Can I retire at age 66 with 699,000?

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 $699,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$57,723$57,209$56,707$56,217$55,739$54,348
2 years$28,576$28,043$27,528$27,028$26,542$25,149
3 years$18,861$18,327$17,812$17,317$16,840$15,488
4 years$14,005$13,472$12,963$12,476$12,010$10,711
5 years$11,092$10,562$10,060$9,583$9,130$7,887
6 years$9,151$8,625$8,130$7,663$7,224$6,039
7 years$7,764$7,243$6,756$6,300$5,875$4,747
8 years$6,725$6,209$5,729$5,285$4,874$3,803
9 years$5,917$5,406$4,935$4,502$4,105$3,089
10 years$5,272$4,765$4,302$3,881$3,497$2,537
11 years$4,744$4,242$3,788$3,377$3,008$2,100
12 years$4,304$3,807$3,361$2,962$2,607$1,751
13 years$3,932$3,441$3,003$2,615$2,273$1,467
14 years$3,614$3,128$2,698$2,322$1,992$1,235
15 years$3,338$2,857$2,436$2,070$1,754$1,043
16 years$3,097$2,621$2,209$1,854$1,550$884
17 years$2,884$2,414$2,010$1,666$1,375$751
18 years$2,696$2,231$1,835$1,501$1,222$639
19 years$2,527$2,067$1,680$1,356$1,090$545
20 years$2,376$1,921$1,542$1,228$973$465
21 years$2,239$1,789$1,418$1,115$871$398
22 years$2,114$1,670$1,307$1,014$781$341
23 years$2,001$1,562$1,207$923$701$292
24 years$1,897$1,464$1,116$842$630$250
25 years$1,802$1,374$1,034$769$567$215
26 years$1,714$1,291$959$703$511$184
27 years$1,633$1,215$890$644$460$158
28 years$1,558$1,145$827$590$415$136
29 years$1,488$1,080$770$541$375$117
30 years$1,423$1,020$717$496$339$100
31 years$1,362$964$669$456$306$86
32 years$1,305$912$624$419$277$74
33 years$1,252$864$583$385$251$64
34 years$1,202$819$544$354$227$55
35 years$1,155$777$509$326$206$47
36 years$1,110$737$476$300$186$41
37 years$1,068$700$446$277$169$35
38 years$1,029$665$417$255$153$30
39 years$991$633$391$235$139$26
40 years$956$602$366$217$126$22
41 years$922$573$344$200$114$19
42 years$890$546$322$185$104$17
43 years$859$520$302$171$94$14
44 years$831$496$284$157$85$12
45 years$803$473$267$145$78$11
46 years$777$451$250$134$70$9
47 years$751$430$235$124$64$8
48 years$727$411$221$115$58$7
49 years$704$392$208$106$53$6
50 years$682$375$195$98$48$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $699,000, adding $4,679 every year, while hoping to spend $57,295 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: 64/11/25 Blend
65$699,000$699,000$699,000$699,000
66$775,124$738,077$727,243$819,366
67$793,226$713,282$690,644$825,016
68$811,253$685,351$650,899$824,390
69$829,138$654,071$607,842$822,426
70$846,805$619,214$561,299$819,000
71$864,166$580,543$511,089$813,975
72$881,123$537,802$457,023$807,206
73$897,568$490,725$398,904$798,533
74$913,378$439,028$336,525$787,783
75$928,414$382,412$269,670$774,770
76$942,523$320,561$198,114$759,290
77$955,532$253,140$121,623$741,123
78$967,250$179,797$39,951$720,029
79$977,462$100,160$0$695,748
80$985,929$13,834$0$680,591
81$992,386$0$0$673,849
82$996,538$0$0$674,229
83$998,055$0$0$674,398
84$996,573$0$0$672,423
85$991,686$0$0$668,018
86$982,945$0$0$660,864
87$969,850$0$0$650,608
88$951,850$0$0$636,860
89$928,330$0$0$619,186
90$898,611$0$0$597,107
91$861,943$0$0$570,091
92$817,492$0$0$537,549
93$764,338$0$0$498,832
94$701,461$0$0$453,218
95$627,734$0$0$399,913
96$541,911$0$0$338,035
97$442,613$0$0$266,611
98$328,318$0$0$184,566
99$197,343$0$0$90,711
100$47,827$0$0$0