Can I retire at age 66 with 703,000?

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 $703,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$58,053$57,536$57,031$56,539$56,058$55,682
2 years$28,739$28,204$27,685$27,182$26,694$26,315
3 years$18,969$18,432$17,914$17,416$16,936$16,565
4 years$14,085$13,549$13,037$12,547$12,079$11,719
5 years$11,155$10,623$10,117$9,637$9,182$8,835
6 years$9,203$8,674$8,176$7,707$7,266$6,931
7 years$7,809$7,285$6,794$6,336$5,909$5,587
8 years$6,764$6,244$5,762$5,316$4,902$4,594
9 years$5,951$5,437$4,963$4,528$4,128$3,833
10 years$5,302$4,792$4,327$3,903$3,517$3,235
11 years$4,771$4,266$3,809$3,397$3,025$2,755
12 years$4,328$3,829$3,381$2,979$2,621$2,364
13 years$3,954$3,460$3,020$2,630$2,286$2,041
14 years$3,634$3,145$2,714$2,335$2,004$1,770
15 years$3,357$2,873$2,450$2,082$1,764$1,542
16 years$3,115$2,636$2,221$1,864$1,559$1,349
17 years$2,901$2,428$2,021$1,675$1,383$1,183
18 years$2,711$2,244$1,845$1,510$1,229$1,040
19 years$2,542$2,079$1,689$1,364$1,096$917
20 years$2,389$1,932$1,550$1,236$979$809
21 years$2,252$1,800$1,426$1,121$876$716
22 years$2,127$1,680$1,314$1,020$785$634
23 years$2,013$1,571$1,214$928$705$563
24 years$1,908$1,472$1,122$847$633$500
25 years$1,812$1,382$1,039$773$570$444
26 years$1,724$1,298$964$707$513$395
27 years$1,643$1,222$895$647$463$352
28 years$1,567$1,151$832$593$418$313
29 years$1,497$1,086$774$544$377$279
30 years$1,431$1,026$721$499$341$249
31 years$1,370$970$673$458$308$222
32 years$1,313$918$627$421$279$199
33 years$1,259$869$586$387$252$177
34 years$1,209$824$547$356$228$159
35 years$1,161$781$512$328$207$142
36 years$1,117$741$479$302$187$127
37 years$1,074$704$448$278$170$113
38 years$1,035$669$420$257$154$101
39 years$997$636$393$237$140$91
40 years$961$605$369$218$127$81
41 years$927$576$346$201$115$73
42 years$895$549$324$186$104$65
43 years$864$523$304$172$95$58
44 years$835$499$286$158$86$52
45 years$807$475$268$146$78$47
46 years$781$454$252$135$71$42
47 years$756$433$237$125$64$37
48 years$732$413$222$115$58$33
49 years$708$395$209$107$53$30
50 years$686$377$196$99$48$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $703,000, adding $3,958 every year, while hoping to spend $48,581 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: 38/45/17 Blend
65$703,000$703,000$703,000$703,000
66$778,789$741,530$730,633$804,262
67$806,535$726,175$703,420$807,560
68$835,484$708,439$673,666$806,192
69$865,706$688,155$641,236$803,686
70$897,278$665,145$605,988$799,968
71$930,283$639,220$567,771$794,955
72$964,812$610,182$526,432$788,566
73$1,000,961$577,819$481,805$780,713
74$1,038,836$541,909$433,723$771,305
75$1,078,551$502,217$382,007$760,248
76$1,120,231$458,493$326,471$747,443
77$1,164,010$410,474$266,923$732,790
78$1,210,033$357,882$203,160$716,181
79$1,258,461$300,422$134,970$697,509
80$1,309,466$237,785$62,134$676,660
81$1,363,237$169,642$0$653,518
82$1,419,979$95,646$0$630,793
83$1,479,916$15,432$0$617,744
84$1,543,292$0$0$603,008
85$1,610,373$0$0$621,854
86$1,681,452$0$0$649,965
87$1,756,845$0$0$679,831
88$1,836,901$0$0$711,595
89$1,922,000$0$0$745,416
90$2,012,557$0$0$781,466
91$2,109,029$0$0$819,933
92$2,211,913$0$0$861,024
93$2,321,756$0$0$904,967
94$2,439,156$0$0$952,010
95$2,564,769$0$0$1,002,425
96$2,699,314$0$0$1,056,512
97$2,843,580$0$0$1,114,598
98$2,998,433$0$0$1,177,045
99$3,164,823$0$0$1,244,247
100$3,343,792$0$0$1,316,639