Can I retire at age 66 with 598,000?

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 $598,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$49,382$48,942$48,513$48,094$47,685$46,159
2 years$24,447$23,991$23,550$23,122$22,707$21,184
3 years$16,136$15,679$15,238$14,815$14,406$12,933
4 years$11,981$11,525$11,090$10,673$10,275$8,863
5 years$9,489$9,036$8,606$8,198$7,811$6,465
6 years$7,828$7,379$6,955$6,556$6,180$4,901
7 years$6,643$6,197$5,780$5,390$5,026$3,814
8 years$5,754$5,312$4,902$4,522$4,170$3,023
9 years$5,062$4,625$4,222$3,851$3,512$2,429
10 years$4,510$4,076$3,681$3,320$2,992$1,972
11 years$4,058$3,629$3,240$2,889$2,573$1,614
12 years$3,682$3,257$2,876$2,534$2,230$1,330
13 years$3,364$2,944$2,569$2,237$1,945$1,101
14 years$3,091$2,676$2,308$1,986$1,705$915
15 years$2,856$2,444$2,084$1,771$1,501$763
16 years$2,649$2,243$1,890$1,586$1,326$639
17 years$2,468$2,065$1,720$1,425$1,176$535
18 years$2,306$1,908$1,570$1,284$1,046$450
19 years$2,162$1,769$1,437$1,160$932$378
20 years$2,032$1,644$1,319$1,051$833$319
21 years$1,915$1,531$1,213$954$745$269
22 years$1,809$1,429$1,118$867$668$227
23 years$1,712$1,337$1,032$790$599$192
24 years$1,623$1,252$955$720$539$162
25 years$1,542$1,175$884$658$485$137
26 years$1,467$1,105$820$602$437$116
27 years$1,397$1,039$762$551$394$98
28 years$1,333$979$708$504$355$83
29 years$1,273$924$659$463$321$70
30 years$1,217$873$614$425$290$60
31 years$1,165$825$572$390$262$50
32 years$1,117$781$534$358$237$43
33 years$1,071$739$498$330$215$36
34 years$1,028$701$466$303$194$31
35 years$988$665$435$279$176$26
36 years$950$631$407$257$159$22
37 years$914$599$381$237$144$19
38 years$880$569$357$218$131$16
39 years$848$541$334$201$119$13
40 years$818$515$313$186$108$11
41 years$789$490$294$171$98$10
42 years$761$467$276$158$89$8
43 years$735$445$259$146$80$7
44 years$711$424$243$135$73$6
45 years$687$404$228$124$66$5
46 years$664$386$214$115$60$4
47 years$643$368$201$106$55$4
48 years$622$351$189$98$50$3
49 years$603$336$178$91$45$3
50 years$584$321$167$84$41$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $598,000, adding $6,934 every year, while hoping to spend $43,354 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: 35/39/26 Blend
65$598,000$598,000$598,000$598,000
66$666,148$634,454$625,185$684,034
67$687,967$619,414$600,001$682,914
68$710,559$602,184$572,519$677,286
69$733,955$582,611$542,619$670,363
70$758,193$560,533$510,170$662,058
71$783,307$535,778$475,040$652,279
72$809,339$508,165$437,088$640,929
73$836,329$477,503$396,168$627,907
74$864,321$443,588$352,126$613,105
75$893,364$406,205$304,804$596,412
76$923,506$365,129$254,035$577,709
77$954,803$320,119$199,644$556,873
78$987,310$270,922$141,449$533,772
79$1,021,089$217,270$79,261$508,271
80$1,056,205$158,882$12,882$480,225
81$1,092,729$95,458$0$449,484
82$1,130,735$26,683$0$431,969
83$1,170,304$0$0$416,294
84$1,211,522$0$0$419,275
85$1,254,482$0$0$434,332
86$1,299,286$0$0$450,053
87$1,346,039$0$0$466,477
88$1,394,860$0$0$483,647
89$1,445,874$0$0$501,611
90$1,499,216$0$0$520,419
91$1,555,034$0$0$540,127
92$1,613,486$0$0$560,793
93$1,674,746$0$0$582,482
94$1,739,000$0$0$605,266
95$1,806,450$0$0$629,219
96$1,877,318$0$0$654,426
97$1,951,842$0$0$680,976
98$2,030,284$0$0$708,968
99$2,112,926$0$0$738,508
100$2,200,078$0$0$769,714