Can I retire at age 67 with 712,000?

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 $712,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$58,796$58,273$57,762$57,263$56,776$56,300
2 years$29,107$28,565$28,040$27,530$27,036$26,557
3 years$19,212$18,668$18,143$17,639$17,153$16,684
4 years$14,265$13,723$13,204$12,708$12,234$11,780
5 years$11,298$10,759$10,247$9,761$9,300$8,862
6 years$9,321$8,785$8,281$7,806$7,359$6,938
7 years$7,909$7,378$6,881$6,418$5,984$5,580
8 years$6,850$6,324$5,836$5,384$4,965$4,577
9 years$6,028$5,506$5,027$4,586$4,181$3,810
10 years$5,370$4,854$4,382$3,953$3,562$3,208
11 years$4,832$4,321$3,858$3,440$3,064$2,726
12 years$4,384$3,878$3,424$3,017$2,655$2,333
13 years$4,005$3,505$3,059$2,664$2,315$2,009
14 years$3,681$3,186$2,749$2,365$2,030$1,738
15 years$3,400$2,910$2,482$2,109$1,787$1,510
16 years$3,154$2,670$2,250$1,888$1,579$1,317
17 years$2,938$2,459$2,047$1,697$1,400$1,152
18 years$2,746$2,272$1,869$1,529$1,245$1,010
19 years$2,574$2,106$1,711$1,382$1,110$887
20 years$2,420$1,957$1,570$1,251$991$781
21 years$2,280$1,823$1,444$1,136$887$689
22 years$2,154$1,701$1,331$1,033$795$609
23 years$2,038$1,591$1,229$940$714$538
24 years$1,933$1,491$1,137$858$642$476
25 years$1,836$1,399$1,053$783$577$422
26 years$1,746$1,315$976$716$520$375
27 years$1,664$1,238$907$656$469$332
28 years$1,587$1,166$843$601$423$295
29 years$1,516$1,100$784$551$382$262
30 years$1,449$1,039$731$505$345$233
31 years$1,387$982$681$464$312$208
32 years$1,329$929$636$427$282$185
33 years$1,275$880$593$392$255$164
34 years$1,224$834$554$361$231$146
35 years$1,176$791$518$332$209$130
36 years$1,131$751$485$306$190$116
37 years$1,088$713$454$282$172$104
38 years$1,048$678$425$260$156$92
39 years$1,010$645$398$240$141$82
40 years$973$613$373$221$128$73
41 years$939$584$350$204$116$65
42 years$906$556$328$188$106$58
43 years$875$530$308$174$96$52
44 years$846$505$289$160$87$46
45 years$818$481$272$148$79$41
46 years$791$459$255$137$72$37
47 years$765$438$240$126$65$33
48 years$741$418$225$117$59$29
49 years$718$400$212$108$54$26
50 years$695$382$199$100$49$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $712,000, adding $6,842 every year, while hoping to spend $21,699 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: 78/12/10 Blend
66$712,000$712,000$712,000$712,000
67$791,682$753,946$742,910$851,557
68$849,345$767,801$744,709$905,730
69$912,164$781,609$745,842$961,646
70$980,640$795,343$746,263$1,022,344
71$1,055,326$808,976$745,924$1,088,291
72$1,136,832$822,478$744,776$1,160,002
73$1,225,829$835,820$742,765$1,238,045
74$1,323,054$848,965$739,838$1,323,044
75$1,429,320$861,879$735,937$1,415,686
76$1,545,522$874,522$731,002$1,516,730
77$1,672,644$886,852$724,970$1,627,010
78$1,811,771$898,825$717,774$1,747,447
79$1,964,097$910,394$709,345$1,879,054
80$2,130,938$921,506$699,610$2,022,947
81$2,313,741$932,107$688,495$2,180,356
82$2,514,101$942,140$675,919$2,352,638
83$2,733,776$951,541$661,799$2,541,286
84$2,974,700$960,245$646,047$2,747,945
85$3,239,003$968,181$628,574$2,974,429
86$3,529,033$975,273$609,283$3,222,735
87$3,847,376$981,443$588,075$3,495,067
88$4,196,878$986,603$564,845$3,793,850
89$4,580,677$990,664$539,485$4,121,759
90$5,002,229$993,529$511,880$4,481,740
91$5,465,340$995,096$481,912$4,877,039
92$5,974,204$995,255$449,456$5,311,236
93$6,533,441$993,892$414,381$5,788,273
94$7,148,142$990,882$376,552$6,312,497
95$7,823,913$986,096$335,828$6,888,696
96$8,566,933$979,395$292,058$7,522,148
97$9,384,007$970,633$245,090$8,218,670
98$10,282,636$959,653$194,760$8,984,670
99$11,271,080$946,292$140,900$9,827,212
100$12,358,444$930,374$83,334$10,754,082