Can I retire at age 66 with 704,000?

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 $704,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$58,136$57,618$57,113$56,619$56,138$54,848
2 years$28,780$28,244$27,725$27,221$26,732$25,440
3 years$18,996$18,458$17,940$17,441$16,960$15,705
4 years$14,105$13,568$13,055$12,565$12,096$10,889
5 years$11,171$10,638$10,132$9,651$9,195$8,039
6 years$9,216$8,687$8,188$7,718$7,276$6,171
7 years$7,820$7,295$6,804$6,345$5,917$4,865
8 years$6,773$6,253$5,770$5,323$4,909$3,909
9 years$5,960$5,444$4,970$4,534$4,134$3,185
10 years$5,309$4,799$4,333$3,908$3,522$2,623
11 years$4,777$4,272$3,815$3,401$3,029$2,179
12 years$4,335$3,835$3,385$2,984$2,625$1,822
13 years$3,960$3,465$3,025$2,634$2,289$1,532
14 years$3,639$3,150$2,718$2,338$2,007$1,294
15 years$3,362$2,877$2,454$2,085$1,767$1,097
16 years$3,119$2,640$2,225$1,867$1,562$933
17 years$2,905$2,431$2,024$1,678$1,385$795
18 years$2,715$2,247$1,848$1,512$1,231$680
19 years$2,545$2,082$1,692$1,366$1,097$582
20 years$2,393$1,935$1,553$1,237$980$499
21 years$2,255$1,802$1,428$1,123$877$428
22 years$2,130$1,682$1,316$1,021$786$368
23 years$2,015$1,573$1,215$930$706$316
24 years$1,911$1,474$1,124$848$634$272
25 years$1,815$1,384$1,041$774$571$234
26 years$1,727$1,300$965$708$514$202
27 years$1,645$1,224$897$648$464$174
28 years$1,569$1,153$833$594$418$150
29 years$1,499$1,088$776$545$378$130
30 years$1,433$1,027$722$500$341$112
31 years$1,372$971$673$459$309$97
32 years$1,314$919$628$422$279$84
33 years$1,261$870$587$388$253$72
34 years$1,210$825$548$357$229$62
35 years$1,163$782$513$329$207$54
36 years$1,118$743$479$303$188$47
37 years$1,076$705$449$279$170$40
38 years$1,036$670$420$257$154$35
39 years$998$637$394$237$140$30
40 years$962$606$369$219$127$26
41 years$929$577$346$202$115$22
42 years$896$550$325$186$104$19
43 years$866$524$305$172$95$17
44 years$836$499$286$159$86$15
45 years$809$476$268$146$78$13
46 years$782$454$252$135$71$11
47 years$757$433$237$125$64$9
48 years$733$414$223$116$58$8
49 years$709$395$209$107$53$7
50 years$687$377$197$99$48$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $704,000, adding $3,376 every year, while hoping to spend $35,485 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: 54/30/16 Blend
65$704,000$704,000$704,000$704,000
66$779,290$741,978$731,066$817,868
67$821,022$740,580$717,801$843,167
68$865,821$737,923$702,903$866,616
69$913,963$733,909$686,278$891,344
70$965,750$728,434$667,831$917,483
71$1,021,514$721,384$647,461$945,178
72$1,081,620$712,643$625,062$974,592
73$1,146,467$702,085$600,524$1,005,906
74$1,216,497$689,577$573,731$1,039,320
75$1,292,192$674,978$544,563$1,075,058
76$1,374,083$658,140$512,894$1,113,368
77$1,462,755$638,904$478,591$1,154,528
78$1,558,850$617,105$441,518$1,198,843
79$1,663,074$592,564$401,530$1,246,655
80$1,776,202$565,095$358,477$1,298,341
81$1,899,091$534,500$312,201$1,354,323
82$2,032,678$500,570$262,539$1,415,066
83$2,177,997$463,084$209,320$1,481,088
84$2,336,185$421,807$152,365$1,552,961
85$2,508,493$376,493$91,487$1,631,322
86$2,696,298$326,880$26,490$1,716,877
87$2,901,115$272,693$0$1,810,405
88$3,124,613$213,638$0$1,920,093
89$3,368,626$149,409$0$2,044,881
90$3,635,175$79,679$0$2,181,343
91$3,926,485$4,106$0$2,330,694
92$4,245,005$0$0$2,494,277
93$4,593,432$0$0$2,699,218
94$4,974,735$0$0$2,925,045
95$5,392,183$0$0$3,172,348
96$5,849,377$0$0$3,443,267
97$6,350,280$0$0$3,740,161
98$6,899,261$0$0$4,065,627
99$7,501,127$0$0$4,422,526
100$8,161,174$0$0$4,814,008