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%15%
1 years$58,796$58,273$57,762$57,263$56,776$55,607
2 years$29,107$28,565$28,040$27,530$27,036$25,864
3 years$19,212$18,668$18,143$17,639$17,153$16,013
4 years$14,265$13,723$13,204$12,708$12,234$11,136
5 years$11,298$10,759$10,247$9,761$9,300$8,247
6 years$9,321$8,785$8,281$7,806$7,359$6,352
7 years$7,909$7,378$6,881$6,418$5,984$5,025
8 years$6,850$6,324$5,836$5,384$4,965$4,051
9 years$6,028$5,506$5,027$4,586$4,181$3,313
10 years$5,370$4,854$4,382$3,953$3,562$2,739
11 years$4,832$4,321$3,858$3,440$3,064$2,284
12 years$4,384$3,878$3,424$3,017$2,655$1,917
13 years$4,005$3,505$3,059$2,664$2,315$1,619
14 years$3,681$3,186$2,749$2,365$2,030$1,373
15 years$3,400$2,910$2,482$2,109$1,787$1,169
16 years$3,154$2,670$2,250$1,888$1,579$998
17 years$2,938$2,459$2,047$1,697$1,400$855
18 years$2,746$2,272$1,869$1,529$1,245$733
19 years$2,574$2,106$1,711$1,382$1,110$630
20 years$2,420$1,957$1,570$1,251$991$543
21 years$2,280$1,823$1,444$1,136$887$468
22 years$2,154$1,701$1,331$1,033$795$404
23 years$2,038$1,591$1,229$940$714$349
24 years$1,933$1,491$1,137$858$642$302
25 years$1,836$1,399$1,053$783$577$261
26 years$1,746$1,315$976$716$520$226
27 years$1,664$1,238$907$656$469$196
28 years$1,587$1,166$843$601$423$170
29 years$1,516$1,100$784$551$382$147
30 years$1,449$1,039$731$505$345$128
31 years$1,387$982$681$464$312$111
32 years$1,329$929$636$427$282$96
33 years$1,275$880$593$392$255$84
34 years$1,224$834$554$361$231$73
35 years$1,176$791$518$332$209$63
36 years$1,131$751$485$306$190$55
37 years$1,088$713$454$282$172$48
38 years$1,048$678$425$260$156$41
39 years$1,010$645$398$240$141$36
40 years$973$613$373$221$128$31
41 years$939$584$350$204$116$27
42 years$906$556$328$188$106$24
43 years$875$530$308$174$96$21
44 years$846$505$289$160$87$18
45 years$818$481$272$148$79$16
46 years$791$459$255$137$72$13
47 years$765$438$240$126$65$12
48 years$741$418$225$117$59$10
49 years$718$400$212$108$54$9
50 years$695$382$199$100$49$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $712,000, adding $3,899 every year, while hoping to spend $58,529 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: 60/17/23 Blend
63$712,000$712,000$712,000$712,000
64$788,646$750,910$739,874$830,923
65$806,813$725,430$702,385$834,601
66$824,872$696,740$661,679$831,901
67$842,750$664,621$617,586$827,669
68$860,363$628,841$569,928$821,767
69$877,621$589,154$518,521$814,047
70$894,418$545,302$463,171$804,348
71$910,638$497,011$403,677$792,495
72$926,149$443,991$339,826$778,301
73$940,805$385,935$271,399$761,561
74$954,442$322,521$198,166$742,056
75$966,876$253,406$119,886$719,545
76$977,905$178,230$36,309$693,770
77$987,298$96,610$0$664,451
78$994,804$8,146$0$644,261
79$1,000,140$0$0$630,246
80$1,002,991$0$0$629,582
81$1,003,010$0$0$628,536
82$999,809$0$0$625,327
83$992,958$0$0$619,671
84$981,979$0$0$611,251
85$966,345$0$0$599,716
86$945,468$0$0$584,676
87$918,700$0$0$565,702
88$885,320$0$0$542,317
89$844,532$0$0$513,991
90$795,455$0$0$480,142
91$737,112$0$0$440,123
92$668,425$0$0$393,218
93$588,199$0$0$338,638
94$495,116$0$0$275,507
95$387,716$0$0$202,861
96$264,387$0$0$119,631
97$123,349$0$0$24,638
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0