Can I retire at age 60 with 677,000?

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 $677,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$55,906$55,408$54,922$54,448$53,985$52,383
2 years$27,676$27,161$26,661$26,177$25,707$24,106
3 years$18,268$17,750$17,252$16,772$16,310$14,760
4 years$13,564$13,048$12,555$12,083$11,632$10,146
5 years$10,743$10,230$9,743$9,281$8,843$7,424
6 years$8,863$8,353$7,874$7,422$6,997$5,647
7 years$7,520$7,015$6,543$6,102$5,690$4,409
8 years$6,514$6,013$5,549$5,119$4,721$3,507
9 years$5,731$5,236$4,779$4,360$3,975$2,828
10 years$5,106$4,615$4,167$3,759$3,387$2,305
11 years$4,594$4,108$3,668$3,271$2,913$1,894
12 years$4,168$3,688$3,256$2,869$2,525$1,566
13 years$3,808$3,332$2,909$2,533$2,201$1,302
14 years$3,500$3,029$2,613$2,249$1,930$1,087
15 years$3,233$2,767$2,360$2,005$1,699$911
16 years$2,999$2,539$2,139$1,796$1,502$765
17 years$2,794$2,338$1,947$1,613$1,331$644
18 years$2,611$2,161$1,777$1,454$1,184$543
19 years$2,448$2,002$1,627$1,314$1,055$459
20 years$2,301$1,861$1,493$1,190$943$389
21 years$2,168$1,733$1,373$1,080$843$329
22 years$2,048$1,618$1,266$982$756$279
23 years$1,938$1,513$1,169$894$679$237
24 years$1,838$1,418$1,081$816$610$201
25 years$1,745$1,330$1,001$745$549$171
26 years$1,660$1,250$928$681$494$145
27 years$1,582$1,177$862$623$446$124
28 years$1,509$1,109$801$571$402$105
29 years$1,441$1,046$746$524$363$90
30 years$1,378$988$695$481$328$76
31 years$1,319$934$648$441$297$65
32 years$1,264$884$604$406$268$55
33 years$1,212$837$564$373$243$47
34 years$1,164$793$527$343$220$40
35 years$1,118$752$493$316$199$34
36 years$1,075$714$461$291$180$29
37 years$1,035$678$432$268$164$25
38 years$996$645$404$247$148$21
39 years$960$613$379$228$134$18
40 years$926$583$355$210$122$15
41 years$893$555$333$194$111$13
42 years$862$529$312$179$100$11
43 years$832$504$293$165$91$10
44 years$804$480$275$153$83$8
45 years$778$458$258$141$75$7
46 years$752$437$242$130$68$6
47 years$728$417$228$120$62$5
48 years$705$398$214$111$56$4
49 years$682$380$201$103$51$4
50 years$661$363$189$95$46$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $677,000, adding $3,374 every year, while hoping to spend $40,860 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: 69/17/14 Blend
59$677,000$677,000$677,000$677,000
60$749,534$713,653$703,160$798,647
61$782,512$705,148$683,241$823,239
62$817,484$694,856$661,285$844,934
63$854,611$682,647$637,182$867,617
64$894,067$668,383$610,813$891,381
65$936,045$651,917$582,059$916,329
66$980,755$633,093$550,791$942,574
67$1,028,425$611,748$516,876$970,241
68$1,079,309$587,708$480,175$999,472
69$1,133,681$560,789$440,544$1,030,423
70$1,191,844$530,795$397,829$1,063,266
71$1,254,129$497,521$351,874$1,098,194
72$1,320,900$460,749$302,511$1,135,422
73$1,392,555$420,249$249,569$1,175,185
74$1,469,532$375,778$192,866$1,217,748
75$1,552,312$327,078$132,214$1,263,402
76$1,641,421$273,878$67,416$1,312,472
77$1,737,438$215,891$0$1,365,317
78$1,841,000$152,812$0$1,422,596
79$1,952,804$84,323$0$1,495,254
80$2,073,620$10,084$0$1,573,734
81$2,204,290$0$0$1,658,614
82$2,345,742$0$0$1,763,675
83$2,498,996$0$0$1,879,576
84$2,665,172$0$0$2,005,284
85$2,845,503$0$0$2,141,734
86$3,041,345$0$0$2,289,958
87$3,254,190$0$0$2,451,088
88$3,485,677$0$0$2,626,372
89$3,737,613$0$0$2,817,180
90$4,011,982$0$0$3,025,023
91$4,310,971$0$0$3,251,562
92$4,636,984$0$0$3,498,623
93$4,992,668$0$0$3,768,221
94$5,380,938$0$0$4,062,568
95$5,805,001$0$0$4,384,104
96$6,268,387$0$0$4,735,511
97$6,774,983$0$0$5,119,745
98$7,329,070$0$0$5,540,060
99$7,935,360$0$0$6,000,036
100$8,599,040$0$0$6,503,619