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%13.4%
1 years$54,172$53,689$53,219$52,759$52,310$51,571
2 years$26,818$26,318$25,834$25,365$24,910$24,166
3 years$17,701$17,199$16,716$16,252$15,804$15,080
4 years$13,143$12,643$12,165$11,708$11,271$10,572
5 years$10,410$9,913$9,441$8,993$8,568$7,895
6 years$8,588$8,094$7,630$7,192$6,780$6,134
7 years$7,287$6,798$6,340$5,913$5,514$4,896
8 years$6,312$5,827$5,377$4,960$4,574$3,984
9 years$5,553$5,073$4,631$4,225$3,852$3,289
10 years$4,947$4,472$4,038$3,642$3,282$2,746
11 years$4,452$3,981$3,555$3,170$2,823$2,313
12 years$4,039$3,573$3,155$2,780$2,446$1,962
13 years$3,690$3,229$2,818$2,454$2,133$1,674
14 years$3,391$2,935$2,532$2,179$1,870$1,435
15 years$3,133$2,681$2,286$1,943$1,646$1,235
16 years$2,906$2,460$2,073$1,740$1,455$1,067
17 years$2,707$2,266$1,886$1,563$1,290$924
18 years$2,530$2,094$1,722$1,409$1,147$802
19 years$2,372$1,940$1,576$1,273$1,023$698
20 years$2,230$1,803$1,447$1,153$913$608
21 years$2,101$1,679$1,331$1,046$817$531
22 years$1,984$1,568$1,226$951$733$464
23 years$1,878$1,466$1,132$866$658$406
24 years$1,781$1,374$1,047$790$591$355
25 years$1,691$1,289$970$722$532$311
26 years$1,609$1,212$900$660$479$273
27 years$1,533$1,140$835$604$432$240
28 years$1,462$1,074$777$553$390$211
29 years$1,396$1,014$723$507$352$185
30 years$1,335$957$673$466$318$163
31 years$1,278$905$628$428$288$143
32 years$1,225$856$586$393$260$126
33 years$1,175$811$547$361$235$111
34 years$1,128$769$511$333$213$97
35 years$1,084$729$478$306$193$86
36 years$1,042$692$447$282$175$76
37 years$1,003$657$418$260$158$67
38 years$965$625$392$239$144$59
39 years$930$594$367$221$130$52
40 years$897$565$344$204$118$45
41 years$865$538$322$188$107$40
42 years$835$512$302$173$97$35
43 years$807$488$284$160$88$31
44 years$779$465$266$148$80$27
45 years$754$444$250$137$73$24
46 years$729$423$235$126$66$21
47 years$705$404$221$116$60$19
48 years$683$386$207$108$54$17
49 years$661$368$195$99$49$15
50 years$640$352$183$92$45$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $656,000, adding $5,250 every year, while hoping to spend $54,959 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: 78/11/11 Blend
63$656,000$656,000$656,000$656,000
64$728,327$693,559$683,391$783,282
65$744,141$669,068$647,809$795,667
66$759,725$641,534$609,193$801,658
67$774,999$610,751$567,383$806,651
68$789,871$576,500$522,212$810,520
69$804,239$538,550$473,507$813,133
70$817,986$496,654$421,085$814,341
71$830,985$450,554$364,755$813,982
72$843,092$399,977$304,320$811,877
73$854,144$344,633$239,572$807,833
74$863,963$284,216$170,294$801,635
75$872,348$218,404$96,260$793,048
76$879,077$146,855$17,234$781,815
77$883,902$69,209$0$767,652
78$886,546$0$0$758,126
79$886,703$0$0$749,496
80$884,032$0$0$746,802
81$878,156$0$0$741,339
82$868,655$0$0$732,748
83$855,065$0$0$720,627
84$836,869$0$0$704,535
85$813,496$0$0$683,978
86$784,314$0$0$658,414
87$748,623$0$0$627,239
88$705,647$0$0$589,787
89$654,529$0$0$545,319
90$594,319$0$0$493,021
91$523,967$0$0$431,988
92$442,315$0$0$361,223
93$348,078$0$0$279,623
94$239,840$0$0$185,969
95$116,033$0$0$78,914
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0