Can I retire at age 66 with 512,000?

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 $512,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$42,280$41,904$41,536$41,178$40,828$39,938
2 years$20,931$20,541$20,163$19,797$19,442$18,550
3 years$13,815$13,424$13,047$12,684$12,335$11,468
4 years$10,258$9,868$9,495$9,138$8,797$7,963
5 years$8,125$7,737$7,368$7,019$6,687$5,888
6 years$6,703$6,318$5,955$5,613$5,292$4,528
7 years$5,687$5,305$4,948$4,615$4,303$3,576
8 years$4,926$4,548$4,197$3,871$3,570$2,878
9 years$4,334$3,960$3,615$3,298$3,007$2,349
10 years$3,861$3,490$3,151$2,842$2,562$1,938
11 years$3,475$3,107$2,774$2,474$2,203$1,613
12 years$3,152$2,789$2,462$2,170$1,909$1,352
13 years$2,880$2,520$2,200$1,916$1,665$1,139
14 years$2,647$2,291$1,977$1,701$1,459$964
15 years$2,445$2,093$1,785$1,517$1,285$819
16 years$2,268$1,920$1,618$1,358$1,136$698
17 years$2,113$1,768$1,472$1,220$1,007$596
18 years$1,975$1,634$1,344$1,100$895$511
19 years$1,851$1,514$1,230$994$798$438
20 years$1,740$1,407$1,129$900$713$376
21 years$1,640$1,311$1,039$817$638$324
22 years$1,549$1,224$957$743$572$279
23 years$1,466$1,144$884$676$513$240
24 years$1,390$1,072$817$617$461$207
25 years$1,320$1,006$757$563$415$179
26 years$1,256$946$702$515$374$155
27 years$1,196$890$652$471$337$134
28 years$1,141$839$606$432$304$116
29 years$1,090$791$564$396$275$100
30 years$1,042$747$525$363$248$87
31 years$998$706$490$334$224$75
32 years$956$668$457$307$203$65
33 years$917$633$427$282$184$56
34 years$880$600$399$260$166$49
35 years$846$569$373$239$151$42
36 years$813$540$349$220$136$37
37 years$782$513$326$203$124$32
38 years$753$487$306$187$112$27
39 years$726$463$286$172$102$24
40 years$700$441$268$159$92$21
41 years$675$420$252$147$84$18
42 years$652$400$236$135$76$16
43 years$630$381$222$125$69$13
44 years$608$363$208$115$63$12
45 years$588$346$195$107$57$10
46 years$569$330$183$98$52$9
47 years$550$315$172$91$47$8
48 years$533$301$162$84$43$7
49 years$516$287$152$78$39$6
50 years$500$274$143$72$35$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $512,000, adding $6,506 every year, while hoping to spend $21,327 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: 52/40/8 Blend
65$512,000$512,000$512,000$512,000
66$570,935$543,799$535,863$599,146
67$606,479$547,753$531,123$622,996
68$644,933$551,187$525,509$646,062
69$686,572$554,051$518,969$670,640
70$731,698$556,295$511,450$696,876
71$780,642$557,865$502,895$724,934
72$833,770$558,702$493,244$754,992
73$891,482$558,746$482,435$787,251
74$954,219$557,930$470,403$821,930
75$1,022,467$556,187$457,079$859,273
76$1,096,761$553,442$442,394$899,549
77$1,177,688$549,618$426,271$943,057
78$1,265,895$544,632$408,633$990,126
79$1,362,093$538,396$389,400$1,041,120
80$1,467,066$530,817$368,485$1,096,443
81$1,581,677$521,797$345,799$1,156,540
82$1,706,875$511,232$321,250$1,221,903
83$1,843,705$499,011$294,740$1,293,078
84$1,993,317$485,017$266,169$1,370,666
85$2,156,979$469,127$235,429$1,455,333
86$2,336,085$451,208$202,410$1,547,814
87$2,532,172$431,123$166,997$1,648,920
88$2,746,930$408,725$129,068$1,759,551
89$2,982,223$383,858$88,497$1,880,698
90$3,240,101$356,359$45,153$2,013,457
91$3,522,824$326,053$0$2,159,038
92$3,832,880$292,758$0$2,318,872
93$4,173,010$256,279$0$2,498,462
94$4,546,232$216,412$0$2,695,593
95$4,955,871$172,940$0$2,912,080
96$5,405,591$125,634$0$3,149,925
97$5,899,424$74,253$0$3,411,339
98$6,441,816$18,543$0$3,698,762
99$7,037,663$0$0$4,014,886
100$7,692,357$0$0$4,381,067