Can I retire at age 66 with 702,000?

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 $702,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$57,971$57,454$56,950$56,459$55,978$54,449
2 years$28,698$28,164$27,646$27,144$26,656$25,126
3 years$18,942$18,405$17,889$17,391$16,912$15,429
4 years$14,065$13,530$13,018$12,529$12,062$10,638
5 years$11,140$10,608$10,103$9,624$9,169$7,809
6 years$9,190$8,662$8,165$7,696$7,255$5,959
7 years$7,798$7,274$6,785$6,327$5,900$4,668
8 years$6,754$6,235$5,754$5,308$4,895$3,727
9 years$5,943$5,429$4,956$4,521$4,122$3,016
10 years$5,294$4,785$4,321$3,897$3,512$2,468
11 years$4,764$4,260$3,804$3,392$3,021$2,035
12 years$4,322$3,824$3,376$2,975$2,618$1,690
13 years$3,949$3,456$3,016$2,627$2,283$1,411
14 years$3,629$3,141$2,710$2,332$2,001$1,183
15 years$3,352$2,869$2,447$2,079$1,762$995
16 years$3,110$2,633$2,218$1,862$1,557$839
17 years$2,897$2,424$2,019$1,673$1,381$710
18 years$2,707$2,240$1,843$1,508$1,228$602
19 years$2,538$2,076$1,687$1,362$1,094$511
20 years$2,386$1,929$1,548$1,234$977$434
21 years$2,248$1,797$1,424$1,120$875$369
22 years$2,124$1,678$1,312$1,018$784$315
23 years$2,010$1,569$1,212$927$704$268
24 years$1,906$1,470$1,121$846$633$229
25 years$1,810$1,380$1,038$772$569$196
26 years$1,722$1,297$963$706$513$167
27 years$1,640$1,220$894$646$462$143
28 years$1,565$1,150$831$592$417$122
29 years$1,494$1,085$773$543$377$104
30 years$1,429$1,024$720$498$340$89
31 years$1,368$968$672$458$308$76
32 years$1,311$916$627$421$278$65
33 years$1,257$868$585$387$252$56
34 years$1,207$822$547$356$228$48
35 years$1,160$780$511$328$207$41
36 years$1,115$740$478$302$187$35
37 years$1,073$703$447$278$170$30
38 years$1,033$668$419$256$154$26
39 years$995$635$393$236$139$22
40 years$960$605$368$218$126$19
41 years$926$576$345$201$115$16
42 years$894$548$324$186$104$14
43 years$863$522$304$171$94$12
44 years$834$498$285$158$86$10
45 years$806$475$268$146$78$9
46 years$780$453$251$135$71$7
47 years$755$432$236$125$64$6
48 years$731$413$222$115$58$5
49 years$707$394$209$106$53$5
50 years$685$376$196$98$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $702,000, adding $4,092 every year, while hoping to spend $47,593 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: 74/16/10 Blend
65$702,000$702,000$702,000$702,000
66$777,825$740,619$729,738$833,659
67$806,524$726,271$703,546$856,702
68$836,556$709,624$674,881$875,574
69$868,006$690,517$643,610$894,925
70$900,966$668,776$609,595$914,786
71$935,538$644,219$572,689$935,194
72$971,830$616,653$532,742$956,191
73$1,009,961$585,874$489,593$977,822
74$1,050,061$551,665$443,078$1,000,140
75$1,092,268$513,798$393,022$1,023,202
76$1,136,737$472,031$339,246$1,047,075
77$1,183,632$426,109$281,559$1,071,830
78$1,233,136$375,761$219,764$1,097,551
79$1,285,446$320,703$153,656$1,124,330
80$1,340,776$260,633$83,019$1,152,269
81$1,399,364$195,232$7,628$1,181,484
82$1,461,464$124,164$0$1,212,104
83$1,527,359$47,074$0$1,252,044
84$1,597,356$0$0$1,295,069
85$1,671,789$0$0$1,346,981
86$1,751,027$0$0$1,411,084
87$1,835,472$0$0$1,479,416
88$1,925,564$0$0$1,552,337
89$2,021,786$0$0$1,630,240
90$2,124,667$0$0$1,713,555
91$2,234,787$0$0$1,802,755
92$2,352,780$0$0$1,898,357
93$2,479,346$0$0$2,000,929
94$2,615,249$0$0$2,111,096
95$2,761,328$0$0$2,229,541
96$2,918,507$0$0$2,357,016
97$3,087,797$0$0$2,494,344
98$3,270,309$0$0$2,642,433
99$3,467,266$0$0$2,802,278
100$3,680,009$0$0$2,974,972