Can I retire at age 66 with 710,000?

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 $710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$58,631$58,109$57,599$57,102$56,616$54,826
2 years$29,025$28,485$27,961$27,453$26,960$25,173
3 years$19,158$18,615$18,093$17,589$17,105$15,376
4 years$14,225$13,684$13,167$12,672$12,199$10,543
5 years$11,266$10,728$10,218$9,733$9,274$7,694
6 years$9,295$8,761$8,258$7,784$7,338$5,836
7 years$7,887$7,357$6,862$6,400$5,968$4,544
8 years$6,831$6,306$5,820$5,368$4,951$3,604
9 years$6,011$5,491$5,012$4,573$4,169$2,897
10 years$5,355$4,840$4,370$3,942$3,552$2,354
11 years$4,818$4,309$3,847$3,430$3,055$1,928
12 years$4,372$3,867$3,414$3,009$2,648$1,589
13 years$3,994$3,495$3,050$2,656$2,309$1,317
14 years$3,670$3,177$2,741$2,358$2,024$1,095
15 years$3,390$2,902$2,475$2,103$1,782$914
16 years$3,146$2,663$2,244$1,883$1,575$765
17 years$2,930$2,452$2,042$1,692$1,396$642
18 years$2,738$2,266$1,864$1,525$1,242$540
19 years$2,567$2,100$1,706$1,378$1,107$454
20 years$2,413$1,951$1,566$1,248$989$383
21 years$2,274$1,818$1,440$1,132$885$323
22 years$2,148$1,697$1,327$1,030$793$273
23 years$2,033$1,587$1,226$938$712$231
24 years$1,927$1,487$1,133$855$640$195
25 years$1,830$1,395$1,050$781$576$165
26 years$1,741$1,311$974$714$519$140
27 years$1,659$1,234$904$654$468$119
28 years$1,582$1,163$841$599$422$100
29 years$1,511$1,097$782$549$381$85
30 years$1,445$1,036$729$504$344$72
31 years$1,383$979$679$463$311$61
32 years$1,326$927$634$425$281$52
33 years$1,272$878$592$391$255$44
34 years$1,221$832$553$360$231$37
35 years$1,173$789$517$331$209$32
36 years$1,128$749$484$305$189$27
37 years$1,085$711$453$281$172$23
38 years$1,045$676$424$259$156$19
39 years$1,007$643$397$239$141$16
40 years$971$612$372$220$128$14
41 years$936$582$349$203$116$12
42 years$904$554$327$188$105$10
43 years$873$528$307$173$96$9
44 years$844$503$288$160$87$7
45 years$816$480$271$148$79$6
46 years$789$458$254$136$72$5
47 years$763$437$239$126$65$4
48 years$739$417$225$117$59$4
49 years$716$398$211$108$54$3
50 years$693$381$198$100$49$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $710,000, adding $3,344 every year, while hoping to spend $43,820 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: 43/29/28 Blend
65$710,000$710,000$710,000$710,000
66$785,869$748,239$737,234$813,122
67$819,404$738,279$715,308$823,015
68$854,890$726,362$691,178$829,322
69$892,481$712,346$664,724$835,318
70$932,344$696,080$635,822$841,001
71$974,661$677,406$604,340$846,371
72$1,019,631$656,154$570,140$851,431
73$1,067,474$632,146$533,080$856,189
74$1,118,427$605,192$493,010$860,658
75$1,172,753$575,093$449,772$864,855
76$1,230,738$541,636$403,203$868,805
77$1,292,696$504,599$353,133$872,539
78$1,358,971$463,744$299,383$876,096
79$1,429,940$418,822$241,766$879,526
80$1,506,017$369,567$180,089$882,888
81$1,587,656$315,701$114,147$886,253
82$1,675,355$256,929$43,729$889,706
83$1,769,661$192,938$0$893,348
84$1,871,173$123,399$0$906,682
85$1,980,552$47,964$0$935,012
86$2,098,520$0$0$965,490
87$2,225,874$0$0$1,009,139
88$2,363,487$0$0$1,072,911
89$2,512,320$0$0$1,141,955
90$2,673,428$0$0$1,216,769
91$2,847,971$0$0$1,297,901
92$3,037,227$0$0$1,385,955
93$3,242,598$0$0$1,481,594
94$3,465,626$0$0$1,585,548
95$3,708,011$0$0$1,698,619
96$3,971,620$0$0$1,821,691
97$4,258,506$0$0$1,955,736
98$4,570,930$0$0$2,101,822
99$4,911,381$0$0$2,261,127
100$5,282,595$0$0$2,434,946