Can I retire at age 66 with 596,000?

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 $596,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$49,217$48,779$48,351$47,934$47,526$47,207
2 years$24,365$23,911$23,471$23,045$22,631$22,309
3 years$16,082$15,626$15,188$14,765$14,358$14,043
4 years$11,941$11,487$11,053$10,637$10,240$9,935
5 years$9,457$9,006$8,577$8,171$7,785$7,490
6 years$7,802$7,354$6,932$6,534$6,160$5,876
7 years$6,620$6,176$5,760$5,372$5,009$4,737
8 years$5,734$5,294$4,885$4,506$4,156$3,894
9 years$5,046$4,609$4,208$3,839$3,500$3,249
10 years$4,495$4,063$3,668$3,309$2,982$2,743
11 years$4,045$3,617$3,230$2,880$2,565$2,336
12 years$3,670$3,246$2,866$2,526$2,222$2,004
13 years$3,353$2,934$2,561$2,230$1,938$1,730
14 years$3,081$2,667$2,301$1,980$1,699$1,501
15 years$2,846$2,436$2,077$1,765$1,496$1,308
16 years$2,641$2,235$1,883$1,581$1,322$1,143
17 years$2,459$2,058$1,714$1,420$1,172$1,003
18 years$2,299$1,902$1,564$1,280$1,042$882
19 years$2,155$1,763$1,432$1,157$929$777
20 years$2,026$1,638$1,314$1,047$830$686
21 years$1,909$1,526$1,209$951$743$607
22 years$1,803$1,424$1,114$864$666$538
23 years$1,706$1,332$1,029$787$597$477
24 years$1,618$1,248$951$718$537$424
25 years$1,537$1,171$881$656$483$376
26 years$1,462$1,101$817$600$435$335
27 years$1,393$1,036$759$549$392$298
28 years$1,328$976$706$503$354$266
29 years$1,269$921$657$461$320$237
30 years$1,213$870$612$423$289$211
31 years$1,161$822$570$389$261$189
32 years$1,113$778$532$357$236$168
33 years$1,067$737$497$328$214$150
34 years$1,025$698$464$302$194$134
35 years$984$662$434$278$175$120
36 years$947$629$406$256$159$107
37 years$911$597$380$236$144$96
38 years$877$567$356$218$131$86
39 years$845$540$333$201$118$77
40 years$815$513$312$185$107$69
41 years$786$489$293$171$97$62
42 years$759$465$275$158$88$55
43 years$733$443$258$145$80$49
44 years$708$423$242$134$73$44
45 years$685$403$227$124$66$40
46 years$662$384$213$115$60$35
47 years$641$367$201$106$55$32
48 years$620$350$188$98$49$28
49 years$601$334$177$90$45$25
50 years$582$320$167$84$41$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $596,000, adding $2,851 every year, while hoping to spend $34,013 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: 69/15/16 Blend
65$596,000$596,000$596,000$596,000
66$659,733$628,145$618,907$702,584
67$690,836$622,734$603,451$726,079
68$723,972$615,919$586,337$747,467
69$759,311$607,593$567,474$770,007
70$797,043$597,647$546,766$793,809
71$837,372$585,962$524,113$818,993
72$880,524$572,414$499,410$845,696
73$926,746$556,872$472,550$874,066
74$976,310$539,194$443,416$904,268
75$1,029,512$519,234$411,889$936,486
76$1,086,681$496,835$377,846$970,923
77$1,148,174$471,831$341,155$1,007,805
78$1,214,384$444,047$301,681$1,047,380
79$1,285,745$413,299$259,280$1,089,925
80$1,362,730$379,390$213,806$1,135,745
81$1,445,862$342,113$165,101$1,185,179
82$1,535,714$301,251$113,006$1,238,603
83$1,632,915$256,570$57,350$1,296,429
84$1,738,158$207,828$0$1,359,119
85$1,852,205$154,766$0$1,427,529
86$1,975,892$97,112$0$1,512,342
87$2,110,140$34,578$0$1,604,413
88$2,255,962$0$0$1,704,463
89$2,414,471$0$0$1,818,759
90$2,586,893$0$0$1,949,325
91$2,774,575$0$0$2,091,477
92$2,979,001$0$0$2,246,344
93$3,201,804$0$0$2,415,165
94$3,444,779$0$0$2,599,307
95$3,709,904$0$0$2,800,271
96$3,999,355$0$0$3,019,713
97$4,315,528$0$0$3,259,453
98$4,661,059$0$0$3,521,496
99$5,038,854$0$0$3,808,049
100$5,452,108$0$0$4,121,542