Can I retire at age 67 with 711,000?

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 $711,000?

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$58,714$58,191$57,680$57,182$56,696$56,339
2 years$29,066$28,525$28,000$27,492$26,998$26,638
3 years$19,185$18,641$18,118$17,614$17,129$16,776
4 years$14,245$13,703$13,185$12,690$12,216$11,875
5 years$11,282$10,744$10,232$9,747$9,287$8,957
6 years$9,308$8,773$8,269$7,795$7,348$7,031
7 years$7,898$7,368$6,872$6,409$5,976$5,671
8 years$6,841$6,315$5,828$5,376$4,958$4,665
9 years$6,019$5,499$5,019$4,579$4,175$3,894
10 years$5,362$4,847$4,376$3,947$3,557$3,289
11 years$4,825$4,315$3,853$3,435$3,060$2,803
12 years$4,378$3,873$3,419$3,013$2,651$2,406
13 years$3,999$3,500$3,055$2,660$2,312$2,079
14 years$3,676$3,181$2,745$2,361$2,027$1,805
15 years$3,395$2,906$2,478$2,106$1,784$1,573
16 years$3,150$2,666$2,247$1,886$1,577$1,376
17 years$2,934$2,456$2,044$1,694$1,398$1,208
18 years$2,742$2,269$1,866$1,527$1,243$1,063
19 years$2,571$2,103$1,709$1,380$1,108$938
20 years$2,416$1,954$1,568$1,250$990$828
21 years$2,277$1,820$1,442$1,134$886$733
22 years$2,151$1,699$1,329$1,031$794$650
23 years$2,035$1,589$1,227$939$713$577
24 years$1,930$1,489$1,135$856$641$513
25 years$1,833$1,397$1,051$782$576$456
26 years$1,744$1,313$975$715$519$406
27 years$1,661$1,236$905$655$468$362
28 years$1,585$1,165$842$600$422$323
29 years$1,514$1,099$783$550$381$288
30 years$1,447$1,038$730$505$345$257
31 years$1,385$981$680$464$312$230
32 years$1,328$928$635$426$282$205
33 years$1,273$879$593$392$255$183
34 years$1,222$833$554$360$231$164
35 years$1,174$790$518$332$209$147
36 years$1,129$750$484$306$190$131
37 years$1,087$712$453$282$172$118
38 years$1,046$677$424$260$156$105
39 years$1,008$644$398$239$141$94
40 years$972$612$373$221$128$84
41 years$938$583$349$204$116$76
42 years$905$555$328$188$105$68
43 years$874$529$308$173$96$61
44 years$845$504$289$160$87$54
45 years$817$481$271$148$79$49
46 years$790$459$255$137$72$44
47 years$764$438$239$126$65$39
48 years$740$418$225$117$59$35
49 years$717$399$211$108$54$31
50 years$694$381$199$100$49$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $711,000, adding $2,303 every year, while hoping to spend $20,897 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: 38/49/13 Blend
66$711,000$711,000$711,000$711,000
67$785,898$748,215$737,194$812,578
68$843,825$762,643$739,656$846,235
69$906,960$777,078$741,500$880,388
70$975,813$791,497$742,683$916,840
71$1,050,944$805,879$743,160$955,808
72$1,132,969$820,196$742,885$997,531
73$1,222,568$834,421$741,808$1,042,272
74$1,320,489$848,526$739,877$1,090,323
75$1,427,553$862,479$737,038$1,142,004
76$1,544,668$876,245$733,233$1,197,670
77$1,672,831$889,788$728,403$1,257,712
78$1,813,141$903,068$722,486$1,322,562
79$1,966,807$916,045$715,415$1,392,695
80$2,135,162$928,672$707,122$1,468,638
81$2,319,674$940,901$697,535$1,550,970
82$2,521,957$952,682$686,579$1,640,332
83$2,743,792$963,959$674,175$1,737,430
84$2,987,139$974,673$660,240$1,843,044
85$3,254,156$984,761$644,688$1,958,033
86$3,547,223$994,158$627,428$2,083,349
87$3,868,959$1,002,790$608,366$2,220,037
88$4,222,250$1,010,584$587,402$2,369,255
89$4,610,273$1,017,456$564,435$2,532,278
90$5,036,532$1,023,323$539,354$2,710,514
91$5,504,883$1,028,091$512,048$2,905,516
92$6,019,577$1,031,663$482,397$3,118,998
93$6,585,296$1,033,936$450,279$3,352,850
94$7,207,197$1,034,800$415,564$3,609,159
95$7,890,963$1,034,137$378,118$3,890,227
96$8,642,855$1,031,824$337,799$4,198,591
97$9,469,772$1,027,728$294,460$4,537,055
98$10,379,312$1,021,710$247,947$4,908,707
99$11,379,849$1,013,621$198,101$5,316,956
100$12,480,609$1,003,305$144,753$5,765,563