Can I retire at age 66 with 623,000?

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 $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%11.4%
1 years$51,447$50,988$50,541$50,105$49,679$49,387
2 years$25,469$24,994$24,535$24,089$23,657$23,362
3 years$16,810$16,334$15,876$15,434$15,009$14,720
4 years$12,482$12,007$11,553$11,119$10,704$10,425
5 years$9,886$9,414$8,966$8,541$8,137$7,867
6 years$8,156$7,687$7,246$6,830$6,439$6,179
7 years$6,920$6,456$6,021$5,615$5,236$4,986
8 years$5,994$5,534$5,106$4,711$4,344$4,104
9 years$5,274$4,818$4,398$4,012$3,658$3,428
10 years$4,698$4,247$3,834$3,459$3,117$2,897
11 years$4,228$3,781$3,376$3,010$2,681$2,470
12 years$3,836$3,393$2,996$2,640$2,323$2,122
13 years$3,504$3,067$2,677$2,331$2,026$1,834
14 years$3,221$2,787$2,405$2,069$1,776$1,594
15 years$2,975$2,546$2,171$1,845$1,564$1,390
16 years$2,760$2,336$1,969$1,652$1,382$1,217
17 years$2,571$2,152$1,791$1,485$1,225$1,069
18 years$2,403$1,988$1,635$1,338$1,089$941
19 years$2,252$1,843$1,497$1,209$971$831
20 years$2,117$1,712$1,374$1,095$867$735
21 years$1,995$1,595$1,264$994$776$651
22 years$1,885$1,489$1,165$903$696$577
23 years$1,784$1,392$1,075$823$625$513
24 years$1,691$1,305$995$750$561$456
25 years$1,606$1,224$921$685$505$406
26 years$1,528$1,151$854$627$455$362
27 years$1,456$1,083$793$574$410$323
28 years$1,389$1,020$738$526$370$288
29 years$1,326$963$686$482$334$257
30 years$1,268$909$639$442$302$230
31 years$1,214$859$596$406$273$205
32 years$1,163$813$556$373$247$184
33 years$1,116$770$519$343$224$164
34 years$1,071$730$485$316$202$147
35 years$1,029$692$454$291$183$132
36 years$989$657$424$268$166$118
37 years$952$624$397$247$151$106
38 years$917$593$372$227$136$95
39 years$883$564$348$210$124$85
40 years$852$537$327$193$112$76
41 years$822$511$306$178$102$68
42 years$793$486$287$165$92$61
43 years$766$463$270$152$84$55
44 years$740$442$253$140$76$49
45 years$716$421$238$130$69$44
46 years$692$402$223$120$63$40
47 years$670$384$210$111$57$35
48 years$648$366$197$102$52$32
49 years$628$350$185$94$47$29
50 years$608$334$174$87$43$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $623,000, adding $5,374 every year, while hoping to spend $34,363 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: 41/50/9 Blend
65$623,000$623,000$623,000$623,000
66$692,089$659,070$649,414$718,403
67$726,120$654,803$634,607$733,083
68$762,471$649,174$618,153$745,104
69$801,341$642,082$599,959$757,337
70$842,951$633,417$579,931$769,814
71$887,541$623,064$557,968$782,575
72$935,376$610,899$533,965$795,665
73$986,744$596,793$507,813$809,136
74$1,041,965$580,609$479,397$823,051
75$1,101,387$562,201$448,599$837,479
76$1,165,395$541,415$415,293$852,501
77$1,234,409$518,088$379,349$868,209
78$1,308,891$492,047$340,630$884,711
79$1,389,351$463,110$298,994$902,127
80$1,476,347$431,085$254,293$920,594
81$1,570,493$395,766$206,370$940,269
82$1,672,464$356,940$155,064$961,327
83$1,783,002$314,376$100,205$983,971
84$1,902,923$267,836$41,617$1,008,425
85$2,033,125$217,063$0$1,034,944
86$2,174,595$161,790$0$1,065,824
87$2,328,418$101,733$0$1,103,775
88$2,495,790$36,591$0$1,145,179
89$2,678,025$0$0$1,190,465
90$2,876,570$0$0$1,258,790
91$3,093,015$0$0$1,355,296
92$3,329,114$0$0$1,460,641
93$3,586,793$0$0$1,575,695
94$3,868,177$0$0$1,701,415
95$4,175,601$0$0$1,838,857
96$4,511,638$0$0$1,989,181
97$4,879,119$0$0$2,153,664
98$5,281,163$0$0$2,333,715
99$5,721,204$0$0$2,530,883
100$6,203,021$0$0$2,746,874