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%11.2%
1 years$57,227$56,718$56,220$55,735$55,261$54,982
2 years$28,330$27,803$27,291$26,796$26,315$26,033
3 years$18,699$18,169$17,659$17,168$16,695$16,420
4 years$13,885$13,356$12,851$12,369$11,907$11,640
5 years$10,997$10,472$9,973$9,500$9,052$8,793
6 years$9,072$8,551$8,060$7,598$7,162$6,913
7 years$7,698$7,181$6,698$6,246$5,825$5,586
8 years$6,668$6,155$5,680$5,240$4,832$4,602
9 years$5,867$5,359$4,892$4,463$4,069$3,849
10 years$5,226$4,724$4,265$3,847$3,467$3,256
11 years$4,703$4,206$3,755$3,348$2,982$2,780
12 years$4,267$3,775$3,333$2,937$2,584$2,392
13 years$3,898$3,411$2,977$2,593$2,253$2,070
14 years$3,583$3,101$2,675$2,302$1,975$1,800
15 years$3,309$2,833$2,415$2,053$1,739$1,573
16 years$3,070$2,599$2,190$1,838$1,537$1,379
17 years$2,860$2,393$1,993$1,651$1,363$1,213
18 years$2,673$2,212$1,819$1,488$1,212$1,069
19 years$2,506$2,050$1,665$1,345$1,080$945
20 years$2,355$1,905$1,528$1,218$965$837
21 years$2,220$1,774$1,406$1,105$863$742
22 years$2,096$1,656$1,296$1,005$774$660
23 years$1,984$1,549$1,196$915$695$587
24 years$1,881$1,451$1,106$835$624$523
25 years$1,787$1,362$1,025$762$562$466
26 years$1,700$1,280$950$697$506$416
27 years$1,619$1,205$882$638$456$372
28 years$1,545$1,135$820$585$412$332
29 years$1,475$1,071$763$536$372$297
30 years$1,411$1,011$711$492$336$266
31 years$1,350$956$663$452$304$238
32 years$1,294$905$619$415$275$213
33 years$1,241$857$578$382$249$191
34 years$1,191$812$540$351$225$171
35 years$1,145$770$505$323$204$154
36 years$1,101$731$472$298$185$138
37 years$1,059$694$442$274$167$124
38 years$1,020$660$414$253$152$111
39 years$983$627$388$233$138$100
40 years$947$597$363$215$125$89
41 years$914$568$341$198$113$80
42 years$882$541$320$183$103$72
43 years$852$516$300$169$93$65
44 years$823$491$281$156$85$58
45 years$796$469$264$144$77$52
46 years$770$447$248$133$70$47
47 years$745$427$233$123$63$42
48 years$721$407$219$114$58$38
49 years$698$389$206$105$52$34
50 years$677$372$194$97$47$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $693,000, adding $5,471 every year, while hoping to spend $52,020 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: 56/20/24 Blend
66$693,000$693,000$693,000$693,000
67$769,329$732,600$721,859$807,095
68$792,452$713,149$690,692$814,125
69$816,190$691,001$656,738$815,836
70$840,550$665,969$619,848$816,602
71$865,541$637,856$579,867$816,348
72$891,167$606,451$536,633$814,994
73$917,432$571,534$489,977$812,453
74$944,341$532,870$439,723$808,635
75$971,895$490,212$385,684$803,442
76$1,000,093$443,297$327,669$796,774
77$1,028,933$391,849$265,476$788,518
78$1,058,409$335,575$198,895$778,561
79$1,088,515$274,166$127,706$766,776
80$1,119,239$207,295$51,680$753,034
81$1,150,567$134,619$0$737,192
82$1,182,482$55,772$0$726,646
83$1,214,960$0$0$728,306
84$1,247,975$0$0$735,342
85$1,281,494$0$0$754,931
86$1,315,478$0$0$774,772
87$1,349,881$0$0$794,836
88$1,384,650$0$0$815,090
89$1,419,724$0$0$835,493
90$1,455,032$0$0$856,002
91$1,490,491$0$0$876,564
92$1,526,009$0$0$897,121
93$1,561,480$0$0$917,605
94$1,596,783$0$0$937,942
95$1,631,782$0$0$958,045
96$1,666,323$0$0$977,819
97$1,700,233$0$0$997,155
98$1,733,315$0$0$1,015,929
99$1,765,351$0$0$1,034,007
100$1,796,094$0$0$1,051,233