Can I retire at age 66 with 694,000?

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 $694,000?

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$57,310$56,799$56,301$55,815$55,341$54,808
2 years$28,371$27,843$27,331$26,834$26,353$25,816
3 years$18,726$18,196$17,685$17,193$16,719$16,196
4 years$13,905$13,376$12,870$12,387$11,924$11,417
5 years$11,013$10,487$9,988$9,514$9,065$8,576
6 years$9,085$8,563$8,072$7,608$7,173$6,703
7 years$7,709$7,191$6,707$6,255$5,833$5,383
8 years$6,677$6,164$5,688$5,247$4,839$4,408
9 years$5,875$5,367$4,899$4,470$4,075$3,663
10 years$5,234$4,731$4,271$3,853$3,472$3,078
11 years$4,710$4,212$3,761$3,353$2,986$2,610
12 years$4,273$3,780$3,337$2,941$2,588$2,230
13 years$3,904$3,416$2,982$2,597$2,257$1,916
14 years$3,588$3,105$2,679$2,305$1,978$1,655
15 years$3,314$2,837$2,419$2,056$1,742$1,435
16 years$3,075$2,603$2,193$1,841$1,539$1,249
17 years$2,864$2,397$1,996$1,654$1,365$1,090
18 years$2,676$2,215$1,822$1,490$1,214$954
19 years$2,509$2,053$1,668$1,347$1,082$836
20 years$2,359$1,907$1,531$1,220$966$735
21 years$2,223$1,777$1,408$1,107$865$646
22 years$2,099$1,658$1,297$1,006$775$570
23 years$1,987$1,551$1,198$917$696$503
24 years$1,884$1,453$1,108$836$625$444
25 years$1,789$1,364$1,026$763$563$392
26 years$1,702$1,282$952$698$507$347
27 years$1,621$1,206$884$639$457$308
28 years$1,547$1,137$822$585$412$272
29 years$1,477$1,072$765$537$372$242
30 years$1,413$1,013$712$493$336$214
31 years$1,352$957$664$453$304$190
32 years$1,296$906$619$416$275$169
33 years$1,243$858$578$382$249$150
34 years$1,193$813$540$352$225$133
35 years$1,146$771$505$324$204$118
36 years$1,102$732$473$298$185$105
37 years$1,061$695$442$275$168$93
38 years$1,021$661$414$253$152$83
39 years$984$628$388$234$138$74
40 years$949$598$364$215$125$66
41 years$915$569$341$199$113$58
42 years$884$542$320$183$103$52
43 years$853$516$300$169$93$46
44 years$825$492$282$156$85$41
45 years$797$469$265$144$77$37
46 years$771$448$249$133$70$33
47 years$746$427$234$123$63$29
48 years$722$408$219$114$58$26
49 years$699$389$206$105$52$23
50 years$678$372$194$97$48$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $694,000, adding $5,728 every year, while hoping to spend $26,836 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: 75/11/14 Blend
65$694,000$694,000$694,000$694,000
66$770,696$733,914$723,157$825,789
67$820,754$741,323$718,830$870,374
68$875,018$748,195$713,458$915,317
69$933,890$754,476$706,978$963,842
70$997,809$760,108$699,325$1,016,297
71$1,067,261$765,029$690,427$1,073,064
72$1,142,779$769,172$680,214$1,134,568
73$1,224,949$772,469$668,608$1,201,274
74$1,314,417$774,843$655,530$1,273,695
75$1,411,894$776,216$640,896$1,352,397
76$1,518,160$776,504$624,619$1,438,005
77$1,634,077$775,617$606,608$1,531,204
78$1,760,591$773,460$586,767$1,632,754
79$1,898,743$769,932$564,997$1,743,490
80$2,049,683$764,927$541,192$1,864,333
81$2,214,672$758,330$515,244$1,996,297
82$2,395,102$750,021$487,037$2,140,503
83$2,592,503$739,873$456,454$2,298,183
84$2,808,562$727,750$423,369$2,470,698
85$3,045,136$713,510$387,652$2,659,546
86$3,304,267$697,000$349,166$2,866,381
87$3,588,209$678,060$307,769$3,093,024
88$3,899,441$656,519$263,314$3,341,484
89$4,240,693$632,197$215,644$3,613,974
90$4,614,973$604,904$164,597$3,912,935
91$5,025,594$574,438$110,005$4,241,058
92$5,476,205$540,587$51,691$4,601,309
93$5,970,826$503,123$0$4,996,956
94$6,513,883$461,809$0$5,433,179
95$7,110,255$416,393$0$5,920,719
96$7,765,312$366,608$0$6,456,255
97$8,484,975$312,173$0$7,044,646
98$9,275,763$252,790$0$7,691,248
99$10,144,859$188,144$0$8,401,959
100$11,100,175$117,905$0$9,183,283