Can I retire at age 66 with 742,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $742,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$61,274$60,728$60,195$59,676$59,168$58,623
2 years$30,333$29,769$29,221$28,690$28,175$27,626
3 years$20,021$19,454$18,908$18,382$17,876$17,340
4 years$14,866$14,301$13,760$13,243$12,749$12,230
5 years$11,774$11,212$10,678$10,172$9,692$9,191
6 years$9,713$9,155$8,630$8,135$7,669$7,188
7 years$8,242$7,689$7,171$6,688$6,237$5,775
8 years$7,139$6,591$6,082$5,610$5,174$4,732
9 years$6,281$5,738$5,238$4,779$4,357$3,934
10 years$5,596$5,058$4,567$4,119$3,713$3,308
11 years$5,035$4,503$4,021$3,585$3,193$2,807
12 years$4,569$4,042$3,568$3,145$2,767$2,400
13 years$4,174$3,652$3,188$2,776$2,413$2,064
14 years$3,836$3,320$2,864$2,464$2,115$1,783
15 years$3,543$3,033$2,586$2,198$1,862$1,547
16 years$3,287$2,783$2,345$1,968$1,646$1,347
17 years$3,062$2,563$2,134$1,768$1,459$1,177
18 years$2,862$2,368$1,948$1,593$1,298$1,030
19 years$2,683$2,195$1,783$1,440$1,157$904
20 years$2,522$2,039$1,636$1,304$1,033$795
21 years$2,376$1,900$1,505$1,184$924$700
22 years$2,245$1,773$1,387$1,076$829$617
23 years$2,124$1,658$1,281$980$744$545
24 years$2,014$1,554$1,185$894$669$482
25 years$1,913$1,458$1,097$816$602$426
26 years$1,820$1,370$1,018$746$542$378
27 years$1,734$1,290$945$683$489$335
28 years$1,654$1,215$878$626$441$297
29 years$1,580$1,147$817$574$398$263
30 years$1,510$1,083$761$527$360$234
31 years$1,446$1,024$710$484$325$208
32 years$1,385$969$662$445$294$184
33 years$1,329$917$618$409$266$164
34 years$1,276$869$578$376$241$146
35 years$1,226$825$540$346$218$130
36 years$1,178$783$505$319$198$115
37 years$1,134$743$473$294$179$103
38 years$1,092$706$443$271$163$91
39 years$1,052$672$415$250$147$81
40 years$1,014$639$389$230$134$72
41 years$979$608$365$213$121$64
42 years$945$579$342$196$110$57
43 years$912$552$321$181$100$51
44 years$882$526$301$167$91$45
45 years$852$502$283$154$82$40
46 years$824$479$266$143$75$36
47 years$798$457$250$132$68$32
48 years$772$436$235$122$62$29
49 years$748$416$221$113$56$25
50 years$724$398$207$104$51$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $742,000, adding $3,203 every year, while hoping to spend $31,116 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: 60/19/21 Blend
65$742,000$742,000$742,000$742,000
66$820,988$781,662$770,161$865,526
67$871,621$786,856$762,854$901,278
68$926,377$791,262$754,260$936,576
69$985,641$794,808$744,302$974,390
70$1,049,841$797,418$732,900$1,014,971
71$1,119,445$799,012$719,972$1,058,594
72$1,194,968$799,503$705,431$1,105,563
73$1,276,977$798,800$689,185$1,156,215
74$1,366,094$796,807$671,138$1,210,923
75$1,463,005$793,420$651,190$1,270,097
76$1,568,465$788,531$629,238$1,334,191
77$1,683,302$782,023$605,172$1,403,709
78$1,808,432$773,775$578,878$1,479,204
79$1,944,857$763,655$550,236$1,561,289
80$2,093,685$751,527$519,121$1,650,641
81$2,256,133$737,243$485,404$1,748,008
82$2,433,540$720,650$448,947$1,854,214
83$2,627,382$701,583$409,607$1,970,174
84$2,839,283$679,869$367,237$2,096,892
85$3,071,032$655,324$321,681$2,235,481
86$3,324,596$627,753$272,776$2,387,170
87$3,602,143$596,952$220,353$2,553,314
88$3,906,061$562,702$164,235$2,735,409
89$4,238,979$524,774$104,236$2,935,108
90$4,603,791$482,924$40,164$3,154,235
91$5,003,686$436,895$0$3,394,802
92$5,442,174$386,416$0$3,665,355
93$5,923,124$331,198$0$3,972,037
94$6,450,795$270,939$0$4,308,597
95$7,029,879$205,318$0$4,678,073
96$7,665,544$133,997$0$5,083,813
97$8,363,484$56,617$0$5,529,510
98$9,129,969$0$0$6,019,236
99$9,971,909$0$0$6,563,165
100$10,896,912$0$0$7,173,824