Can I retire at age 64 with 712,000?

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 $712,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$58,796$58,273$57,762$57,263$56,776$55,698
2 years$29,107$28,565$28,040$27,530$27,036$25,954
3 years$19,212$18,668$18,143$17,639$17,153$16,101
4 years$14,265$13,723$13,204$12,708$12,234$11,220
5 years$11,298$10,759$10,247$9,761$9,300$8,327
6 years$9,321$8,785$8,281$7,806$7,359$6,427
7 years$7,909$7,378$6,881$6,418$5,984$5,095
8 years$6,850$6,324$5,836$5,384$4,965$4,118
9 years$6,028$5,506$5,027$4,586$4,181$3,375
10 years$5,370$4,854$4,382$3,953$3,562$2,797
11 years$4,832$4,321$3,858$3,440$3,064$2,338
12 years$4,384$3,878$3,424$3,017$2,655$1,968
13 years$4,005$3,505$3,059$2,664$2,315$1,666
14 years$3,681$3,186$2,749$2,365$2,030$1,417
15 years$3,400$2,910$2,482$2,109$1,787$1,210
16 years$3,154$2,670$2,250$1,888$1,579$1,036
17 years$2,938$2,459$2,047$1,697$1,400$889
18 years$2,746$2,272$1,869$1,529$1,245$765
19 years$2,574$2,106$1,711$1,382$1,110$660
20 years$2,420$1,957$1,570$1,251$991$570
21 years$2,280$1,823$1,444$1,136$887$493
22 years$2,154$1,701$1,331$1,033$795$427
23 years$2,038$1,591$1,229$940$714$370
24 years$1,933$1,491$1,137$858$642$321
25 years$1,836$1,399$1,053$783$577$279
26 years$1,746$1,315$976$716$520$242
27 years$1,664$1,238$907$656$469$211
28 years$1,587$1,166$843$601$423$183
29 years$1,516$1,100$784$551$382$159
30 years$1,449$1,039$731$505$345$139
31 years$1,387$982$681$464$312$121
32 years$1,329$929$636$427$282$105
33 years$1,275$880$593$392$255$92
34 years$1,224$834$554$361$231$80
35 years$1,176$791$518$332$209$70
36 years$1,131$751$485$306$190$61
37 years$1,088$713$454$282$172$53
38 years$1,048$678$425$260$156$46
39 years$1,010$645$398$240$141$40
40 years$973$613$373$221$128$35
41 years$939$584$350$204$116$31
42 years$906$556$328$188$106$27
43 years$875$530$308$174$96$23
44 years$846$505$289$160$87$20
45 years$818$481$272$148$79$18
46 years$791$459$255$137$72$15
47 years$765$438$240$126$65$13
48 years$741$418$225$117$59$12
49 years$718$400$212$108$54$10
50 years$695$382$199$100$49$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $712,000, adding $3,289 every year, while hoping to spend $27,777 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: 53/23/24 Blend
63$712,000$712,000$712,000$712,000
64$788,017$750,281$739,245$824,382
65$838,840$757,490$734,455$857,035
66$893,916$764,121$728,574$889,412
67$953,650$770,118$721,535$924,072
68$1,018,486$775,417$713,270$961,241
69$1,088,913$779,954$703,707$1,001,172
70$1,165,470$783,660$692,769$1,044,145
71$1,248,749$786,460$680,377$1,090,466
72$1,339,401$788,276$666,450$1,140,478
73$1,438,143$789,025$650,898$1,194,558
74$1,545,763$788,617$633,633$1,253,121
75$1,663,130$786,958$614,559$1,316,629
76$1,791,198$783,948$593,576$1,385,591
77$1,931,021$779,482$570,581$1,460,570
78$2,083,754$773,446$545,465$1,542,189
79$2,250,673$765,721$518,114$1,631,134
80$2,433,181$756,180$488,409$1,728,165
81$2,632,821$744,689$456,228$1,834,121
82$2,851,296$731,106$421,439$1,949,930
83$3,090,479$715,280$383,907$2,076,615
84$3,352,431$697,052$343,491$2,215,307
85$3,639,423$676,253$300,043$2,367,256
86$3,953,958$652,703$253,408$2,533,841
87$4,298,790$626,213$203,425$2,716,586
88$4,676,953$596,584$149,926$2,917,172
89$5,091,789$563,603$92,735$3,137,457
90$5,546,978$527,046$31,668$3,379,492
91$6,046,575$486,677$0$3,645,539
92$6,595,046$442,244$0$3,946,676
93$7,197,309$393,483$0$4,286,294
94$7,858,786$340,114$0$4,659,372
95$8,585,444$281,842$0$5,069,325
96$9,383,861$218,354$0$5,519,919
97$10,261,282$149,320$0$6,015,304
98$11,225,688$74,392$0$6,560,058
99$12,285,872$0$0$7,159,228
100$13,451,523$0$0$7,820,099