Can I retire at age 64 with 692,000?

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 $692,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$57,145$56,636$56,139$55,654$55,181$54,312
2 years$28,289$27,763$27,252$26,757$26,277$25,403
3 years$18,672$18,143$17,634$17,143$16,671$15,820
4 years$13,865$13,337$12,833$12,351$11,890$11,069
5 years$10,981$10,456$9,959$9,487$9,039$8,249
6 years$9,059$8,539$8,048$7,587$7,152$6,395
7 years$7,687$7,171$6,688$6,237$5,816$5,093
8 years$6,658$6,147$5,672$5,232$4,825$4,135
9 years$5,858$5,352$4,885$4,457$4,064$3,405
10 years$5,219$4,717$4,259$3,842$3,462$2,836
11 years$4,696$4,199$3,750$3,344$2,978$2,383
12 years$4,261$3,769$3,328$2,933$2,580$2,016
13 years$3,893$3,406$2,973$2,589$2,250$1,716
14 years$3,577$3,096$2,671$2,298$1,973$1,467
15 years$3,304$2,828$2,412$2,050$1,737$1,259
16 years$3,066$2,595$2,187$1,835$1,535$1,084
17 years$2,856$2,390$1,990$1,649$1,361$936
18 years$2,669$2,208$1,816$1,486$1,210$811
19 years$2,502$2,047$1,663$1,343$1,079$703
20 years$2,352$1,902$1,526$1,216$963$611
21 years$2,216$1,772$1,404$1,104$862$532
22 years$2,093$1,654$1,294$1,004$773$463
23 years$1,981$1,547$1,195$914$694$404
24 years$1,878$1,449$1,105$834$624$353
25 years$1,784$1,360$1,023$761$561$308
26 years$1,697$1,278$949$696$505$269
27 years$1,617$1,203$881$637$456$236
28 years$1,542$1,133$819$584$411$206
29 years$1,473$1,069$762$535$371$181
30 years$1,409$1,010$710$491$335$158
31 years$1,348$955$662$451$303$139
32 years$1,292$903$618$415$274$122
33 years$1,239$855$577$381$248$107
34 years$1,190$811$539$351$225$94
35 years$1,143$769$504$323$204$82
36 years$1,099$730$471$297$184$72
37 years$1,058$693$441$274$167$63
38 years$1,018$659$413$253$152$56
39 years$981$626$387$233$137$49
40 years$946$596$363$215$125$43
41 years$913$567$340$198$113$38
42 years$881$540$319$183$103$33
43 years$851$515$299$169$93$29
44 years$822$491$281$156$85$25
45 years$795$468$264$144$77$22
46 years$769$446$248$133$70$20
47 years$744$426$233$123$63$17
48 years$720$407$219$114$57$15
49 years$697$388$206$105$52$13
50 years$676$371$193$97$47$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $692,000, adding $6,271 every year, while hoping to spend $37,728 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: 47/36/17 Blend
63$692,000$692,000$692,000$692,000
64$769,053$732,377$721,651$801,227
65$807,354$728,121$705,684$819,974
66$848,297$722,392$687,917$835,986
67$892,112$715,078$668,251$852,555
68$939,051$706,060$646,581$869,750
69$989,390$695,213$622,797$887,646
70$1,043,432$682,403$596,785$906,331
71$1,101,510$667,488$568,425$925,902
72$1,163,988$650,319$537,592$946,470
73$1,231,268$630,739$504,155$968,160
74$1,303,791$608,578$467,977$991,112
75$1,382,039$583,659$428,915$1,015,486
76$1,466,544$555,796$386,821$1,041,459
77$1,557,889$524,788$341,538$1,069,232
78$1,656,718$490,426$292,903$1,099,029
79$1,763,735$452,489$240,747$1,131,101
80$1,879,715$410,740$184,892$1,165,732
81$2,005,512$364,932$125,151$1,203,236
82$2,142,063$314,803$61,333$1,243,966
83$2,290,400$260,075$0$1,288,316
84$2,451,658$200,455$0$1,337,955
85$2,627,084$135,635$0$1,404,099
86$2,818,053$65,287$0$1,476,198
87$3,026,075$0$0$1,554,904
88$3,252,814$0$0$1,645,272
89$3,500,100$0$0$1,772,107
90$3,769,947$0$0$1,910,588
91$4,064,573$0$0$2,061,863
92$4,386,418$0$0$2,227,195
93$4,738,170$0$0$2,407,973
94$5,122,788$0$0$2,605,729
95$5,543,528$0$0$2,822,149
96$6,003,978$0$0$3,059,089
97$6,508,087$0$0$3,318,593
98$7,060,203$0$0$3,602,911
99$7,665,116$0$0$3,914,524
100$8,328,101$0$0$4,256,160