Can I retire at age 66 with 793,000?

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 $793,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$65,485$64,902$64,333$63,777$63,235$61,606
2 years$32,418$31,815$31,230$30,662$30,112$28,482
3 years$21,398$20,791$20,208$19,646$19,104$17,524
4 years$15,888$15,284$14,706$14,154$13,625$12,107
5 years$12,584$11,983$11,412$10,871$10,358$8,905
6 years$10,381$9,785$9,223$8,694$8,196$6,811
7 years$8,809$8,217$7,664$7,148$6,665$5,348
8 years$7,630$7,044$6,500$5,996$5,530$4,279
9 years$6,713$6,133$5,598$5,107$4,657$3,472
10 years$5,981$5,406$4,881$4,403$3,968$2,847
11 years$5,381$4,812$4,297$3,832$3,412$2,355
12 years$4,883$4,319$3,813$3,361$2,957$1,960
13 years$4,461$3,903$3,407$2,967$2,579$1,641
14 years$4,100$3,548$3,061$2,634$2,260$1,379
15 years$3,787$3,241$2,764$2,349$1,990$1,163
16 years$3,513$2,974$2,506$2,103$1,759$984
17 years$3,272$2,739$2,280$1,890$1,560$835
18 years$3,058$2,531$2,082$1,703$1,387$710
19 years$2,867$2,345$1,906$1,539$1,236$604
20 years$2,695$2,180$1,749$1,394$1,104$515
21 years$2,540$2,030$1,609$1,265$988$440
22 years$2,399$1,895$1,483$1,150$886$376
23 years$2,270$1,772$1,369$1,047$795$321
24 years$2,153$1,661$1,266$955$715$275
25 years$2,044$1,558$1,173$872$643$236
26 years$1,945$1,465$1,088$798$579$202
27 years$1,853$1,378$1,010$730$522$173
28 years$1,767$1,299$939$669$471$149
29 years$1,688$1,225$874$613$425$127
30 years$1,614$1,157$814$563$384$109
31 years$1,545$1,094$759$517$348$94
32 years$1,481$1,035$708$475$314$81
33 years$1,420$980$661$437$285$69
34 years$1,363$929$617$402$258$60
35 years$1,310$881$577$370$233$51
36 years$1,259$836$540$341$211$44
37 years$1,212$794$505$314$192$38
38 years$1,167$755$473$289$174$32
39 years$1,124$718$443$267$158$28
40 years$1,084$683$416$246$143$24
41 years$1,046$650$390$227$130$21
42 years$1,010$619$366$210$118$18
43 years$975$590$343$194$107$15
44 years$942$562$322$179$97$13
45 years$911$536$302$165$88$11
46 years$881$512$284$152$80$10
47 years$852$488$267$141$73$8
48 years$825$466$251$130$66$7
49 years$799$445$236$120$60$6
50 years$774$425$222$111$54$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $793,000, adding $2,804 every year, while hoping to spend $26,516 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: 40/46/14 Blend
65$793,000$793,000$793,000$793,000
66$876,778$834,749$822,458$908,088
67$937,997$847,439$821,797$943,218
68$1,004,571$859,862$820,226$978,391
69$1,077,019$871,977$817,685$1,015,867
70$1,155,911$883,740$814,114$1,055,866
71$1,241,875$895,104$809,448$1,098,634
72$1,335,601$906,019$803,619$1,144,440
73$1,437,849$916,431$796,557$1,193,584
74$1,549,456$926,283$788,188$1,246,397
75$1,671,343$935,513$778,435$1,303,242
76$1,804,524$944,057$767,216$1,364,525
77$1,950,114$951,844$754,446$1,430,691
78$2,109,342$958,801$740,037$1,502,233
79$2,283,562$964,849$723,895$1,579,697
80$2,474,262$969,904$705,922$1,663,684
81$2,683,084$973,876$686,018$1,754,861
82$2,911,834$976,672$664,075$1,853,961
83$3,162,501$978,189$639,982$1,961,797
84$3,437,277$978,320$613,622$2,079,267
85$3,738,574$976,953$584,873$2,207,362
86$4,069,050$973,965$553,608$2,347,176
87$4,431,633$969,229$519,693$2,499,919
88$4,829,547$962,609$482,990$2,666,926
89$5,266,343$953,959$443,353$2,849,673
90$5,745,934$943,127$400,630$3,049,788
91$6,272,630$929,951$354,661$3,269,070
92$6,851,179$914,259$305,282$3,509,505
93$7,486,809$895,868$252,320$3,773,284
94$8,185,283$874,585$195,592$4,062,830
95$8,952,949$850,206$134,911$4,380,813
96$9,796,798$822,515$70,079$4,730,183
97$10,724,536$791,283$891$5,114,197
98$11,744,650$756,266$0$5,536,447
99$12,866,490$717,210$0$6,011,797
100$14,100,361$673,842$0$6,534,576