Can I retire at age 66 with 623,000?

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 $623,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$51,447$50,988$50,541$50,105$49,679$48,856
2 years$25,469$24,994$24,535$24,089$23,657$22,830
3 years$16,810$16,334$15,876$15,434$15,009$14,204
4 years$12,482$12,007$11,553$11,119$10,704$9,928
5 years$9,886$9,414$8,966$8,541$8,137$7,391
6 years$8,156$7,687$7,246$6,830$6,439$5,724
7 years$6,920$6,456$6,021$5,615$5,236$4,553
8 years$5,994$5,534$5,106$4,711$4,344$3,692
9 years$5,274$4,818$4,398$4,012$3,658$3,037
10 years$4,698$4,247$3,834$3,459$3,117$2,527
11 years$4,228$3,781$3,376$3,010$2,681$2,120
12 years$3,836$3,393$2,996$2,640$2,323$1,792
13 years$3,504$3,067$2,677$2,331$2,026$1,523
14 years$3,221$2,787$2,405$2,069$1,776$1,300
15 years$2,975$2,546$2,171$1,845$1,564$1,114
16 years$2,760$2,336$1,969$1,652$1,382$958
17 years$2,571$2,152$1,791$1,485$1,225$826
18 years$2,403$1,988$1,635$1,338$1,089$714
19 years$2,252$1,843$1,497$1,209$971$619
20 years$2,117$1,712$1,374$1,095$867$537
21 years$1,995$1,595$1,264$994$776$466
22 years$1,885$1,489$1,165$903$696$406
23 years$1,784$1,392$1,075$823$625$353
24 years$1,691$1,305$995$750$561$308
25 years$1,606$1,224$921$685$505$269
26 years$1,528$1,151$854$627$455$235
27 years$1,456$1,083$793$574$410$205
28 years$1,389$1,020$738$526$370$179
29 years$1,326$963$686$482$334$157
30 years$1,268$909$639$442$302$137
31 years$1,214$859$596$406$273$120
32 years$1,163$813$556$373$247$105
33 years$1,116$770$519$343$224$92
34 years$1,071$730$485$316$202$80
35 years$1,029$692$454$291$183$70
36 years$989$657$424$268$166$62
37 years$952$624$397$247$151$54
38 years$917$593$372$227$136$47
39 years$883$564$348$210$124$42
40 years$852$537$327$193$112$36
41 years$822$511$306$178$102$32
42 years$793$486$287$165$92$28
43 years$766$463$270$152$84$25
44 years$740$442$253$140$76$22
45 years$716$421$238$130$69$19
46 years$692$402$223$120$63$17
47 years$670$384$210$111$57$15
48 years$648$366$197$102$52$13
49 years$628$350$185$94$47$11
50 years$608$334$174$87$43$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $623,000, adding $5,245 every year, while hoping to spend $28,675 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: 62/14/24 Blend
65$623,000$623,000$623,000$623,000
66$691,956$658,937$649,281$730,169
67$732,026$660,715$640,522$758,441
68$775,221$661,619$630,508$785,678
69$821,832$661,576$619,168$814,782
70$872,173$660,508$606,425$845,940
71$926,595$658,334$592,200$879,358
72$985,480$654,964$576,411$915,265
73$1,049,249$650,307$558,971$953,912
74$1,118,365$644,265$539,789$995,580
75$1,193,337$636,732$518,770$1,040,577
76$1,274,724$627,599$495,816$1,089,245
77$1,363,142$616,747$470,822$1,141,962
78$1,459,268$604,053$443,680$1,199,145
79$1,563,847$589,386$414,277$1,261,256
80$1,677,698$572,605$382,494$1,328,805
81$1,801,725$553,564$348,209$1,402,357
82$1,936,918$532,106$311,291$1,482,534
83$2,084,371$508,066$271,607$1,570,025
84$2,245,285$481,270$229,014$1,665,592
85$2,420,985$451,532$183,366$1,770,074
86$2,612,926$418,658$134,510$1,884,401
87$2,822,712$382,440$82,284$2,009,598
88$3,052,110$342,661$26,522$2,146,798
89$3,303,063$299,089$0$2,297,252
90$3,577,712$251,481$0$2,470,790
91$3,878,414$199,579$0$2,668,286
92$4,207,764$143,110$0$2,884,674
93$4,568,621$81,788$0$3,121,866
94$4,964,133$15,308$0$3,381,966
95$5,397,767$0$0$3,667,298
96$5,873,341$0$0$3,989,145
97$6,395,061$0$0$4,344,857
98$6,967,560$0$0$4,735,239
99$7,595,941$0$0$5,163,778
100$8,285,823$0$0$5,634,311