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%12.9%
1 years$58,631$58,109$57,599$57,102$56,616$55,932
2 years$29,025$28,485$27,961$27,453$26,960$26,272
3 years$19,158$18,615$18,093$17,589$17,105$16,433
4 years$14,225$13,684$13,167$12,672$12,199$11,550
5 years$11,266$10,728$10,218$9,733$9,274$8,648
6 years$9,295$8,761$8,258$7,784$7,338$6,737
7 years$7,887$7,357$6,862$6,400$5,968$5,392
8 years$6,831$6,306$5,820$5,368$4,951$4,400
9 years$6,011$5,491$5,012$4,573$4,169$3,644
10 years$5,355$4,840$4,370$3,942$3,552$3,051
11 years$4,818$4,309$3,847$3,430$3,055$2,578
12 years$4,372$3,867$3,414$3,009$2,648$2,194
13 years$3,994$3,495$3,050$2,656$2,309$1,878
14 years$3,670$3,177$2,741$2,358$2,024$1,615
15 years$3,390$2,902$2,475$2,103$1,782$1,395
16 years$3,146$2,663$2,244$1,883$1,575$1,209
17 years$2,930$2,452$2,042$1,692$1,396$1,051
18 years$2,738$2,266$1,864$1,525$1,242$915
19 years$2,567$2,100$1,706$1,378$1,107$799
20 years$2,413$1,951$1,566$1,248$989$699
21 years$2,274$1,818$1,440$1,132$885$612
22 years$2,148$1,697$1,327$1,030$793$537
23 years$2,033$1,587$1,226$938$712$472
24 years$1,927$1,487$1,133$855$640$415
25 years$1,830$1,395$1,050$781$576$365
26 years$1,741$1,311$974$714$519$321
27 years$1,659$1,234$904$654$468$283
28 years$1,582$1,163$841$599$422$250
29 years$1,511$1,097$782$549$381$220
30 years$1,445$1,036$729$504$344$195
31 years$1,383$979$679$463$311$172
32 years$1,326$927$634$425$281$152
33 years$1,272$878$592$391$255$134
34 years$1,221$832$553$360$231$119
35 years$1,173$789$517$331$209$105
36 years$1,128$749$484$305$189$93
37 years$1,085$711$453$281$172$82
38 years$1,045$676$424$259$156$72
39 years$1,007$643$397$239$141$64
40 years$971$612$372$220$128$57
41 years$936$582$349$203$116$50
42 years$904$554$327$188$105$44
43 years$873$528$307$173$96$39
44 years$844$503$288$160$87$35
45 years$816$480$271$148$79$31
46 years$789$458$254$136$72$27
47 years$763$437$239$126$65$24
48 years$739$417$225$117$59$21
49 years$716$398$211$108$54$19
50 years$693$381$198$100$49$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $710,000, adding $6,595 every year, while hoping to spend $52,501 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: 71/19/10 Blend
65$710,000$710,000$710,000$710,000
66$789,223$751,593$740,588$843,265
67$813,863$732,560$709,537$860,872
68$839,257$710,835$675,686$873,062
69$865,425$686,231$638,886$884,984
70$892,391$658,549$598,981$896,601
71$920,176$627,579$555,809$907,870
72$948,804$593,100$509,197$918,749
73$978,296$554,876$458,970$929,190
74$1,008,677$512,660$404,940$939,143
75$1,039,971$466,189$346,915$948,555
76$1,072,202$415,186$284,690$957,369
77$1,105,394$359,357$218,055$965,523
78$1,139,572$298,394$146,787$972,953
79$1,174,762$231,968$70,658$979,589
80$1,210,988$159,735$0$985,357
81$1,248,275$81,328$0$991,309
82$1,286,649$0$0$1,004,350
83$1,326,136$0$0$1,017,632
84$1,366,760$0$0$1,048,788
85$1,408,546$0$0$1,080,834
86$1,451,520$0$0$1,113,788
87$1,495,705$0$0$1,147,669
88$1,541,125$0$0$1,182,495
89$1,587,802$0$0$1,218,282
90$1,635,760$0$0$1,255,048
91$1,685,018$0$0$1,292,807
92$1,735,597$0$0$1,331,575
93$1,787,514$0$0$1,371,364
94$1,840,785$0$0$1,412,187
95$1,895,425$0$0$1,454,054
96$1,951,444$0$0$1,496,972
97$2,008,852$0$0$1,540,948
98$2,067,655$0$0$1,585,986
99$2,127,853$0$0$1,632,085
100$2,189,444$0$0$1,679,242