Can I retire at age 65 with 693,000?

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 $693,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$57,227$56,718$56,220$55,735$55,261$54,775
2 years$28,330$27,803$27,291$26,796$26,315$25,825
3 years$18,699$18,169$17,659$17,168$16,695$16,217
4 years$13,885$13,356$12,851$12,369$11,907$11,444
5 years$10,997$10,472$9,973$9,500$9,052$8,605
6 years$9,072$8,551$8,060$7,598$7,162$6,733
7 years$7,698$7,181$6,698$6,246$5,825$5,412
8 years$6,668$6,155$5,680$5,240$4,832$4,437
9 years$5,867$5,359$4,892$4,463$4,069$3,691
10 years$5,226$4,724$4,265$3,847$3,467$3,106
11 years$4,703$4,206$3,755$3,348$2,982$2,638
12 years$4,267$3,775$3,333$2,937$2,584$2,256
13 years$3,898$3,411$2,977$2,593$2,253$1,941
14 years$3,583$3,101$2,675$2,302$1,975$1,679
15 years$3,309$2,833$2,415$2,053$1,739$1,458
16 years$3,070$2,599$2,190$1,838$1,537$1,270
17 years$2,860$2,393$1,993$1,651$1,363$1,110
18 years$2,673$2,212$1,819$1,488$1,212$973
19 years$2,506$2,050$1,665$1,345$1,080$854
20 years$2,355$1,905$1,528$1,218$965$751
21 years$2,220$1,774$1,406$1,105$863$662
22 years$2,096$1,656$1,296$1,005$774$584
23 years$1,984$1,549$1,196$915$695$516
24 years$1,881$1,451$1,106$835$624$457
25 years$1,787$1,362$1,025$762$562$405
26 years$1,700$1,280$950$697$506$359
27 years$1,619$1,205$882$638$456$318
28 years$1,545$1,135$820$585$412$282
29 years$1,475$1,071$763$536$372$251
30 years$1,411$1,011$711$492$336$223
31 years$1,350$956$663$452$304$198
32 years$1,294$905$619$415$275$176
33 years$1,241$857$578$382$249$157
34 years$1,191$812$540$351$225$139
35 years$1,145$770$505$323$204$124
36 years$1,101$731$472$298$185$110
37 years$1,059$694$442$274$167$98
38 years$1,020$660$414$253$152$88
39 years$983$627$388$233$138$78
40 years$947$597$363$215$125$69
41 years$914$568$341$198$113$62
42 years$882$541$320$183$103$55
43 years$852$516$300$169$93$49
44 years$823$491$281$156$85$44
45 years$796$469$264$144$77$39
46 years$770$447$248$133$70$35
47 years$745$427$233$123$63$31
48 years$721$407$219$114$58$28
49 years$698$389$206$105$52$25
50 years$677$372$194$97$47$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $693,000, adding $4,215 every year, while hoping to spend $28,278 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: 67/23/10 Blend
64$693,000$693,000$693,000$693,000
65$768,034$731,305$720,563$817,621
66$816,286$737,051$714,615$856,876
67$868,511$742,131$707,519$896,008
68$925,087$746,483$699,208$938,051
69$986,424$750,039$689,610$983,289
70$1,052,978$752,729$678,650$1,032,031
71$1,125,247$754,479$666,251$1,084,620
72$1,203,781$755,207$652,329$1,141,433
73$1,289,184$754,829$636,799$1,202,888
74$1,382,121$753,256$619,571$1,269,445
75$1,483,322$750,390$600,552$1,341,609
76$1,593,593$746,131$579,643$1,419,942
77$1,713,819$740,372$556,740$1,505,060
78$1,844,975$732,996$531,738$1,597,645
79$1,988,134$723,885$504,523$1,698,448
80$2,144,477$712,908$474,977$1,808,298
81$2,315,303$699,931$442,979$1,928,110
82$2,502,045$684,808$408,400$2,058,892
83$2,706,278$667,388$371,105$2,201,757
84$2,929,737$647,509$330,956$2,357,933
85$3,174,332$624,999$287,805$2,528,774
86$3,442,168$599,677$241,500$2,715,775
87$3,735,560$571,353$191,882$2,920,582
88$4,057,061$539,822$138,783$3,145,015
89$4,409,480$504,872$82,031$3,391,077
90$4,795,911$466,275$21,443$3,660,981
91$5,219,763$423,792$0$3,957,166
92$5,684,790$377,169$0$4,286,933
93$6,195,127$326,139$0$4,651,380
94$6,755,329$270,419$0$5,051,511
95$7,370,413$209,709$0$5,490,959
96$8,045,906$143,696$0$5,973,728
97$8,787,895$72,044$0$6,504,232
98$9,603,089$0$0$7,087,340
99$10,498,876$0$0$7,729,832
100$11,483,396$0$0$8,456,052