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%13.6%
1 years$56,814$56,308$55,815$55,333$54,862$54,042
2 years$28,126$27,602$27,094$26,602$26,125$25,301
3 years$18,564$18,038$17,532$17,044$16,575$15,772
4 years$13,785$13,260$12,759$12,279$11,821$11,046
5 years$10,917$10,396$9,901$9,432$8,986$8,241
6 years$9,007$8,489$8,002$7,543$7,111$6,396
7 years$7,642$7,129$6,649$6,201$5,783$5,099
8 years$6,619$6,111$5,639$5,202$4,797$4,144
9 years$5,824$5,321$4,857$4,431$4,040$3,417
10 years$5,189$4,690$4,235$3,820$3,442$2,850
11 years$4,669$4,175$3,728$3,324$2,961$2,397
12 years$4,236$3,747$3,309$2,916$2,566$2,031
13 years$3,870$3,387$2,956$2,574$2,237$1,731
14 years$3,557$3,078$2,656$2,285$1,961$1,482
15 years$3,285$2,812$2,398$2,038$1,727$1,273
16 years$3,048$2,580$2,174$1,825$1,526$1,098
17 years$2,839$2,376$1,978$1,639$1,353$950
18 years$2,653$2,196$1,806$1,477$1,203$823
19 years$2,487$2,035$1,653$1,335$1,072$715
20 years$2,338$1,891$1,517$1,209$958$622
21 years$2,204$1,761$1,396$1,097$857$542
22 years$2,081$1,644$1,286$998$768$473
23 years$1,970$1,538$1,188$909$690$413
24 years$1,868$1,441$1,098$829$620$361
25 years$1,774$1,352$1,017$757$558$316
26 years$1,687$1,271$944$692$502$277
27 years$1,607$1,196$876$633$453$243
28 years$1,533$1,127$814$580$409$213
29 years$1,465$1,063$758$532$369$187
30 years$1,400$1,004$706$488$334$164
31 years$1,341$949$658$449$302$144
32 years$1,285$898$614$412$273$126
33 years$1,232$850$573$379$247$111
34 years$1,183$806$536$349$223$98
35 years$1,136$765$501$321$202$86
36 years$1,093$726$469$296$183$75
37 years$1,051$689$439$272$166$66
38 years$1,012$655$411$251$151$58
39 years$976$623$385$232$137$51
40 years$941$593$361$214$124$45
41 years$907$564$338$197$112$40
42 years$876$537$317$182$102$35
43 years$846$512$298$168$93$31
44 years$817$488$279$155$84$27
45 years$790$465$262$143$76$24
46 years$764$444$246$132$69$21
47 years$740$424$232$122$63$18
48 years$716$404$218$113$57$16
49 years$693$386$204$104$52$14
50 years$672$369$192$96$47$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $688,000, adding $3,654 every year, while hoping to spend $28,484 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: 37/36/27 Blend
65$688,000$688,000$688,000$688,000
66$761,945$725,481$714,817$783,869
67$809,357$730,723$708,457$805,601
68$860,650$735,267$700,929$826,192
69$916,190$739,049$692,164$847,884
70$976,379$742,000$682,089$870,794
71$1,041,660$744,049$670,629$895,055
72$1,112,519$745,117$657,705$920,814
73$1,189,491$745,122$643,233$948,234
74$1,273,164$743,978$627,126$977,498
75$1,364,185$741,592$609,294$1,008,810
76$1,463,268$737,865$589,640$1,042,397
77$1,571,194$732,694$568,066$1,078,512
78$1,688,827$725,967$544,468$1,117,434
79$1,817,116$717,568$518,736$1,159,477
80$1,957,106$707,372$490,758$1,204,988
81$2,109,945$695,248$460,413$1,254,353
82$2,276,901$681,056$427,578$1,308,000
83$2,459,365$664,649$392,122$1,366,407
84$2,658,874$645,870$353,911$1,430,101
85$2,877,114$624,553$312,803$1,499,669
86$3,115,947$600,523$268,649$1,575,762
87$3,377,419$573,595$221,294$1,659,103
88$3,663,787$543,572$170,579$1,750,491
89$3,977,533$510,247$116,333$1,850,814
90$4,321,393$473,400$58,381$1,961,055
91$4,698,378$432,799$0$2,082,303
92$5,111,806$388,200$0$2,216,764
93$5,565,330$339,342$0$2,382,788
94$6,062,976$285,952$0$2,565,077
95$6,609,176$227,740$0$2,765,329
96$7,208,814$164,401$0$2,985,417
97$7,867,267$95,611$0$3,227,414
98$8,590,463$21,031$0$3,493,605
99$9,384,927$0$0$3,786,517
100$10,257,852$0$0$4,132,586