Can I retire at age 80 with 698,000?

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 $698,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$57,640$57,127$56,626$56,137$55,660$54,850
2 years$28,535$28,003$27,488$26,989$26,505$25,691
3 years$18,834$18,300$17,787$17,292$16,816$16,023
4 years$13,985$13,453$12,944$12,458$11,993$11,227
5 years$11,076$10,547$10,045$9,569$9,117$8,381
6 years$9,137$8,613$8,118$7,652$7,214$6,508
7 years$7,753$7,233$6,746$6,291$5,867$5,191
8 years$6,716$6,200$5,721$5,278$4,867$4,222
9 years$5,909$5,398$4,928$4,495$4,099$3,483
10 years$5,264$4,758$4,296$3,875$3,492$2,906
11 years$4,737$4,236$3,782$3,373$3,004$2,446
12 years$4,298$3,802$3,357$2,958$2,603$2,074
13 years$3,926$3,436$2,999$2,612$2,270$1,768
14 years$3,608$3,123$2,695$2,318$1,990$1,515
15 years$3,333$2,853$2,433$2,067$1,752$1,303
16 years$3,092$2,618$2,206$1,851$1,548$1,125
17 years$2,880$2,411$2,007$1,663$1,373$973
18 years$2,692$2,228$1,832$1,499$1,221$844
19 years$2,524$2,064$1,677$1,354$1,088$734
20 years$2,372$1,918$1,539$1,227$972$639
21 years$2,236$1,787$1,416$1,113$870$557
22 years$2,111$1,668$1,305$1,012$780$487
23 years$1,998$1,560$1,205$922$700$425
24 years$1,895$1,462$1,114$841$629$372
25 years$1,800$1,372$1,032$768$566$326
26 years$1,712$1,289$957$702$510$286
27 years$1,631$1,213$889$643$460$251
28 years$1,556$1,143$826$589$415$220
29 years$1,486$1,079$769$540$374$193
30 years$1,421$1,019$716$496$338$170
31 years$1,360$963$668$455$306$149
32 years$1,303$911$623$418$277$131
33 years$1,250$863$582$385$250$115
34 years$1,200$818$544$354$227$101
35 years$1,153$776$508$326$205$89
36 years$1,109$736$475$300$186$78
37 years$1,067$699$445$276$169$69
38 years$1,027$664$417$255$153$61
39 years$990$632$390$235$139$53
40 years$954$601$366$217$126$47
41 years$921$572$343$200$114$41
42 years$889$545$322$185$104$36
43 years$858$519$302$170$94$32
44 years$829$495$283$157$85$28
45 years$802$472$266$145$77$25
46 years$775$450$250$134$70$22
47 years$750$430$235$124$64$19
48 years$726$410$221$115$58$17
49 years$703$392$207$106$53$15
50 years$681$374$195$98$48$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 80 starting with $698,000, adding $2,936 every year, while hoping to spend $35,976 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: 45/45/10 Blend
79$698,000$698,000$698,000$698,000
80$772,224$735,230$724,411$804,664
81$812,713$732,979$710,401$825,176
82$856,126$729,411$694,716$843,485
83$902,723$724,424$677,261$862,524
84$952,790$717,910$657,938$882,372
85$1,006,641$709,754$636,645$903,120
86$1,064,619$699,833$613,274$924,870
87$1,127,104$688,018$587,712$947,737
88$1,194,509$674,171$559,841$971,850
89$1,267,291$658,148$529,538$997,354
90$1,345,952$639,795$496,675$1,024,412
91$1,431,042$618,948$461,117$1,053,206
92$1,523,168$595,435$422,723$1,083,941
93$1,622,994$569,074$381,347$1,116,846
94$1,731,253$539,673$336,836$1,152,177
95$1,848,750$507,026$289,029$1,190,221
96$1,976,370$470,918$237,759$1,231,297
97$2,115,088$431,121$182,852$1,275,763
98$2,265,974$387,393$124,125$1,324,017
99$2,430,208$339,479$61,387$1,376,505
100$2,609,086$287,111$0$1,433,722