Can I retire at age 65 with 694,000?

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 $694,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$57,310$56,799$56,301$55,815$55,341$53,959
2 years$28,371$27,843$27,331$26,834$26,353$24,969
3 years$18,726$18,196$17,685$17,193$16,719$15,378
4 years$13,905$13,376$12,870$12,387$11,924$10,635
5 years$11,013$10,487$9,988$9,514$9,065$7,831
6 years$9,085$8,563$8,072$7,608$7,173$5,995
7 years$7,709$7,191$6,707$6,255$5,833$4,713
8 years$6,677$6,164$5,688$5,247$4,839$3,775
9 years$5,875$5,367$4,899$4,470$4,075$3,067
10 years$5,234$4,731$4,271$3,853$3,472$2,518
11 years$4,710$4,212$3,761$3,353$2,986$2,085
12 years$4,273$3,780$3,337$2,941$2,588$1,738
13 years$3,904$3,416$2,982$2,597$2,257$1,457
14 years$3,588$3,105$2,679$2,305$1,978$1,226
15 years$3,314$2,837$2,419$2,056$1,742$1,036
16 years$3,075$2,603$2,193$1,841$1,539$878
17 years$2,864$2,397$1,996$1,654$1,365$746
18 years$2,676$2,215$1,822$1,490$1,214$635
19 years$2,509$2,053$1,668$1,347$1,082$541
20 years$2,359$1,907$1,531$1,220$966$462
21 years$2,223$1,777$1,408$1,107$865$395
22 years$2,099$1,658$1,297$1,006$775$338
23 years$1,987$1,551$1,198$917$696$290
24 years$1,884$1,453$1,108$836$625$248
25 years$1,789$1,364$1,026$763$563$213
26 years$1,702$1,282$952$698$507$183
27 years$1,621$1,206$884$639$457$157
28 years$1,547$1,137$822$585$412$135
29 years$1,477$1,072$765$537$372$116
30 years$1,413$1,013$712$493$336$100
31 years$1,352$957$664$453$304$86
32 years$1,296$906$619$416$275$74
33 years$1,243$858$578$382$249$63
34 years$1,193$813$540$352$225$55
35 years$1,146$771$505$324$204$47
36 years$1,102$732$473$298$185$40
37 years$1,061$695$442$275$168$35
38 years$1,021$661$414$253$152$30
39 years$984$628$388$234$138$26
40 years$949$598$364$215$125$22
41 years$915$569$341$199$113$19
42 years$884$542$320$183$103$16
43 years$853$516$300$169$93$14
44 years$825$492$282$156$85$12
45 years$797$469$265$144$77$11
46 years$771$448$249$133$70$9
47 years$746$427$234$123$63$8
48 years$722$408$219$114$58$7
49 years$699$389$206$105$52$6
50 years$678$372$194$97$48$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $694,000, adding $6,266 every year, while hoping to spend $43,862 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: 62/13/25 Blend
64$694,000$694,000$694,000$694,000
65$771,251$734,469$723,712$813,595
66$803,250$723,790$701,288$832,351
67$837,043$711,116$676,642$847,458
68$872,766$696,306$649,654$862,991
69$910,569$679,205$620,198$878,998
70$950,614$659,654$588,142$895,536
71$993,079$637,480$553,348$912,666
72$1,038,160$612,502$515,671$930,460
73$1,086,068$584,530$474,962$948,997
74$1,137,036$553,362$431,062$968,370
75$1,191,318$518,781$383,808$988,680
76$1,249,194$480,563$333,027$1,010,043
77$1,310,969$438,468$278,540$1,032,587
78$1,376,977$392,242$220,161$1,056,460
79$1,447,585$341,618$157,692$1,081,825
80$1,523,195$286,314$90,931$1,108,865
81$1,604,248$226,030$19,664$1,137,786
82$1,691,227$160,451$0$1,168,818
83$1,784,664$89,245$0$1,217,261
84$1,885,140$12,059$0$1,274,935
85$1,993,296$0$0$1,336,976
86$2,109,834$0$0$1,414,035
87$2,235,525$0$0$1,499,046
88$2,371,217$0$0$1,590,864
89$2,517,841$0$0$1,690,122
90$2,676,421$0$0$1,797,520
91$2,848,082$0$0$1,913,825
92$3,034,059$0$0$2,039,881
93$3,235,714$0$0$2,176,616
94$3,454,541$0$0$2,325,052
95$3,692,186$0$0$2,486,311
96$3,950,456$0$0$2,661,627
97$4,231,343$0$0$2,852,359
98$4,537,035$0$0$3,060,002
99$4,869,942$0$0$3,286,201
100$5,232,714$0$0$3,532,766