Can I retire at age 66 with 741,000?

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 $741,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$61,191$60,646$60,114$59,595$59,088$57,497
2 years$30,293$29,728$29,182$28,652$28,137$26,545
3 years$19,994$19,428$18,882$18,357$17,851$16,309
4 years$14,846$14,282$13,742$13,225$12,732$11,250
5 years$11,758$11,197$10,664$10,158$9,679$8,262
6 years$9,700$9,143$8,618$8,124$7,658$6,308
7 years$8,231$7,678$7,162$6,679$6,228$4,945
8 years$7,129$6,582$6,074$5,603$5,167$3,950
9 years$6,273$5,731$5,231$4,772$4,351$3,199
10 years$5,588$5,051$4,561$4,114$3,708$2,619
11 years$5,029$4,497$4,015$3,580$3,189$2,161
12 years$4,562$4,036$3,563$3,140$2,763$1,796
13 years$4,168$3,647$3,184$2,772$2,410$1,500
14 years$3,831$3,315$2,861$2,461$2,112$1,258
15 years$3,538$3,029$2,583$2,195$1,860$1,059
16 years$3,283$2,779$2,342$1,965$1,644$894
17 years$3,058$2,559$2,131$1,766$1,457$757
18 years$2,858$2,365$1,945$1,591$1,296$642
19 years$2,679$2,192$1,781$1,438$1,155$545
20 years$2,518$2,037$1,634$1,302$1,032$464
21 years$2,373$1,897$1,503$1,182$923$395
22 years$2,242$1,771$1,385$1,075$828$337
23 years$2,121$1,656$1,279$979$743$287
24 years$2,011$1,552$1,183$893$668$245
25 years$1,910$1,456$1,096$815$601$210
26 years$1,817$1,369$1,016$745$541$179
27 years$1,731$1,288$944$682$488$153
28 years$1,652$1,214$877$625$440$131
29 years$1,577$1,145$816$573$398$112
30 years$1,508$1,081$760$526$359$96
31 years$1,444$1,022$709$483$325$82
32 years$1,384$967$661$444$294$71
33 years$1,327$916$618$408$266$60
34 years$1,274$868$577$376$241$52
35 years$1,224$823$539$346$218$44
36 years$1,177$782$505$319$198$38
37 years$1,132$742$472$293$179$33
38 years$1,090$705$442$270$162$28
39 years$1,051$671$414$249$147$24
40 years$1,013$638$388$230$134$21
41 years$977$608$364$212$121$18
42 years$943$579$342$196$110$15
43 years$911$551$321$181$100$13
44 years$880$525$301$167$91$11
45 years$851$501$283$154$82$10
46 years$823$478$265$142$75$8
47 years$797$456$249$132$68$7
48 years$771$435$234$122$62$6
49 years$747$416$220$112$56$5
50 years$723$397$207$104$51$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $741,000, adding $6,547 every year, while hoping to spend $50,534 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: 51/29/20 Blend
65$741,000$741,000$741,000$741,000
66$823,335$784,062$772,577$860,450
67$853,548$768,713$744,690$871,410
68$885,148$750,919$714,176$877,573
69$918,225$730,506$680,892$883,200
70$952,873$707,290$644,692$888,260
71$989,197$681,077$605,419$892,718
72$1,027,308$651,664$562,914$896,544
73$1,067,329$618,830$517,007$899,703
74$1,109,392$582,348$467,522$902,165
75$1,153,640$541,975$414,275$903,899
76$1,200,232$497,452$357,074$904,875
77$1,249,337$448,508$295,717$905,065
78$1,301,141$394,857$229,995$904,443
79$1,355,847$336,194$159,690$902,984
80$1,413,676$272,200$84,572$900,670
81$1,474,868$202,535$4,402$897,482
82$1,539,688$126,842$0$893,410
83$1,608,422$44,744$0$905,763
84$1,681,385$0$0$919,352
85$1,758,921$0$0$947,394
86$1,841,405$0$0$992,455
87$1,929,250$0$0$1,040,489
88$2,022,906$0$0$1,091,746
89$2,122,866$0$0$1,146,502
90$2,229,671$0$0$1,205,061
91$2,343,914$0$0$1,267,754
92$2,466,244$0$0$1,334,945
93$2,597,374$0$0$1,407,032
94$2,738,086$0$0$1,484,453
95$2,889,238$0$0$1,567,690
96$3,051,772$0$0$1,657,269
97$3,226,720$0$0$1,753,770
98$3,415,218$0$0$1,857,829
99$3,618,514$0$0$1,970,145
100$3,837,977$0$0$2,091,486