Can I retire at age 64 with 708,000?

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 $708,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$58,466$57,945$57,437$56,941$56,457$54,914
2 years$28,944$28,405$27,882$27,376$26,884$25,341
3 years$19,104$18,563$18,042$17,540$17,056$15,561
4 years$14,185$13,646$13,130$12,636$12,165$10,729
5 years$11,235$10,698$10,189$9,706$9,248$7,875
6 years$9,268$8,736$8,234$7,762$7,317$6,010
7 years$7,864$7,336$6,843$6,382$5,951$4,708
8 years$6,812$6,289$5,803$5,353$4,937$3,758
9 years$5,994$5,475$4,998$4,560$4,158$3,042
10 years$5,339$4,826$4,358$3,931$3,542$2,489
11 years$4,805$4,297$3,836$3,421$3,047$2,053
12 years$4,359$3,856$3,405$3,001$2,640$1,704
13 years$3,983$3,485$3,042$2,649$2,302$1,423
14 years$3,660$3,168$2,733$2,351$2,018$1,193
15 years$3,381$2,894$2,468$2,097$1,777$1,003
16 years$3,137$2,655$2,237$1,878$1,570$846
17 years$2,922$2,445$2,036$1,687$1,392$716
18 years$2,730$2,259$1,858$1,520$1,238$607
19 years$2,560$2,094$1,701$1,374$1,104$515
20 years$2,406$1,946$1,561$1,244$986$438
21 years$2,268$1,813$1,436$1,129$882$373
22 years$2,142$1,692$1,324$1,027$791$317
23 years$2,027$1,582$1,222$935$710$271
24 years$1,922$1,483$1,130$853$638$231
25 years$1,825$1,391$1,047$779$574$197
26 years$1,736$1,308$971$712$517$168
27 years$1,654$1,231$902$652$466$144
28 years$1,578$1,160$838$597$421$123
29 years$1,507$1,094$780$548$380$105
30 years$1,441$1,033$727$503$343$90
31 years$1,380$977$677$462$310$77
32 years$1,322$924$632$424$281$66
33 years$1,268$875$590$390$254$56
34 years$1,217$829$551$359$230$48
35 years$1,169$787$515$330$208$41
36 years$1,124$747$482$304$189$35
37 years$1,082$709$451$280$171$30
38 years$1,042$674$423$258$155$26
39 years$1,004$641$396$238$141$22
40 years$968$610$371$220$128$19
41 years$934$580$348$203$116$16
42 years$901$553$326$187$105$14
43 years$871$527$306$173$95$12
44 years$841$502$288$160$87$10
45 years$813$479$270$147$79$9
46 years$787$457$254$136$71$8
47 years$761$436$238$126$65$6
48 years$737$416$224$116$59$6
49 years$714$397$210$107$53$5
50 years$691$380$198$99$49$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $708,000, adding $4,229 every year, while hoping to spend $34,378 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: 44/35/21 Blend
63$708,000$708,000$708,000$708,000
64$784,578$747,054$736,080$814,161
65$828,027$747,082$724,161$835,480
66$874,756$745,959$710,690$854,881
67$925,062$743,592$695,580$875,207
68$979,274$739,884$678,737$896,561
69$1,037,751$734,729$660,066$919,058
70$1,100,888$728,017$639,464$942,826
71$1,169,120$719,631$616,827$968,011
72$1,242,923$709,446$592,044$994,775
73$1,322,823$697,330$564,999$1,023,297
74$1,409,396$683,144$535,572$1,053,782
75$1,503,276$666,740$503,635$1,086,453
76$1,605,160$647,961$469,057$1,121,564
77$1,715,817$626,641$431,701$1,159,396
78$1,836,088$602,605$391,421$1,200,262
79$1,966,903$575,666$348,067$1,244,510
80$2,109,282$545,629$301,483$1,292,532
81$2,264,350$512,285$251,503$1,344,758
82$2,433,341$475,415$197,956$1,401,671
83$2,617,618$434,786$140,664$1,463,806
84$2,818,677$390,153$79,438$1,531,760
85$3,038,167$341,256$14,084$1,606,193
86$3,277,903$287,820$0$1,687,841
87$3,539,882$229,556$0$1,789,991
88$3,826,303$166,157$0$1,905,257
89$4,139,588$97,301$0$2,031,534
90$4,482,402$22,645$0$2,169,989
91$4,857,681$0$0$2,321,912
92$5,268,659$0$0$2,511,136
93$5,718,894$0$0$2,728,075
94$6,212,307$0$0$2,965,907
95$6,753,216$0$0$3,226,724
96$7,346,377$0$0$3,512,831
97$7,997,026$0$0$3,826,765
98$8,710,933$0$0$4,171,323
99$9,494,452$0$0$4,549,584
100$10,354,582$0$0$4,964,941