Can I retire at age 66 with 722,000?

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 $722,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$59,622$59,091$58,573$58,067$57,573$57,283
2 years$29,516$28,966$28,433$27,917$27,416$27,122
3 years$19,482$18,930$18,398$17,887$17,394$17,107
4 years$14,466$13,915$13,389$12,886$12,405$12,127
5 years$11,457$10,910$10,391$9,898$9,430$9,161
6 years$9,452$8,909$8,397$7,915$7,462$7,203
7 years$8,020$7,481$6,978$6,508$6,069$5,819
8 years$6,947$6,413$5,918$5,459$5,034$4,795
9 years$6,112$5,584$5,097$4,650$4,240$4,010
10 years$5,445$4,922$4,444$4,008$3,612$3,393
11 years$4,900$4,382$3,912$3,488$3,107$2,897
12 years$4,445$3,933$3,472$3,060$2,692$2,492
13 years$4,061$3,554$3,102$2,701$2,348$2,156
14 years$3,732$3,230$2,787$2,398$2,058$1,876
15 years$3,448$2,951$2,516$2,139$1,812$1,639
16 years$3,199$2,708$2,282$1,915$1,601$1,437
17 years$2,979$2,494$2,076$1,720$1,420$1,263
18 years$2,784$2,304$1,895$1,551$1,263$1,114
19 years$2,610$2,135$1,735$1,401$1,125$985
20 years$2,454$1,984$1,592$1,269$1,005$872
21 years$2,312$1,848$1,465$1,152$900$774
22 years$2,184$1,725$1,350$1,047$806$687
23 years$2,067$1,614$1,246$954$724$611
24 years$1,960$1,512$1,153$870$651$545
25 years$1,861$1,419$1,068$794$585$486
26 years$1,771$1,334$990$726$527$433
27 years$1,687$1,255$919$665$475$387
28 years$1,609$1,183$855$609$429$346
29 years$1,537$1,116$795$559$387$310
30 years$1,470$1,054$741$513$350$277
31 years$1,407$996$691$471$316$248
32 years$1,348$942$644$433$286$222
33 years$1,293$892$602$398$259$199
34 years$1,241$846$562$366$235$178
35 years$1,193$802$526$337$212$160
36 years$1,147$761$492$310$192$144
37 years$1,103$723$460$286$174$129
38 years$1,062$687$431$264$158$116
39 years$1,024$654$404$243$143$104
40 years$987$622$378$224$130$93
41 years$952$592$355$207$118$84
42 years$919$564$333$191$107$75
43 years$888$537$312$176$97$67
44 years$858$512$293$163$88$61
45 years$829$488$275$150$80$54
46 years$802$466$259$139$73$49
47 years$776$444$243$128$66$44
48 years$751$424$228$118$60$40
49 years$728$405$215$109$54$36
50 years$705$387$202$101$49$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $722,000, adding $5,164 every year, while hoping to spend $31,305 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: 71/8/21 Blend
65$722,000$722,000$722,000$722,000
66$800,971$762,705$751,514$853,362
67$849,361$766,769$743,381$893,021
68$901,639$769,983$733,927$932,230
69$958,166$772,273$723,074$974,385
70$1,019,343$773,558$710,741$1,019,775
71$1,085,608$773,754$696,843$1,068,718
72$1,157,445$772,773$681,292$1,121,566
73$1,235,384$770,518$663,994$1,178,706
74$1,320,009$766,889$644,854$1,240,565
75$1,411,961$761,779$623,768$1,307,614
76$1,511,949$755,073$600,632$1,380,374
77$1,620,748$746,652$575,333$1,459,419
78$1,739,214$736,388$547,756$1,545,382
79$1,868,287$724,144$517,780$1,638,961
80$2,009,004$709,779$485,277$1,740,928
81$2,162,504$693,139$450,115$1,852,132
82$2,330,041$674,065$412,156$1,973,512
83$2,512,996$652,385$371,254$2,106,103
84$2,712,889$627,919$327,258$2,251,045
85$2,931,393$600,477$280,011$2,409,598
86$3,170,352$569,857$229,348$2,583,152
87$3,431,792$535,845$175,096$2,773,237
88$3,717,949$498,215$117,076$2,981,544
89$4,031,282$456,729$55,099$3,209,937
90$4,374,498$411,135$0$3,460,471
91$4,750,581$361,165$0$3,737,887
92$5,162,817$306,538$0$4,055,549
93$5,614,822$246,956$0$4,403,902
94$6,110,581$182,104$0$4,786,038
95$6,654,484$111,651$0$5,205,362
96$7,251,365$35,246$0$5,665,627
97$7,906,548$0$0$6,170,968
98$8,625,900$0$0$6,730,122
99$9,415,882$0$0$7,347,622
100$10,283,611$0$0$8,025,935