Can I retire at age 65 with 704,000?

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 $704,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$58,136$57,618$57,113$56,619$56,138$54,254
2 years$28,780$28,244$27,725$27,221$26,732$24,853
3 years$18,996$18,458$17,940$17,441$16,960$15,144
4 years$14,105$13,568$13,055$12,565$12,096$10,358
5 years$11,171$10,638$10,132$9,651$9,195$7,539
6 years$9,216$8,687$8,188$7,718$7,276$5,703
7 years$7,820$7,295$6,804$6,345$5,917$4,427
8 years$6,773$6,253$5,770$5,323$4,909$3,501
9 years$5,960$5,444$4,970$4,534$4,134$2,806
10 years$5,309$4,799$4,333$3,908$3,522$2,273
11 years$4,777$4,272$3,815$3,401$3,029$1,855
12 years$4,335$3,835$3,385$2,984$2,625$1,524
13 years$3,960$3,465$3,025$2,634$2,289$1,259
14 years$3,639$3,150$2,718$2,338$2,007$1,044
15 years$3,362$2,877$2,454$2,085$1,767$868
16 years$3,119$2,640$2,225$1,867$1,562$724
17 years$2,905$2,431$2,024$1,678$1,385$605
18 years$2,715$2,247$1,848$1,512$1,231$507
19 years$2,545$2,082$1,692$1,366$1,097$425
20 years$2,393$1,935$1,553$1,237$980$357
21 years$2,255$1,802$1,428$1,123$877$300
22 years$2,130$1,682$1,316$1,021$786$252
23 years$2,015$1,573$1,215$930$706$213
24 years$1,911$1,474$1,124$848$634$179
25 years$1,815$1,384$1,041$774$571$151
26 years$1,727$1,300$965$708$514$127
27 years$1,645$1,224$897$648$464$107
28 years$1,569$1,153$833$594$418$91
29 years$1,499$1,088$776$545$378$76
30 years$1,433$1,027$722$500$341$65
31 years$1,372$971$673$459$309$55
32 years$1,314$919$628$422$279$46
33 years$1,261$870$587$388$253$39
34 years$1,210$825$548$357$229$33
35 years$1,163$782$513$329$207$28
36 years$1,118$743$479$303$188$23
37 years$1,076$705$449$279$170$20
38 years$1,036$670$420$257$154$17
39 years$998$637$394$237$140$14
40 years$962$606$369$219$127$12
41 years$929$577$346$202$115$10
42 years$896$550$325$186$104$9
43 years$866$524$305$172$95$7
44 years$836$499$286$159$86$6
45 years$809$476$268$146$78$5
46 years$782$454$252$135$71$4
47 years$757$433$237$125$64$4
48 years$733$414$223$116$58$3
49 years$709$395$209$107$53$3
50 years$687$377$197$99$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $704,000, adding $3,756 every year, while hoping to spend $34,671 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: 54/33/13 Blend
64$704,000$704,000$704,000$704,000
65$779,682$742,370$731,458$818,942
66$822,320$741,857$719,072$845,555
67$868,145$740,156$705,110$870,448
68$917,446$737,173$689,481$896,744
69$970,538$732,808$672,091$924,584
70$1,027,771$726,954$652,844$954,126
71$1,089,526$719,497$631,637$985,544
72$1,156,224$710,318$608,363$1,019,032
73$1,228,324$699,289$582,909$1,054,806
74$1,306,335$686,276$555,158$1,093,105
75$1,390,814$671,137$524,989$1,134,195
76$1,482,374$653,719$492,272$1,178,372
77$1,581,688$633,863$456,876$1,225,962
78$1,689,498$611,400$418,658$1,277,330
79$1,806,619$586,150$377,475$1,332,880
80$1,933,946$557,924$333,173$1,393,058
81$2,072,467$526,521$285,593$1,458,362
82$2,223,267$491,729$234,569$1,529,341
83$2,387,541$453,324$179,927$1,606,604
84$2,566,601$411,068$121,485$1,690,828
85$2,761,894$364,710$59,055$1,782,762
86$2,975,013$313,987$0$1,883,234
87$3,207,709$258,617$0$1,994,212
88$3,461,911$198,305$0$2,124,473
89$3,739,743$132,739$0$2,266,974
90$4,043,542$61,588$0$2,422,989
91$4,375,883$0$0$2,593,931
92$4,739,599$0$0$2,786,985
93$5,137,812$0$0$3,022,899
94$5,573,958$0$0$3,281,354
95$6,051,821$0$0$3,564,600
96$6,575,571$0$0$3,875,116
97$7,149,796$0$0$4,215,632
98$7,779,553$0$0$4,589,158
99$8,470,410$0$0$4,999,003
100$9,228,501$0$0$5,448,819