Can I retire at age 64 with 656,000?

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 $656,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$54,172$53,689$53,219$52,759$52,310$51,743
2 years$26,818$26,318$25,834$25,365$24,910$24,338
3 years$17,701$17,199$16,716$16,252$15,804$15,246
4 years$13,143$12,643$12,165$11,708$11,271$10,732
5 years$10,410$9,913$9,441$8,993$8,568$8,048
6 years$8,588$8,094$7,630$7,192$6,780$6,280
7 years$7,287$6,798$6,340$5,913$5,514$5,035
8 years$6,312$5,827$5,377$4,960$4,574$4,116
9 years$5,553$5,073$4,631$4,225$3,852$3,414
10 years$4,947$4,472$4,038$3,642$3,282$2,864
11 years$4,452$3,981$3,555$3,170$2,823$2,424
12 years$4,039$3,573$3,155$2,780$2,446$2,067
13 years$3,690$3,229$2,818$2,454$2,133$1,773
14 years$3,391$2,935$2,532$2,179$1,870$1,528
15 years$3,133$2,681$2,286$1,943$1,646$1,322
16 years$2,906$2,460$2,073$1,740$1,455$1,148
17 years$2,707$2,266$1,886$1,563$1,290$1,000
18 years$2,530$2,094$1,722$1,409$1,147$873
19 years$2,372$1,940$1,576$1,273$1,023$764
20 years$2,230$1,803$1,447$1,153$913$670
21 years$2,101$1,679$1,331$1,046$817$588
22 years$1,984$1,568$1,226$951$733$517
23 years$1,878$1,466$1,132$866$658$455
24 years$1,781$1,374$1,047$790$591$401
25 years$1,691$1,289$970$722$532$354
26 years$1,609$1,212$900$660$479$312
27 years$1,533$1,140$835$604$432$276
28 years$1,462$1,074$777$553$390$244
29 years$1,396$1,014$723$507$352$216
30 years$1,335$957$673$466$318$191
31 years$1,278$905$628$428$288$169
32 years$1,225$856$586$393$260$150
33 years$1,175$811$547$361$235$132
34 years$1,128$769$511$333$213$117
35 years$1,084$729$478$306$193$104
36 years$1,042$692$447$282$175$92
37 years$1,003$657$418$260$158$82
38 years$965$625$392$239$144$73
39 years$930$594$367$221$130$64
40 years$897$565$344$204$118$57
41 years$865$538$322$188$107$51
42 years$835$512$302$173$97$45
43 years$807$488$284$160$88$40
44 years$779$465$266$148$80$35
45 years$754$444$250$137$73$31
46 years$729$423$235$126$66$28
47 years$705$404$221$116$60$25
48 years$683$386$207$108$54$22
49 years$661$368$195$99$49$20
50 years$640$352$183$92$45$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $656,000, adding $2,828 every year, while hoping to spend $30,897 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: 44/45/11 Blend
63$656,000$656,000$656,000$656,000
64$725,829$691,061$680,893$755,357
65$766,989$692,049$670,829$777,164
66$811,313$692,050$659,392$797,429
67$859,089$690,982$646,504$818,701
68$910,636$688,761$632,082$841,085
69$966,305$685,294$616,040$864,697
70$1,026,479$680,485$598,289$889,669
71$1,091,583$674,231$578,734$916,147
72$1,162,079$666,423$557,277$944,292
73$1,238,479$656,946$533,814$974,287
74$1,321,345$645,678$508,238$1,006,334
75$1,411,295$632,488$480,436$1,040,659
76$1,509,007$617,240$450,291$1,077,512
77$1,615,230$599,788$417,679$1,117,175
78$1,730,784$579,979$382,473$1,159,957
79$1,856,576$557,650$344,537$1,206,207
80$1,993,599$532,627$303,732$1,256,309
81$2,142,950$504,730$259,911$1,310,692
82$2,305,834$473,765$212,921$1,369,832
83$2,483,578$439,528$162,602$1,434,258
84$2,677,641$401,803$108,788$1,504,558
85$2,889,633$360,364$51,304$1,581,384
86$3,121,322$314,968$0$1,665,460
87$3,374,657$265,362$0$1,758,767
88$3,651,784$211,276$0$1,867,521
89$3,955,064$152,427$0$1,986,704
90$4,287,099$88,515$0$2,117,438
91$4,650,753$19,222$0$2,260,960
92$5,049,181$0$0$2,418,642
93$5,485,856$0$0$2,619,626
94$5,964,603$0$0$2,850,490
95$6,489,638$0$0$3,103,758
96$7,065,600$0$0$3,381,678
97$7,697,602$0$0$3,686,728
98$8,391,275$0$0$4,021,637
99$9,152,821$0$0$4,389,411
100$9,989,071$0$0$4,793,361