942$5,619
8 years$6,802$6,280$5,795$5,346$4,930$4,620
9 years$5,985$5,468$4,991$4,553$4,152$3,855
10 years$5,332$4,819$4,351$3,925$3,537$3,253
11 years$4,798$4,291$3,831$3,416$3,042$2,771
12 years$4,353$3,851$3,400$2,996$2,636$2,377
13 years$3,977$3,480$3,038$2,645$2,299$2,052
14 years$3,655$3,163$2,729$2,348$2,015$1,780
15 years$3,376$2,890$2,464$2,094$1,774$1,551
16 years$3,132$2,651$2,234$1,875$1,568$1,356
17 years$2,917$2,442$2,033$1,685$1,390$1,190
18 years$2,727$2,256$1,856$1,518$1,236$1,046
19 years$2,556$2,091$1,699$1,372$1,102$922
20 years$2,403$1,943$1,559$1,243$984$814
21 years$2,264$1,810$1,434$1,128$881$720
22 years$2,139$1,690$1,322$1,025$790$638
23 years$2,024$1,580$1,220$934$709$566
24 years$1,919$1,481$1,129$852$637$502
25 years$1,823$1,389$1,045$778$573$447
26 years$1,734$1,306$970$711$516$397
27 years$1,652$1,229$900$651$466$354
28 years$1,576$1,158$837$596$420$315
29 years$1,505$1,092$779$547$379$281
30 years$1,439$1,032$725$502$343$251
31 years$1,378$975$676$461$310$224
32 years$1,320$923$631$424$280$200
33 years$1,266$874$589$390$254$178
34 years$1,215$828$551$358$230$159
35 years$1,168$786$515$330$208$142
36 years$1,123$746$481$304$188$127
37 years$1,080$708$451$280$171$114
38 years$1,040$673$422$258$155$102
39 years$1,003$640$395$238$140$91
40 years$967$609$371$219$127$82
41 years$932$580$348$203$116$73
42 years$900$552$326$187$105$65
43 years$869$526$306$173$95$58
44 years$840$501$287$159$86$52
45 years$812$478$270$147$78$47
46 years$785$456$253$136$71$42
47 years$760$435$238$126$65$38
48 years$736$415$224$116$59$34
49 years$713$397$210$107$53$30
50 years$690$379$198$99$48$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $707,000, adding $2,990 every year, while hoping to spend $32,708 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: 31/41/28 Blend
63$707,000$707,000$707,000$707,000
64$782,198$744,727$733,769$799,664
65$827,181$746,418$723,549$815,115
66$875,657$747,095$711,890$828,660
67$927,945$746,675$698,711$842,597
68$984,401$745,067$683,923$856,984
69$1,045,413$742,178$667,437$871,887
70$1,111,406$737,906$649,158$887,380
71$1,182,851$732,145$628,986$903,550
72$1,260,263$724,781$606,817$920,494
73$1,344,208$715,694$582,545$938,323
74$1,435,312$704,757$556,054$957,161
75$1,534,258$691,834$527,226$977,152
76$1,641,802$676,784$495,938$998,456
77$1,758,774$659,454$462,060$1,021,253
78$1,886,086$639,685$425,457$1,045,747
79$2,024,744$617,307$385,986$1,072,169
80$2,175,852$592,139$343,501$1,100,775
81$2,340,628$563,993$297,847$1,131,856
82$2,520,411$532,667$248,864$1,165,736
83$2,716,674$497,949$196,382$1,202,777
84$2,931,040$459,613$140,226$1,243,388
85$3,165,295$417,424$80,213$1,288,023
86$3,421,406$371,128$16,150$1,337,190
87$3,701,537$320,462$0$1,391,458
88$4,008,073$265,144$0$1,467,060
89$4,343,639$204,878$0$1,555,266
90$4,711,125$139,351$0$1,652,097
91$5,113,714$68,234$0$1,758,499
92$5,554,911$0$0$1,875,519
93$6,038,579$0$0$2,008,297
94$6,568,968$0$0$2,187,769
95$7,150,762$0$0$2,384,747
96$7,789,119$0$0$2,600,993
97$8,489,721$0$0$2,838,445
98$9,258,828$0$0$3,099,240
99$10,103,333$0$0$3,385,731
100$11,030,831$0$0$3,700,511