Can I retire at age 65 with 696,000?

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 $696,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$57,475$56,963$56,464$55,976$55,500$54,648
2 years$28,453$27,923$27,410$26,912$26,429$25,572
3 years$18,780$18,248$17,736$17,243$16,767$15,933
4 years$13,945$13,414$12,907$12,422$11,959$11,153
5 years$11,044$10,517$10,016$9,541$9,091$8,317
6 years$9,111$8,588$8,095$7,630$7,193$6,451
7 years$7,731$7,212$6,727$6,273$5,850$5,140
8 years$6,696$6,182$5,705$5,263$4,853$4,175
9 years$5,892$5,383$4,914$4,483$4,087$3,441
10 years$5,249$4,745$4,284$3,864$3,482$2,868
11 years$4,723$4,224$3,771$3,363$2,995$2,411
12 years$4,285$3,791$3,347$2,950$2,595$2,041
13 years$3,915$3,426$2,990$2,604$2,263$1,738
14 years$3,598$3,114$2,687$2,312$1,984$1,487
15 years$3,324$2,845$2,426$2,062$1,747$1,277
16 years$3,084$2,610$2,199$1,846$1,544$1,101
17 years$2,872$2,404$2,001$1,659$1,369$951
18 years$2,684$2,221$1,827$1,495$1,217$824
19 years$2,516$2,059$1,673$1,351$1,085$715
20 years$2,365$1,913$1,535$1,223$969$622
21 years$2,229$1,782$1,412$1,110$867$542
22 years$2,105$1,663$1,301$1,009$777$472
23 years$1,993$1,556$1,201$919$698$412
24 years$1,889$1,458$1,111$838$627$360
25 years$1,794$1,368$1,029$766$564$315
26 years$1,707$1,286$954$700$508$276
27 years$1,626$1,210$886$641$458$241
28 years$1,551$1,140$824$587$414$211
29 years$1,482$1,075$767$538$373$185
30 years$1,417$1,016$714$494$337$162
31 years$1,356$960$666$454$305$143
32 years$1,300$908$621$417$276$125
33 years$1,246$860$580$384$250$110
34 years$1,197$815$542$353$226$96
35 years$1,150$773$507$325$205$85
36 years$1,105$734$474$299$186$74
37 years$1,064$697$444$276$168$65
38 years$1,024$663$415$254$152$57
39 years$987$630$389$234$138$50
40 years$952$599$365$216$125$44
41 years$918$571$342$199$114$39
42 years$886$543$321$184$103$34
43 years$856$518$301$170$94$30
44 years$827$494$283$157$85$26
45 years$799$471$265$145$77$23
46 years$773$449$249$134$70$20
47 years$748$428$234$124$64$18
48 years$724$409$220$114$58$16
49 years$701$391$207$106$52$14
50 years$680$373$194$98$48$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 65 starting with $696,000, adding $2,223 every year, while hoping to spend $49,308 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: 29/50/21 Blend
64$696,000$696,000$696,000$696,000
65$769,285$732,397$721,609$786,465
66$795,289$715,821$693,320$783,287
67$822,292$696,780$662,430$775,327
68$850,346$675,102$628,801$765,728
69$879,502$650,603$592,287$754,378
70$909,818$623,090$552,736$741,163
71$941,356$592,358$509,989$725,960
72$974,181$558,190$463,880$708,640
73$1,008,364$520,358$414,236$689,068
74$1,043,980$478,618$360,876$667,102
75$1,081,111$432,715$303,610$642,593
76$1,119,844$382,378$242,241$615,384
77$1,160,275$327,321$176,563$585,311
78$1,202,505$267,242$106,360$552,201
79$1,246,645$201,821$31,407$515,873
80$1,292,814$130,722$0$476,138
81$1,341,141$53,587$0$443,683
82$1,391,766$0$0$415,631
83$1,444,840$0$0$401,262
84$1,500,528$0$0$417,154
85$1,559,008$0$0$433,878
86$1,620,473$0$0$451,494
87$1,685,136$0$0$470,068
88$1,753,224$0$0$489,671
89$1,824,988$0$0$510,380
90$1,900,699$0$0$532,281
91$1,980,653$0$0$555,466
92$2,065,175$0$0$580,036
93$2,154,617$0$0$606,101
94$2,249,364$0$0$633,783
95$2,349,836$0$0$663,212
96$2,456,494$0$0$694,534
97$2,569,842$0$0$727,906
98$2,690,428$0$0$763,502
99$2,818,856$0$0$801,512
100$2,955,785$0$0$842,142