Can I retire at age 40 with 698,000?

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 $698,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$57,640$57,127$56,626$56,137$55,660$55,124
2 years$28,535$28,003$27,488$26,989$26,505$25,965
3 years$18,834$18,300$17,787$17,292$16,816$16,289
4 years$13,985$13,453$12,944$12,458$11,993$11,483
5 years$11,076$10,547$10,045$9,569$9,117$8,626
6 years$9,137$8,613$8,118$7,652$7,214$6,741
7 years$7,753$7,233$6,746$6,291$5,867$5,414
8 years$6,716$6,200$5,721$5,278$4,867$4,433
9 years$5,909$5,398$4,928$4,495$4,099$3,684
10 years$5,264$4,758$4,296$3,875$3,492$3,096
11 years$4,737$4,236$3,782$3,373$3,004$2,626
12 years$4,298$3,802$3,357$2,958$2,603$2,243
13 years$3,926$3,436$2,999$2,612$2,270$1,927
14 years$3,608$3,123$2,695$2,318$1,990$1,664
15 years$3,333$2,853$2,433$2,067$1,752$1,443
16 years$3,092$2,618$2,206$1,851$1,548$1,256
17 years$2,880$2,411$2,007$1,663$1,373$1,096
18 years$2,692$2,228$1,832$1,499$1,221$959
19 years$2,524$2,064$1,677$1,354$1,088$841
20 years$2,372$1,918$1,539$1,227$972$739
21 years$2,236$1,787$1,416$1,113$870$650
22 years$2,111$1,668$1,305$1,012$780$573
23 years$1,998$1,560$1,205$922$700$506
24 years$1,895$1,462$1,114$841$629$447
25 years$1,800$1,372$1,032$768$566$395
26 years$1,712$1,289$957$702$510$349
27 years$1,631$1,213$889$643$460$309
28 years$1,556$1,143$826$589$415$274
29 years$1,486$1,079$769$540$374$243
30 years$1,421$1,019$716$496$338$215
31 years$1,360$963$668$455$306$191
32 years$1,303$911$623$418$277$170
33 years$1,250$863$582$385$250$151
34 years$1,200$818$544$354$227$134
35 years$1,153$776$508$326$205$119
36 years$1,109$736$475$300$186$106
37 years$1,067$699$445$276$169$94
38 years$1,027$664$417$255$153$84
39 years$990$632$390$235$139$74
40 years$954$601$366$217$126$66
41 years$921$572$343$200$114$59
42 years$889$545$322$185$104$52
43 years$858$519$302$170$94$47
44 years$829$495$283$157$85$41
45 years$802$472$266$145$77$37
46 years$775$450$250$134$70$33
47 years$750$430$235$124$64$29
48 years$726$410$221$115$58$26
49 years$703$392$207$106$53$23
50 years$681$374$195$98$48$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 40 starting with $698,000, adding $5,466 every year, while hoping to spend $42,894 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: 75/14/11 Blend
39$698,000$698,000$698,000$698,000
40$774,834$737,840$727,021$830,920
41$808,228$728,355$705,738$859,171
42$843,591$716,968$682,303$884,187
43$881,078$703,540$656,601$910,405
44$920,859$687,925$628,508$937,931
45$963,120$669,966$597,896$966,879
46$1,008,064$649,500$564,631$997,379
47$1,055,913$626,353$528,573$1,029,574
48$1,106,911$600,339$489,576$1,063,621
49$1,161,325$571,265$447,486$1,099,695
50$1,219,447$538,923$402,143$1,137,989
51$1,281,597$503,097$353,381$1,178,716
52$1,348,125$463,554$301,025$1,222,113
53$1,419,418$420,052$244,893$1,268,442
54$1,495,896$372,332$184,794$1,317,992
55$1,578,024$320,123$120,531$1,371,085
56$1,666,309$263,136$51,896$1,428,074
57$1,761,310$201,067$0$1,489,352
58$1,863,640$133,596$0$1,557,859
59$1,973,972$60,383$0$1,638,231
60$2,093,046$0$0$1,724,930
61$2,221,673$0$0$1,821,489
62$2,360,747$0$0$1,935,970
63$2,511,250$0$0$2,059,882
64$2,674,259$0$0$2,194,116
65$2,850,961$0$0$2,339,651
66$3,042,661$0$0$2,497,566
67$3,250,793$0$0$2,669,045
68$3,476,934$0$0$2,855,392
69$3,722,820$0$0$3,058,041
70$3,990,361$0$0$3,278,569
71$4,281,657$0$0$3,518,712
72$4,599,020$0$0$3,780,380
73$4,944,993$0$0$4,065,675
74$5,322,378$0$0$4,376,910
75$5,734,255$0$0$4,716,633
76$6,184,017$0$0$5,087,645
77$6,675,398$0$0$5,493,033
78$7,212,510$0$0$5,936,194
79$7,799,877$0$0$6,420,867
80$8,442,485$0$0$6,951,171
81$9,145,819$0$0$7,531,641
82$9,915,923$0$0$8,167,270
83$10,759,450$0$0$8,863,555
84$11,683,728$0$0$9,626,554
85$12,696,827$0$0$10,462,934
86$13,807,636$0$0$11,380,040
87$15,025,942$0$0$12,385,963
88$16,362,528$0$0$13,489,613
89$17,829,270$0$0$14,700,804
90$19,439,249$0$0$16,030,346
91$21,206,875$0$0$17,490,149
92$23,148,021$0$0$19,093,330
93$25,280,172$0$0$20,854,340
94$27,622,591$0$0$22,789,098
95$30,196,497$0$0$24,915,141
96$33,025,268$0$0$27,251,789
97$36,134,660$0$0$29,820,327
98$39,553,044$0$0$32,644,206
99$43,311,683$0$0$35,749,259
100$47,445,015$0$0$39,163,951