Can I retire at age 60 with 672,000?

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 $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%14%
1 years$55,493$54,999$54,517$54,046$53,586$52,698
2 years$27,472$26,960$26,464$25,984$25,517$24,625
3 years$18,133$17,619$17,124$16,648$16,189$15,321
4 years$13,464$12,952$12,462$11,994$11,546$10,709
5 years$10,663$10,154$9,671$9,212$8,777$7,972
6 years$8,797$8,292$7,816$7,367$6,945$6,174
7 years$7,464$6,963$6,495$6,057$5,648$4,911
8 years$6,465$5,969$5,508$5,081$4,686$3,982
9 years$5,689$5,197$4,744$4,328$3,946$3,276
10 years$5,068$4,581$4,136$3,731$3,362$2,725
11 years$4,560$4,078$3,641$3,247$2,892$2,287
12 years$4,138$3,660$3,232$2,848$2,506$1,932
13 years$3,780$3,308$2,887$2,514$2,185$1,642
14 years$3,474$3,007$2,594$2,232$1,916$1,402
15 years$3,209$2,747$2,342$1,990$1,687$1,202
16 years$2,977$2,520$2,124$1,782$1,491$1,034
17 years$2,773$2,321$1,932$1,601$1,322$891
18 years$2,592$2,145$1,764$1,443$1,175$771
19 years$2,430$1,988$1,615$1,304$1,047$667
20 years$2,284$1,847$1,482$1,181$936$579
21 years$2,152$1,720$1,363$1,072$837$503
22 years$2,033$1,606$1,256$975$750$438
23 years$1,924$1,502$1,160$888$674$381
24 years$1,824$1,407$1,073$809$606$332
25 years$1,733$1,321$994$739$545$290
26 years$1,648$1,241$922$676$491$253
27 years$1,570$1,168$856$619$442$221
28 years$1,498$1,101$796$567$399$193
29 years$1,431$1,038$740$520$361$169
30 years$1,368$981$690$477$326$148
31 years$1,309$927$643$438$295$129
32 years$1,255$877$600$403$266$113
33 years$1,203$831$560$370$241$99
34 years$1,155$787$523$341$218$87
35 years$1,110$747$489$314$198$76
36 years$1,067$709$458$289$179$67
37 years$1,027$673$428$266$162$58
38 years$989$640$401$245$147$51
39 years$953$608$376$226$133$45
40 years$919$579$352$209$121$39
41 years$886$551$330$192$110$34
42 years$856$525$310$178$100$30
43 years$826$500$291$164$90$26
44 years$798$477$273$151$82$23
45 years$772$454$256$140$75$20
46 years$747$434$241$129$68$18
47 years$722$414$226$119$61$16
48 years$699$395$212$110$56$14
49 years$677$377$200$102$51$12
50 years$656$360$188$94$46$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $672,000, adding $4,254 every year, while hoping to spend $39,371 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: 36/45/19 Blend
59$672,000$672,000$672,000$672,000
60$744,932$709,316$698,900$767,316
61$779,025$702,182$680,423$776,859
62$815,275$693,379$660,007$783,162
63$853,862$682,783$637,546$789,147
64$894,981$670,265$612,929$794,808
65$938,846$655,684$586,039$800,141
66$985,691$638,896$556,754$805,147
67$1,035,773$619,744$524,947$809,830
68$1,089,375$598,064$490,485$814,197
69$1,146,804$573,682$453,229$818,262
70$1,208,400$546,414$413,035$822,044
71$1,274,534$516,066$369,749$825,568
72$1,345,615$482,431$323,213$828,870
73$1,422,090$445,293$273,263$831,990
74$1,504,450$404,419$219,725$834,981
75$1,593,237$359,569$162,419$837,909
76$1,689,043$310,483$101,155$840,849
77$1,792,520$256,892$35,739$843,894
78$1,904,384$198,507$0$847,151
79$2,025,423$135,025$0$857,657
80$2,156,502$66,127$0$876,833
81$2,298,571$0$0$897,643
82$2,452,679$0$0$924,555
83$2,619,974$0$0$989,398
84$2,801,723$0$0$1,059,926
85$2,999,318$0$0$1,136,691
86$3,214,289$0$0$1,220,299
87$3,448,323$0$0$1,311,416
88$3,703,272$0$0$1,410,777
89$3,981,177$0$0$1,519,188
90$4,284,285$0$0$1,637,540
91$4,615,065$0$0$1,766,810
92$4,976,239$0$0$1,908,077
93$5,370,802$0$0$2,062,526
94$5,802,051$0$0$2,231,463
95$6,273,614$0$0$2,416,327
96$6,789,490$0$0$2,618,700
97$7,354,078$0$0$2,840,326
98$7,972,223$0$0$3,083,125
99$8,649,262$0$0$3,349,212
100$9,391,072$0$0$3,640,916