Can I retire at age 30 with 704,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%11.8%
1 years$58,136$57,618$57,113$56,619$56,138$55,714
2 years$28,780$28,244$27,725$27,221$26,732$26,305
3 years$18,996$18,458$17,940$17,441$16,960$16,543
4 years$14,105$13,568$13,055$12,565$12,096$11,692
5 years$11,171$10,638$10,132$9,651$9,195$8,805
6 years$9,216$8,687$8,188$7,718$7,276$6,900
7 years$7,820$7,295$6,804$6,345$5,917$5,556
8 years$6,773$6,253$5,770$5,323$4,909$4,563
9 years$5,960$5,444$4,970$4,534$4,134$3,803
10 years$5,309$4,799$4,333$3,908$3,522$3,206
11 years$4,777$4,272$3,815$3,401$3,029$2,727
12 years$4,335$3,835$3,385$2,984$2,625$2,337
13 years$3,960$3,465$3,025$2,634$2,289$2,015
14 years$3,639$3,150$2,718$2,338$2,007$1,746
15 years$3,362$2,877$2,454$2,085$1,767$1,519
16 years$3,119$2,640$2,225$1,867$1,562$1,326
17 years$2,905$2,431$2,024$1,678$1,385$1,161
18 years$2,715$2,247$1,848$1,512$1,231$1,020
19 years$2,545$2,082$1,692$1,366$1,097$897
20 years$2,393$1,935$1,553$1,237$980$791
21 years$2,255$1,802$1,428$1,123$877$699
22 years$2,130$1,682$1,316$1,021$786$618
23 years$2,015$1,573$1,215$930$706$548
24 years$1,911$1,474$1,124$848$634$485
25 years$1,815$1,384$1,041$774$571$431
26 years$1,727$1,300$965$708$514$383
27 years$1,645$1,224$897$648$464$340
28 years$1,569$1,153$833$594$418$303
29 years$1,499$1,088$776$545$378$269
30 years$1,433$1,027$722$500$341$240
31 years$1,372$971$673$459$309$214
32 years$1,314$919$628$422$279$191
33 years$1,261$870$587$388$253$170
34 years$1,210$825$548$357$229$152
35 years$1,163$782$513$329$207$135
36 years$1,118$743$479$303$188$121
37 years$1,076$705$449$279$170$108
38 years$1,036$670$420$257$154$96
39 years$998$637$394$237$140$86
40 years$962$606$369$219$127$77
41 years$929$577$346$202$115$69
42 years$896$550$325$186$104$61
43 years$866$524$305$172$95$55
44 years$836$499$286$159$86$49
45 years$809$476$268$146$78$44
46 years$782$454$252$135$71$39
47 years$757$433$237$125$64$35
48 years$733$414$223$116$58$31
49 years$709$395$209$107$53$28
50 years$687$377$197$99$48$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 30 starting with $704,000, adding $6,471 every year, while hoping to spend $32,270 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: 28/48/24 Blend
29$704,000$704,000$704,000$704,000
30$782,483$745,171$734,259$798,376
31$827,961$747,349$724,521$813,555
32$876,997$748,553$713,376$826,592
33$929,918$748,700$700,742$839,929
34$987,087$747,703$686,534$853,612
35$1,048,899$745,470$670,663$867,696
36$1,115,793$741,904$653,036$882,242
37$1,188,246$736,900$633,555$897,323
38$1,266,787$730,348$612,119$913,019
39$1,351,996$722,131$588,621$929,426
40$1,444,509$712,125$562,950$946,650
41$1,545,029$700,200$534,989$964,812
42$1,654,328$686,215$504,617$984,051
43$1,773,253$670,024$471,705$1,004,522
44$1,902,740$651,470$436,122$1,026,402
45$2,043,816$630,388$397,729$1,049,892
46$2,197,611$606,603$356,379$1,075,215
47$2,365,372$579,931$311,922$1,102,626
48$2,548,468$550,176$264,200$1,132,409
49$2,748,407$517,130$213,046$1,164,885
50$2,966,850$480,575$158,288$1,200,413
51$3,205,625$440,279$99,747$1,239,396
52$3,466,743$395,997$37,233$1,282,285
53$3,752,421$347,471$0$1,329,585
54$4,065,098$294,428$0$1,389,409
55$4,407,462$236,578$0$1,465,506
56$4,782,469$173,616$0$1,549,088
57$5,193,379$105,222$0$1,640,999
58$5,643,779$31,053$0$1,742,174
59$6,137,622$0$0$1,853,651
60$6,679,259$0$0$2,002,594
61$7,273,484$0$0$2,184,110
62$7,925,578$0$0$2,383,424
63$8,641,356$0$0$2,602,329
64$9,427,227$0$0$2,842,799
65$10,290,246$0$0$3,107,011
66$11,238,188$0$0$3,397,362
67$12,279,619$0$0$3,716,491
68$13,423,972$0$0$4,067,309
69$14,681,642$0$0$4,453,020
70$16,064,079$0$0$4,877,154
71$17,583,900$0$0$5,343,604
72$19,255,003$0$0$5,856,654
73$21,092,701$0$0$6,421,027
74$23,113,865$0$0$7,041,926
75$25,337,085$0$0$7,725,085
76$27,782,839$0$0$8,476,819
77$30,473,693$0$0$9,304,090
78$33,434,510$0$0$10,214,565
79$36,692,684$0$0$11,216,695
80$40,278,399$0$0$12,319,789
81$44,224,913$0$0$13,534,107
82$48,568,873$0$0$14,870,954
83$53,350,657$0$0$16,342,784
84$58,614,757$0$0$17,963,323
85$64,410,198$0$0$19,747,695
86$70,791,002$0$0$21,712,564
87$77,816,693$0$0$23,876,294
88$85,552,863$0$0$26,259,120
89$94,071,786$0$0$28,883,338
90$103,453,104$0$0$31,773,519
91$113,784,576$0$0$34,956,737
92$125,162,904$0$0$38,462,826
93$137,694,648$0$0$42,324,661
94$151,497,233$0$0$46,578,471
95$166,700,049$0$0$51,264,176
96$183,445,681$0$0$56,425,765
97$201,891,248$0$0$62,111,715
98$222,209,887$0$0$68,375,442
99$244,592,387$0$0$75,275,813
100$269,248,991$0$0$82,877,693