Can I retire at age 66 with 709,000?

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 $709,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$58,549$58,027$57,518$57,022$56,537$54,531
2 years$28,984$28,445$27,921$27,414$26,922$24,923
3 years$19,131$18,589$18,067$17,565$17,081$15,150
4 years$14,205$13,665$13,148$12,654$12,182$10,336
5 years$11,251$10,713$10,204$9,720$9,261$7,503
6 years$9,281$8,748$8,246$7,773$7,328$5,660
7 years$7,875$7,347$6,852$6,391$5,959$4,382
8 years$6,821$6,298$5,811$5,361$4,944$3,455
9 years$6,002$5,483$5,005$4,566$4,163$2,761
10 years$5,347$4,833$4,364$3,936$3,547$2,229
11 years$4,811$4,303$3,842$3,426$3,051$1,814
12 years$4,365$3,862$3,410$3,005$2,644$1,485
13 years$3,988$3,490$3,046$2,653$2,305$1,222
14 years$3,665$3,172$2,737$2,355$2,021$1,010
15 years$3,386$2,898$2,471$2,100$1,779$837
16 years$3,141$2,659$2,240$1,880$1,573$695
17 years$2,926$2,449$2,039$1,690$1,394$579
18 years$2,734$2,263$1,861$1,523$1,240$483
19 years$2,563$2,097$1,704$1,376$1,105$404
20 years$2,410$1,949$1,564$1,246$987$338
21 years$2,271$1,815$1,438$1,131$883$283
22 years$2,145$1,694$1,326$1,028$792$237
23 years$2,030$1,585$1,224$936$711$199
24 years$1,925$1,485$1,132$854$639$167
25 years$1,828$1,393$1,048$780$575$140
26 years$1,739$1,310$972$713$518$118
27 years$1,657$1,232$903$653$467$99
28 years$1,580$1,161$839$598$421$83
29 years$1,509$1,096$781$548$380$70
30 years$1,443$1,035$728$503$344$59
31 years$1,382$978$678$462$311$49
32 years$1,324$925$633$425$281$42
33 years$1,270$876$591$391$254$35
34 years$1,219$831$552$359$230$29
35 years$1,171$788$516$331$209$25
36 years$1,126$748$483$305$189$21
37 years$1,084$710$452$281$171$18
38 years$1,043$675$423$259$155$15
39 years$1,005$642$397$239$141$12
40 years$969$611$372$220$128$10
41 years$935$581$348$203$116$9
42 years$903$554$327$187$105$7
43 years$872$527$307$173$95$6
44 years$842$503$288$160$87$5
45 years$814$479$270$148$79$4
46 years$788$457$254$136$71$4
47 years$762$436$239$126$65$3
48 years$738$417$224$116$59$3
49 years$715$398$211$108$53$2
50 years$692$380$198$99$49$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $709,000, adding $3,828 every year, while hoping to spend $50,187 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: 64/30/6 Blend
65$709,000$709,000$709,000$709,000
66$785,267$747,690$736,700$834,490
67$811,965$730,928$707,981$850,966
68$839,705$711,663$676,618$862,660
69$868,539$689,718$642,469$874,116
70$898,525$664,909$605,386$885,304
71$929,723$637,038$565,215$896,196
72$962,199$605,898$521,794$906,765
73$996,024$571,267$474,954$916,979
74$1,031,272$532,913$424,519$926,807
75$1,068,026$490,590$370,305$936,220
76$1,106,373$444,037$312,119$945,183
77$1,146,408$392,980$249,759$953,667
78$1,188,233$337,127$183,017$961,638
79$1,231,957$276,171$111,674$969,063
80$1,277,702$209,788$35,499$975,912
81$1,325,595$137,635$0$982,151
82$1,375,776$59,350$0$990,684
83$1,428,398$0$0$1,001,164
84$1,483,624$0$0$1,019,707
85$1,541,633$0$0$1,059,780
86$1,602,620$0$0$1,101,926
87$1,666,795$0$0$1,146,294
88$1,734,389$0$0$1,193,045
89$1,805,651$0$0$1,242,353
90$1,880,853$0$0$1,294,411
91$1,960,294$0$0$1,349,427
92$2,044,296$0$0$1,407,629
93$2,133,215$0$0$1,469,265
94$2,227,436$0$0$1,534,607
95$2,327,381$0$0$1,603,951
96$2,433,513$0$0$1,677,622
97$2,546,335$0$0$1,755,975
98$2,666,400$0$0$1,839,397
99$2,794,312$0$0$1,928,315
100$2,930,733$0$0$2,023,193