Can I retire at age 66 with 712,000?

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 $712,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$58,796$58,273$57,762$57,263$56,776$55,113
2 years$29,107$28,565$28,040$27,530$27,036$25,374
3 years$19,212$18,668$18,143$17,639$17,153$15,544
4 years$14,265$13,723$13,204$12,708$12,234$10,690
5 years$11,298$10,759$10,247$9,761$9,300$7,826
6 years$9,321$8,785$8,281$7,806$7,359$5,956
7 years$7,909$7,378$6,881$6,418$5,984$4,653
8 years$6,850$6,324$5,836$5,384$4,965$3,703
9 years$6,028$5,506$5,027$4,586$4,181$2,988
10 years$5,370$4,854$4,382$3,953$3,562$2,437
11 years$4,832$4,321$3,858$3,440$3,064$2,004
12 years$4,384$3,878$3,424$3,017$2,655$1,658
13 years$4,005$3,505$3,059$2,664$2,315$1,380
14 years$3,681$3,186$2,749$2,365$2,030$1,152
15 years$3,400$2,910$2,482$2,109$1,787$966
16 years$3,154$2,670$2,250$1,888$1,579$812
17 years$2,938$2,459$2,047$1,697$1,400$684
18 years$2,746$2,272$1,869$1,529$1,245$578
19 years$2,574$2,106$1,711$1,382$1,110$489
20 years$2,420$1,957$1,570$1,251$991$414
21 years$2,280$1,823$1,444$1,136$887$351
22 years$2,154$1,701$1,331$1,033$795$298
23 years$2,038$1,591$1,229$940$714$253
24 years$1,933$1,491$1,137$858$642$215
25 years$1,836$1,399$1,053$783$577$183
26 years$1,746$1,315$976$716$520$156
27 years$1,664$1,238$907$656$469$132
28 years$1,587$1,166$843$601$423$113
29 years$1,516$1,100$784$551$382$96
30 years$1,449$1,039$731$505$345$82
31 years$1,387$982$681$464$312$70
32 years$1,329$929$636$427$282$59
33 years$1,275$880$593$392$255$51
34 years$1,224$834$554$361$231$43
35 years$1,176$791$518$332$209$37
36 years$1,131$751$485$306$190$31
37 years$1,088$713$454$282$172$27
38 years$1,048$678$425$260$156$23
39 years$1,010$645$398$240$141$19
40 years$973$613$373$221$128$17
41 years$939$584$350$204$116$14
42 years$906$556$328$188$106$12
43 years$875$530$308$174$96$10
44 years$846$505$289$160$87$9
45 years$818$481$272$148$79$8
46 years$791$459$255$137$72$6
47 years$765$438$240$126$65$5
48 years$741$418$225$117$59$5
49 years$718$400$212$108$54$4
50 years$695$382$199$100$49$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $712,000, adding $3,852 every year, while hoping to spend $40,790 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: 70/8/22 Blend
65$712,000$712,000$712,000$712,000
66$788,597$750,861$739,825$839,222
67$825,634$744,253$721,209$866,922
68$865,081$735,954$700,602$892,083
69$907,142$725,839$677,895$918,633
70$952,038$713,773$652,972$946,707
71$1,000,014$699,615$625,714$976,454
72$1,051,335$683,216$595,996$1,008,038
73$1,106,295$664,417$563,685$1,041,641
74$1,165,213$643,050$528,645$1,077,467
75$1,228,443$618,937$490,733$1,115,740
76$1,296,370$591,891$449,798$1,156,707
77$1,369,419$561,713$405,685$1,200,643
78$1,448,054$528,191$358,230$1,247,853
79$1,532,787$491,104$307,262$1,298,675
80$1,624,180$450,216$252,604$1,353,480
81$1,722,848$405,279$194,068$1,412,681
82$1,829,470$356,029$131,461$1,476,736
83$1,944,791$302,189$64,580$1,546,149
84$2,069,629$243,466$0$1,621,480
85$2,204,884$179,549$0$1,704,941
86$2,351,546$110,110$0$1,811,904
87$2,510,703$34,805$0$1,928,001
88$2,683,552$0$0$2,054,126
89$2,871,409$0$0$2,195,376
90$3,075,723$0$0$2,352,366
91$3,298,088$0$0$2,523,260
92$3,540,255$0$0$2,709,410
93$3,804,155$0$0$2,912,304
94$4,091,911$0$0$3,133,579
95$4,405,860$0$0$3,375,037
96$4,748,574$0$0$3,638,662
97$5,122,884$0$0$3,926,636
98$5,531,907$0$0$4,241,364
99$5,979,074$0$0$4,585,492
100$6,468,165$0$0$4,961,933