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%15.8%
1 years$56,897$56,390$55,896$55,413$54,942$53,635
2 years$28,167$27,642$27,134$26,641$26,163$24,854
3 years$18,591$18,065$17,557$17,069$16,599$15,329
4 years$13,805$13,279$12,777$12,297$11,838$10,617
5 years$10,933$10,411$9,916$9,446$8,999$7,830
6 years$9,020$8,501$8,013$7,554$7,121$6,005
7 years$7,653$7,140$6,659$6,210$5,791$4,728
8 years$6,629$6,120$5,647$5,210$4,804$3,794
9 years$5,833$5,328$4,864$4,437$4,046$3,088
10 years$5,196$4,697$4,241$3,825$3,447$2,540
11 years$4,676$4,181$3,733$3,329$2,965$2,108
12 years$4,242$3,753$3,313$2,920$2,569$1,760
13 years$3,876$3,392$2,960$2,578$2,240$1,478
14 years$3,562$3,083$2,660$2,288$1,964$1,247
15 years$3,290$2,816$2,401$2,041$1,729$1,056
16 years$3,053$2,584$2,177$1,827$1,528$896
17 years$2,843$2,380$1,981$1,642$1,355$763
18 years$2,657$2,199$1,809$1,480$1,205$651
19 years$2,491$2,038$1,656$1,337$1,074$556
20 years$2,342$1,894$1,519$1,211$959$476
21 years$2,207$1,764$1,398$1,099$858$408
22 years$2,084$1,647$1,288$999$769$350
23 years$1,973$1,540$1,189$910$691$301
24 years$1,870$1,443$1,100$830$621$258
25 years$1,776$1,354$1,019$758$559$222
26 years$1,690$1,273$945$693$503$191
27 years$1,610$1,198$877$634$454$165
28 years$1,536$1,129$816$581$409$142
29 years$1,467$1,065$759$533$370$122
30 years$1,403$1,005$707$489$334$105
31 years$1,343$950$659$449$302$91
32 years$1,286$899$615$413$273$78
33 years$1,234$852$574$380$247$67
34 years$1,185$807$537$349$224$58
35 years$1,138$766$502$322$203$50
36 years$1,094$727$469$296$184$43
37 years$1,053$690$439$273$166$37
38 years$1,014$656$411$252$151$32
39 years$977$624$385$232$137$28
40 years$942$593$361$214$124$24
41 years$909$565$339$197$113$21
42 years$877$538$318$182$102$18
43 years$847$513$298$168$93$15
44 years$819$489$280$155$84$13
45 years$791$466$263$143$76$12
46 years$765$444$247$132$69$10
47 years$741$424$232$122$63$9
48 years$717$405$218$113$57$7
49 years$694$387$205$104$52$6
50 years$673$369$193$97$47$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $689,000, adding $2,140 every year, while hoping to spend $36,327 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: 75/8/17 Blend
59$689,000$689,000$689,000$689,000
60$761,485$724,968$714,289$815,514
61$800,505$721,840$699,566$848,433
62$842,288$717,341$683,132$879,806
63$887,076$711,366$664,892$913,226
64$935,137$703,802$644,745$948,886
65$986,764$694,532$622,588$987,000
66$1,042,279$683,429$598,309$1,027,804
67$1,102,035$670,360$571,796$1,071,559
68$1,166,419$655,184$542,928$1,118,554
69$1,235,858$637,752$511,580$1,169,104
70$1,310,819$617,906$477,621$1,223,562
71$1,391,816$595,477$440,915$1,282,314
72$1,479,415$570,289$401,320$1,345,787
73$1,574,237$542,154$358,685$1,414,453
74$1,676,964$510,875$312,856$1,488,832
75$1,788,347$476,240$263,669$1,569,498
76$1,909,211$438,029$210,955$1,657,086
77$2,040,465$396,007$154,536$1,752,295
78$2,183,107$349,926$94,228$1,855,898
79$2,338,236$299,524$29,836$1,968,747
80$2,507,060$244,524$0$2,091,781
81$2,690,909$184,635$0$2,233,092
82$2,891,247$119,548$0$2,393,007
83$3,109,684$48,935$0$2,567,410
84$3,347,993$0$0$2,757,738
85$3,608,125$0$0$2,967,998
86$3,892,227$0$0$3,202,364
87$4,202,664$0$0$3,458,482
88$4,542,038$0$0$3,738,502
89$4,913,216$0$0$4,044,792
90$5,319,353$0$0$4,379,961
91$5,763,923$0$0$4,746,879
92$6,250,752$0$0$5,148,707
93$6,784,053$0$0$5,588,928
94$7,368,465$0$0$6,071,375
95$8,009,100$0$0$6,600,272
96$8,711,585$0$0$7,180,269
97$9,482,118$0$0$7,816,489
98$10,327,527$0$0$8,514,575
99$11,255,332$0$0$9,280,740
100$12,273,817$0$0$10,121,831