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%13.4%
1 years$58,796$58,273$57,762$57,263$56,776$55,974
2 years$29,107$28,565$28,040$27,530$27,036$26,229
3 years$19,212$18,668$18,143$17,639$17,153$16,367
4 years$14,265$13,723$13,204$12,708$12,234$11,474
5 years$11,298$10,759$10,247$9,761$9,300$8,569
6 years$9,321$8,785$8,281$7,806$7,359$6,658
7 years$7,909$7,378$6,881$6,418$5,984$5,314
8 years$6,850$6,324$5,836$5,384$4,965$4,324
9 years$6,028$5,506$5,027$4,586$4,181$3,570
10 years$5,370$4,854$4,382$3,953$3,562$2,980
11 years$4,832$4,321$3,858$3,440$3,064$2,510
12 years$4,384$3,878$3,424$3,017$2,655$2,129
13 years$4,005$3,505$3,059$2,664$2,315$1,817
14 years$3,681$3,186$2,749$2,365$2,030$1,558
15 years$3,400$2,910$2,482$2,109$1,787$1,341
16 years$3,154$2,670$2,250$1,888$1,579$1,158
17 years$2,938$2,459$2,047$1,697$1,400$1,003
18 years$2,746$2,272$1,869$1,529$1,245$870
19 years$2,574$2,106$1,711$1,382$1,110$757
20 years$2,420$1,957$1,570$1,251$991$660
21 years$2,280$1,823$1,444$1,136$887$576
22 years$2,154$1,701$1,331$1,033$795$503
23 years$2,038$1,591$1,229$940$714$440
24 years$1,933$1,491$1,137$858$642$386
25 years$1,836$1,399$1,053$783$577$338
26 years$1,746$1,315$976$716$520$296
27 years$1,664$1,238$907$656$469$260
28 years$1,587$1,166$843$601$423$229
29 years$1,516$1,100$784$551$382$201
30 years$1,449$1,039$731$505$345$177
31 years$1,387$982$681$464$312$155
32 years$1,329$929$636$427$282$137
33 years$1,275$880$593$392$255$120
34 years$1,224$834$554$361$231$106
35 years$1,176$791$518$332$209$93
36 years$1,131$751$485$306$190$82
37 years$1,088$713$454$282$172$72
38 years$1,048$678$425$260$156$64
39 years$1,010$645$398$240$141$56
40 years$973$613$373$221$128$49
41 years$939$584$350$204$116$43
42 years$906$556$328$188$106$38
43 years$875$530$308$174$96$34
44 years$846$505$289$160$87$30
45 years$818$481$272$148$79$26
46 years$791$459$255$137$72$23
47 years$765$438$240$126$65$20
48 years$741$418$225$117$59$18
49 years$718$400$212$108$54$16
50 years$695$382$199$100$49$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $712,000, adding $4,804 every year, while hoping to spend $45,011 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: 78/10/12 Blend
63$712,000$712,000$712,000$712,000
64$789,579$751,843$740,807$848,996
65$822,225$740,792$717,733$877,712
66$856,692$727,691$692,377$902,953
67$893,119$712,392$664,616$929,353
68$931,656$694,738$634,319$957,011
69$972,468$674,563$601,352$986,033
70$1,015,735$651,692$565,573$1,016,538
71$1,061,653$625,939$526,833$1,048,658
72$1,110,439$597,107$484,979$1,082,537
73$1,162,326$564,987$439,848$1,118,336
74$1,217,572$529,360$391,271$1,156,233
75$1,276,459$489,994$339,074$1,196,423
76$1,339,295$446,641$283,070$1,239,123
77$1,406,418$399,042$223,068$1,284,573
78$1,478,200$346,921$158,868$1,333,038
79$1,555,045$289,990$90,259$1,384,810
80$1,637,400$227,939$17,023$1,440,213
81$1,725,753$160,446$0$1,499,605
82$1,820,640$87,168$0$1,571,209
83$1,922,649$7,744$0$1,650,470
84$2,032,427$0$0$1,735,721
85$2,150,683$0$0$1,836,135
86$2,278,196$0$0$1,945,346
87$2,415,822$0$0$2,063,237
88$2,564,501$0$0$2,190,617
89$2,725,266$0$0$2,328,372
90$2,899,255$0$0$2,477,479
91$3,087,714$0$0$2,639,011
92$3,292,017$0$0$2,814,147
93$3,513,674$0$0$3,004,185
94$3,754,344$0$0$3,210,551
95$4,015,855$0$0$3,434,815
96$4,300,215$0$0$3,678,702
97$4,609,634$0$0$3,944,112
98$4,946,544$0$0$4,233,135
99$5,313,620$0$0$4,548,069
100$5,713,808$0$0$4,891,447