Can I retire at age 66 with 704,000?

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 $704,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$58,136$57,618$57,113$56,619$56,138$55,140
2 years$28,780$28,244$27,725$27,221$26,732$25,730
3 years$18,996$18,458$17,940$17,441$16,960$15,985
4 years$14,105$13,568$13,055$12,565$12,096$11,156
5 years$11,171$10,638$10,132$9,651$9,195$8,292
6 years$9,216$8,687$8,188$7,718$7,276$6,411
7 years$7,820$7,295$6,804$6,345$5,917$5,091
8 years$6,773$6,253$5,770$5,323$4,909$4,121
9 years$5,960$5,444$4,970$4,534$4,134$3,384
10 years$5,309$4,799$4,333$3,908$3,522$2,810
11 years$4,777$4,272$3,815$3,401$3,029$2,354
12 years$4,335$3,835$3,385$2,984$2,625$1,985
13 years$3,960$3,465$3,025$2,634$2,289$1,684
14 years$3,639$3,150$2,718$2,338$2,007$1,435
15 years$3,362$2,877$2,454$2,085$1,767$1,227
16 years$3,119$2,640$2,225$1,867$1,562$1,053
17 years$2,905$2,431$2,024$1,678$1,385$906
18 years$2,715$2,247$1,848$1,512$1,231$782
19 years$2,545$2,082$1,692$1,366$1,097$675
20 years$2,393$1,935$1,553$1,237$980$585
21 years$2,255$1,802$1,428$1,123$877$507
22 years$2,130$1,682$1,316$1,021$786$440
23 years$2,015$1,573$1,215$930$706$382
24 years$1,911$1,474$1,124$848$634$332
25 years$1,815$1,384$1,041$774$571$289
26 years$1,727$1,300$965$708$514$252
27 years$1,645$1,224$897$648$464$220
28 years$1,569$1,153$833$594$418$191
29 years$1,499$1,088$776$545$378$167
30 years$1,433$1,027$722$500$341$146
31 years$1,372$971$673$459$309$127
32 years$1,314$919$628$422$279$111
33 years$1,261$870$587$388$253$97
34 years$1,210$825$548$357$229$85
35 years$1,163$782$513$329$207$74
36 years$1,118$743$479$303$188$65
37 years$1,076$705$449$279$170$57
38 years$1,036$670$420$257$154$49
39 years$998$637$394$237$140$43
40 years$962$606$369$219$127$38
41 years$929$577$346$202$115$33
42 years$896$550$325$186$104$29
43 years$866$524$305$172$95$25
44 years$836$499$286$159$86$22
45 years$809$476$268$146$78$19
46 years$782$454$252$135$71$17
47 years$757$433$237$125$64$15
48 years$733$414$223$116$58$13
49 years$709$395$209$107$53$11
50 years$687$377$197$99$48$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $704,000, adding $5,406 every year, while hoping to spend $22,078 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: 52/36/12 Blend
65$704,000$704,000$704,000$704,000
66$781,384$744,072$733,160$819,266
67$837,595$757,041$734,230$858,678
68$898,799$769,905$734,596$898,709
69$965,482$782,637$734,211$941,739
70$1,038,180$795,204$733,026$988,055
71$1,117,481$807,576$730,989$1,037,978
72$1,204,032$819,716$728,046$1,091,858
73$1,298,548$831,587$724,140$1,150,082
74$1,401,814$843,148$719,212$1,213,079
75$1,514,693$854,356$713,200$1,281,319
76$1,638,137$865,165$706,038$1,355,322
77$1,773,195$875,526$697,658$1,435,662
78$1,921,019$885,385$687,988$1,522,970
79$2,082,881$894,687$676,953$1,617,945
80$2,260,179$903,371$664,475$1,721,356
81$2,454,454$911,373$650,471$1,834,051
82$2,667,403$918,624$634,857$1,956,967
83$2,900,894$925,053$617,540$2,091,135
84$3,156,986$930,581$598,429$2,237,694
85$3,437,945$935,127$577,423$2,397,900
86$3,746,270$938,602$554,421$2,573,138
87$4,084,709$940,913$529,314$2,764,937
88$4,456,293$941,962$501,990$2,974,979
89$4,864,360$941,643$472,331$3,205,125
90$5,312,586$939,844$440,215$3,457,423
91$5,805,020$936,448$405,513$3,734,134
92$6,346,125$931,327$368,091$4,037,751
93$6,940,816$924,348$327,809$4,371,021
94$7,594,509$915,370$284,519$4,736,978
95$8,313,168$904,243$238,070$5,138,963
96$9,103,367$890,807$188,302$5,580,665
97$9,972,348$874,894$135,047$6,066,147
98$10,928,088$856,324$78,132$6,599,894
99$11,979,379$834,910$17,375$7,186,848
100$13,135,905$810,450$0$7,832,460