Can I retire at age 60 with 671,000?

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 $671,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$55,411$54,917$54,435$53,965$53,506$51,711
2 years$27,431$26,920$26,425$25,945$25,479$23,688
3 years$18,106$17,593$17,099$16,623$16,165$14,434
4 years$13,444$12,932$12,443$11,976$11,529$9,872
5 years$10,648$10,139$9,657$9,199$8,764$7,185
6 years$8,784$8,279$7,804$7,356$6,935$5,435
7 years$7,453$6,953$6,485$6,048$5,640$4,220
8 years$6,456$5,960$5,500$5,074$4,679$3,337
9 years$5,680$5,189$4,737$4,322$3,940$2,675
10 years$5,060$4,574$4,130$3,725$3,357$2,166
11 years$4,554$4,072$3,636$3,242$2,887$1,769
12 years$4,131$3,655$3,227$2,844$2,502$1,453
13 years$3,774$3,303$2,883$2,511$2,182$1,200
14 years$3,469$3,002$2,590$2,229$1,913$995
15 years$3,204$2,743$2,339$1,988$1,684$827
16 years$2,973$2,516$2,120$1,780$1,488$690
17 years$2,769$2,317$1,929$1,599$1,320$577
18 years$2,588$2,141$1,761$1,441$1,173$483
19 years$2,426$1,985$1,612$1,302$1,046$405
20 years$2,281$1,844$1,480$1,179$934$340
21 years$2,149$1,718$1,361$1,070$836$286
22 years$2,030$1,604$1,254$973$749$241
23 years$1,921$1,500$1,158$886$673$203
24 years$1,821$1,405$1,071$808$605$171
25 years$1,730$1,319$992$738$544$144
26 years$1,646$1,239$920$675$490$121
27 years$1,568$1,166$854$618$442$102
28 years$1,496$1,099$794$566$399$86
29 years$1,428$1,037$739$519$360$73
30 years$1,366$979$689$476$325$62
31 years$1,307$926$642$438$294$52
32 years$1,253$876$599$402$266$44
33 years$1,202$829$559$370$241$37
34 years$1,154$786$522$340$218$31
35 years$1,108$746$488$313$197$26
36 years$1,066$708$457$288$179$22
37 years$1,025$672$428$266$162$19
38 years$987$639$401$245$147$16
39 years$951$607$375$226$133$13
40 years$917$578$352$208$121$11
41 years$885$550$330$192$110$10
42 years$854$524$309$177$100$8
43 years$825$499$290$164$90$7
44 years$797$476$273$151$82$6
45 years$771$454$256$140$74$5
46 years$745$433$240$129$68$4
47 years$721$413$226$119$61$4
48 years$698$394$212$110$56$3
49 years$676$377$199$102$51$3
50 years$655$360$187$94$46$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $671,000, adding $5,552 every year, while hoping to spend $22,997 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: 69/6/25 Blend
59$671,000$671,000$671,000$671,000
60$745,169$709,606$699,205$791,463
61$796,707$719,908$698,160$833,498
62$852,732$729,944$696,309$876,314
63$913,677$739,677$693,601$922,633
64$980,017$749,067$689,982$972,800
65$1,052,278$758,070$685,396$1,027,197
66$1,131,038$766,643$679,784$1,086,244
67$1,216,930$774,735$673,084$1,150,407
68$1,310,656$782,296$665,230$1,220,197
69$1,412,984$789,269$656,157$1,296,178
70$1,524,761$795,597$645,791$1,378,972
71$1,646,921$801,215$634,059$1,469,265
72$1,780,490$806,058$620,883$1,567,815
73$1,926,599$810,053$606,182$1,675,455
74$2,086,493$813,127$589,870$1,793,105
75$2,261,542$815,197$571,857$1,921,780
76$2,453,257$816,179$552,052$2,062,598
77$2,663,299$815,982$530,356$2,216,792
78$2,893,500$814,509$506,667$2,385,722
79$3,145,875$811,658$480,878$2,570,887
80$3,422,646$807,321$452,879$2,773,940
81$3,726,257$801,381$422,552$2,996,705
82$4,059,404$793,718$389,776$3,241,189
83$4,425,054$784,200$354,424$3,509,609
84$4,826,475$772,691$316,363$3,804,408
85$5,267,267$759,046$275,453$4,128,277
86$5,751,399$743,109$231,551$4,484,187
87$6,283,238$724,717$184,504$4,875,410
88$6,867,598$703,699$134,155$5,305,555
89$7,509,782$679,869$80,339$5,778,600
90$8,215,632$653,035$22,883$6,298,931
91$8,991,585$622,992$0$6,871,381
92$9,844,730$589,522$0$7,511,533
93$10,782,880$552,396$0$8,222,191
94$11,814,642$511,372$0$9,003,773
95$12,949,499$466,193$0$9,863,473
96$14,197,899$416,587$0$10,809,218
97$15,571,354$362,268$0$11,849,743
98$17,082,546$302,934$0$12,994,674
99$18,745,453$238,265$0$14,254,615
100$20,575,471$167,922$0$15,641,254