Can I retire at age 66 with 623,000?

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 $623,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$51,447$50,988$50,541$50,105$49,679$48,937
2 years$25,469$24,994$24,535$24,089$23,657$22,910
3 years$16,810$16,334$15,876$15,434$15,009$14,282
4 years$12,482$12,007$11,553$11,119$10,704$10,002
5 years$9,886$9,414$8,966$8,541$8,137$7,462
6 years$8,156$7,687$7,246$6,830$6,439$5,791
7 years$6,920$6,456$6,021$5,615$5,236$4,617
8 years$5,994$5,534$5,106$4,711$4,344$3,753
9 years$5,274$4,818$4,398$4,012$3,658$3,095
10 years$4,698$4,247$3,834$3,459$3,117$2,580
11 years$4,228$3,781$3,376$3,010$2,681$2,171
12 years$3,836$3,393$2,996$2,640$2,323$1,839
13 years$3,504$3,067$2,677$2,331$2,026$1,567
14 years$3,221$2,787$2,405$2,069$1,776$1,342
15 years$2,975$2,546$2,171$1,845$1,564$1,153
16 years$2,760$2,336$1,969$1,652$1,382$994
17 years$2,571$2,152$1,791$1,485$1,225$860
18 years$2,403$1,988$1,635$1,338$1,089$746
19 years$2,252$1,843$1,497$1,209$971$648
20 years$2,117$1,712$1,374$1,095$867$564
21 years$1,995$1,595$1,264$994$776$491
22 years$1,885$1,489$1,165$903$696$428
23 years$1,784$1,392$1,075$823$625$374
24 years$1,691$1,305$995$750$561$327
25 years$1,606$1,224$921$685$505$286
26 years$1,528$1,151$854$627$455$251
27 years$1,456$1,083$793$574$410$220
28 years$1,389$1,020$738$526$370$193
29 years$1,326$963$686$482$334$169
30 years$1,268$909$639$442$302$148
31 years$1,214$859$596$406$273$130
32 years$1,163$813$556$373$247$114
33 years$1,116$770$519$343$224$101
34 years$1,071$730$485$316$202$88
35 years$1,029$692$454$291$183$78
36 years$989$657$424$268$166$68
37 years$952$624$397$247$151$60
38 years$917$593$372$227$136$53
39 years$883$564$348$210$124$46
40 years$852$537$327$193$112$41
41 years$822$511$306$178$102$36
42 years$793$486$287$165$92$32
43 years$766$463$270$152$84$28
44 years$740$442$253$140$76$24
45 years$716$421$238$130$69$22
46 years$692$402$223$120$63$19
47 years$670$384$210$111$57$17
48 years$648$366$197$102$52$15
49 years$628$350$185$94$47$13
50 years$608$334$174$87$43$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $623,000, adding $3,903 every year, while hoping to spend $28,905 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: 75/15/10 Blend
65$623,000$623,000$623,000$623,000
66$690,572$657,553$647,896$740,833
67$730,256$659,018$638,846$775,959
68$773,018$659,587$628,524$810,410
69$819,143$659,184$616,857$847,350
70$868,942$657,730$603,768$887,017
71$922,758$655,142$589,178$929,673
72$980,966$651,331$573,002$975,606
73$1,043,979$646,201$555,152$1,025,134
74$1,112,253$639,653$535,538$1,078,607
75$1,186,288$631,581$514,063$1,136,412
76$1,266,632$621,872$490,628$1,198,975
77$1,353,891$610,406$465,126$1,266,766
78$1,448,730$597,057$437,449$1,340,304
79$1,551,879$581,691$407,482$1,420,161
80$1,664,143$564,167$375,106$1,506,967
81$1,786,409$544,335$340,196$1,601,418
82$1,919,651$522,035$302,620$1,704,280
83$2,064,940$497,100$262,243$1,816,400
84$2,223,458$469,352$218,922$1,938,710
85$2,396,504$438,603$172,508$2,072,240
86$2,585,506$404,654$122,847$2,218,124
87$2,792,041$367,295$69,775$2,377,614
88$3,017,841$326,304$13,125$2,552,090
89$3,264,815$281,447$0$2,743,074
90$3,535,063$232,474$0$2,957,296
91$3,830,899$179,126$0$3,193,378
92$4,154,872$121,123$0$3,451,982
93$4,509,786$58,176$0$3,735,379
94$4,898,731$0$0$4,046,076
95$5,325,111$0$0$4,388,488
96$5,792,672$0$0$4,774,527
97$6,305,544$0$0$5,198,002
98$6,868,272$0$0$5,662,671
99$7,485,865$0$0$6,172,672
100$8,163,838$0$0$6,732,563