Can I retire at age 64 with 742,000?

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 $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%15.3%
1 years$61,274$60,728$60,195$59,676$59,168$57,879
2 years$30,333$29,769$29,221$28,690$28,175$26,883
3 years$20,021$19,454$18,908$18,382$17,876$16,620
4 years$14,866$14,301$13,760$13,243$12,749$11,541
5 years$11,774$11,212$10,678$10,172$9,692$8,534
6 years$9,713$9,155$8,630$8,135$7,669$6,562
7 years$8,242$7,689$7,171$6,688$6,237$5,182
8 years$7,139$6,591$6,082$5,610$5,174$4,170
9 years$6,281$5,738$5,238$4,779$4,357$3,404
10 years$5,596$5,058$4,567$4,119$3,713$2,809
11 years$5,035$4,503$4,021$3,585$3,193$2,338
12 years$4,569$4,042$3,568$3,145$2,767$1,959
13 years$4,174$3,652$3,188$2,776$2,413$1,651
14 years$3,836$3,320$2,864$2,464$2,115$1,397
15 years$3,543$3,033$2,586$2,198$1,862$1,187
16 years$3,287$2,783$2,345$1,968$1,646$1,011
17 years$3,062$2,563$2,134$1,768$1,459$864
18 years$2,862$2,368$1,948$1,593$1,298$740
19 years$2,683$2,195$1,783$1,440$1,157$635
20 years$2,522$2,039$1,636$1,304$1,033$545
21 years$2,376$1,900$1,505$1,184$924$469
22 years$2,245$1,773$1,387$1,076$829$404
23 years$2,124$1,658$1,281$980$744$348
24 years$2,014$1,554$1,185$894$669$300
25 years$1,913$1,458$1,097$816$602$259
26 years$1,820$1,370$1,018$746$542$224
27 years$1,734$1,290$945$683$489$194
28 years$1,654$1,215$878$626$441$168
29 years$1,580$1,147$817$574$398$145
30 years$1,510$1,083$761$527$360$125
31 years$1,446$1,024$710$484$325$109
32 years$1,385$969$662$445$294$94
33 years$1,329$917$618$409$266$81
34 years$1,276$869$578$376$241$71
35 years$1,226$825$540$346$218$61
36 years$1,178$783$505$319$198$53
37 years$1,134$743$473$294$179$46
38 years$1,092$706$443$271$163$40
39 years$1,052$672$415$250$147$34
40 years$1,014$639$389$230$134$30
41 years$979$608$365$213$121$26
42 years$945$579$342$196$110$22
43 years$912$552$321$181$100$19
44 years$882$526$301$167$91$17
45 years$852$502$283$154$82$15
46 years$824$479$266$143$75$13
47 years$798$457$250$132$68$11
48 years$772$436$235$122$62$10
49 years$748$416$221$113$56$8
50 years$724$398$207$104$51$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $742,000, adding $4,607 every year, while hoping to spend $29,742 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: 41/30/29 Blend
63$742,000$742,000$742,000$742,000
64$822,436$783,110$771,609$848,986
65$874,679$789,837$765,813$875,381
66$931,255$795,897$758,825$900,822
67$992,572$801,226$750,576$927,799
68$1,059,084$805,755$740,989$956,472
69$1,131,285$809,412$729,987$987,020
70$1,209,723$812,120$717,488$1,019,641
71$1,294,997$813,796$703,407$1,054,554
72$1,387,769$814,354$687,653$1,092,003
73$1,488,764$813,701$670,132$1,132,260
74$1,598,784$811,738$650,748$1,175,626
75$1,718,708$808,361$629,396$1,222,435
76$1,849,505$803,459$605,969$1,273,058
77$1,992,241$796,915$580,356$1,327,906
78$2,148,090$788,605$552,438$1,387,435
79$2,318,344$778,395$522,093$1,452,150
80$2,504,425$766,146$489,193$1,522,611
81$2,707,898$751,709$453,603$1,599,440
82$2,930,489$734,928$415,184$1,683,324
83$3,174,095$715,636$373,789$1,775,024
84$3,440,807$693,656$329,265$1,875,383
85$3,732,927$668,803$281,453$1,985,336
86$4,052,989$640,878$230,185$2,105,916
87$4,403,785$609,672$175,288$2,238,265
88$4,788,391$574,966$116,580$2,383,651
89$5,210,192$536,524$53,870$2,543,471
90$5,672,919$494,101$0$2,719,275
91$6,180,679$447,434$0$2,916,813
92$6,737,998$396,249$0$3,151,992
93$7,349,860$340,252$0$3,410,284
94$8,021,757$279,135$0$3,694,072
95$8,759,738$212,574$0$4,005,987
96$9,570,464$140,223$0$4,348,931
97$10,461,278$61,721$0$4,726,105
98$11,440,265$0$0$5,141,042
99$12,516,336$0$0$5,605,336
100$13,699,304$0$0$6,138,256