Can I retire at age 64 with 709,000?

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 $709,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$58,549$58,027$57,518$57,022$56,537$55,486
2 years$28,984$28,445$27,921$27,414$26,922$25,868
3 years$19,131$18,589$18,067$17,565$17,081$16,055
4 years$14,205$13,665$13,148$12,654$12,182$11,193
5 years$11,251$10,713$10,204$9,720$9,261$8,311
6 years$9,281$8,748$8,246$7,773$7,328$6,419
7 years$7,875$7,347$6,852$6,391$5,959$5,092
8 years$6,821$6,298$5,811$5,361$4,944$4,117
9 years$6,002$5,483$5,005$4,566$4,163$3,377
10 years$5,347$4,833$4,364$3,936$3,547$2,800
11 years$4,811$4,303$3,842$3,426$3,051$2,342
12 years$4,365$3,862$3,410$3,005$2,644$1,973
13 years$3,988$3,490$3,046$2,653$2,305$1,671
14 years$3,665$3,172$2,737$2,355$2,021$1,422
15 years$3,386$2,898$2,471$2,100$1,779$1,215
16 years$3,141$2,659$2,240$1,880$1,573$1,041
17 years$2,926$2,449$2,039$1,690$1,394$895
18 years$2,734$2,263$1,861$1,523$1,240$770
19 years$2,563$2,097$1,704$1,376$1,105$665
20 years$2,410$1,949$1,564$1,246$987$575
21 years$2,271$1,815$1,438$1,131$883$497
22 years$2,145$1,694$1,326$1,028$792$431
23 years$2,030$1,585$1,224$936$711$374
24 years$1,925$1,485$1,132$854$639$325
25 years$1,828$1,393$1,048$780$575$282
26 years$1,739$1,310$972$713$518$245
27 years$1,657$1,232$903$653$467$213
28 years$1,580$1,161$839$598$421$186
29 years$1,509$1,096$781$548$380$162
30 years$1,443$1,035$728$503$344$141
31 years$1,382$978$678$462$311$123
32 years$1,324$925$633$425$281$107
33 years$1,270$876$591$391$254$93
34 years$1,219$831$552$359$230$81
35 years$1,171$788$516$331$209$71
36 years$1,126$748$483$305$189$62
37 years$1,084$710$452$281$171$54
38 years$1,043$675$423$259$155$47
39 years$1,005$642$397$239$141$41
40 years$969$611$372$220$128$36
41 years$935$581$348$203$116$31
42 years$903$554$327$187$105$27
43 years$872$527$307$173$95$24
44 years$842$503$288$160$87$21
45 years$814$479$270$148$79$18
46 years$788$457$254$136$71$16
47 years$762$436$239$126$65$14
48 years$738$417$224$116$59$12
49 years$715$398$211$108$53$11
50 years$692$380$198$99$49$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $709,000, adding $4,036 every year, while hoping to spend $55,405 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: 56/28/16 Blend
63$709,000$709,000$709,000$709,000
64$785,481$747,904$736,915$825,949
65$806,650$725,601$702,651$831,606
66$828,121$700,348$665,382$831,417
67$849,866$671,942$624,950$829,953
68$871,854$640,169$581,187$827,104
69$894,046$604,800$533,920$822,750
70$916,400$565,597$482,967$816,765
71$938,866$522,304$428,139$809,012
72$961,386$474,653$369,238$799,344
73$983,896$422,359$306,056$787,604
74$1,006,322$365,124$238,378$773,622
75$1,028,581$302,629$165,978$757,218
76$1,050,579$234,540$88,620$738,195
77$1,072,208$160,502$6,059$716,343
78$1,093,349$80,143$0$691,436
79$1,113,867$0$0$677,239
80$1,133,612$0$0$663,634
81$1,152,413$0$0$674,104
82$1,170,083$0$0$683,841
83$1,186,408$0$0$692,711
84$1,201,154$0$0$700,568
85$1,214,056$0$0$707,249
86$1,224,821$0$0$712,570
87$1,233,123$0$0$716,330
88$1,238,598$0$0$718,301
89$1,240,841$0$0$718,235
90$1,239,405$0$0$715,852
91$1,233,789$0$0$710,843
92$1,223,442$0$0$702,865
93$1,207,750$0$0$691,538
94$1,186,031$0$0$676,441
95$1,157,533$0$0$657,106
96$1,121,419$0$0$633,017
97$1,076,765$0$0$603,601
98$1,022,547$0$0$568,223
99$957,631$0$0$526,184
100$880,763$0$0$476,706