Can I retire at age 67 with 696,000?

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 $696,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$57,475$56,963$56,464$55,976$55,500$54,136
2 years$28,453$27,923$27,410$26,912$26,429$25,063
3 years$18,780$18,248$17,736$17,243$16,767$15,443
4 years$13,945$13,414$12,907$12,422$11,959$10,685
5 years$11,044$10,517$10,016$9,541$9,091$7,872
6 years$9,111$8,588$8,095$7,630$7,193$6,030
7 years$7,731$7,212$6,727$6,273$5,850$4,743
8 years$6,696$6,182$5,705$5,263$4,853$3,802
9 years$5,892$5,383$4,914$4,483$4,087$3,090
10 years$5,249$4,745$4,284$3,864$3,482$2,539
11 years$4,723$4,224$3,771$3,363$2,995$2,104
12 years$4,285$3,791$3,347$2,950$2,595$1,755
13 years$3,915$3,426$2,990$2,604$2,263$1,472
14 years$3,598$3,114$2,687$2,312$1,984$1,240
15 years$3,324$2,845$2,426$2,062$1,747$1,048
16 years$3,084$2,610$2,199$1,846$1,544$889
17 years$2,872$2,404$2,001$1,659$1,369$755
18 years$2,684$2,221$1,827$1,495$1,217$643
19 years$2,516$2,059$1,673$1,351$1,085$549
20 years$2,365$1,913$1,535$1,223$969$469
21 years$2,229$1,782$1,412$1,110$867$401
22 years$2,105$1,663$1,301$1,009$777$344
23 years$1,993$1,556$1,201$919$698$295
24 years$1,889$1,458$1,111$838$627$253
25 years$1,794$1,368$1,029$766$564$217
26 years$1,707$1,286$954$700$508$187
27 years$1,626$1,210$886$641$458$160
28 years$1,551$1,140$824$587$414$138
29 years$1,482$1,075$767$538$373$119
30 years$1,417$1,016$714$494$337$102
31 years$1,356$960$666$454$305$88
32 years$1,300$908$621$417$276$76
33 years$1,246$860$580$384$250$65
34 years$1,197$815$542$353$226$56
35 years$1,150$773$507$325$205$48
36 years$1,105$734$474$299$186$42
37 years$1,064$697$444$276$168$36
38 years$1,024$663$415$254$152$31
39 years$987$630$389$234$138$27
40 years$952$599$365$216$125$23
41 years$918$571$342$199$114$20
42 years$886$543$321$184$103$17
43 years$856$518$301$170$94$15
44 years$827$494$283$157$85$13
45 years$799$471$265$145$77$11
46 years$773$449$249$134$70$9
47 years$748$428$234$124$64$8
48 years$724$409$220$114$58$7
49 years$701$391$207$106$52$6
50 years$680$373$194$98$48$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $696,000, adding $6,496 every year, while hoping to spend $30,510 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: 47/42/11 Blend
66$696,000$696,000$696,000$696,000
67$773,693$736,805$726,017$807,401
68$820,147$740,446$717,876$834,968
69$870,317$743,243$708,440$861,186
70$924,549$745,122$697,633$888,951
71$983,226$746,005$685,376$918,416
72$1,046,765$745,809$671,586$949,753
73$1,115,627$744,446$656,176$983,150
74$1,190,319$741,822$639,056$1,018,820
75$1,271,398$737,838$620,131$1,056,997
76$1,359,477$732,388$599,302$1,097,939
77$1,455,229$725,361$576,464$1,141,935
78$1,559,396$716,637$551,509$1,189,304
79$1,672,794$706,092$524,324$1,240,402
80$1,796,320$693,591$494,790$1,295,620
81$1,930,962$678,995$462,783$1,355,393
82$2,077,808$662,152$428,173$1,420,206
83$2,238,052$642,906$390,825$1,490,592
84$2,413,014$621,089$350,598$1,567,144
85$2,604,142$596,523$307,344$1,650,517
86$2,813,033$569,021$260,908$1,741,439
87$3,041,443$538,384$211,129$1,840,714
88$3,291,308$504,402$157,840$1,949,232
89$3,564,758$466,854$100,864$2,067,980
90$3,864,138$425,505$40,018$2,198,048
91$4,192,032$380,107$0$2,340,643
92$4,551,285$330,398$0$2,500,025
93$4,945,029$276,100$0$2,679,948
94$5,376,714$216,921$0$2,877,370
95$5,850,140$152,552$0$3,094,122
96$6,369,494$82,666$0$3,332,228
97$6,939,385$6,920$0$3,593,924
98$7,564,892$0$0$3,881,679
99$8,251,607$0$0$4,232,909
100$9,005,693$0$0$4,622,190