Can I retire at age 66 with 711,000?

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 $711,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$58,714$58,191$57,680$57,182$56,696$55,124
2 years$29,066$28,525$28,000$27,492$26,998$25,426
3 years$19,185$18,641$18,118$17,614$17,129$15,606
4 years$14,245$13,703$13,185$12,690$12,216$10,755
5 years$11,282$10,744$10,232$9,747$9,287$7,890
6 years$9,308$8,773$8,269$7,795$7,348$6,018
7 years$7,898$7,368$6,872$6,409$5,976$4,712
8 years$6,841$6,315$5,828$5,376$4,958$3,759
9 years$6,019$5,499$5,019$4,579$4,175$3,041
10 years$5,362$4,847$4,376$3,947$3,557$2,486
11 years$4,825$4,315$3,853$3,435$3,060$2,049
12 years$4,378$3,873$3,419$3,013$2,651$1,700
13 years$3,999$3,500$3,055$2,660$2,312$1,418
14 years$3,676$3,181$2,745$2,361$2,027$1,188
15 years$3,395$2,906$2,478$2,106$1,784$999
16 years$3,150$2,666$2,247$1,886$1,577$842
17 years$2,934$2,456$2,044$1,694$1,398$712
18 years$2,742$2,269$1,866$1,527$1,243$603
19 years$2,571$2,103$1,709$1,380$1,108$511
20 years$2,416$1,954$1,568$1,250$990$434
21 years$2,277$1,820$1,442$1,134$886$369
22 years$2,151$1,699$1,329$1,031$794$314
23 years$2,035$1,589$1,227$939$713$268
24 years$1,930$1,489$1,135$856$641$228
25 years$1,833$1,397$1,051$782$576$195
26 years$1,744$1,313$975$715$519$166
27 years$1,661$1,236$905$655$468$142
28 years$1,585$1,165$842$600$422$121
29 years$1,514$1,099$783$550$381$104
30 years$1,447$1,038$730$505$345$89
31 years$1,385$981$680$464$312$76
32 years$1,328$928$635$426$282$65
33 years$1,273$879$593$392$255$55
34 years$1,222$833$554$360$231$47
35 years$1,174$790$518$332$209$41
36 years$1,129$750$484$306$190$35
37 years$1,087$712$453$282$172$30
38 years$1,046$677$424$260$156$25
39 years$1,008$644$398$239$141$22
40 years$972$612$373$221$128$19
41 years$938$583$349$204$116$16
42 years$905$555$328$188$105$14
43 years$874$529$308$173$96$12
44 years$845$504$289$160$87$10
45 years$817$481$271$148$79$9
46 years$790$459$255$137$72$7
47 years$764$438$239$126$65$6
48 years$740$418$225$117$59$5
49 years$717$399$211$108$54$5
50 years$694$381$199$100$49$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $711,000, adding $2,363 every year, while hoping to spend $22,001 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: 52/29/19 Blend
65$711,000$711,000$711,000$711,000
66$785,959$748,276$737,256$822,611
67$842,718$761,533$738,545$861,325
68$904,529$774,702$739,140$900,922
69$971,885$787,755$738,994$943,518
70$1,045,325$800,664$738,059$989,403
71$1,125,448$813,396$736,284$1,038,901
72$1,212,908$825,917$733,614$1,092,365
73$1,308,428$838,190$729,993$1,150,188
74$1,412,803$850,177$725,363$1,212,802
75$1,526,908$861,834$719,662$1,280,683
76$1,651,706$873,118$712,824$1,354,357
77$1,788,260$883,980$704,783$1,434,405
78$1,937,736$894,369$695,467$1,521,466
79$2,101,422$904,230$684,802$1,616,246
80$2,280,733$913,504$672,710$1,719,524
81$2,477,231$922,129$659,109$1,832,159
82$2,692,634$930,038$643,914$1,955,100
83$2,928,833$937,160$627,035$2,089,390
84$3,187,914$943,421$608,381$2,236,184
85$3,472,171$948,738$587,851$2,396,754
86$3,784,134$953,028$565,346$2,572,501
87$4,126,588$956,199$540,757$2,764,975
88$4,502,601$958,154$513,974$2,975,882
89$4,915,553$958,790$484,879$3,207,105
90$5,369,168$957,999$453,351$3,460,720
91$5,867,546$955,664$419,261$3,739,017
92$6,415,207$951,663$382,477$4,044,522
93$7,017,128$945,864$342,860$4,380,022
94$7,678,793$938,130$300,264$4,748,587
95$8,406,245$928,313$254,538$5,153,605
96$9,206,139$916,258$205,522$5,598,814
97$10,085,810$901,799$153,052$6,088,333
98$11,053,338$884,763$96,955$6,626,704
99$12,117,625$864,963$37,049$7,218,939
100$13,288,480$842,203$0$7,870,560