Can I retire at age 66 with 642,000?

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 $642,000?

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$53,016$52,544$52,083$51,633$51,194$50,429
2 years$26,245$25,757$25,283$24,824$24,378$23,609
3 years$17,323$16,832$16,360$15,905$15,466$14,717
4 years$12,863$12,373$11,906$11,458$11,031$10,307
5 years$10,187$9,701$9,239$8,801$8,385$7,690
6 years$8,404$7,922$7,467$7,038$6,635$5,968
7 years$7,131$6,653$6,205$5,787$5,396$4,758
8 years$6,177$5,702$5,262$4,854$4,477$3,867
9 years$5,435$4,965$4,532$4,135$3,770$3,189
10 years$4,842$4,376$3,951$3,564$3,212$2,659
11 years$4,357$3,896$3,479$3,102$2,763$2,237
12 years$3,953$3,497$3,087$2,721$2,394$1,895
13 years$3,611$3,160$2,758$2,402$2,088$1,615
14 years$3,319$2,873$2,478$2,132$1,830$1,383
15 years$3,066$2,624$2,238$1,902$1,611$1,188
16 years$2,844$2,408$2,029$1,703$1,424$1,025
17 years$2,649$2,217$1,846$1,530$1,263$886
18 years$2,476$2,049$1,685$1,379$1,123$768
19 years$2,321$1,899$1,543$1,246$1,001$667
20 years$2,182$1,765$1,416$1,128$894$581
21 years$2,056$1,644$1,302$1,024$800$506
22 years$1,942$1,534$1,200$931$717$442
23 years$1,838$1,435$1,108$848$644$386
24 years$1,743$1,344$1,025$773$578$337
25 years$1,655$1,262$949$706$521$295
26 years$1,575$1,186$880$646$469$258
27 years$1,500$1,116$818$591$423$227
28 years$1,431$1,052$760$542$381$199
29 years$1,367$992$707$497$344$174
30 years$1,307$937$659$456$311$153
31 years$1,251$886$614$419$281$134
32 years$1,199$838$573$385$255$118
33 years$1,150$794$535$354$230$104
34 years$1,104$752$500$326$209$91
35 years$1,060$713$467$300$189$80
36 years$1,020$677$437$276$171$70
37 years$981$643$409$254$155$62
38 years$945$611$383$234$141$54
39 years$910$581$359$216$128$48
40 years$878$553$337$199$116$42
41 years$847$526$316$184$105$37
42 years$817$501$296$170$95$33
43 years$789$478$278$157$86$29
44 years$763$455$261$145$78$25
45 years$737$434$245$134$71$22
46 years$713$414$230$123$65$20
47 years$690$395$216$114$59$17
48 years$668$377$203$105$53$15
49 years$647$360$191$97$48$13
50 years$627$344$179$90$44$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $642,000, adding $4,588 every year, while hoping to spend $47,136 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: 43/34/23 Blend
65$642,000$642,000$642,000$642,000
66$712,217$678,191$668,240$737,895
67$734,710$661,270$640,473$739,664
68$757,919$641,940$610,197$736,678
69$781,865$620,033$577,277$732,497
70$806,572$595,372$541,573$727,038
71$832,066$567,769$502,939$720,208
72$858,372$537,025$461,223$711,914
73$885,516$502,929$416,264$702,055
74$913,526$465,260$367,896$690,525
75$942,430$423,782$315,945$677,213
76$972,258$378,247$260,230$662,001
77$1,003,040$328,393$200,559$644,765
78$1,034,807$273,941$136,735$625,373
79$1,067,593$214,600$68,550$603,688
80$1,101,430$150,058$0$579,563
81$1,136,355$79,990$0$553,881
82$1,172,403$4,049$0$543,464
83$1,209,612$0$0$531,361
84$1,248,022$0$0$546,682
85$1,287,674$0$0$564,062
86$1,328,608$0$0$582,007
87$1,370,871$0$0$600,535
88$1,414,506$0$0$619,667
89$1,459,562$0$0$639,423
90$1,506,089$0$0$659,825
91$1,554,137$0$0$680,897
92$1,603,760$0$0$702,662
93$1,655,015$0$0$725,145
94$1,707,959$0$0$748,371
95$1,762,654$0$0$772,369
96$1,819,163$0$0$797,165
97$1,877,552$0$0$822,790
98$1,937,892$0$0$849,275
99$2,000,254$0$0$876,652
100$2,064,715$0$0$904,955