Can I retire at age 66 with 696,000?

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 $696,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$57,475$56,963$56,464$55,976$55,500$54,005
2 years$28,453$27,923$27,410$26,912$26,429$24,933
3 years$18,780$18,248$17,736$17,243$16,767$15,318
4 years$13,945$13,414$12,907$12,422$11,959$10,567
5 years$11,044$10,517$10,016$9,541$9,091$7,760
6 years$9,111$8,588$8,095$7,630$7,193$5,925
7 years$7,731$7,212$6,727$6,273$5,850$4,645
8 years$6,696$6,182$5,705$5,263$4,853$3,710
9 years$5,892$5,383$4,914$4,483$4,087$3,005
10 years$5,249$4,745$4,284$3,864$3,482$2,459
11 years$4,723$4,224$3,771$3,363$2,995$2,030
12 years$4,285$3,791$3,347$2,950$2,595$1,687
13 years$3,915$3,426$2,990$2,604$2,263$1,409
14 years$3,598$3,114$2,687$2,312$1,984$1,182
15 years$3,324$2,845$2,426$2,062$1,747$995
16 years$3,084$2,610$2,199$1,846$1,544$840
17 years$2,872$2,404$2,001$1,659$1,369$711
18 years$2,684$2,221$1,827$1,495$1,217$603
19 years$2,516$2,059$1,673$1,351$1,085$512
20 years$2,365$1,913$1,535$1,223$969$436
21 years$2,229$1,782$1,412$1,110$867$371
22 years$2,105$1,663$1,301$1,009$777$316
23 years$1,993$1,556$1,201$919$698$270
24 years$1,889$1,458$1,111$838$627$231
25 years$1,794$1,368$1,029$766$564$197
26 years$1,707$1,286$954$700$508$168
27 years$1,626$1,210$886$641$458$144
28 years$1,551$1,140$824$587$414$123
29 years$1,482$1,075$767$538$373$106
30 years$1,417$1,016$714$494$337$90
31 years$1,356$960$666$454$305$77
32 years$1,300$908$621$417$276$66
33 years$1,246$860$580$384$250$57
34 years$1,197$815$542$353$226$49
35 years$1,150$773$507$325$205$42
36 years$1,105$734$474$299$186$36
37 years$1,064$697$444$276$168$31
38 years$1,024$663$415$254$152$26
39 years$987$630$389$234$138$23
40 years$952$599$365$216$125$19
41 years$918$571$342$199$114$17
42 years$886$543$321$184$103$14
43 years$856$518$301$170$94$12
44 years$827$494$283$157$85$10
45 years$799$471$265$145$77$9
46 years$773$449$249$134$70$8
47 years$748$428$234$124$64$7
48 years$724$409$220$114$58$6
49 years$701$391$207$106$52$5
50 years$680$373$194$98$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $696,000, adding $4,668 every year, while hoping to spend $31,040 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: 53/17/30 Blend
65$696,000$696,000$696,000$696,000
66$771,807$734,919$724,131$806,008
67$817,505$737,904$715,363$833,253
68$866,824$739,994$705,261$859,374
69$920,100$741,114$693,748$887,199
70$977,704$741,182$680,742$916,902
71$1,040,041$740,112$666,158$948,681
72$1,107,559$737,811$649,908$982,753
73$1,180,749$734,183$631,899$1,019,357
74$1,260,152$729,124$612,034$1,058,762
75$1,346,360$722,524$590,210$1,101,264
76$1,440,029$714,268$566,322$1,147,190
77$1,541,877$704,232$540,259$1,196,904
78$1,652,694$692,285$511,903$1,250,809
79$1,773,352$678,290$481,135$1,309,351
80$1,904,808$662,100$447,827$1,373,023
81$2,048,114$643,559$411,845$1,442,374
82$2,204,433$622,504$373,053$1,518,007
83$2,375,039$598,761$331,304$1,600,593
84$2,561,338$572,145$286,448$1,690,872
85$2,764,877$542,463$238,326$1,789,666
86$2,987,359$509,508$186,775$1,897,880
87$3,230,659$473,064$131,621$2,016,518
88$3,496,841$432,898$72,685$2,146,688
89$3,788,178$388,770$9,779$2,289,618
90$4,107,173$340,421$0$2,446,662
91$4,456,583$287,579$0$2,637,677
92$4,839,443$229,959$0$2,850,494
93$5,259,095$167,256$0$3,083,878
94$5,719,222$99,151$0$3,339,920
95$6,223,878$25,305$0$3,620,930
96$6,777,530$0$0$3,929,451
97$7,385,097$0$0$4,278,509
98$8,051,999$0$0$4,666,922
99$8,784,203$0$0$5,093,442
100$9,588,286$0$0$5,561,907