Can I retire at age 66 with 706,000?

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 $706,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$58,301$57,782$57,275$56,780$56,297$54,583
2 years$28,862$28,324$27,803$27,298$26,808$25,096
3 years$19,050$18,510$17,991$17,490$17,008$15,351
4 years$14,145$13,607$13,093$12,601$12,130$10,542
5 years$11,203$10,668$10,160$9,679$9,221$7,705
6 years$9,242$8,711$8,211$7,740$7,297$5,854
7 years$7,842$7,316$6,823$6,364$5,934$4,566
8 years$6,793$6,271$5,787$5,338$4,923$3,627
9 years$5,977$5,460$4,984$4,547$4,146$2,922
10 years$5,324$4,813$4,345$3,920$3,532$2,378
11 years$4,791$4,284$3,826$3,411$3,038$1,952
12 years$4,347$3,845$3,395$2,992$2,633$1,612
13 years$3,971$3,475$3,033$2,642$2,296$1,338
14 years$3,650$3,159$2,725$2,345$2,012$1,116
15 years$3,371$2,886$2,461$2,091$1,772$933
16 years$3,128$2,648$2,231$1,872$1,566$783
17 years$2,913$2,438$2,030$1,682$1,389$658
18 years$2,723$2,253$1,853$1,516$1,235$555
19 years$2,553$2,088$1,697$1,370$1,100$468
20 years$2,399$1,940$1,557$1,241$983$395
21 years$2,261$1,807$1,432$1,126$880$334
22 years$2,136$1,687$1,320$1,024$788$283
23 years$2,021$1,578$1,219$932$708$240
24 years$1,916$1,478$1,127$850$636$203
25 years$1,820$1,387$1,044$777$572$173
26 years$1,731$1,304$968$710$516$146
27 years$1,650$1,227$899$650$465$124
28 years$1,574$1,156$836$596$419$106
29 years$1,503$1,091$778$546$379$90
30 years$1,437$1,030$724$501$342$76
31 years$1,376$974$675$460$309$65
32 years$1,318$922$630$423$280$55
33 years$1,264$873$588$389$253$47
34 years$1,214$827$550$358$229$40
35 years$1,166$785$514$330$208$34
36 years$1,121$745$481$303$188$29
37 years$1,079$707$450$280$171$25
38 years$1,039$672$421$258$155$21
39 years$1,001$639$395$238$140$18
40 years$965$608$370$219$127$15
41 years$931$579$347$202$115$13
42 years$899$551$326$187$105$11
43 years$868$525$305$172$95$9
44 years$839$501$287$159$86$8
45 years$811$477$269$147$78$7
46 years$784$455$253$136$71$6
47 years$759$435$238$125$65$5
48 years$735$415$223$116$59$4
49 years$712$396$210$107$53$4
50 years$689$378$197$99$48$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $706,000, adding $3,584 every year, while hoping to spend $48,028 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: 63/24/13 Blend
65$706,000$706,000$706,000$706,000
66$781,709$744,291$733,348$828,324
67$810,342$729,660$706,814$845,358
68$840,286$712,702$677,781$858,106
69$871,623$693,253$646,115$870,845
70$904,444$671,138$611,676$883,575
71$938,847$646,173$574,316$896,296
72$974,936$618,162$533,882$909,014
73$1,012,827$586,899$490,214$921,733
74$1,052,643$552,166$443,145$934,463
75$1,094,521$513,730$392,498$947,217
76$1,138,608$471,348$338,092$960,010
77$1,185,063$424,761$279,736$972,864
78$1,234,061$373,697$217,229$985,804
79$1,285,794$317,866$150,364$998,862
80$1,340,467$256,964$78,924$1,012,077
81$1,398,309$190,669$2,682$1,025,493
82$1,459,565$118,640$0$1,039,166
83$1,524,506$40,519$0$1,064,074
84$1,593,427$0$0$1,090,483
85$1,666,651$0$0$1,129,785
86$1,744,530$0$0$1,182,993
87$1,827,452$0$0$1,239,675
88$1,915,838$0$0$1,300,123
89$2,010,153$0$0$1,364,658
90$2,110,902$0$0$1,433,631
91$2,218,643$0$0$1,507,427
92$2,333,986$0$0$1,586,468
93$2,457,598$0$0$1,671,219
94$2,590,213$0$0$1,762,186
95$2,732,636$0$0$1,859,927
96$2,885,750$0$0$1,965,055
97$3,050,525$0$0$2,078,242
98$3,228,025$0$0$2,200,226
99$3,419,421$0$0$2,331,817
100$3,625,996$0$0$2,473,906