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%12.1%
1 years$55,576$55,081$54,598$54,126$53,666$53,194
2 years$27,513$27,000$26,504$26,022$25,555$25,080
3 years$18,160$17,645$17,150$16,673$16,213$15,749
4 years$13,484$12,971$12,481$12,012$11,563$11,114
5 years$10,679$10,169$9,685$9,226$8,790$8,357
6 years$8,810$8,304$7,827$7,378$6,956$6,538
7 years$7,476$6,974$6,504$6,066$5,657$5,256
8 years$6,475$5,978$5,516$5,089$4,693$4,309
9 years$5,697$5,205$4,751$4,334$3,952$3,585
10 years$5,076$4,588$4,142$3,736$3,367$3,017
11 years$4,567$4,084$3,647$3,252$2,896$2,561
12 years$4,144$3,666$3,236$2,852$2,510$2,191
13 years$3,786$3,313$2,891$2,518$2,188$1,885
14 years$3,479$3,011$2,598$2,235$1,918$1,630
15 years$3,214$2,751$2,346$1,993$1,689$1,415
16 years$2,982$2,524$2,127$1,785$1,493$1,233
17 years$2,777$2,324$1,935$1,604$1,324$1,078
18 years$2,596$2,148$1,767$1,445$1,177$945
19 years$2,433$1,991$1,617$1,306$1,049$829
20 years$2,287$1,850$1,484$1,183$937$730
21 years$2,155$1,723$1,365$1,073$838$643
22 years$2,036$1,608$1,258$976$752$568
23 years$1,927$1,504$1,162$889$675$502
24 years$1,827$1,409$1,074$811$606$444
25 years$1,735$1,323$995$740$546$393
26 years$1,651$1,243$923$677$492$348
27 years$1,572$1,170$857$620$443$309
28 years$1,500$1,102$797$568$400$274
29 years$1,433$1,040$741$521$361$243
30 years$1,370$982$691$478$326$216
31 years$1,311$928$644$439$295$192
32 years$1,257$878$601$403$267$171
33 years$1,205$832$561$371$241$152
34 years$1,157$788$524$341$219$135
35 years$1,112$748$490$314$198$120
36 years$1,069$710$458$289$179$107
37 years$1,029$674$429$267$163$95
38 years$990$641$402$246$147$85
39 years$954$609$376$227$134$76
40 years$920$580$353$209$121$67
41 years$888$552$331$193$110$60
42 years$857$525$310$178$100$54
43 years$828$501$291$164$91$48
44 years$800$477$273$152$82$43
45 years$773$455$257$140$75$38
46 years$748$434$241$129$68$34
47 years$723$414$226$120$62$30
48 years$700$396$213$110$56$27
49 years$678$378$200$102$51$24
50 years$657$361$188$94$46$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $673,000, adding $2,917 every year, while hoping to spend $22,874 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: 62/32/6 Blend
59$673,000$673,000$673,000$673,000
60$744,655$708,986$698,554$789,844
61$796,272$719,388$697,618$830,758
62$852,387$729,534$695,884$872,459
63$913,436$739,386$693,301$917,380
64$979,895$748,905$689,816$965,833
65$1,052,292$758,049$685,372$1,018,160
66$1,131,206$766,773$679,912$1,074,737
67$1,217,273$775,030$673,374$1,135,980
68$1,311,196$782,767$665,693$1,202,348
69$1,413,747$789,932$656,802$1,274,345
70$1,525,775$796,464$646,631$1,352,529
71$1,648,217$802,304$635,106$1,437,514
72$1,782,102$807,384$622,149$1,529,976
73$1,928,566$811,635$607,680$1,630,663
74$2,088,856$814,981$591,614$1,740,397
75$2,264,349$817,345$573,862$1,860,086
76$2,456,558$818,640$554,332$1,990,730
77$2,667,152$818,779$532,928$2,133,435
78$2,897,967$817,665$509,546$2,289,415
79$3,151,027$815,197$484,083$2,460,013
80$3,428,559$811,269$456,427$2,646,709
81$3,733,017$805,766$426,462$2,851,133
82$4,067,104$798,569$394,069$3,075,086
83$4,433,798$789,548$359,119$3,320,549
84$4,836,378$778,568$321,482$3,589,711
85$5,278,456$765,486$281,020$3,884,983
86$5,764,013$750,148$237,588$4,209,024
87$6,297,431$732,395$191,036$4,564,765
88$6,883,542$712,055$141,208$4,955,441
89$7,527,664$688,947$87,940$5,384,614
90$8,235,660$662,879$31,060$5,856,216
91$9,013,987$633,650$0$6,374,579
92$9,869,760$601,045$0$6,946,378
93$10,810,816$564,837$0$7,577,229
94$11,845,792$524,786$0$8,270,960
95$12,984,202$480,640$0$9,033,989
96$14,236,529$432,130$0$9,873,386
97$15,614,323$378,972$0$10,796,950
98$17,130,311$320,869$0$11,813,274
99$18,798,515$257,504$0$12,931,832
100$20,634,384$188,542$0$14,163,070