Can I retire at age 66 with 702,000?

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 $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%14.9%
1 years$57,971$57,454$56,950$56,459$55,978$54,848
2 years$28,698$28,164$27,646$27,144$26,656$25,523
3 years$18,942$18,405$17,889$17,391$16,912$15,810
4 years$14,065$13,530$13,018$12,529$12,062$11,000
5 years$11,140$10,608$10,103$9,624$9,169$8,151
6 years$9,190$8,662$8,165$7,696$7,255$6,282
7 years$7,798$7,274$6,785$6,327$5,900$4,971
8 years$6,754$6,235$5,754$5,308$4,895$4,010
9 years$5,943$5,429$4,956$4,521$4,122$3,282
10 years$5,294$4,785$4,321$3,897$3,512$2,715
11 years$4,764$4,260$3,804$3,392$3,021$2,265
12 years$4,322$3,824$3,376$2,975$2,618$1,903
13 years$3,949$3,456$3,016$2,627$2,283$1,608
14 years$3,629$3,141$2,710$2,332$2,001$1,364
15 years$3,352$2,869$2,447$2,079$1,762$1,162
16 years$3,110$2,633$2,218$1,862$1,557$993
17 years$2,897$2,424$2,019$1,673$1,381$851
18 years$2,707$2,240$1,843$1,508$1,228$731
19 years$2,538$2,076$1,687$1,362$1,094$629
20 years$2,386$1,929$1,548$1,234$977$542
21 years$2,248$1,797$1,424$1,120$875$468
22 years$2,124$1,678$1,312$1,018$784$404
23 years$2,010$1,569$1,212$927$704$349
24 years$1,906$1,470$1,121$846$633$302
25 years$1,810$1,380$1,038$772$569$262
26 years$1,722$1,297$963$706$513$227
27 years$1,640$1,220$894$646$462$197
28 years$1,565$1,150$831$592$417$171
29 years$1,494$1,085$773$543$377$148
30 years$1,429$1,024$720$498$340$129
31 years$1,368$968$672$458$308$112
32 years$1,311$916$627$421$278$97
33 years$1,257$868$585$387$252$84
34 years$1,207$822$547$356$228$73
35 years$1,160$780$511$328$207$64
36 years$1,115$740$478$302$187$55
37 years$1,073$703$447$278$170$48
38 years$1,033$668$419$256$154$42
39 years$995$635$393$236$139$36
40 years$960$605$368$218$126$32
41 years$926$576$345$201$115$28
42 years$894$548$324$186$104$24
43 years$863$522$304$171$94$21
44 years$834$498$285$158$86$18
45 years$806$475$268$146$78$16
46 years$780$453$251$135$71$14
47 years$755$432$236$125$64$12
48 years$731$413$222$115$58$10
49 years$707$394$209$106$53$9
50 years$685$376$196$98$48$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $702,000, adding $5,272 every year, while hoping to spend $21,065 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: 66/8/26 Blend
65$702,000$702,000$702,000$702,000
66$779,042$741,836$730,955$824,848
67$836,091$755,773$733,029$870,295
68$898,254$769,687$734,467$917,117
69$966,028$783,554$735,224$967,836
70$1,039,965$797,350$735,255$1,022,838
71$1,120,668$811,047$734,513$1,082,547
72$1,208,803$824,616$732,947$1,147,431
73$1,305,104$838,025$730,504$1,218,008
74$1,410,378$851,241$727,128$1,294,845
75$1,525,512$864,227$722,762$1,378,571
76$1,651,484$876,945$717,345$1,469,878
77$1,789,373$889,352$710,814$1,569,527
78$1,940,364$901,405$703,101$1,678,362
79$2,105,762$913,055$694,136$1,797,308
80$2,287,007$924,252$683,847$1,927,387
81$2,485,682$934,941$672,156$2,069,728
82$2,703,533$945,064$658,984$2,225,572
83$2,942,479$954,558$644,246$2,396,289
84$3,204,639$963,358$627,855$2,583,390
85$3,492,343$971,394$609,719$2,788,539
86$3,808,159$978,589$589,742$3,013,573
87$4,154,915$984,864$567,822$3,260,514
88$4,535,728$990,134$543,856$3,531,594
89$4,954,029$994,307$517,732$3,829,272
90$5,413,601$997,289$489,336$4,156,259
91$5,918,607$998,976$458,549$4,515,544
92$6,473,639$999,259$425,244$4,910,423
93$7,083,750$998,023$389,290$5,344,527
94$7,754,512$995,145$350,550$5,821,860
95$8,492,060$990,495$308,881$6,346,838
96$9,303,156$983,935$264,135$6,924,324
97$10,195,248$975,318$216,153$7,559,683
98$11,176,543$964,489$164,774$8,258,827
99$12,256,084$951,282$109,828$9,028,273
100$13,443,834$935,524$51,136$9,875,205