Can I retire at age 66 with 620,000?

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 $620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$51,199$50,743$50,298$49,864$49,440$49,190
2 years$25,346$24,874$24,417$23,973$23,543$23,291
3 years$16,730$16,255$15,799$15,360$14,936$14,690
4 years$12,422$11,949$11,498$11,066$10,653$10,414
5 years$9,838$9,369$8,923$8,500$8,098$7,867
6 years$8,116$7,650$7,211$6,797$6,408$6,185
7 years$6,887$6,425$5,992$5,588$5,211$4,997
8 years$5,965$5,507$5,082$4,688$4,323$4,118
9 years$5,249$4,795$4,377$3,993$3,641$3,444
10 years$4,676$4,226$3,816$3,442$3,102$2,913
11 years$4,207$3,763$3,360$2,996$2,668$2,487
12 years$3,817$3,377$2,982$2,628$2,312$2,140
13 years$3,488$3,052$2,664$2,320$2,016$1,852
14 years$3,205$2,774$2,393$2,059$1,767$1,611
15 years$2,961$2,534$2,161$1,836$1,556$1,407
16 years$2,747$2,325$1,959$1,644$1,375$1,234
17 years$2,558$2,141$1,783$1,477$1,219$1,085
18 years$2,391$1,979$1,627$1,331$1,084$957
19 years$2,242$1,834$1,490$1,203$966$845
20 years$2,107$1,704$1,367$1,090$863$749
21 years$1,986$1,587$1,258$989$772$664
22 years$1,875$1,482$1,159$899$692$590
23 years$1,775$1,386$1,070$819$622$525
24 years$1,683$1,298$990$747$559$468
25 years$1,598$1,218$917$682$503$417
26 years$1,521$1,145$850$624$453$372
27 years$1,449$1,078$790$571$408$332
28 years$1,382$1,016$734$523$368$297
29 years$1,320$958$683$480$333$266
30 years$1,262$905$636$440$301$238
31 years$1,208$855$593$404$272$213
32 years$1,158$809$553$372$246$191
33 years$1,110$766$517$342$222$171
34 years$1,066$726$483$314$201$153
35 years$1,024$689$451$289$182$137
36 years$985$654$422$267$165$123
37 years$948$621$395$246$150$111
38 years$912$590$370$226$136$99
39 years$879$561$347$209$123$89
40 years$848$534$325$192$112$80
41 years$818$508$305$178$101$72
42 years$789$484$286$164$92$65
43 years$762$461$268$151$83$58
44 years$737$440$252$140$76$52
45 years$712$419$236$129$69$47
46 years$689$400$222$119$62$42
47 years$667$382$209$110$57$38
48 years$645$364$196$102$51$34
49 years$625$348$184$94$47$31
50 years$605$332$173$87$42$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $620,000, adding $4,853 every year, while hoping to spend $22,542 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: 31/39/30 Blend
65$620,000$620,000$620,000$620,000
66$688,246$655,386$645,776$703,162
67$734,462$663,515$643,425$723,309
68$784,638$671,287$640,240$742,688
69$839,151$678,661$636,168$763,113
70$898,422$685,592$631,157$784,692
71$962,908$692,034$625,148$807,544
72$1,033,117$697,936$618,083$831,805
73$1,109,605$703,245$609,899$857,623
74$1,192,985$707,904$600,530$885,164
75$1,283,931$711,853$589,909$914,612
76$1,383,185$715,027$577,965$946,173
77$1,491,564$717,357$564,621$980,075
78$1,609,967$718,772$549,800$1,016,570
79$1,739,386$719,193$533,419$1,055,940
80$1,880,908$718,539$515,394$1,098,497
81$2,035,735$716,722$495,634$1,144,588
82$2,205,189$713,649$474,046$1,194,597
83$2,390,723$709,223$450,532$1,248,951
84$2,593,941$703,340$424,989$1,308,123
85$2,816,607$695,888$397,311$1,372,638
86$3,060,665$686,750$367,384$1,443,076
87$3,328,255$675,803$335,094$1,520,083
88$3,621,734$662,914$300,317$1,604,371
89$3,943,699$647,945$262,925$1,696,731
90$4,297,010$630,748$222,787$1,798,040
91$4,684,816$611,166$179,761$1,909,265
92$5,110,589$589,034$133,704$2,031,479
93$5,578,149$564,177$84,464$2,165,871
94$6,091,709$536,410$31,882$2,313,753
95$6,655,906$505,538$0$2,476,580
96$7,275,851$471,351$0$2,663,715
97$7,957,174$433,633$0$2,880,574
98$8,706,075$392,151$0$3,118,965
99$9,529,388$346,660$0$3,381,122
100$10,434,641$296,902$0$3,669,510