Can I retire at age 66 with 714,000?

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 $714,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$58,961$58,436$57,924$57,424$56,935$55,025
2 years$29,189$28,645$28,118$27,608$27,112$25,206
3 years$19,266$18,720$18,194$17,688$17,201$15,359
4 years$14,305$13,761$13,241$12,744$12,268$10,505
5 years$11,330$10,789$10,275$9,788$9,326$7,646
6 years$9,347$8,810$8,304$7,828$7,379$5,784
7 years$7,931$7,399$6,901$6,436$6,001$4,490
8 years$6,870$6,342$5,852$5,399$4,979$3,551
9 years$6,044$5,522$5,041$4,598$4,193$2,846
10 years$5,385$4,867$4,395$3,964$3,572$2,305
11 years$4,845$4,333$3,869$3,450$3,072$1,882
12 years$4,396$3,889$3,434$3,026$2,662$1,546
13 years$4,016$3,515$3,068$2,671$2,322$1,277
14 years$3,691$3,195$2,756$2,371$2,035$1,058
15 years$3,409$2,918$2,489$2,115$1,792$880
16 years$3,163$2,678$2,256$1,894$1,584$734
17 years$2,946$2,466$2,053$1,701$1,404$614
18 years$2,754$2,279$1,874$1,533$1,249$514
19 years$2,581$2,112$1,716$1,385$1,113$431
20 years$2,427$1,962$1,575$1,255$994$362
21 years$2,287$1,828$1,448$1,139$890$304
22 years$2,160$1,706$1,335$1,035$797$256
23 years$2,044$1,596$1,233$943$716$216
24 years$1,938$1,495$1,140$860$643$182
25 years$1,841$1,403$1,056$785$579$153
26 years$1,751$1,319$979$718$521$129
27 years$1,668$1,241$909$657$470$109
28 years$1,591$1,169$845$602$424$92
29 years$1,520$1,103$787$552$383$78
30 years$1,453$1,042$733$507$346$66
31 years$1,391$985$683$466$313$55
32 years$1,333$932$637$428$283$47
33 years$1,279$883$595$393$256$39
34 years$1,227$837$556$362$232$33
35 years$1,179$793$520$333$210$28
36 years$1,134$753$486$307$190$24
37 years$1,091$715$455$283$173$20
38 years$1,051$680$426$261$156$17
39 years$1,012$646$399$240$142$14
40 years$976$615$374$222$129$12
41 years$942$585$351$205$117$10
42 years$909$557$329$189$106$9
43 years$878$531$309$174$96$7
44 years$848$506$290$161$87$6
45 years$820$483$272$149$79$5
46 years$793$461$256$137$72$4
47 years$768$440$240$127$65$4
48 years$743$420$226$117$59$3
49 years$720$401$212$108$54$3
50 years$697$383$200$100$49$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $714,000, adding $5,134 every year, while hoping to spend $59,143 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: 45/47/8 Blend
65$714,000$714,000$714,000$714,000
66$792,124$754,282$743,215$825,767
67$809,993$728,314$705,185$823,567
68$827,702$699,091$663,898$814,670
69$845,173$666,392$619,185$803,661
70$862,317$629,982$570,864$790,368
71$879,034$589,612$518,748$774,601
72$895,212$545,019$462,643$756,160
73$910,726$495,928$402,344$734,830
74$925,435$442,042$337,637$710,378
75$939,181$383,054$268,299$682,555
76$951,788$318,635$194,098$651,094
77$963,062$248,439$114,792$615,706
78$972,782$172,100$30,125$576,082
79$980,705$89,233$0$531,889
80$986,560$0$0$487,911
81$990,047$0$0$441,994
82$990,829$0$0$440,840
83$988,534$0$0$438,111
84$982,749$0$0$433,601
85$973,016$0$0$427,081
86$958,826$0$0$418,298
87$939,615$0$0$406,970
88$914,759$0$0$392,786
89$883,566$0$0$375,401
90$845,269$0$0$354,432
91$799,021$0$0$329,459
92$743,883$0$0$300,012
93$678,817$0$0$265,576
94$602,674$0$0$225,579
95$514,185$0$0$179,389
96$411,946$0$0$126,307
97$294,407$0$0$65,563
98$159,852$0$0$0
99$6,388$0$0$0
100$0$0$0$0