Can I retire at age 66 with 703,000?

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 $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%17.7%
1 years$58,053$57,536$57,031$56,539$56,058$54,307
2 years$28,739$28,204$27,685$27,182$26,694$24,946
3 years$18,969$18,432$17,914$17,416$16,936$15,245
4 years$14,085$13,549$13,037$12,547$12,079$10,458
5 years$11,155$10,623$10,117$9,637$9,182$7,636
6 years$9,203$8,674$8,176$7,707$7,266$5,795
7 years$7,809$7,285$6,794$6,336$5,909$4,515
8 years$6,764$6,244$5,762$5,316$4,902$3,583
9 years$5,951$5,437$4,963$4,528$4,128$2,882
10 years$5,302$4,792$4,327$3,903$3,517$2,343
11 years$4,771$4,266$3,809$3,397$3,025$1,920
12 years$4,328$3,829$3,381$2,979$2,621$1,584
13 years$3,954$3,460$3,020$2,630$2,286$1,313
14 years$3,634$3,145$2,714$2,335$2,004$1,093
15 years$3,357$2,873$2,450$2,082$1,764$913
16 years$3,115$2,636$2,221$1,864$1,559$765
17 years$2,901$2,428$2,021$1,675$1,383$642
18 years$2,711$2,244$1,845$1,510$1,229$540
19 years$2,542$2,079$1,689$1,364$1,096$455
20 years$2,389$1,932$1,550$1,236$979$384
21 years$2,252$1,800$1,426$1,121$876$324
22 years$2,127$1,680$1,314$1,020$785$274
23 years$2,013$1,571$1,214$928$705$232
24 years$1,908$1,472$1,122$847$633$196
25 years$1,812$1,382$1,039$773$570$166
26 years$1,724$1,298$964$707$513$141
27 years$1,643$1,222$895$647$463$119
28 years$1,567$1,151$832$593$418$101
29 years$1,497$1,086$774$544$377$86
30 years$1,431$1,026$721$499$341$73
31 years$1,370$970$673$458$308$62
32 years$1,313$918$627$421$279$53
33 years$1,259$869$586$387$252$45
34 years$1,209$824$547$356$228$38
35 years$1,161$781$512$328$207$32
36 years$1,117$741$479$302$187$27
37 years$1,074$704$448$278$170$23
38 years$1,035$669$420$257$154$20
39 years$997$636$393$237$140$17
40 years$961$605$369$218$127$14
41 years$927$576$346$201$115$12
42 years$895$549$324$186$104$10
43 years$864$523$304$172$95$9
44 years$835$499$286$158$86$7
45 years$807$475$268$146$78$6
46 years$781$454$252$135$71$5
47 years$756$433$237$125$64$5
48 years$732$413$222$115$58$4
49 years$708$395$209$107$53$3
50 years$686$377$196$99$48$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $703,000, adding $2,386 every year, while hoping to spend $52,525 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: 82/12/6 Blend
65$703,000$703,000$703,000$703,000
66$777,167$739,908$729,012$840,400
67$800,552$720,277$697,547$862,450
68$824,562$697,924$663,269$879,367
69$849,205$672,660$626,026$896,312
70$874,488$644,285$585,662$913,256
71$900,418$612,587$542,014$930,167
72$927,000$577,344$494,911$947,013
73$954,238$538,317$444,174$963,756
74$982,133$495,258$389,617$980,354
75$1,010,687$447,902$331,046$996,763
76$1,039,897$395,969$268,255$1,012,934
77$1,069,759$339,164$201,035$1,028,813
78$1,100,267$277,175$129,161$1,044,340
79$1,131,410$209,673$52,404$1,059,452
80$1,163,175$136,308$0$1,074,078
81$1,195,547$56,715$0$1,090,030
82$1,228,502$0$0$1,109,038
83$1,262,016$0$0$1,131,563
84$1,296,056$0$0$1,162,044
85$1,330,586$0$0$1,192,960
86$1,365,562$0$0$1,224,269
87$1,400,932$0$0$1,255,924
88$1,436,636$0$0$1,287,872
89$1,472,605$0$0$1,320,050
90$1,508,760$0$0$1,352,386
91$1,545,011$0$0$1,384,797
92$1,581,253$0$0$1,417,190
93$1,617,370$0$0$1,449,458
94$1,653,227$0$0$1,481,481
95$1,688,675$0$0$1,513,121
96$1,723,543$0$0$1,544,225
97$1,757,641$0$0$1,574,620
98$1,790,753$0$0$1,604,111
99$1,822,638$0$0$1,632,480
100$1,853,026$0$0$1,659,483