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%15.4%
1 years$58,466$57,945$57,437$56,941$56,457$55,204
2 years$28,944$28,405$27,882$27,376$26,884$25,629
3 years$19,104$18,563$18,042$17,540$17,056$15,837
4 years$14,185$13,646$13,130$12,636$12,165$10,991
5 years$11,235$10,698$10,189$9,706$9,248$8,123
6 years$9,268$8,736$8,234$7,762$7,317$6,243
7 years$7,864$7,336$6,843$6,382$5,951$4,927
8 years$6,812$6,289$5,803$5,353$4,937$3,963
9 years$5,994$5,475$4,998$4,560$4,158$3,233
10 years$5,339$4,826$4,358$3,931$3,542$2,666
11 years$4,805$4,297$3,836$3,421$3,047$2,218
12 years$4,359$3,856$3,405$3,001$2,640$1,857
13 years$3,983$3,485$3,042$2,649$2,302$1,564
14 years$3,660$3,168$2,733$2,351$2,018$1,323
15 years$3,381$2,894$2,468$2,097$1,777$1,123
16 years$3,137$2,655$2,237$1,878$1,570$956
17 years$2,922$2,445$2,036$1,687$1,392$816
18 years$2,730$2,259$1,858$1,520$1,238$698
19 years$2,560$2,094$1,701$1,374$1,104$599
20 years$2,406$1,946$1,561$1,244$986$514
21 years$2,268$1,813$1,436$1,129$882$442
22 years$2,142$1,692$1,324$1,027$791$380
23 years$2,027$1,582$1,222$935$710$327
24 years$1,922$1,483$1,130$853$638$282
25 years$1,825$1,391$1,047$779$574$244
26 years$1,736$1,308$971$712$517$210
27 years$1,654$1,231$902$652$466$182
28 years$1,578$1,160$838$597$421$157
29 years$1,507$1,094$780$548$380$136
30 years$1,441$1,033$727$503$343$117
31 years$1,380$977$677$462$310$101
32 years$1,322$924$632$424$281$88
33 years$1,268$875$590$390$254$76
34 years$1,217$829$551$359$230$66
35 years$1,169$787$515$330$208$57
36 years$1,124$747$482$304$189$49
37 years$1,082$709$451$280$171$43
38 years$1,042$674$423$258$155$37
39 years$1,004$641$396$238$141$32
40 years$968$610$371$220$128$28
41 years$934$580$348$203$116$24
42 years$901$553$326$187$105$21
43 years$871$527$306$173$95$18
44 years$841$502$288$160$87$16
45 years$813$479$270$147$79$14
46 years$787$457$254$136$71$12
47 years$761$436$238$126$65$10
48 years$737$416$224$116$59$9
49 years$714$397$210$107$53$8
50 years$691$380$198$99$49$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $708,000, adding $6,262 every year, while hoping to spend $57,162 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: 43/29/28 Blend
63$708,000$708,000$708,000$708,000
64$786,675$749,151$738,177$813,851
65$806,096$725,040$702,086$809,813
66$825,582$697,831$662,870$799,551
67$845,080$667,313$620,365$787,339
68$864,528$633,261$574,396$773,030
69$883,856$595,437$524,786$756,469
70$902,988$553,592$471,344$737,486
71$921,834$507,459$413,875$715,903
72$940,294$456,758$352,173$691,527
73$958,257$401,192$286,024$664,153
74$975,597$340,448$215,204$633,563
75$992,172$274,195$139,478$599,520
76$1,007,826$202,083$58,603$561,773
77$1,022,382$123,743$0$520,053
78$1,035,643$38,784$0$482,348
79$1,047,390$0$0$459,294
80$1,057,377$0$0$450,094
81$1,065,332$0$0$452,258
82$1,070,952$0$0$453,266
83$1,073,900$0$0$452,955
84$1,073,799$0$0$451,146
85$1,070,235$0$0$447,640
86$1,062,745$0$0$442,216
87$1,050,816$0$0$434,630
88$1,033,881$0$0$424,611
89$1,011,308$0$0$411,857
90$982,400$0$0$396,037
91$946,383$0$0$376,781
92$902,401$0$0$353,683
93$849,507$0$0$326,290
94$786,653$0$0$294,103
95$712,678$0$0$256,572
96$626,300$0$0$213,084
97$526,100$0$0$162,968
98$410,511$0$0$105,475
99$277,801$0$0$39,784
100$126,056$0$0$0