Can I retire at age 64 with 695,000?

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 $695,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$57,392$56,881$56,382$55,896$55,420$53,711
2 years$28,412$27,883$27,370$26,873$26,391$24,683
3 years$18,753$18,222$17,710$17,218$16,743$15,092
4 years$13,925$13,395$12,889$12,404$11,941$10,358
5 years$11,028$10,502$10,002$9,528$9,078$7,567
6 years$9,098$8,576$8,083$7,619$7,183$5,746
7 years$7,720$7,202$6,717$6,264$5,842$4,479
8 years$6,687$6,173$5,697$5,255$4,846$3,556
9 years$5,884$5,375$4,907$4,476$4,081$2,863
10 years$5,241$4,738$4,278$3,858$3,477$2,329
11 years$4,716$4,218$3,766$3,358$2,991$1,910
12 years$4,279$3,786$3,342$2,945$2,592$1,576
13 years$3,909$3,421$2,986$2,600$2,260$1,308
14 years$3,593$3,110$2,683$2,308$1,981$1,090
15 years$3,319$2,841$2,422$2,059$1,744$911
16 years$3,079$2,606$2,196$1,843$1,542$763
17 years$2,868$2,400$1,998$1,656$1,367$641
18 years$2,680$2,218$1,824$1,493$1,215$540
19 years$2,513$2,056$1,670$1,349$1,083$455
20 years$2,362$1,910$1,533$1,221$968$384
21 years$2,226$1,779$1,410$1,109$866$325
22 years$2,102$1,661$1,299$1,008$776$275
23 years$1,990$1,553$1,200$918$697$233
24 years$1,887$1,455$1,110$837$626$197
25 years$1,792$1,366$1,028$765$564$167
26 years$1,705$1,284$953$699$508$142
27 years$1,624$1,208$885$640$458$120
28 years$1,549$1,138$823$586$413$102
29 years$1,479$1,074$766$538$373$87
30 years$1,415$1,014$713$493$337$74
31 years$1,354$959$665$453$305$62
32 years$1,298$907$620$416$276$53
33 years$1,245$859$579$383$249$45
34 years$1,195$814$541$352$226$38
35 years$1,148$772$506$324$204$33
36 years$1,104$733$473$299$185$28
37 years$1,062$696$443$275$168$24
38 years$1,023$662$415$254$152$20
39 years$985$629$389$234$138$17
40 years$950$599$364$216$125$14
41 years$917$570$342$199$114$12
42 years$885$543$320$184$103$10
43 years$855$517$301$170$94$9
44 years$826$493$282$157$85$8
45 years$798$470$265$145$77$6
46 years$772$448$249$134$70$5
47 years$747$428$234$123$64$5
48 years$723$408$220$114$58$4
49 years$700$390$207$105$52$3
50 years$679$373$194$97$48$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $695,000, adding $2,251 every year, while hoping to spend $28,854 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: 52/30/18 Blend
63$695,000$695,000$695,000$695,000
64$768,212$731,377$720,604$804,263
65$815,869$736,514$714,044$834,405
66$867,420$740,936$706,297$863,968
67$923,232$744,576$697,293$895,494
68$983,708$747,367$686,958$929,181
69$1,049,291$749,232$675,216$965,243
70$1,120,468$750,095$661,986$1,003,922
71$1,197,777$749,870$647,183$1,045,481
72$1,281,805$748,469$630,719$1,090,216
73$1,373,204$745,798$612,503$1,138,450
74$1,472,685$741,757$592,436$1,190,544
75$1,581,036$736,240$570,419$1,246,895
76$1,699,119$729,133$546,346$1,307,944
77$1,827,887$720,318$520,106$1,374,178
78$1,968,385$709,668$491,584$1,446,135
79$2,121,768$697,049$460,659$1,524,412
80$2,289,302$682,319$427,205$1,609,667
81$2,472,385$665,326$391,091$1,702,628
82$2,672,554$645,913$352,178$1,804,102
83$2,891,502$623,910$310,324$1,914,979
84$3,131,093$599,139$265,377$2,036,241
85$3,393,379$571,411$217,181$2,168,978
86$3,680,619$540,526$165,573$2,314,391
87$3,995,303$506,273$110,380$2,473,807
88$4,340,172$468,428$51,426$2,648,695
89$4,718,244$426,755$0$2,840,675
90$5,132,843$381,005$0$3,053,743
91$5,587,632$330,913$0$3,298,355
92$6,086,643$276,200$0$3,566,848
93$6,634,319$216,572$0$3,861,672
94$7,235,553$151,718$0$4,185,535
95$7,895,736$81,309$0$4,541,422
96$8,620,806$4,998$0$4,932,625
97$9,417,303$0$0$5,362,778
98$10,292,434$0$0$5,861,500
99$11,254,138$0$0$6,411,445
100$12,311,159$0$0$7,015,976