Can I retire at age 60 with 673,000?

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 $673,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$55,576$55,081$54,598$54,126$53,666$53,083
2 years$27,513$27,000$26,504$26,022$25,555$24,969
3 years$18,160$17,645$17,150$16,673$16,213$15,641
4 years$13,484$12,971$12,481$12,012$11,563$11,010
5 years$10,679$10,169$9,685$9,226$8,790$8,257
6 years$8,810$8,304$7,827$7,378$6,956$6,443
7 years$7,476$6,974$6,504$6,066$5,657$5,165
8 years$6,475$5,978$5,516$5,089$4,693$4,222
9 years$5,697$5,205$4,751$4,334$3,952$3,502
10 years$5,076$4,588$4,142$3,736$3,367$2,938
11 years$4,567$4,084$3,647$3,252$2,896$2,487
12 years$4,144$3,666$3,236$2,852$2,510$2,121
13 years$3,786$3,313$2,891$2,518$2,188$1,819
14 years$3,479$3,011$2,598$2,235$1,918$1,568
15 years$3,214$2,751$2,346$1,993$1,689$1,357
16 years$2,982$2,524$2,127$1,785$1,493$1,178
17 years$2,777$2,324$1,935$1,604$1,324$1,026
18 years$2,596$2,148$1,767$1,445$1,177$896
19 years$2,433$1,991$1,617$1,306$1,049$784
20 years$2,287$1,850$1,484$1,183$937$687
21 years$2,155$1,723$1,365$1,073$838$603
22 years$2,036$1,608$1,258$976$752$530
23 years$1,927$1,504$1,162$889$675$467
24 years$1,827$1,409$1,074$811$606$411
25 years$1,735$1,323$995$740$546$363
26 years$1,651$1,243$923$677$492$320
27 years$1,572$1,170$857$620$443$283
28 years$1,500$1,102$797$568$400$250
29 years$1,433$1,040$741$521$361$221
30 years$1,370$982$691$478$326$196
31 years$1,311$928$644$439$295$173
32 years$1,257$878$601$403$267$153
33 years$1,205$832$561$371$241$136
34 years$1,157$788$524$341$219$120
35 years$1,112$748$490$314$198$107
36 years$1,069$710$458$289$179$95
37 years$1,029$674$429$267$163$84
38 years$990$641$402$246$147$74
39 years$954$609$376$227$134$66
40 years$920$580$353$209$121$59
41 years$888$552$331$193$110$52
42 years$857$525$310$178$100$46
43 years$828$501$291$164$91$41
44 years$800$477$273$152$82$36
45 years$773$455$257$140$75$32
46 years$748$434$241$129$68$29
47 years$723$414$226$120$62$25
48 years$700$396$213$110$56$23
49 years$678$378$200$102$51$20
50 years$657$361$188$94$46$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $673,000, adding $3,296 every year, while hoping to spend $30,687 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: 30/45/25 Blend
59$673,000$673,000$673,000$673,000
60$745,046$709,377$698,945$761,556
61$788,390$711,486$689,709$776,695
62$835,126$712,669$679,135$790,035
63$885,569$712,850$667,146$803,764
64$940,063$711,945$653,661$817,935
65$998,986$709,867$638,596$832,610
66$1,062,755$706,523$621,861$847,861
67$1,131,827$701,814$603,365$863,768
68$1,206,706$695,635$583,010$880,423
69$1,287,945$687,876$560,696$897,930
70$1,376,152$678,419$536,315$916,408
71$1,471,996$667,138$509,759$935,991
72$1,576,214$653,902$480,910$956,829
73$1,689,616$638,571$449,649$979,094
74$1,813,092$620,997$415,847$1,002,976
75$1,947,624$601,022$379,375$1,028,694
76$2,094,290$578,481$340,092$1,056,488
77$2,254,279$553,197$297,856$1,086,633
78$2,428,897$524,986$252,516$1,119,432
79$2,619,583$493,649$203,914$1,155,230
80$2,827,923$458,979$151,887$1,194,408
81$3,055,658$420,757$96,263$1,237,396
82$3,304,710$378,749$36,863$1,284,672
83$3,577,193$332,710$0$1,336,771
84$3,875,435$282,381$0$1,401,367
85$4,201,998$227,486$0$1,483,001
86$4,559,705$167,737$0$1,572,627
87$4,951,666$102,826$0$1,671,128
88$5,381,302$32,432$0$1,779,481
89$5,852,386$0$0$1,898,773
90$6,369,069$0$0$2,051,888
91$6,935,926$0$0$2,237,598
92$7,557,994$0$0$2,441,508
93$8,240,823$0$0$2,665,451
94$8,990,526$0$0$2,911,445
95$9,813,836$0$0$3,181,716
96$10,718,172$0$0$3,478,713
97$11,711,705$0$0$3,805,137
98$12,803,437$0$0$4,163,961
99$14,003,286$0$0$4,558,462
100$15,322,176$0$0$4,992,250