Can I retire at age 67 with 704,000?

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 $704,000?

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$58,136$57,618$57,113$56,619$56,138$54,692
2 years$28,780$28,244$27,725$27,221$26,732$25,285
3 years$18,996$18,458$17,940$17,441$16,960$15,557
4 years$14,105$13,568$13,055$12,565$12,096$10,748
5 years$11,171$10,638$10,132$9,651$9,195$7,906
6 years$9,216$8,687$8,188$7,718$7,276$6,046
7 years$7,820$7,295$6,804$6,345$5,917$4,748
8 years$6,773$6,253$5,770$5,323$4,909$3,799
9 years$5,960$5,444$4,970$4,534$4,134$3,082
10 years$5,309$4,799$4,333$3,908$3,522$2,528
11 years$4,777$4,272$3,815$3,401$3,029$2,090
12 years$4,335$3,835$3,385$2,984$2,625$1,740
13 years$3,960$3,465$3,025$2,634$2,289$1,456
14 years$3,639$3,150$2,718$2,338$2,007$1,224
15 years$3,362$2,877$2,454$2,085$1,767$1,033
16 years$3,119$2,640$2,225$1,867$1,562$874
17 years$2,905$2,431$2,024$1,678$1,385$741
18 years$2,715$2,247$1,848$1,512$1,231$630
19 years$2,545$2,082$1,692$1,366$1,097$536
20 years$2,393$1,935$1,553$1,237$980$457
21 years$2,255$1,802$1,428$1,123$877$390
22 years$2,130$1,682$1,316$1,021$786$334
23 years$2,015$1,573$1,215$930$706$285
24 years$1,911$1,474$1,124$848$634$244
25 years$1,815$1,384$1,041$774$571$209
26 years$1,727$1,300$965$708$514$179
27 years$1,645$1,224$897$648$464$154
28 years$1,569$1,153$833$594$418$132
29 years$1,499$1,088$776$545$378$113
30 years$1,433$1,027$722$500$341$97
31 years$1,372$971$673$459$309$83
32 years$1,314$919$628$422$279$72
33 years$1,261$870$587$388$253$62
34 years$1,210$825$548$357$229$53
35 years$1,163$782$513$329$207$45
36 years$1,118$743$479$303$188$39
37 years$1,076$705$449$279$170$34
38 years$1,036$670$420$257$154$29
39 years$998$637$394$237$140$25
40 years$962$606$369$219$127$21
41 years$929$577$346$202$115$18
42 years$896$550$325$186$104$16
43 years$866$524$305$172$95$14
44 years$836$499$286$159$86$12
45 years$809$476$268$146$78$10
46 years$782$454$252$135$71$9
47 years$757$433$237$125$64$7
48 years$733$414$223$116$58$6
49 years$709$395$209$107$53$5
50 years$687$377$197$99$48$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $704,000, adding $5,448 every year, while hoping to spend $26,315 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: 36/42/22 Blend
66$704,000$704,000$704,000$704,000
67$781,428$744,116$733,204$804,196
68$833,134$752,578$729,767$829,830
69$889,233$760,574$725,333$854,657
70$950,144$768,051$719,841$880,926
71$1,016,330$774,957$713,227$908,782
72$1,088,298$781,232$705,423$938,387
73$1,166,609$786,817$696,359$969,919
74$1,251,878$791,646$685,962$1,003,577
75$1,344,782$795,649$674,154$1,039,581
76$1,446,066$798,752$660,854$1,078,177
77$1,556,551$800,877$645,979$1,119,635
78$1,677,139$801,940$629,439$1,164,258
79$1,808,825$801,853$611,143$1,212,380
80$1,952,702$800,520$590,993$1,264,370
81$2,109,975$797,843$568,889$1,320,641
82$2,281,970$793,715$544,724$1,381,647
83$2,470,146$788,023$518,388$1,447,893
84$2,676,113$780,647$489,766$1,519,937
85$2,901,639$771,462$458,736$1,598,399
86$3,148,675$760,332$425,172$1,683,965
87$3,419,367$747,116$388,942$1,777,393
88$3,716,080$731,662$349,909$1,879,524
89$4,041,417$713,810$307,929$1,991,288
90$4,398,247$693,393$262,850$2,113,714
91$4,789,730$670,230$214,516$2,247,941
92$5,219,343$644,132$162,763$2,395,228
93$5,690,920$614,899$107,420$2,556,970
94$6,208,683$582,318$48,308$2,734,706
95$6,777,283$546,166$0$2,930,141
96$7,401,842$506,204$0$3,148,626
97$8,088,004$462,183$0$3,401,104
98$8,841,987$413,836$0$3,678,570
99$9,670,640$360,884$0$3,983,620
100$10,581,509$303,031$0$4,319,116