Can I retire at age 66 with 711,000?

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 $711,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$58,714$58,191$57,680$57,182$56,696$55,147
2 years$29,066$28,525$28,000$27,492$26,998$25,448
3 years$19,185$18,641$18,118$17,614$17,129$15,627
4 years$14,245$13,703$13,185$12,690$12,216$10,775
5 years$11,282$10,744$10,232$9,747$9,287$7,909
6 years$9,308$8,773$8,269$7,795$7,348$6,035
7 years$7,898$7,368$6,872$6,409$5,976$4,728
8 years$6,841$6,315$5,828$5,376$4,958$3,774
9 years$6,019$5,499$5,019$4,579$4,175$3,055
10 years$5,362$4,847$4,376$3,947$3,557$2,499
11 years$4,825$4,315$3,853$3,435$3,060$2,061
12 years$4,378$3,873$3,419$3,013$2,651$1,712
13 years$3,999$3,500$3,055$2,660$2,312$1,429
14 years$3,676$3,181$2,745$2,361$2,027$1,198
15 years$3,395$2,906$2,478$2,106$1,784$1,008
16 years$3,150$2,666$2,247$1,886$1,577$850
17 years$2,934$2,456$2,044$1,694$1,398$719
18 years$2,742$2,269$1,866$1,527$1,243$609
19 years$2,571$2,103$1,709$1,380$1,108$517
20 years$2,416$1,954$1,568$1,250$990$440
21 years$2,277$1,820$1,442$1,134$886$374
22 years$2,151$1,699$1,329$1,031$794$319
23 years$2,035$1,589$1,227$939$713$272
24 years$1,930$1,489$1,135$856$641$232
25 years$1,833$1,397$1,051$782$576$198
26 years$1,744$1,313$975$715$519$169
27 years$1,661$1,236$905$655$468$145
28 years$1,585$1,165$842$600$422$124
29 years$1,514$1,099$783$550$381$106
30 years$1,447$1,038$730$505$345$90
31 years$1,385$981$680$464$312$77
32 years$1,328$928$635$426$282$66
33 years$1,273$879$593$392$255$57
34 years$1,222$833$554$360$231$49
35 years$1,174$790$518$332$209$42
36 years$1,129$750$484$306$190$36
37 years$1,087$712$453$282$172$30
38 years$1,046$677$424$260$156$26
39 years$1,008$644$398$239$141$22
40 years$972$612$373$221$128$19
41 years$938$583$349$204$116$16
42 years$905$555$328$188$105$14
43 years$874$529$308$173$96$12
44 years$845$504$289$160$87$10
45 years$817$481$271$148$79$9
46 years$790$459$255$137$72$8
47 years$764$438$239$126$65$6
48 years$740$418$225$117$59$6
49 years$717$399$211$108$54$5
50 years$694$381$199$100$49$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $711,000, adding $4,004 every year, while hoping to spend $49,506 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: 56/26/18 Blend
65$711,000$711,000$711,000$711,000
66$787,652$749,969$738,949$827,776
67$815,319$734,044$711,029$839,623
68$844,148$715,679$680,516$846,854
69$874,206$694,702$647,268$853,628
70$905,565$670,932$611,142$859,910
71$938,302$644,177$571,984$865,669
72$972,499$614,232$529,636$870,870
73$1,008,247$580,882$483,931$875,480
74$1,045,642$543,900$434,697$879,463
75$1,084,790$503,044$381,752$882,787
76$1,125,805$458,059$324,907$885,415
77$1,168,810$408,677$263,965$887,315
78$1,213,939$354,612$198,718$888,453
79$1,261,338$295,565$128,951$888,798
80$1,311,163$231,217$54,440$888,317
81$1,363,588$161,232$0$886,983
82$1,418,798$85,257$0$889,584
83$1,476,998$2,917$0$902,752
84$1,538,409$0$0$916,048
85$1,603,273$0$0$954,166
86$1,671,853$0$0$995,378
87$1,744,438$0$0$1,039,026
88$1,821,340$0$0$1,085,303
89$1,902,905$0$0$1,134,420
90$1,989,506$0$0$1,186,606
91$2,081,554$0$0$1,242,115
92$2,179,499$0$0$1,301,221
93$2,283,831$0$0$1,364,227
94$2,395,089$0$0$1,431,463
95$2,513,861$0$0$1,503,293
96$2,640,795$0$0$1,580,112
97$2,776,597$0$0$1,662,356
98$2,922,044$0$0$1,750,504
99$3,077,986$0$0$1,845,077
100$3,245,359$0$0$1,946,653