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%18.9%
1 years$55,906$55,408$54,922$54,448$53,985$52,049
2 years$27,676$27,161$26,661$26,177$25,707$23,777
3 years$18,268$17,750$17,252$16,772$16,310$14,447
4 years$13,564$13,048$12,555$12,083$11,632$9,851
5 years$10,743$10,230$9,743$9,281$8,843$7,147
6 years$8,863$8,353$7,874$7,422$6,997$5,389
7 years$7,520$7,015$6,543$6,102$5,690$4,169
8 years$6,514$6,013$5,549$5,119$4,721$3,285
9 years$5,731$5,236$4,779$4,360$3,975$2,624
10 years$5,106$4,615$4,167$3,759$3,387$2,117
11 years$4,594$4,108$3,668$3,271$2,913$1,722
12 years$4,168$3,688$3,256$2,869$2,525$1,409
13 years$3,808$3,332$2,909$2,533$2,201$1,158
14 years$3,500$3,029$2,613$2,249$1,930$956
15 years$3,233$2,767$2,360$2,005$1,699$792
16 years$2,999$2,539$2,139$1,796$1,502$658
17 years$2,794$2,338$1,947$1,613$1,331$547
18 years$2,611$2,161$1,777$1,454$1,184$456
19 years$2,448$2,002$1,627$1,314$1,055$381
20 years$2,301$1,861$1,493$1,190$943$318
21 years$2,168$1,733$1,373$1,080$843$266
22 years$2,048$1,618$1,266$982$756$223
23 years$1,938$1,513$1,169$894$679$187
24 years$1,838$1,418$1,081$816$610$157
25 years$1,745$1,330$1,001$745$549$132
26 years$1,660$1,250$928$681$494$110
27 years$1,582$1,177$862$623$446$93
28 years$1,509$1,109$801$571$402$78
29 years$1,441$1,046$746$524$363$65
30 years$1,378$988$695$481$328$55
31 years$1,319$934$648$441$297$46
32 years$1,264$884$604$406$268$39
33 years$1,212$837$564$373$243$33
34 years$1,164$793$527$343$220$27
35 years$1,118$752$493$316$199$23
36 years$1,075$714$461$291$180$19
37 years$1,035$678$432$268$164$16
38 years$996$645$404$247$148$14
39 years$960$613$379$228$134$12
40 years$926$583$355$210$122$10
41 years$893$555$333$194$111$8
42 years$862$529$312$179$100$7
43 years$832$504$293$165$91$6
44 years$804$480$275$153$83$5
45 years$778$458$258$141$75$4
46 years$752$437$242$130$68$3
47 years$728$417$228$120$62$3
48 years$705$398$214$111$56$2
49 years$682$380$201$103$51$2
50 years$661$363$189$95$46$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $677,000, adding $6,101 every year, while hoping to spend $49,402 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: 29/46/25 Blend
59$677,000$677,000$677,000$677,000
60$752,347$716,466$705,973$768,184
61$776,523$699,010$677,059$763,576
62$801,510$679,042$645,522$753,878
63$827,337$656,388$611,220$742,441
64$854,036$630,862$574,007$729,148
65$881,642$602,269$533,730$713,876
66$910,189$570,400$490,230$696,495
67$939,715$535,035$443,339$676,868
68$970,257$495,944$392,883$654,849
69$1,001,858$452,880$338,679$630,288
70$1,034,560$405,584$280,537$603,022
71$1,068,409$353,781$218,259$572,884
72$1,103,453$297,182$151,636$539,695
73$1,139,742$235,481$80,453$503,268
74$1,177,330$168,354$4,483$463,406
75$1,216,275$95,461$0$419,901
76$1,256,636$16,439$0$392,966
77$1,298,477$0$0$364,544
78$1,341,866$0$0$368,239
79$1,386,876$0$0$380,714
80$1,433,583$0$0$393,672
81$1,482,070$0$0$407,136
82$1,532,423$0$0$421,133
83$1,584,737$0$0$435,691
84$1,639,110$0$0$450,839
85$1,695,652$0$0$466,609
86$1,754,474$0$0$483,036
87$1,815,702$0$0$500,157
88$1,879,466$0$0$518,011
89$1,945,909$0$0$536,642
90$2,015,183$0$0$556,096
91$2,087,453$0$0$576,423
92$2,162,897$0$0$597,677
93$2,241,705$0$0$619,916
94$2,324,085$0$0$643,203
95$2,410,260$0$0$667,608
96$2,500,472$0$0$693,204
97$2,594,983$0$0$720,072
98$2,694,077$0$0$748,300
99$2,798,063$0$0$777,982
100$2,907,274$0$0$809,223