Can I retire at age 66 with 694,000?

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 $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%15.3%
1 years$57,310$56,799$56,301$55,815$55,341$54,135
2 years$28,371$27,843$27,331$26,834$26,353$25,144
3 years$18,726$18,196$17,685$17,193$16,719$15,545
4 years$13,905$13,376$12,870$12,387$11,924$10,794
5 years$11,013$10,487$9,988$9,514$9,065$7,981
6 years$9,085$8,563$8,072$7,608$7,173$6,138
7 years$7,709$7,191$6,707$6,255$5,833$4,847
8 years$6,677$6,164$5,688$5,247$4,839$3,901
9 years$5,875$5,367$4,899$4,470$4,075$3,184
10 years$5,234$4,731$4,271$3,853$3,472$2,627
11 years$4,710$4,212$3,761$3,353$2,986$2,187
12 years$4,273$3,780$3,337$2,941$2,588$1,832
13 years$3,904$3,416$2,982$2,597$2,257$1,544
14 years$3,588$3,105$2,679$2,305$1,978$1,307
15 years$3,314$2,837$2,419$2,056$1,742$1,110
16 years$3,075$2,603$2,193$1,841$1,539$946
17 years$2,864$2,397$1,996$1,654$1,365$808
18 years$2,676$2,215$1,822$1,490$1,214$692
19 years$2,509$2,053$1,668$1,347$1,082$594
20 years$2,359$1,907$1,531$1,220$966$510
21 years$2,223$1,777$1,408$1,107$865$439
22 years$2,099$1,658$1,297$1,006$775$378
23 years$1,987$1,551$1,198$917$696$326
24 years$1,884$1,453$1,108$836$625$281
25 years$1,789$1,364$1,026$763$563$243
26 years$1,702$1,282$952$698$507$210
27 years$1,621$1,206$884$639$457$181
28 years$1,547$1,137$822$585$412$157
29 years$1,477$1,072$765$537$372$136
30 years$1,413$1,013$712$493$336$117
31 years$1,352$957$664$453$304$102
32 years$1,296$906$619$416$275$88
33 years$1,243$858$578$382$249$76
34 years$1,193$813$540$352$225$66
35 years$1,146$771$505$324$204$57
36 years$1,102$732$473$298$185$50
37 years$1,061$695$442$275$168$43
38 years$1,021$661$414$253$152$37
39 years$984$628$388$234$138$32
40 years$949$598$364$215$125$28
41 years$915$569$341$199$113$24
42 years$884$542$320$183$103$21
43 years$853$516$300$169$93$18
44 years$825$492$282$156$85$16
45 years$797$469$265$144$77$14
46 years$771$448$249$133$70$12
47 years$746$427$234$123$63$10
48 years$722$408$219$114$58$9
49 years$699$389$206$105$52$8
50 years$678$372$194$97$48$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $694,000, adding $5,140 every year, while hoping to spend $24,166 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: 54/24/22 Blend
65$694,000$694,000$694,000$694,000
66$770,090$733,308$722,551$806,776
67$822,927$743,528$721,044$842,750
68$880,343$753,438$718,677$878,934
69$942,780$762,999$715,394$917,811
70$1,010,724$772,166$711,140$959,648
71$1,084,709$780,894$705,855$1,004,737
72$1,165,324$789,132$699,476$1,053,401
73$1,253,216$796,828$691,937$1,105,997
74$1,349,097$803,926$683,170$1,162,920
75$1,453,752$810,365$673,103$1,224,605
76$1,568,043$816,082$661,661$1,291,532
77$1,692,922$821,008$648,765$1,364,232
78$1,829,433$825,071$634,332$1,443,291
79$1,978,730$828,194$618,276$1,529,355
80$2,142,080$830,295$600,508$1,623,137
81$2,320,879$831,286$580,932$1,725,425
82$2,516,666$831,076$559,450$1,837,090
83$2,731,133$829,566$535,959$1,959,089
84$2,966,145$826,651$510,350$2,092,482
85$3,223,756$822,222$482,511$2,238,439
86$3,506,228$816,160$452,325$2,398,247
87$3,816,053$808,340$419,666$2,573,332
88$4,155,973$798,632$384,408$2,765,263
89$4,529,012$786,895$346,415$2,975,772
90$4,938,498$772,979$305,547$3,206,773
91$5,388,099$756,730$261,657$3,460,374
92$5,881,854$737,978$214,592$3,738,902
93$6,424,214$716,550$164,191$4,044,926
94$7,020,080$692,257$110,288$4,381,276
95$7,674,853$664,903$52,708$4,751,079
96$8,394,483$634,278$0$5,157,780
97$9,185,525$600,162$0$5,607,233
98$10,055,199$562,321$0$6,114,917
99$11,011,461$520,506$0$6,673,118
100$12,063,077$474,458$0$7,286,986