Can I retire at age 66 with 691,000?

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 $691,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$57,062$56,554$56,058$55,574$55,101$54,033
2 years$28,249$27,722$27,213$26,718$26,239$25,167
3 years$18,645$18,117$17,608$17,119$16,647$15,605
4 years$13,845$13,318$12,814$12,333$11,873$10,868
5 years$10,965$10,441$9,944$9,473$9,025$8,062
6 years$9,046$8,526$8,037$7,576$7,142$6,219
7 years$7,676$7,160$6,678$6,228$5,808$4,928
8 years$6,648$6,138$5,664$5,225$4,818$3,980
9 years$5,850$5,344$4,878$4,450$4,058$3,260
10 years$5,211$4,710$4,253$3,836$3,457$2,700
11 years$4,689$4,193$3,744$3,339$2,973$2,256
12 years$4,255$3,764$3,323$2,928$2,577$1,898
13 years$3,887$3,401$2,969$2,585$2,247$1,605
14 years$3,572$3,092$2,668$2,295$1,970$1,364
15 years$3,300$2,824$2,408$2,047$1,734$1,164
16 years$3,061$2,591$2,184$1,833$1,533$996
17 years$2,851$2,386$1,987$1,647$1,359$855
18 years$2,665$2,205$1,814$1,484$1,208$735
19 years$2,498$2,044$1,660$1,341$1,077$633
20 years$2,348$1,899$1,524$1,214$962$547
21 years$2,213$1,769$1,402$1,102$861$472
22 years$2,090$1,651$1,292$1,002$772$409
23 years$1,978$1,544$1,193$913$693$354
24 years$1,876$1,447$1,103$832$623$307
25 years$1,782$1,358$1,022$760$560$266
26 years$1,695$1,276$948$695$505$231
27 years$1,614$1,201$880$636$455$201
28 years$1,540$1,132$818$583$411$174
29 years$1,471$1,068$761$535$371$152
30 years$1,407$1,008$709$491$335$132
31 years$1,346$953$661$451$303$115
32 years$1,290$902$617$414$274$100
33 years$1,237$854$576$381$248$87
34 years$1,188$810$538$350$224$76
35 years$1,141$768$503$323$203$66
36 years$1,097$729$471$297$184$57
37 years$1,056$692$440$274$167$50
38 years$1,017$658$412$252$151$44
39 years$980$626$386$233$137$38
40 years$945$595$362$215$124$33
41 years$911$567$340$198$113$29
42 years$880$540$319$183$102$25
43 years$850$514$299$169$93$22
44 years$821$490$281$156$84$19
45 years$794$467$264$144$77$17
46 years$768$446$247$133$70$14
47 years$743$425$233$123$63$13
48 years$719$406$218$113$57$11
49 years$696$388$205$105$52$10
50 years$675$370$193$97$47$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $691,000, adding $3,350 every year, while hoping to spend $54,909 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: 78/6/16 Blend
65$691,000$691,000$691,000$691,000
66$764,938$728,315$717,604$821,709
67$784,538$705,579$683,221$836,877
68$804,298$679,889$645,846$846,227
69$824,175$651,043$605,320$854,962
70$844,122$618,824$561,479$863,002
71$864,083$583,008$514,149$870,256
72$883,997$543,352$463,151$876,628
73$903,793$499,605$408,295$882,008
74$923,392$451,497$349,384$886,279
75$942,703$398,746$286,214$889,313
76$961,625$341,051$218,569$890,968
77$980,044$278,096$146,225$891,090
78$997,833$209,547$68,947$889,508
79$1,014,848$135,051$0$886,037
80$1,030,928$54,234$0$882,782
81$1,045,894$0$0$889,924
82$1,059,546$0$0$897,678
83$1,071,660$0$0$907,679
84$1,081,987$0$0$916,131
85$1,090,249$0$0$922,795
86$1,096,137$0$0$927,405
87$1,099,309$0$0$929,665
88$1,099,382$0$0$929,248
89$1,095,933$0$0$925,788
90$1,088,492$0$0$918,880
91$1,076,535$0$0$908,075
92$1,059,485$0$0$892,875
93$1,036,700$0$0$872,729
94$1,007,469$0$0$847,024
95$971,005$0$0$815,084
96$926,436$0$0$776,158
97$872,797$0$0$729,417
98$809,020$0$0$673,942
99$733,926$0$0$608,718
100$646,206$0$0$532,620