Can I retire at age 60 with 689,000?

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 $689,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$56,897$56,390$55,896$55,413$54,942$54,527
2 years$28,167$27,642$27,134$26,641$26,163$25,745
3 years$18,591$18,065$17,557$17,069$16,599$16,190
4 years$13,805$13,279$12,777$12,297$11,838$11,442
5 years$10,933$10,411$9,916$9,446$8,999$8,617
6 years$9,020$8,501$8,013$7,554$7,121$6,753
7 years$7,653$7,140$6,659$6,210$5,791$5,438
8 years$6,629$6,120$5,647$5,210$4,804$4,466
9 years$5,833$5,328$4,864$4,437$4,046$3,722
10 years$5,196$4,697$4,241$3,825$3,447$3,137
11 years$4,676$4,181$3,733$3,329$2,965$2,669
12 years$4,242$3,753$3,313$2,920$2,569$2,287
13 years$3,876$3,392$2,960$2,578$2,240$1,972
14 years$3,562$3,083$2,660$2,288$1,964$1,708
15 years$3,290$2,816$2,401$2,041$1,729$1,486
16 years$3,053$2,584$2,177$1,827$1,528$1,298
17 years$2,843$2,380$1,981$1,642$1,355$1,137
18 years$2,657$2,199$1,809$1,480$1,205$998
19 years$2,491$2,038$1,656$1,337$1,074$878
20 years$2,342$1,894$1,519$1,211$959$774
21 years$2,207$1,764$1,398$1,099$858$684
22 years$2,084$1,647$1,288$999$769$605
23 years$1,973$1,540$1,189$910$691$536
24 years$1,870$1,443$1,100$830$621$475
25 years$1,776$1,354$1,019$758$559$422
26 years$1,690$1,273$945$693$503$375
27 years$1,610$1,198$877$634$454$333
28 years$1,536$1,129$816$581$409$296
29 years$1,467$1,065$759$533$370$264
30 years$1,403$1,005$707$489$334$235
31 years$1,343$950$659$449$302$209
32 years$1,286$899$615$413$273$187
33 years$1,234$852$574$380$247$166
34 years$1,185$807$537$349$224$148
35 years$1,138$766$502$322$203$132
36 years$1,094$727$469$296$184$118
37 years$1,053$690$439$273$166$105
38 years$1,014$656$411$252$151$94
39 years$977$624$385$232$137$84
40 years$942$593$361$214$124$75
41 years$909$565$339$197$113$67
42 years$877$538$318$182$102$60
43 years$847$513$298$168$93$54
44 years$819$489$280$155$84$48
45 years$791$466$263$143$76$43
46 years$765$444$247$132$69$38
47 years$741$424$232$122$63$34
48 years$717$405$218$113$57$31
49 years$694$387$205$104$52$27
50 years$673$369$193$97$47$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $689,000, adding $5,867 every year, while hoping to spend $40,290 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: 71/11/18 Blend
59$689,000$689,000$689,000$689,000
60$765,330$728,813$718,133$815,994
61$800,525$721,656$699,323$843,308
62$837,960$712,799$678,531$867,821
63$877,821$702,115$655,651$893,636
64$920,310$689,470$630,567$920,876
65$965,651$674,724$603,160$949,676
66$1,014,089$657,726$573,307$980,188
67$1,065,890$638,319$540,877$1,012,578
68$1,121,349$616,334$505,734$1,047,032
69$1,180,786$591,595$467,736$1,083,754
70$1,244,556$563,912$426,735$1,122,972
71$1,313,044$533,088$382,574$1,164,936
72$1,386,678$498,912$335,093$1,209,926
73$1,465,922$461,162$284,122$1,258,250
74$1,551,290$419,603$229,485$1,310,249
75$1,643,345$373,987$170,996$1,366,299
76$1,742,705$324,051$108,463$1,426,820
77$1,850,050$269,518$41,685$1,492,274
78$1,966,125$210,095$0$1,563,171
79$2,091,753$145,472$0$1,645,760
80$2,227,835$75,323$0$1,743,897
81$2,375,362$0$0$1,850,305
82$2,535,427$0$0$1,965,879
83$2,709,228$0$0$2,101,301
84$2,898,086$0$0$2,248,485
85$3,103,451$0$0$2,408,568
86$3,326,921$0$0$2,582,796
87$3,570,252$0$0$2,772,546
88$3,835,379$0$0$2,979,329
89$4,124,430$0$0$3,204,809
90$4,439,745$0$0$3,450,817
91$4,783,903$0$0$3,719,371
92$5,159,742$0$0$4,012,690
93$5,570,384$0$0$4,333,216
94$6,019,268$0$0$4,683,640
95$6,510,182$0$0$5,066,922
96$7,047,292$0$0$5,486,325
97$7,635,189$0$0$5,945,437
98$8,278,927$0$0$6,448,214
99$8,984,073$0$0$6,999,008
100$9,756,755$0$0$7,602,616