Can I retire at age 64 with 711,000?

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 $711,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$58,714$58,191$57,680$57,182$56,696$54,815
2 years$29,066$28,525$28,000$27,492$26,998$25,122
3 years$19,185$18,641$18,118$17,614$17,129$15,315
4 years$14,245$13,703$13,185$12,690$12,216$10,480
5 years$11,282$10,744$10,232$9,747$9,287$7,632
6 years$9,308$8,773$8,269$7,795$7,348$5,776
7 years$7,898$7,368$6,872$6,409$5,976$4,487
8 years$6,841$6,315$5,828$5,376$4,958$3,550
9 years$6,019$5,499$5,019$4,579$4,175$2,847
10 years$5,362$4,847$4,376$3,947$3,557$2,308
11 years$4,825$4,315$3,853$3,435$3,060$1,885
12 years$4,378$3,873$3,419$3,013$2,651$1,550
13 years$3,999$3,500$3,055$2,660$2,312$1,281
14 years$3,676$3,181$2,745$2,361$2,027$1,062
15 years$3,395$2,906$2,478$2,106$1,784$884
16 years$3,150$2,666$2,247$1,886$1,577$738
17 years$2,934$2,456$2,044$1,694$1,398$617
18 years$2,742$2,269$1,866$1,527$1,243$517
19 years$2,571$2,103$1,709$1,380$1,108$434
20 years$2,416$1,954$1,568$1,250$990$365
21 years$2,277$1,820$1,442$1,134$886$307
22 years$2,151$1,699$1,329$1,031$794$259
23 years$2,035$1,589$1,227$939$713$218
24 years$1,930$1,489$1,135$856$641$184
25 years$1,833$1,397$1,051$782$576$155
26 years$1,744$1,313$975$715$519$131
27 years$1,661$1,236$905$655$468$110
28 years$1,585$1,165$842$600$422$93
29 years$1,514$1,099$783$550$381$79
30 years$1,447$1,038$730$505$345$67
31 years$1,385$981$680$464$312$56
32 years$1,328$928$635$426$282$48
33 years$1,273$879$593$392$255$40
34 years$1,222$833$554$360$231$34
35 years$1,174$790$518$332$209$29
36 years$1,129$750$484$306$190$24
37 years$1,087$712$453$282$172$21
38 years$1,046$677$424$260$156$17
39 years$1,008$644$398$239$141$15
40 years$972$612$373$221$128$12
41 years$938$583$349$204$116$11
42 years$905$555$328$188$105$9
43 years$874$529$308$173$96$8
44 years$845$504$289$160$87$6
45 years$817$481$271$148$79$5
46 years$790$459$255$137$72$5
47 years$764$438$239$126$65$4
48 years$740$418$225$117$59$3
49 years$717$399$211$108$54$3
50 years$694$381$199$100$49$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $711,000, adding $3,399 every year, while hoping to spend $52,011 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: 56/27/17 Blend
63$711,000$711,000$711,000$711,000
64$787,028$749,345$738,325$827,381
65$811,966$730,724$707,719$836,594
66$837,704$709,447$674,345$840,720
67$864,269$685,329$638,055$844,044
68$891,689$658,175$598,695$846,500
69$919,993$627,777$556,103$848,020
70$949,210$593,916$510,110$848,529
71$979,372$556,360$460,541$847,952
72$1,010,511$514,865$407,212$846,205
73$1,042,660$469,170$349,931$843,204
74$1,075,854$419,002$288,496$838,856
75$1,110,129$364,072$222,699$833,065
76$1,145,524$304,073$152,321$825,729
77$1,182,077$238,682$77,133$816,743
78$1,219,829$167,557$0$805,991
79$1,258,823$90,339$0$793,919
80$1,299,103$6,646$0$794,804
81$1,340,717$0$0$794,556
82$1,383,711$0$0$818,018
83$1,428,138$0$0$844,303
84$1,474,050$0$0$871,470
85$1,521,502$0$0$899,551
86$1,570,553$0$0$928,580
87$1,621,264$0$0$958,595
88$1,673,698$0$0$989,633
89$1,727,924$0$0$1,021,734
90$1,784,011$0$0$1,054,941
91$1,842,034$0$0$1,089,299
92$1,902,071$0$0$1,124,854
93$1,964,204$0$0$1,161,656
94$2,028,520$0$0$1,199,757
95$2,095,112$0$0$1,239,211
96$2,164,077$0$0$1,280,078
97$2,235,516$0$0$1,322,419
98$2,309,540$0$0$1,366,300
99$2,386,263$0$0$1,411,790
100$2,465,808$0$0$1,458,963