Can I retire at age 60 with 672,000?

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 $672,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$55,493$54,999$54,517$54,046$53,586$52,895
2 years$27,472$26,960$26,464$25,984$25,517$24,822
3 years$18,133$17,619$17,124$16,648$16,189$15,511
4 years$13,464$12,952$12,462$11,994$11,546$10,891
5 years$10,663$10,154$9,671$9,212$8,777$8,146
6 years$8,797$8,292$7,816$7,367$6,945$6,339
7 years$7,464$6,963$6,495$6,057$5,648$5,068
8 years$6,465$5,969$5,508$5,081$4,686$4,131
9 years$5,689$5,197$4,744$4,328$3,946$3,417
10 years$5,068$4,581$4,136$3,731$3,362$2,858
11 years$4,560$4,078$3,641$3,247$2,892$2,412
12 years$4,138$3,660$3,232$2,848$2,506$2,050
13 years$3,780$3,308$2,887$2,514$2,185$1,752
14 years$3,474$3,007$2,594$2,232$1,916$1,505
15 years$3,209$2,747$2,342$1,990$1,687$1,298
16 years$2,977$2,520$2,124$1,782$1,491$1,123
17 years$2,773$2,321$1,932$1,601$1,322$975
18 years$2,592$2,145$1,764$1,443$1,175$848
19 years$2,430$1,988$1,615$1,304$1,047$739
20 years$2,284$1,847$1,482$1,181$936$646
21 years$2,152$1,720$1,363$1,072$837$565
22 years$2,033$1,606$1,256$975$750$495
23 years$1,924$1,502$1,160$888$674$434
24 years$1,824$1,407$1,073$809$606$381
25 years$1,733$1,321$994$739$545$335
26 years$1,648$1,241$922$676$491$294
27 years$1,570$1,168$856$619$442$259
28 years$1,498$1,101$796$567$399$228
29 years$1,431$1,038$740$520$361$201
30 years$1,368$981$690$477$326$177
31 years$1,309$927$643$438$295$156
32 years$1,255$877$600$403$266$138
33 years$1,203$831$560$370$241$121
34 years$1,155$787$523$341$218$107
35 years$1,110$747$489$314$198$94
36 years$1,067$709$458$289$179$83
37 years$1,027$673$428$266$162$74
38 years$989$640$401$245$147$65
39 years$953$608$376$226$133$57
40 years$919$579$352$209$121$51
41 years$886$551$330$192$110$45
42 years$856$525$310$178$100$40
43 years$826$500$291$164$90$35
44 years$798$477$273$151$82$31
45 years$772$454$256$140$75$27
46 years$747$434$241$129$68$24
47 years$722$414$226$119$61$21
48 years$699$395$212$110$56$19
49 years$677$377$200$102$51$17
50 years$656$360$188$94$46$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $672,000, adding $5,817 every year, while hoping to spend $41,034 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: 52/21/27 Blend
59$672,000$672,000$672,000$672,000
60$746,544$710,928$700,512$779,450
61$779,032$702,104$680,320$794,083
62$813,458$691,472$658,075$805,360
63$849,977$678,900$633,667$816,809
64$888,758$664,249$606,978$828,463
65$929,984$647,371$577,885$840,361
66$973,859$628,109$546,261$852,548
67$1,020,604$606,297$511,971$865,077
68$1,070,459$581,759$474,876$878,010
69$1,123,692$554,311$434,830$891,416
70$1,180,591$523,755$391,680$905,377
71$1,241,476$489,884$345,266$919,985
72$1,306,696$452,477$295,421$935,346
73$1,376,634$411,304$241,973$951,578
74$1,451,710$366,117$184,738$968,819
75$1,532,386$316,658$123,528$987,223
76$1,619,167$262,653$58,145$1,006,964
77$1,712,610$203,811$0$1,028,240
78$1,813,326$139,827$0$1,054,623
79$1,921,985$70,378$0$1,101,109
80$2,039,323$0$0$1,151,273
81$2,166,151$0$0$1,206,629
82$2,303,357$0$0$1,284,162
83$2,451,921$0$0$1,368,169
84$2,612,918$0$0$1,459,265
85$2,787,530$0$0$1,558,126
86$2,977,056$0$0$1,665,496
87$3,182,929$0$0$1,782,194
88$3,406,720$0$0$1,909,120
89$3,650,161$0$0$2,047,265
90$3,915,155$0$0$2,197,718
91$4,203,798$0$0$2,361,678
92$4,518,395$0$0$2,540,466
93$4,861,484$0$0$2,735,534
94$5,235,858$0$0$2,948,482
95$5,644,591$0$0$3,181,068
96$6,091,067$0$0$3,435,231
97$6,579,011$0$0$3,713,104
98$7,112,526$0$0$4,017,036
99$7,696,126$0$0$4,349,612
100$8,334,784$0$0$4,713,681