Can I retire at age 66 with 693,000?

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 $693,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$57,227$56,718$56,220$55,735$55,261$54,234
2 years$28,330$27,803$27,291$26,796$26,315$25,284
3 years$18,699$18,169$17,659$17,168$16,695$15,693
4 years$13,885$13,356$12,851$12,369$11,907$10,941
5 years$10,997$10,472$9,973$9,500$9,052$8,124
6 years$9,072$8,551$8,060$7,598$7,162$6,274
7 years$7,698$7,181$6,698$6,246$5,825$4,977
8 years$6,668$6,155$5,680$5,240$4,832$4,024
9 years$5,867$5,359$4,892$4,463$4,069$3,301
10 years$5,226$4,724$4,265$3,847$3,467$2,737
11 years$4,703$4,206$3,755$3,348$2,982$2,290
12 years$4,267$3,775$3,333$2,937$2,584$1,929
13 years$3,898$3,411$2,977$2,593$2,253$1,634
14 years$3,583$3,101$2,675$2,302$1,975$1,390
15 years$3,309$2,833$2,415$2,053$1,739$1,187
16 years$3,070$2,599$2,190$1,838$1,537$1,018
17 years$2,860$2,393$1,993$1,651$1,363$874
18 years$2,673$2,212$1,819$1,488$1,212$753
19 years$2,506$2,050$1,665$1,345$1,080$650
20 years$2,355$1,905$1,528$1,218$965$562
21 years$2,220$1,774$1,406$1,105$863$486
22 years$2,096$1,656$1,296$1,005$774$421
23 years$1,984$1,549$1,196$915$695$365
24 years$1,881$1,451$1,106$835$624$317
25 years$1,787$1,362$1,025$762$562$276
26 years$1,700$1,280$950$697$506$240
27 years$1,619$1,205$882$638$456$209
28 years$1,545$1,135$820$585$412$182
29 years$1,475$1,071$763$536$372$158
30 years$1,411$1,011$711$492$336$138
31 years$1,350$956$663$452$304$120
32 years$1,294$905$619$415$275$105
33 years$1,241$857$578$382$249$91
34 years$1,191$812$540$351$225$80
35 years$1,145$770$505$323$204$69
36 years$1,101$731$472$298$185$61
37 years$1,059$694$442$274$167$53
38 years$1,020$660$414$253$152$46
39 years$983$627$388$233$138$40
40 years$947$597$363$215$125$35
41 years$914$568$341$198$113$31
42 years$882$541$320$183$103$27
43 years$852$516$300$169$93$23
44 years$823$491$281$156$85$20
45 years$796$469$264$144$77$18
46 years$770$447$248$133$70$16
47 years$745$427$233$123$63$14
48 years$721$407$219$114$58$12
49 years$698$389$206$105$52$10
50 years$677$372$194$97$47$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $693,000, adding $3,856 every year, while hoping to spend $35,360 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: 29/49/22 Blend
65$693,000$693,000$693,000$693,000
66$767,663$730,934$720,193$784,545
67$808,342$729,127$706,697$796,084
68$851,985$726,047$691,563$805,079
69$898,858$721,593$674,700$814,010
70$949,250$715,660$656,011$822,892
71$1,003,481$708,135$635,396$831,747
72$1,061,903$698,900$612,748$840,603
73$1,124,899$687,829$587,957$849,493
74$1,192,894$674,787$560,909$858,456
75$1,266,352$659,634$531,482$867,542
76$1,345,783$642,220$499,550$876,808
77$1,431,750$622,386$464,982$886,322
78$1,524,870$599,963$427,640$896,163
79$1,625,820$574,776$387,380$906,426
80$1,735,348$546,634$344,052$917,217
81$1,854,275$515,340$297,498$928,662
82$1,983,502$480,683$247,556$940,902
83$2,124,024$442,441$194,053$954,104
84$2,276,932$400,378$136,812$968,453
85$2,443,429$354,247$75,645$984,165
86$2,624,837$303,783$10,358$1,001,483
87$2,822,613$248,711$0$1,020,683
88$3,038,358$188,737$0$1,056,003
89$3,273,836$123,550$0$1,097,372
90$3,530,989$52,825$0$1,142,809
91$3,811,952$0$0$1,192,819
92$4,119,078$0$0$1,260,790
93$4,454,959$0$0$1,366,380
94$4,822,444$0$0$1,482,015
95$5,224,676$0$0$1,608,697
96$5,665,110$0$0$1,747,529
97$6,147,556$0$0$1,899,727
98$6,676,206$0$0$2,066,628
99$7,255,680$0$0$2,249,707
100$7,891,062$0$0$2,450,587