Can I retire at age 66 with 689,000?

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 $689,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$56,897$56,390$55,896$55,413$54,942$54,596
2 years$28,167$27,642$27,134$26,641$26,163$25,814
3 years$18,591$18,065$17,557$17,069$16,599$16,257
4 years$13,805$13,279$12,777$12,297$11,838$11,507
5 years$10,933$10,411$9,916$9,446$8,999$8,680
6 years$9,020$8,501$8,013$7,554$7,121$6,813
7 years$7,653$7,140$6,659$6,210$5,791$5,495
8 years$6,629$6,120$5,647$5,210$4,804$4,520
9 years$5,833$5,328$4,864$4,437$4,046$3,774
10 years$5,196$4,697$4,241$3,825$3,447$3,187
11 years$4,676$4,181$3,733$3,329$2,965$2,716
12 years$4,242$3,753$3,313$2,920$2,569$2,332
13 years$3,876$3,392$2,960$2,578$2,240$2,014
14 years$3,562$3,083$2,660$2,288$1,964$1,749
15 years$3,290$2,816$2,401$2,041$1,729$1,525
16 years$3,053$2,584$2,177$1,827$1,528$1,334
17 years$2,843$2,380$1,981$1,642$1,355$1,171
18 years$2,657$2,199$1,809$1,480$1,205$1,030
19 years$2,491$2,038$1,656$1,337$1,074$908
20 years$2,342$1,894$1,519$1,211$959$803
21 years$2,207$1,764$1,398$1,099$858$711
22 years$2,084$1,647$1,288$999$769$630
23 years$1,973$1,540$1,189$910$691$559
24 years$1,870$1,443$1,100$830$621$497
25 years$1,776$1,354$1,019$758$559$442
26 years$1,690$1,273$945$693$503$394
27 years$1,610$1,198$877$634$454$351
28 years$1,536$1,129$816$581$409$313
29 years$1,467$1,065$759$533$370$279
30 years$1,403$1,005$707$489$334$249
31 years$1,343$950$659$449$302$223
32 years$1,286$899$615$413$273$199
33 years$1,234$852$574$380$247$178
34 years$1,185$807$537$349$224$159
35 years$1,138$766$502$322$203$142
36 years$1,094$727$469$296$184$127
37 years$1,053$690$439$273$166$114
38 years$1,014$656$411$252$151$102
39 years$977$624$385$232$137$91
40 years$942$593$361$214$124$82
41 years$909$565$339$197$113$73
42 years$877$538$318$182$102$66
43 years$847$513$298$168$93$59
44 years$819$489$280$155$84$53
45 years$791$466$263$143$76$47
46 years$765$444$247$132$69$42
47 years$741$424$232$122$63$38
48 years$717$405$218$113$57$34
49 years$694$387$205$104$52$30
50 years$673$369$193$97$47$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $689,000, adding $3,771 every year, while hoping to spend $36,368 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: 70/25/5 Blend
65$689,000$689,000$689,000$689,000
66$763,168$726,651$715,971$815,938
67$802,316$723,561$701,261$848,200
68$844,238$719,102$684,839$878,624
69$889,178$713,166$666,610$910,900
70$937,406$705,643$646,473$945,200
71$989,216$696,413$624,324$981,715
72$1,044,930$685,352$600,052$1,020,655
73$1,104,903$672,325$573,545$1,062,254
74$1,169,526$657,191$544,681$1,106,769
75$1,239,225$639,801$513,336$1,154,484
76$1,314,472$619,997$479,378$1,205,715
77$1,395,783$597,612$442,672$1,260,808
78$1,483,725$572,467$403,074$1,320,148
79$1,578,923$544,376$360,435$1,384,159
80$1,682,062$513,140$314,599$1,453,312
81$1,793,898$478,549$265,403$1,528,124
82$1,915,259$440,381$212,678$1,609,168
83$2,047,058$398,403$156,245$1,697,078
84$2,190,298$352,365$95,920$1,792,554
85$2,346,084$302,006$31,509$1,896,369
86$2,515,630$247,050$0$2,009,376
87$2,700,273$187,203$0$2,134,506
88$2,901,482$122,158$0$2,272,737
89$3,120,877$51,587$0$2,423,549
90$3,360,238$0$0$2,588,228
91$3,621,527$0$0$2,775,026
92$3,906,902$0$0$2,994,577
93$4,218,738$0$0$3,234,522
94$4,559,652$0$0$3,496,879
95$4,932,522$0$0$3,783,867
96$5,340,521$0$0$4,097,934
97$5,787,139$0$0$4,441,770
98$6,276,222$0$0$4,818,342
99$6,812,003$0$0$5,230,915
100$7,399,145$0$0$5,683,085