Can I retire at age 67 with 693,000?

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 $693,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$57,227$56,718$56,220$55,735$55,261$54,913
2 years$28,330$27,803$27,291$26,796$26,315$25,963
3 years$18,699$18,169$17,659$17,168$16,695$16,352
4 years$13,885$13,356$12,851$12,369$11,907$11,574
5 years$10,997$10,472$9,973$9,500$9,052$8,730
6 years$9,072$8,551$8,060$7,598$7,162$6,853
7 years$7,698$7,181$6,698$6,246$5,825$5,527
8 years$6,668$6,155$5,680$5,240$4,832$4,547
9 years$5,867$5,359$4,892$4,463$4,069$3,796
10 years$5,226$4,724$4,265$3,847$3,467$3,206
11 years$4,703$4,206$3,755$3,348$2,982$2,732
12 years$4,267$3,775$3,333$2,937$2,584$2,346
13 years$3,898$3,411$2,977$2,593$2,253$2,026
14 years$3,583$3,101$2,675$2,302$1,975$1,759
15 years$3,309$2,833$2,415$2,053$1,739$1,533
16 years$3,070$2,599$2,190$1,838$1,537$1,342
17 years$2,860$2,393$1,993$1,651$1,363$1,177
18 years$2,673$2,212$1,819$1,488$1,212$1,036
19 years$2,506$2,050$1,665$1,345$1,080$914
20 years$2,355$1,905$1,528$1,218$965$807
21 years$2,220$1,774$1,406$1,105$863$715
22 years$2,096$1,656$1,296$1,005$774$634
23 years$1,984$1,549$1,196$915$695$562
24 years$1,881$1,451$1,106$835$624$500
25 years$1,787$1,362$1,025$762$562$445
26 years$1,700$1,280$950$697$506$396
27 years$1,619$1,205$882$638$456$353
28 years$1,545$1,135$820$585$412$315
29 years$1,475$1,071$763$536$372$281
30 years$1,411$1,011$711$492$336$251
31 years$1,350$956$663$452$304$224
32 years$1,294$905$619$415$275$200
33 years$1,241$857$578$382$249$179
34 years$1,191$812$540$351$225$160
35 years$1,145$770$505$323$204$143
36 years$1,101$731$472$298$185$128
37 years$1,059$694$442$274$167$115
38 years$1,020$660$414$253$152$103
39 years$983$627$388$233$138$92
40 years$947$597$363$215$125$82
41 years$914$568$341$198$113$74
42 years$882$541$320$183$103$66
43 years$852$516$300$169$93$59
44 years$823$491$281$156$85$53
45 years$796$469$264$144$77$47
46 years$770$447$248$133$70$43
47 years$745$427$233$123$63$38
48 years$721$407$219$114$58$34
49 years$698$389$206$105$52$31
50 years$677$372$194$97$47$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $693,000, adding $3,056 every year, while hoping to spend $34,377 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: 63/12/25 Blend
66$693,000$693,000$693,000$693,000
67$766,838$730,109$719,368$809,910
68$808,479$729,308$706,890$838,614
69$853,215$727,315$692,841$865,882
70$901,325$724,036$677,134$894,906
71$953,117$719,370$659,675$925,861
72$1,008,927$713,211$640,366$958,942
73$1,069,125$705,446$619,106$994,367
74$1,134,118$695,956$595,788$1,032,376
75$1,204,353$684,612$570,302$1,073,233
76$1,280,320$671,281$542,530$1,117,232
77$1,362,559$655,820$512,351$1,164,700
78$1,451,663$638,078$479,638$1,215,995
79$1,548,284$617,896$444,258$1,271,517
80$1,653,141$595,104$406,072$1,331,707
81$1,767,021$569,524$364,935$1,397,052
82$1,890,793$540,967$320,696$1,468,092
83$2,025,410$509,231$273,196$1,545,423
84$2,171,924$474,105$222,270$1,629,707
85$2,331,491$435,366$167,746$1,721,671
86$2,505,380$392,777$109,443$1,822,124
87$2,694,993$346,087$47,174$1,931,957
88$2,901,870$295,032$0$2,052,155
89$3,127,705$239,334$0$2,188,950
90$3,374,366$178,696$0$2,352,166
91$3,643,906$112,807$0$2,530,593
92$3,938,589$41,339$0$2,725,760
93$4,260,903$0$0$2,939,351
94$4,613,593$0$0$3,177,986
95$4,999,675$0$0$3,445,238
96$5,422,477$0$0$3,737,959
97$5,885,658$0$0$4,058,687
98$6,393,252$0$0$4,410,223
99$6,949,698$0$0$4,795,649
100$7,559,889$0$0$5,218,359