Can I retire at age 64 with 712,000?

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 $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%17%
1 years$58,796$58,273$57,762$57,263$56,776$55,157
2 years$29,107$28,565$28,040$27,530$27,036$25,418
3 years$19,212$18,668$18,143$17,639$17,153$15,586
4 years$14,265$13,723$13,204$12,708$12,234$10,730
5 years$11,298$10,759$10,247$9,761$9,300$7,863
6 years$9,321$8,785$8,281$7,806$7,359$5,991
7 years$7,909$7,378$6,881$6,418$5,984$4,685
8 years$6,850$6,324$5,836$5,384$4,965$3,734
9 years$6,028$5,506$5,027$4,586$4,181$3,017
10 years$5,370$4,854$4,382$3,953$3,562$2,463
11 years$4,832$4,321$3,858$3,440$3,064$2,028
12 years$4,384$3,878$3,424$3,017$2,655$1,680
13 years$4,005$3,505$3,059$2,664$2,315$1,400
14 years$3,681$3,186$2,749$2,365$2,030$1,171
15 years$3,400$2,910$2,482$2,109$1,787$983
16 years$3,154$2,670$2,250$1,888$1,579$828
17 years$2,938$2,459$2,047$1,697$1,400$698
18 years$2,746$2,272$1,869$1,529$1,245$591
19 years$2,574$2,106$1,711$1,382$1,110$500
20 years$2,420$1,957$1,570$1,251$991$424
21 years$2,280$1,823$1,444$1,136$887$360
22 years$2,154$1,701$1,331$1,033$795$306
23 years$2,038$1,591$1,229$940$714$260
24 years$1,933$1,491$1,137$858$642$222
25 years$1,836$1,399$1,053$783$577$189
26 years$1,746$1,315$976$716$520$161
27 years$1,664$1,238$907$656$469$137
28 years$1,587$1,166$843$601$423$117
29 years$1,516$1,100$784$551$382$100
30 years$1,449$1,039$731$505$345$85
31 years$1,387$982$681$464$312$73
32 years$1,329$929$636$427$282$62
33 years$1,275$880$593$392$255$53
34 years$1,224$834$554$361$231$45
35 years$1,176$791$518$332$209$39
36 years$1,131$751$485$306$190$33
37 years$1,088$713$454$282$172$28
38 years$1,048$678$425$260$156$24
39 years$1,010$645$398$240$141$21
40 years$973$613$373$221$128$18
41 years$939$584$350$204$116$15
42 years$906$556$328$188$106$13
43 years$875$530$308$174$96$11
44 years$846$505$289$160$87$9
45 years$818$481$272$148$79$8
46 years$791$459$255$137$72$7
47 years$765$438$240$126$65$6
48 years$741$418$225$117$59$5
49 years$718$400$212$108$54$4
50 years$695$382$199$100$49$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $712,000, adding $2,077 every year, while hoping to spend $57,730 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: 28/45/27 Blend
63$712,000$712,000$712,000$712,000
64$786,766$749,030$737,994$802,150
65$805,592$724,309$701,293$789,840
66$824,404$696,441$661,427$771,480
67$843,138$665,211$618,230$750,584
68$861,724$630,393$571,527$726,974
69$880,083$591,745$521,136$700,460
70$898,124$549,013$466,867$670,842
71$915,745$501,928$408,520$637,906
72$932,834$450,205$345,887$601,425
73$949,261$393,543$278,753$561,157
74$964,885$331,625$206,890$516,844
75$979,544$264,116$130,062$468,214
76$993,060$190,660$48,021$414,974
77$1,005,233$110,883$0$356,814
78$1,015,840$24,390$0$304,793
79$1,024,634$0$0$262,675
80$1,031,337$0$0$250,600
81$1,035,644$0$0$249,799
82$1,037,212$0$0$248,085
83$1,035,661$0$0$245,340
84$1,030,571$0$0$241,432
85$1,021,474$0$0$236,213
86$1,007,851$0$0$229,522
87$989,128$0$0$221,178
88$964,666$0$0$210,984
89$933,761$0$0$198,718
90$895,631$0$0$184,136
91$849,410$0$0$166,969
92$794,141$0$0$146,919
93$728,765$0$0$123,655
94$652,109$0$0$96,814
95$562,878$0$0$65,993
96$459,640$0$0$30,745
97$340,811$0$0$0
98$204,641$0$0$0
99$49,197$0$0$0
100$0$0$0$0