Can I retire at age 60 with 671,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%11.4%
1 years$55,411$54,917$54,435$53,965$53,506$53,192
2 years$27,431$26,920$26,425$25,945$25,479$25,162
3 years$18,106$17,593$17,099$16,623$16,165$15,854
4 years$13,444$12,932$12,443$11,976$11,529$11,228
5 years$10,648$10,139$9,657$9,199$8,764$8,473
6 years$8,784$8,279$7,804$7,356$6,935$6,655
7 years$7,453$6,953$6,485$6,048$5,640$5,371
8 years$6,456$5,960$5,500$5,074$4,679$4,420
9 years$5,680$5,189$4,737$4,322$3,940$3,692
10 years$5,060$4,574$4,130$3,725$3,357$3,120
11 years$4,554$4,072$3,636$3,242$2,887$2,661
12 years$4,131$3,655$3,227$2,844$2,502$2,286
13 years$3,774$3,303$2,883$2,511$2,182$1,976
14 years$3,469$3,002$2,590$2,229$1,913$1,716
15 years$3,204$2,743$2,339$1,988$1,684$1,497
16 years$2,973$2,516$2,120$1,780$1,488$1,311
17 years$2,769$2,317$1,929$1,599$1,320$1,151
18 years$2,588$2,141$1,761$1,441$1,173$1,014
19 years$2,426$1,985$1,612$1,302$1,046$895
20 years$2,281$1,844$1,480$1,179$934$791
21 years$2,149$1,718$1,361$1,070$836$701
22 years$2,030$1,604$1,254$973$749$622
23 years$1,921$1,500$1,158$886$673$552
24 years$1,821$1,405$1,071$808$605$491
25 years$1,730$1,319$992$738$544$437
26 years$1,646$1,239$920$675$490$390
27 years$1,568$1,166$854$618$442$348
28 years$1,496$1,099$794$566$399$310
29 years$1,428$1,037$739$519$360$277
30 years$1,366$979$689$476$325$247
31 years$1,307$926$642$438$294$221
32 years$1,253$876$599$402$266$198
33 years$1,202$829$559$370$241$177
34 years$1,154$786$522$340$218$158
35 years$1,108$746$488$313$197$142
36 years$1,066$708$457$288$179$127
37 years$1,025$672$428$266$162$114
38 years$987$639$401$245$147$102
39 years$951$607$375$226$133$91
40 years$917$578$352$208$121$82
41 years$885$550$330$192$110$73
42 years$854$524$309$177$100$66
43 years$825$499$290$164$90$59
44 years$797$476$273$151$82$53
45 years$771$454$256$140$74$47
46 years$745$433$240$129$68$43
47 years$721$413$226$119$61$38
48 years$698$394$212$110$56$34
49 years$676$377$199$102$51$31
50 years$655$360$187$94$46$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $671,000, adding $6,624 every year, while hoping to spend $54,294 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: 77/6/17 Blend
59$671,000$671,000$671,000$671,000
60$746,275$710,712$700,311$800,422
61$764,626$687,768$666,003$814,153
62$783,030$661,881$628,726$821,750
63$801,434$632,848$588,323$828,604
64$819,779$600,456$544,631$834,624
65$837,998$564,480$497,478$839,709
66$856,015$524,681$446,685$843,748
67$873,746$480,807$392,065$846,620
68$891,092$432,591$333,424$848,193
69$907,947$379,752$270,558$848,321
70$924,190$321,991$203,253$846,846
71$939,683$258,995$131,288$843,594
72$954,276$190,430$54,431$838,373
73$967,797$115,947$0$830,976
74$980,057$35,173$0$826,178
75$990,844$0$0$829,586
76$999,923$0$0$834,542
77$1,007,030$0$0$840,134
78$1,011,873$0$0$843,791
79$1,014,127$0$0$845,237
80$1,013,431$0$0$844,164
81$1,009,384$0$0$840,233
82$1,001,540$0$0$833,064
83$989,405$0$0$822,239
84$972,433$0$0$807,293
85$950,016$0$0$787,708
86$921,482$0$0$762,916
87$886,086$0$0$732,283
88$843,005$0$0$695,109
89$791,324$0$0$650,619
90$730,036$0$0$597,957
91$658,024$0$0$536,174
92$574,052$0$0$464,222
93$476,756$0$0$380,941
94$364,626$0$0$285,051
95$235,995$0$0$175,135
96$89,020$0$0$49,630
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0