Can I retire at age 66 with 514,000?

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 $514,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$42,446$42,068$41,699$41,339$40,987$40,225
2 years$21,013$20,621$20,242$19,874$19,518$18,753
3 years$13,869$13,476$13,098$12,734$12,383$11,639
4 years$10,298$9,906$9,532$9,174$8,832$8,115
5 years$8,156$7,767$7,397$7,046$6,714$6,025
6 years$6,729$6,342$5,978$5,635$5,312$4,654
7 years$5,709$5,326$4,968$4,633$4,320$3,691
8 years$4,945$4,566$4,213$3,886$3,584$2,985
9 years$4,351$3,975$3,629$3,310$3,018$2,448
10 years$3,876$3,504$3,164$2,854$2,572$2,030
11 years$3,488$3,119$2,785$2,483$2,212$1,698
12 years$3,165$2,800$2,472$2,178$1,917$1,430
13 years$2,891$2,530$2,208$1,923$1,671$1,212
14 years$2,657$2,300$1,984$1,707$1,465$1,031
15 years$2,454$2,101$1,791$1,522$1,290$881
16 years$2,277$1,928$1,624$1,363$1,140$755
17 years$2,121$1,775$1,478$1,225$1,011$649
18 years$1,982$1,640$1,349$1,104$899$559
19 years$1,858$1,520$1,235$997$801$482
20 years$1,747$1,413$1,134$903$716$417
21 years$1,646$1,316$1,043$820$640$361
22 years$1,555$1,228$961$745$574$312
23 years$1,472$1,149$887$679$515$271
24 years$1,395$1,076$821$619$463$235
25 years$1,325$1,010$760$565$417$205
26 years$1,261$949$705$517$375$178
27 years$1,201$893$655$473$338$155
28 years$1,146$842$608$434$305$135
29 years$1,094$794$566$398$276$117
30 years$1,046$750$527$365$249$102
31 years$1,002$709$492$335$225$89
32 years$960$671$459$308$204$78
33 years$920$635$428$283$184$68
34 years$884$602$400$261$167$59
35 years$849$571$374$240$151$51
36 years$816$542$350$221$137$45
37 years$786$515$328$204$124$39
38 years$756$489$307$188$113$34
39 years$729$465$287$173$102$30
40 years$703$443$269$160$93$26
41 years$678$421$253$147$84$23
42 years$654$401$237$136$76$20
43 years$632$382$222$125$69$17
44 years$611$364$209$116$63$15
45 years$590$348$196$107$57$13
46 years$571$332$184$99$52$12
47 years$553$316$173$91$47$10
48 years$535$302$163$84$43$9
49 years$518$288$153$78$39$8
50 years$502$276$144$72$35$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $514,000, adding $2,254 every year, while hoping to spend $32,824 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: 53/32/15 Blend
65$514,000$514,000$514,000$514,000
66$568,753$541,511$533,544$596,499
67$591,841$533,121$516,493$607,309
68$616,185$523,219$497,771$615,383
69$641,876$511,697$477,287$623,430
70$669,017$498,440$454,946$631,457
71$697,720$483,327$430,650$639,471
72$728,105$466,227$404,294$647,485
73$760,304$447,005$375,770$655,513
74$794,462$425,516$344,966$663,573
75$830,738$401,606$311,763$671,690
76$869,304$375,116$276,038$679,889
77$910,350$345,873$237,662$688,206
78$954,082$313,697$196,499$696,678
79$1,000,727$278,397$152,411$705,353
80$1,050,534$239,771$105,250$714,285
81$1,103,774$197,606$54,862$723,539
82$1,160,747$151,677$1,088$733,187
83$1,221,780$101,745$0$743,317
84$1,287,231$47,560$0$763,036
85$1,357,494$0$0$784,218
86$1,433,001$0$0$810,772
87$1,514,226$0$0$857,388
88$1,601,692$0$0$907,622
89$1,695,968$0$0$961,807
90$1,797,684$0$0$1,020,310
91$1,907,530$0$0$1,083,533
92$2,026,265$0$0$1,151,918
93$2,154,722$0$0$1,225,951
94$2,293,817$0$0$1,306,166
95$2,444,559$0$0$1,393,151
96$2,608,055$0$0$1,487,552
97$2,785,522$0$0$1,590,079
98$2,978,302$0$0$1,701,514
99$3,187,869$0$0$1,822,717
100$3,415,843$0$0$1,954,633