Can I retire at age 66 with 688,000?

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 $688,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$56,814$56,308$55,815$55,333$54,862$54,334
2 years$28,126$27,602$27,094$26,602$26,125$25,593
3 years$18,564$18,038$17,532$17,044$16,575$16,056
4 years$13,785$13,260$12,759$12,279$11,821$11,319
5 years$10,917$10,396$9,901$9,432$8,986$8,502
6 years$9,007$8,489$8,002$7,543$7,111$6,645
7 years$7,642$7,129$6,649$6,201$5,783$5,336
8 years$6,619$6,111$5,639$5,202$4,797$4,369
9 years$5,824$5,321$4,857$4,431$4,040$3,631
10 years$5,189$4,690$4,235$3,820$3,442$3,052
11 years$4,669$4,175$3,728$3,324$2,961$2,588
12 years$4,236$3,747$3,309$2,916$2,566$2,211
13 years$3,870$3,387$2,956$2,574$2,237$1,900
14 years$3,557$3,078$2,656$2,285$1,961$1,641
15 years$3,285$2,812$2,398$2,038$1,727$1,423
16 years$3,048$2,580$2,174$1,825$1,526$1,238
17 years$2,839$2,376$1,978$1,639$1,353$1,080
18 years$2,653$2,196$1,806$1,477$1,203$945
19 years$2,487$2,035$1,653$1,335$1,072$829
20 years$2,338$1,891$1,517$1,209$958$728
21 years$2,204$1,761$1,396$1,097$857$641
22 years$2,081$1,644$1,286$998$768$565
23 years$1,970$1,538$1,188$909$690$498
24 years$1,868$1,441$1,098$829$620$440
25 years$1,774$1,352$1,017$757$558$389
26 years$1,687$1,271$944$692$502$344
27 years$1,607$1,196$876$633$453$305
28 years$1,533$1,127$814$580$409$270
29 years$1,465$1,063$758$532$369$239
30 years$1,400$1,004$706$488$334$212
31 years$1,341$949$658$449$302$188
32 years$1,285$898$614$412$273$167
33 years$1,232$850$573$379$247$149
34 years$1,183$806$536$349$223$132
35 years$1,136$765$501$321$202$117
36 years$1,093$726$469$296$183$104
37 years$1,051$689$439$272$166$93
38 years$1,012$655$411$251$151$82
39 years$976$623$385$232$137$73
40 years$941$593$361$214$124$65
41 years$907$564$338$197$112$58
42 years$876$537$317$182$102$52
43 years$846$512$298$168$93$46
44 years$817$488$279$155$84$41
45 years$790$465$262$143$76$36
46 years$764$444$246$132$69$32
47 years$740$424$232$122$63$29
48 years$716$404$218$113$57$26
49 years$693$386$204$104$52$23
50 years$672$369$192$96$47$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $688,000, adding $5,163 every year, while hoping to spend $46,421 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: 47/42/11 Blend
65$688,000$688,000$688,000$688,000
66$763,502$727,038$716,374$796,823
67$791,987$713,271$690,981$806,575
68$821,822$697,274$663,181$811,932
69$853,096$678,888$632,845$816,697
70$885,904$657,946$599,838$820,830
71$920,351$634,270$564,017$824,291
72$956,551$607,673$525,235$827,040
73$994,625$577,955$483,337$829,036
74$1,034,710$544,908$438,162$830,236
75$1,076,950$508,308$389,540$830,601
76$1,121,504$467,920$337,295$830,088
77$1,168,547$423,497$281,243$828,658
78$1,218,265$374,776$221,192$826,270
79$1,270,867$321,479$156,941$822,886
80$1,326,577$263,313$88,280$818,471
81$1,385,641$199,968$14,990$812,991
82$1,448,328$131,118$0$806,414
83$1,514,932$56,417$0$806,135
84$1,585,773$0$0$807,070
85$1,661,204$0$0$818,794
86$1,741,611$0$0$859,129
87$1,827,414$0$0$902,218
88$1,919,076$0$0$948,298
89$2,017,103$0$0$997,632
90$2,122,051$0$0$1,050,505
91$2,234,529$0$0$1,107,231
92$2,355,204$0$0$1,168,155
93$2,484,810$0$0$1,233,655
94$2,624,151$0$0$1,304,145
95$2,774,110$0$0$1,380,082
96$2,935,658$0$0$1,461,967
97$3,109,858$0$0$1,550,349
98$3,297,883$0$0$1,645,832
99$3,501,016$0$0$1,749,082
100$3,720,672$0$0$1,860,827