Can I retire at age 66 with 788,000?

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 $788,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$65,072$64,493$63,927$63,375$62,836$61,568
2 years$32,214$31,614$31,033$30,469$29,922$28,649
3 years$21,263$20,660$20,080$19,522$18,984$17,747
4 years$15,788$15,187$14,613$14,064$13,539$12,348
5 years$12,504$11,907$11,340$10,803$10,292$9,150
6 years$10,316$9,723$9,165$8,639$8,144$7,051
7 years$8,753$8,165$7,616$7,103$6,623$5,580
8 years$7,582$6,999$6,459$5,958$5,495$4,502
9 years$6,671$6,094$5,563$5,075$4,627$3,684
10 years$5,943$5,372$4,850$4,375$3,943$3,047
11 years$5,348$4,782$4,270$3,807$3,391$2,543
12 years$4,852$4,292$3,789$3,340$2,938$2,136
13 years$4,433$3,879$3,386$2,948$2,562$1,805
14 years$4,074$3,526$3,042$2,617$2,246$1,531
15 years$3,763$3,221$2,746$2,334$1,978$1,305
16 years$3,491$2,955$2,490$2,090$1,748$1,115
17 years$3,252$2,721$2,266$1,878$1,550$955
18 years$3,039$2,515$2,068$1,692$1,378$820
19 years$2,849$2,331$1,894$1,529$1,228$706
20 years$2,678$2,166$1,738$1,385$1,097$608
21 years$2,524$2,017$1,598$1,257$982$525
22 years$2,384$1,883$1,473$1,143$880$453
23 years$2,256$1,761$1,360$1,041$790$392
24 years$2,139$1,650$1,258$949$710$339
25 years$2,032$1,549$1,165$867$639$294
26 years$1,933$1,455$1,081$793$576$255
27 years$1,841$1,370$1,003$726$519$221
28 years$1,756$1,291$933$665$468$192
29 years$1,677$1,218$868$610$423$166
30 years$1,604$1,150$809$559$382$144
31 years$1,535$1,087$754$514$345$125
32 years$1,471$1,029$703$472$312$109
33 years$1,411$974$657$434$283$95
34 years$1,355$923$614$400$256$82
35 years$1,302$876$574$368$232$72
36 years$1,252$831$537$339$210$62
37 years$1,204$789$502$312$190$54
38 years$1,160$750$470$288$173$47
39 years$1,117$713$441$265$157$41
40 years$1,077$679$413$245$142$36
41 years$1,039$646$387$226$129$31
42 years$1,003$615$363$208$117$27
43 years$969$586$341$192$106$23
44 years$936$559$320$178$96$20
45 years$905$533$300$164$87$18
46 years$875$508$282$151$79$15
47 years$847$485$265$140$72$13
48 years$820$463$249$129$65$12
49 years$794$442$234$119$59$10
50 years$769$422$220$110$54$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $788,000, adding $5,620 every year, while hoping to spend $56,233 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$788,000$788,000$788,000$788,000
66$874,173$832,409$820,195$911,304
67$903,507$813,366$787,840$918,486
68$933,949$791,504$752,517$920,018
69$965,551$766,628$714,066$920,385
70$998,372$738,527$672,321$919,499
71$1,032,472$706,981$627,110$917,266
72$1,067,917$671,755$578,251$913,588
73$1,104,776$632,603$525,554$908,364
74$1,143,124$589,262$468,821$901,485
75$1,183,042$541,455$407,846$892,836
76$1,224,617$488,891$342,413$882,300
77$1,267,941$431,260$272,297$869,752
78$1,313,114$368,234$197,262$855,060
79$1,360,243$299,469$117,062$838,087
80$1,409,445$224,601$31,441$818,691
81$1,460,845$143,243$0$796,721
82$1,514,579$54,989$0$777,136
83$1,570,792$0$0$757,856
84$1,629,644$0$0$757,040
85$1,691,305$0$0$786,008
86$1,755,962$0$0$816,411
87$1,823,816$0$0$848,348
88$1,895,088$0$0$881,924
89$1,970,013$0$0$917,258
90$2,048,853$0$0$954,475
91$2,131,888$0$0$993,713
92$2,219,425$0$0$1,035,123
93$2,311,799$0$0$1,078,868
94$2,409,373$0$0$1,125,127
95$2,512,546$0$0$1,174,096
96$2,621,752$0$0$1,225,986
97$2,737,463$0$0$1,281,032
98$2,860,198$0$0$1,339,487
99$2,990,523$0$0$1,401,631
100$3,129,056$0$0$1,467,766