Can I retire at age 67 with 693,000?

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 $693,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$57,227$56,718$56,220$55,735$55,261$54,525
2 years$28,330$27,803$27,291$26,796$26,315$25,575
3 years$18,699$18,169$17,659$17,168$16,695$15,974
4 years$13,885$13,356$12,851$12,369$11,907$11,210
5 years$10,997$10,472$9,973$9,500$9,052$8,381
6 years$9,072$8,551$8,060$7,598$7,162$6,518
7 years$7,698$7,181$6,698$6,246$5,825$5,208
8 years$6,668$6,155$5,680$5,240$4,832$4,243
9 years$5,867$5,359$4,892$4,463$4,069$3,507
10 years$5,226$4,724$4,265$3,847$3,467$2,932
11 years$4,703$4,206$3,755$3,348$2,982$2,472
12 years$4,267$3,775$3,333$2,937$2,584$2,100
13 years$3,898$3,411$2,977$2,593$2,253$1,794
14 years$3,583$3,101$2,675$2,302$1,975$1,540
15 years$3,309$2,833$2,415$2,053$1,739$1,327
16 years$3,070$2,599$2,190$1,838$1,537$1,148
17 years$2,860$2,393$1,993$1,651$1,363$996
18 years$2,673$2,212$1,819$1,488$1,212$865
19 years$2,506$2,050$1,665$1,345$1,080$754
20 years$2,355$1,905$1,528$1,218$965$658
21 years$2,220$1,774$1,406$1,105$863$575
22 years$2,096$1,656$1,296$1,005$774$503
23 years$1,984$1,549$1,196$915$695$441
24 years$1,881$1,451$1,106$835$624$387
25 years$1,787$1,362$1,025$762$562$340
26 years$1,700$1,280$950$697$506$298
27 years$1,619$1,205$882$638$456$262
28 years$1,545$1,135$820$585$412$231
29 years$1,475$1,071$763$536$372$203
30 years$1,411$1,011$711$492$336$179
31 years$1,350$956$663$452$304$158
32 years$1,294$905$619$415$275$139
33 years$1,241$857$578$382$249$122
34 years$1,191$812$540$351$225$108
35 years$1,145$770$505$323$204$95
36 years$1,101$731$472$298$185$84
37 years$1,059$694$442$274$167$74
38 years$1,020$660$414$253$152$65
39 years$983$627$388$233$138$58
40 years$947$597$363$215$125$51
41 years$914$568$341$198$113$45
42 years$882$541$320$183$103$40
43 years$852$516$300$169$93$35
44 years$823$491$281$156$85$31
45 years$796$469$264$144$77$27
46 years$770$447$248$133$70$24
47 years$745$427$233$123$63$21
48 years$721$407$219$114$58$19
49 years$698$389$206$105$52$17
50 years$677$372$194$97$47$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $693,000, adding $5,716 every year, while hoping to spend $47,745 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: 35/47/18 Blend
66$693,000$693,000$693,000$693,000
67$769,582$732,853$722,112$792,099
68$797,279$717,963$695,502$794,162
69$826,201$700,742$666,401$791,517
70$856,422$681,027$634,674$787,658
71$888,024$658,644$600,182$782,504
72$921,092$633,408$562,778$775,972
73$955,722$605,123$522,310$767,973
74$992,016$573,584$478,617$758,414
75$1,030,083$538,572$431,533$747,201
76$1,070,046$499,856$380,883$734,233
77$1,112,034$457,192$326,486$719,406
78$1,156,189$410,322$268,151$702,614
79$1,202,666$358,974$205,680$683,743
80$1,251,633$302,859$138,865$662,680
81$1,303,273$241,672$67,490$639,303
82$1,357,786$175,092$0$613,489
83$1,415,388$102,780$0$586,779
84$1,476,317$24,376$0$571,315
85$1,540,833$0$0$554,035
86$1,609,219$0$0$566,139
87$1,681,783$0$0$592,409
88$1,758,865$0$0$620,367
89$1,840,833$0$0$650,154
90$1,928,092$0$0$681,925
91$2,021,086$0$0$715,848
92$2,120,300$0$0$752,108
93$2,226,265$0$0$790,910
94$2,339,564$0$0$832,475
95$2,460,835$0$0$877,047
96$2,590,779$0$0$924,896
97$2,730,164$0$0$976,314
98$2,879,833$0$0$1,031,625
99$3,040,710$0$0$1,091,183
100$3,213,812$0$0$1,155,377