Can I retire at age 64 with 742,000?

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 $742,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$61,274$60,728$60,195$59,676$59,168$58,845
2 years$30,333$29,769$29,221$28,690$28,175$27,849
3 years$20,021$19,454$18,908$18,382$17,876$17,556
4 years$14,866$14,301$13,760$13,243$12,749$12,439
5 years$11,774$11,212$10,678$10,172$9,692$9,392
6 years$9,713$9,155$8,630$8,135$7,669$7,380
7 years$8,242$7,689$7,171$6,688$6,237$5,960
8 years$7,139$6,591$6,082$5,610$5,174$4,908
9 years$6,281$5,738$5,238$4,779$4,357$4,102
10 years$5,596$5,058$4,567$4,119$3,713$3,468
11 years$5,035$4,503$4,021$3,585$3,193$2,960
12 years$4,569$4,042$3,568$3,145$2,767$2,544
13 years$4,174$3,652$3,188$2,776$2,413$2,200
14 years$3,836$3,320$2,864$2,464$2,115$1,913
15 years$3,543$3,033$2,586$2,198$1,862$1,670
16 years$3,287$2,783$2,345$1,968$1,646$1,463
17 years$3,062$2,563$2,134$1,768$1,459$1,286
18 years$2,862$2,368$1,948$1,593$1,298$1,133
19 years$2,683$2,195$1,783$1,440$1,157$1,001
20 years$2,522$2,039$1,636$1,304$1,033$885
21 years$2,376$1,900$1,505$1,184$924$785
22 years$2,245$1,773$1,387$1,076$829$697
23 years$2,124$1,658$1,281$980$744$620
24 years$2,014$1,554$1,185$894$669$551
25 years$1,913$1,458$1,097$816$602$491
26 years$1,820$1,370$1,018$746$542$438
27 years$1,734$1,290$945$683$489$391
28 years$1,654$1,215$878$626$441$349
29 years$1,580$1,147$817$574$398$312
30 years$1,510$1,083$761$527$360$279
31 years$1,446$1,024$710$484$325$250
32 years$1,385$969$662$445$294$224
33 years$1,329$917$618$409$266$200
34 years$1,276$869$578$376$241$179
35 years$1,226$825$540$346$218$161
36 years$1,178$783$505$319$198$144
37 years$1,134$743$473$294$179$129
38 years$1,092$706$443$271$163$116
39 years$1,052$672$415$250$147$104
40 years$1,014$639$389$230$134$93
41 years$979$608$365$213$121$84
42 years$945$579$342$196$110$75
43 years$912$552$321$181$100$67
44 years$882$526$301$167$91$60
45 years$852$502$283$154$82$54
46 years$824$479$266$143$75$49
47 years$798$457$250$132$68$44
48 years$772$436$235$122$62$39
49 years$748$416$221$113$56$35
50 years$724$398$207$104$51$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $742,000, adding $3,285 every year, while hoping to spend $53,156 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: 47/27/26 Blend
63$742,000$742,000$742,000$742,000
64$821,072$781,746$770,245$853,416
65$848,264$763,494$739,491$858,255
66$876,448$742,567$705,925$858,031
67$905,669$718,776$669,397$856,740
68$935,975$691,923$629,749$854,310
69$967,417$661,800$586,818$850,663
70$1,000,049$628,183$540,432$845,720
71$1,033,929$590,839$490,411$839,395
72$1,069,118$549,520$436,569$831,601
73$1,105,684$503,962$378,710$822,243
74$1,143,696$453,888$316,629$811,227
75$1,183,230$399,006$250,113$798,450
76$1,224,368$339,005$178,940$783,807
77$1,267,195$273,558$102,876$767,189
78$1,311,806$202,319$21,680$748,480
79$1,358,301$124,924$0$727,562
80$1,406,788$40,986$0$722,334
81$1,457,384$0$0$722,233
82$1,510,215$0$0$736,009
83$1,565,416$0$0$763,144
84$1,623,134$0$0$791,538
85$1,683,528$0$0$821,270
86$1,746,769$0$0$852,428
87$1,813,043$0$0$885,107
88$1,882,553$0$0$919,410
89$1,955,517$0$0$955,448
90$2,032,173$0$0$993,344
91$2,112,780$0$0$1,033,228
92$2,197,619$0$0$1,075,246
93$2,286,994$0$0$1,119,553
94$2,381,241$0$0$1,166,321
95$2,480,722$0$0$1,215,735
96$2,585,832$0$0$1,267,998
97$2,697,004$0$0$1,323,332
98$2,814,709$0$0$1,381,979
99$2,939,462$0$0$1,444,204
100$3,071,826$0$0$1,510,295