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%13.1%
1 years$57,227$56,718$56,220$55,735$55,261$54,548
2 years$28,330$27,803$27,291$26,796$26,315$25,597
3 years$18,699$18,169$17,659$17,168$16,695$15,996
4 years$13,885$13,356$12,851$12,369$11,907$11,231
5 years$10,997$10,472$9,973$9,500$9,052$8,401
6 years$9,072$8,551$8,060$7,598$7,162$6,538
7 years$7,698$7,181$6,698$6,246$5,825$5,226
8 years$6,668$6,155$5,680$5,240$4,832$4,260
9 years$5,867$5,359$4,892$4,463$4,069$3,523
10 years$5,226$4,724$4,265$3,847$3,467$2,947
11 years$4,703$4,206$3,755$3,348$2,982$2,487
12 years$4,267$3,775$3,333$2,937$2,584$2,114
13 years$3,898$3,411$2,977$2,593$2,253$1,807
14 years$3,583$3,101$2,675$2,302$1,975$1,552
15 years$3,309$2,833$2,415$2,053$1,739$1,339
16 years$3,070$2,599$2,190$1,838$1,537$1,159
17 years$2,860$2,393$1,993$1,651$1,363$1,005
18 years$2,673$2,212$1,819$1,488$1,212$875
19 years$2,506$2,050$1,665$1,345$1,080$763
20 years$2,355$1,905$1,528$1,218$965$666
21 years$2,220$1,774$1,406$1,105$863$583
22 years$2,096$1,656$1,296$1,005$774$510
23 years$1,984$1,549$1,196$915$695$447
24 years$1,881$1,451$1,106$835$624$393
25 years$1,787$1,362$1,025$762$562$345
26 years$1,700$1,280$950$697$506$303
27 years$1,619$1,205$882$638$456$267
28 years$1,545$1,135$820$585$412$235
29 years$1,475$1,071$763$536$372$207
30 years$1,411$1,011$711$492$336$182
31 years$1,350$956$663$452$304$161
32 years$1,294$905$619$415$275$142
33 years$1,241$857$578$382$249$125
34 years$1,191$812$540$351$225$110
35 years$1,145$770$505$323$204$97
36 years$1,101$731$472$298$185$86
37 years$1,059$694$442$274$167$76
38 years$1,020$660$414$253$152$67
39 years$983$627$388$233$138$59
40 years$947$597$363$215$125$52
41 years$914$568$341$198$113$46
42 years$882$541$320$183$103$41
43 years$852$516$300$169$93$36
44 years$823$491$281$156$85$32
45 years$796$469$264$144$77$28
46 years$770$447$248$133$70$25
47 years$745$427$233$123$63$22
48 years$721$407$219$114$58$19
49 years$698$389$206$105$52$17
50 years$677$372$194$97$47$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $693,000, adding $4,718 every year, while hoping to spend $58,386 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: 67/28/5 Blend
64$693,000$693,000$693,000$693,000
65$768,553$731,824$721,082$819,259
66$784,823$705,561$683,116$827,205
67$800,796$676,054$641,921$828,367
68$816,379$643,083$597,328$828,053
69$831,470$606,415$549,159$826,111
70$845,953$565,802$497,229$822,371
71$859,697$520,983$441,343$816,653
72$872,559$471,684$381,300$808,757
73$884,375$417,611$316,889$798,468
74$894,965$358,458$247,889$785,551
75$904,127$293,899$174,069$769,749
76$911,637$223,589$95,189$750,783
77$917,245$147,165$10,999$728,349
78$920,672$64,244$0$702,116
79$921,610$0$0$675,929
80$919,715$0$0$653,969
81$914,605$0$0$649,406
82$905,858$0$0$642,133
83$893,006$0$0$631,802
84$875,526$0$0$618,029
85$852,844$0$0$600,387
86$824,321$0$0$578,404
87$789,250$0$0$551,557
88$746,848$0$0$519,268
89$696,250$0$0$480,897
90$636,497$0$0$435,734
91$566,530$0$0$382,997
92$485,178$0$0$321,819
93$391,145$0$0$251,244
94$282,999$0$0$170,213
95$159,160$0$0$77,557
96$17,878$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0