Can I retire at age 67 with 698,000?

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 $698,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$57,640$57,127$56,626$56,137$55,660$54,116
2 years$28,535$28,003$27,488$26,989$26,505$24,961
3 years$18,834$18,300$17,787$17,292$16,816$15,321
4 years$13,985$13,453$12,944$12,458$11,993$10,558
5 years$11,076$10,547$10,045$9,569$9,117$7,746
6 years$9,137$8,613$8,118$7,652$7,214$5,908
7 years$7,753$7,233$6,746$6,291$5,867$4,626
8 years$6,716$6,200$5,721$5,278$4,867$3,690
9 years$5,909$5,398$4,928$4,495$4,099$2,985
10 years$5,264$4,758$4,296$3,875$3,492$2,441
11 years$4,737$4,236$3,782$3,373$3,004$2,012
12 years$4,298$3,802$3,357$2,958$2,603$1,669
13 years$3,926$3,436$2,999$2,612$2,270$1,392
14 years$3,608$3,123$2,695$2,318$1,990$1,166
15 years$3,333$2,853$2,433$2,067$1,752$981
16 years$3,092$2,618$2,206$1,851$1,548$827
17 years$2,880$2,411$2,007$1,663$1,373$699
18 years$2,692$2,228$1,832$1,499$1,221$592
19 years$2,524$2,064$1,677$1,354$1,088$502
20 years$2,372$1,918$1,539$1,227$972$426
21 years$2,236$1,787$1,416$1,113$870$363
22 years$2,111$1,668$1,305$1,012$780$309
23 years$1,998$1,560$1,205$922$700$263
24 years$1,895$1,462$1,114$841$629$224
25 years$1,800$1,372$1,032$768$566$191
26 years$1,712$1,289$957$702$510$163
27 years$1,631$1,213$889$643$460$139
28 years$1,556$1,143$826$589$415$119
29 years$1,486$1,079$769$540$374$102
30 years$1,421$1,019$716$496$338$87
31 years$1,360$963$668$455$306$74
32 years$1,303$911$623$418$277$64
33 years$1,250$863$582$385$250$54
34 years$1,200$818$544$354$227$47
35 years$1,153$776$508$326$205$40
36 years$1,109$736$475$300$186$34
37 years$1,067$699$445$276$169$29
38 years$1,027$664$417$255$153$25
39 years$990$632$390$235$139$21
40 years$954$601$366$217$126$18
41 years$921$572$343$200$114$16
42 years$889$545$322$185$104$13
43 years$858$519$302$170$94$11
44 years$829$495$283$157$85$10
45 years$802$472$266$145$77$8
46 years$775$450$250$134$70$7
47 years$750$430$235$124$64$6
48 years$726$410$221$115$58$5
49 years$703$392$207$106$53$5
50 years$681$374$195$98$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $698,000, adding $4,465 every year, while hoping to spend $23,844 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: 82/5/13 Blend
66$698,000$698,000$698,000$698,000
67$773,802$736,808$725,989$835,007
68$827,360$747,541$724,939$886,538
69$885,581$758,002$723,056$939,517
70$948,917$768,151$720,285$996,984
71$1,017,863$777,947$716,571$1,059,378
72$1,092,965$787,345$711,855$1,127,182
73$1,174,822$796,300$706,077$1,200,926
74$1,264,095$804,760$699,172$1,281,198
75$1,361,511$812,672$691,073$1,368,641
76$1,467,871$819,979$681,710$1,463,967
77$1,584,056$826,620$671,009$1,567,959
78$1,711,035$832,529$658,893$1,681,480
79$1,849,876$837,639$645,282$1,805,481
80$2,001,755$841,874$630,090$1,941,007
81$2,167,966$845,158$613,230$2,089,214
82$2,349,935$847,407$594,609$2,251,372
83$2,549,230$848,532$574,131$2,428,883
84$2,767,582$848,440$551,694$2,623,290
85$3,006,892$847,031$527,193$2,836,294
86$3,269,259$844,199$500,518$3,069,768
87$3,556,990$839,831$471,552$3,325,779
88$3,872,629$833,809$440,175$3,606,602
89$4,218,977$826,006$406,261$3,914,744
90$4,599,120$816,287$369,678$4,252,970
91$5,016,456$804,512$330,288$4,624,325
92$5,474,730$790,528$287,948$5,032,166
93$5,978,065$774,177$242,507$5,480,189
94$6,531,006$755,289$193,809$5,972,472
95$7,138,556$733,687$141,690$6,513,505
96$7,806,231$709,179$85,978$7,108,239
97$8,540,104$681,566$26,496$7,762,128
98$9,346,867$650,635$0$8,481,183
99$10,233,894$616,163$0$9,277,160
100$11,209,308$577,911$0$10,156,485