Can I retire at age 64 with 711,000?

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 $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%11.4%
1 years$58,714$58,191$57,680$57,182$56,696$56,362
2 years$29,066$28,525$28,000$27,492$26,998$26,662
3 years$19,185$18,641$18,118$17,614$17,129$16,800
4 years$14,245$13,703$13,185$12,690$12,216$11,897
5 years$11,282$10,744$10,232$9,747$9,287$8,978
6 years$9,308$8,773$8,269$7,795$7,348$7,051
7 years$7,898$7,368$6,872$6,409$5,976$5,691
8 years$6,841$6,315$5,828$5,376$4,958$4,684
9 years$6,019$5,499$5,019$4,579$4,175$3,913
10 years$5,362$4,847$4,376$3,947$3,557$3,306
11 years$4,825$4,315$3,853$3,435$3,060$2,819
12 years$4,378$3,873$3,419$3,013$2,651$2,422
13 years$3,999$3,500$3,055$2,660$2,312$2,093
14 years$3,676$3,181$2,745$2,361$2,027$1,819
15 years$3,395$2,906$2,478$2,106$1,784$1,587
16 years$3,150$2,666$2,247$1,886$1,577$1,389
17 years$2,934$2,456$2,044$1,694$1,398$1,220
18 years$2,742$2,269$1,866$1,527$1,243$1,074
19 years$2,571$2,103$1,709$1,380$1,108$948
20 years$2,416$1,954$1,568$1,250$990$838
21 years$2,277$1,820$1,442$1,134$886$743
22 years$2,151$1,699$1,329$1,031$794$659
23 years$2,035$1,589$1,227$939$713$585
24 years$1,930$1,489$1,135$856$641$521
25 years$1,833$1,397$1,051$782$576$463
26 years$1,744$1,313$975$715$519$413
27 years$1,661$1,236$905$655$468$368
28 years$1,585$1,165$842$600$422$329
29 years$1,514$1,099$783$550$381$294
30 years$1,447$1,038$730$505$345$262
31 years$1,385$981$680$464$312$234
32 years$1,328$928$635$426$282$210
33 years$1,273$879$593$392$255$188
34 years$1,222$833$554$360$231$168
35 years$1,174$790$518$332$209$150
36 years$1,129$750$484$306$190$135
37 years$1,087$712$453$282$172$121
38 years$1,046$677$424$260$156$108
39 years$1,008$644$398$239$141$97
40 years$972$612$373$221$128$87
41 years$938$583$349$204$116$78
42 years$905$555$328$188$105$70
43 years$874$529$308$173$96$63
44 years$845$504$289$160$87$56
45 years$817$481$271$148$79$50
46 years$790$459$255$137$72$45
47 years$764$438$239$126$65$40
48 years$740$418$225$117$59$36
49 years$717$399$211$108$54$33
50 years$694$381$199$100$49$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $711,000, adding $4,573 every year, while hoping to spend $23,504 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: 64/31/5 Blend
63$711,000$711,000$711,000$711,000
64$788,239$750,556$739,536$837,831
65$843,631$762,325$739,302$883,155
66$903,886$773,883$738,273$929,421
67$969,474$785,195$736,396$979,327
68$1,040,914$796,223$733,619$1,033,224
69$1,118,776$806,927$729,884$1,091,497
70$1,203,688$817,264$725,132$1,154,573
71$1,296,341$827,187$719,302$1,222,921
72$1,397,496$836,647$712,327$1,297,057
73$1,507,991$845,592$704,139$1,377,553
74$1,628,746$853,966$694,668$1,465,036
75$1,760,776$861,709$683,838$1,560,198
76$1,905,200$868,757$671,570$1,663,803
77$2,063,246$875,043$657,784$1,776,693
78$2,236,271$880,493$642,394$1,899,795
79$2,425,765$885,032$625,308$2,034,131
80$2,633,372$888,577$606,435$2,180,829
81$2,860,900$891,041$585,674$2,341,132
82$3,110,341$892,332$562,924$2,516,409
83$3,383,892$892,352$538,078$2,708,170
84$3,683,967$890,996$511,022$2,918,082
85$4,013,231$888,154$481,640$3,147,979
86$4,374,614$883,707$449,809$3,399,885
87$4,771,348$877,532$415,401$3,676,031
88$5,206,990$869,495$378,281$3,978,877
89$5,685,460$859,457$338,310$4,311,135
90$6,211,075$847,269$295,342$4,675,793
91$6,788,593$832,774$249,224$5,076,148
92$7,423,253$815,803$199,797$5,515,834
93$8,120,829$796,182$146,894$5,998,855
94$8,887,680$773,721$90,341$6,529,627
95$9,730,813$748,223$29,958$7,113,020
96$10,657,949$719,479$0$7,754,399
97$11,677,592$687,266$0$8,461,520
98$12,799,114$651,349$0$9,240,891
99$14,032,838$611,480$0$10,098,115
100$15,390,141$567,396$0$11,041,127