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%11.7%
1 years$56,897$56,390$55,896$55,413$54,942$54,550
2 years$28,167$27,642$27,134$26,641$26,163$25,768
3 years$18,591$18,065$17,557$17,069$16,599$16,212
4 years$13,805$13,279$12,777$12,297$11,838$11,464
5 years$10,933$10,411$9,916$9,446$8,999$8,638
6 years$9,020$8,501$8,013$7,554$7,121$6,773
7 years$7,653$7,140$6,659$6,210$5,791$5,457
8 years$6,629$6,120$5,647$5,210$4,804$4,484
9 years$5,833$5,328$4,864$4,437$4,046$3,739
10 years$5,196$4,697$4,241$3,825$3,447$3,154
11 years$4,676$4,181$3,733$3,329$2,965$2,685
12 years$4,242$3,753$3,313$2,920$2,569$2,302
13 years$3,876$3,392$2,960$2,578$2,240$1,986
14 years$3,562$3,083$2,660$2,288$1,964$1,722
15 years$3,290$2,816$2,401$2,041$1,729$1,499
16 years$3,053$2,584$2,177$1,827$1,528$1,310
17 years$2,843$2,380$1,981$1,642$1,355$1,148
18 years$2,657$2,199$1,809$1,480$1,205$1,009
19 years$2,491$2,038$1,656$1,337$1,074$888
20 years$2,342$1,894$1,519$1,211$959$784
21 years$2,207$1,764$1,398$1,099$858$693
22 years$2,084$1,647$1,288$999$769$613
23 years$1,973$1,540$1,189$910$691$544
24 years$1,870$1,443$1,100$830$621$482
25 years$1,776$1,354$1,019$758$559$428
26 years$1,690$1,273$945$693$503$381
27 years$1,610$1,198$877$634$454$339
28 years$1,536$1,129$816$581$409$302
29 years$1,467$1,065$759$533$370$269
30 years$1,403$1,005$707$489$334$240
31 years$1,343$950$659$449$302$214
32 years$1,286$899$615$413$273$191
33 years$1,234$852$574$380$247$170
34 years$1,185$807$537$349$224$152
35 years$1,138$766$502$322$203$136
36 years$1,094$727$469$296$184$121
37 years$1,053$690$439$273$166$108
38 years$1,014$656$411$252$151$97
39 years$977$624$385$232$137$86
40 years$942$593$361$214$124$77
41 years$909$565$339$197$113$69
42 years$877$538$318$182$102$62
43 years$847$513$298$168$93$55
44 years$819$489$280$155$84$49
45 years$791$466$263$143$76$44
46 years$765$444$247$132$69$40
47 years$741$424$232$122$63$35
48 years$717$405$218$113$57$32
49 years$694$387$205$104$52$28
50 years$673$369$193$97$47$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $689,000, adding $5,160 every year, while hoping to spend $39,599 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: 67/12/21 Blend
59$689,000$689,000$689,000$689,000
60$764,601$728,084$717,404$811,456
61$800,457$721,627$699,304$837,045
62$838,643$713,526$679,271$859,979
63$879,356$703,660$657,197$884,117
64$922,808$691,898$632,972$909,577
65$969,237$678,103$606,478$936,489
66$1,018,899$662,129$577,595$964,999
67$1,072,076$643,823$546,194$995,268
68$1,129,079$623,022$512,143$1,027,477
69$1,190,247$599,552$475,302$1,061,823
70$1,255,954$573,231$435,525$1,098,529
71$1,326,608$543,866$392,662$1,137,839
72$1,402,659$511,253$346,553$1,180,025
73$1,484,600$475,174$297,033$1,225,388
74$1,572,974$435,402$243,928$1,274,262
75$1,668,375$391,695$187,058$1,327,018
76$1,771,459$343,798$126,234$1,384,065
77$1,882,944$291,440$61,259$1,445,858
78$2,003,620$234,337$0$1,512,900
79$2,134,357$172,187$0$1,587,558
80$2,276,110$104,672$0$1,683,406
81$2,429,929$31,457$0$1,787,436
82$2,596,969$0$0$1,900,455
83$2,778,503$0$0$2,029,668
84$2,975,926$0$0$2,174,747
85$3,190,779$0$0$2,332,672
86$3,424,753$0$0$2,504,694
87$3,679,710$0$0$2,692,185
88$3,957,700$0$0$2,896,658
89$4,260,979$0$0$3,119,779
90$4,592,030$0$0$3,363,379
91$4,953,585$0$0$3,629,477
92$5,348,654$0$0$3,920,291
93$5,780,549$0$0$4,238,268
94$6,252,916$0$0$4,586,099
95$6,769,772$0$0$4,966,748
96$7,335,537$0$0$5,383,478
97$7,955,081$0$0$5,839,884
98$8,633,764$0$0$6,339,922
99$9,377,492$0$0$6,887,952
100$10,192,768$0$0$7,488,774