Can I retire at age 66 with 488,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $488,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$40,299$39,940$39,589$39,248$38,914$38,066
2 years$19,950$19,578$19,218$18,869$18,530$17,680
3 years$13,168$12,795$12,435$12,090$11,756$10,931
4 years$9,777$9,405$9,050$8,710$8,385$7,590
5 years$7,744$7,374$7,023$6,690$6,374$5,612
6 years$6,388$6,021$5,676$5,350$5,044$4,316
7 years$5,421$5,057$4,716$4,399$4,102$3,408
8 years$4,695$4,335$4,000$3,690$3,403$2,743
9 years$4,131$3,774$3,445$3,143$2,866$2,239
10 years$3,680$3,327$3,004$2,709$2,442$1,848
11 years$3,312$2,961$2,644$2,358$2,100$1,538
12 years$3,005$2,658$2,347$2,068$1,820$1,288
13 years$2,745$2,402$2,097$1,826$1,587$1,086
14 years$2,523$2,183$1,884$1,621$1,391$919
15 years$2,330$1,995$1,701$1,445$1,225$781
16 years$2,162$1,830$1,542$1,294$1,082$665
17 years$2,014$1,685$1,403$1,163$960$568
18 years$1,882$1,557$1,281$1,048$853$487
19 years$1,764$1,443$1,173$947$761$417
20 years$1,659$1,341$1,076$858$679$359
21 years$1,563$1,249$990$778$608$308
22 years$1,476$1,166$912$708$545$266
23 years$1,397$1,091$842$645$489$229
24 years$1,325$1,022$779$588$440$198
25 years$1,258$959$722$537$396$171
26 years$1,197$901$669$491$356$147
27 years$1,140$848$621$449$321$127
28 years$1,088$799$578$412$290$110
29 years$1,039$754$538$378$262$95
30 years$993$712$501$346$237$83
31 years$951$673$467$318$214$71
32 years$911$637$436$292$193$62
33 years$874$603$407$269$175$54
34 years$839$572$380$247$159$46
35 years$806$542$355$228$144$40
36 years$775$515$332$210$130$35
37 years$746$489$311$193$118$30
38 years$718$465$291$178$107$26
39 years$692$442$273$164$97$23
40 years$667$420$256$152$88$20
41 years$644$400$240$140$80$17
42 years$621$381$225$129$72$15
43 years$600$363$211$119$66$13
44 years$580$346$198$110$60$11
45 years$561$330$186$102$54$10
46 years$542$315$175$94$49$8
47 years$525$300$164$87$45$7
48 years$508$287$154$80$41$6
49 years$492$274$145$74$37$5
50 years$476$262$136$68$33$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $488,000, adding $2,824 every year, while hoping to spend $43,757 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: 66/9/25 Blend
65$488,000$488,000$488,000$488,000
66$540,689$514,825$507,261$572,689
67$549,282$493,494$477,697$573,249
68$557,285$469,652$445,676$568,663
69$564,592$443,128$411,070$562,653
70$571,084$413,745$373,744$555,081
71$576,628$381,312$333,558$545,798
72$581,077$345,630$290,366$534,638
73$584,268$306,486$244,014$521,424
74$586,017$263,659$194,343$505,961
75$586,124$216,910$141,185$488,036
76$584,361$165,991$84,368$467,417
77$580,480$110,639$23,708$443,851
78$574,203$50,574$0$417,060
79$565,223$0$0$397,687
80$553,199$0$0$383,353
81$537,754$0$0$371,521
82$518,470$0$0$356,878
83$494,883$0$0$339,086
84$466,482$0$0$317,773
85$432,699$0$0$292,524
86$392,907$0$0$262,884
87$346,413$0$0$228,347
88$292,450$0$0$188,355
89$230,169$0$0$142,290
90$158,634$0$0$89,470
91$76,810$0$0$29,142
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0