Can I retire at age 60 with 690,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $690,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$56,980$56,472$55,977$55,494$55,022$52,880
2 years$28,208$27,682$27,173$26,680$26,201$24,069
3 years$18,618$18,091$17,583$17,094$16,623$14,568
4 years$13,825$13,299$12,796$12,315$11,856$9,894
5 years$10,949$10,426$9,930$9,459$9,012$7,148
6 years$9,033$8,514$8,025$7,565$7,131$5,366
7 years$7,664$7,150$6,669$6,219$5,800$4,132
8 years$6,639$6,129$5,656$5,217$4,811$3,241
9 years$5,841$5,336$4,871$4,444$4,052$2,575
10 years$5,204$4,704$4,247$3,831$3,452$2,067
11 years$4,682$4,187$3,739$3,334$2,969$1,673
12 years$4,248$3,758$3,318$2,924$2,573$1,361
13 years$3,881$3,396$2,965$2,582$2,244$1,113
14 years$3,567$3,087$2,664$2,292$1,967$914
15 years$3,295$2,820$2,405$2,044$1,732$753
16 years$3,057$2,588$2,180$1,830$1,531$621
17 years$2,847$2,383$1,984$1,644$1,357$514
18 years$2,661$2,202$1,811$1,482$1,207$426
19 years$2,495$2,041$1,658$1,339$1,075$354
20 years$2,345$1,896$1,522$1,213$961$294
21 years$2,210$1,766$1,400$1,101$860$244
22 years$2,087$1,649$1,290$1,001$771$203
23 years$1,975$1,542$1,191$911$692$169
24 years$1,873$1,445$1,102$831$622$141
25 years$1,779$1,356$1,020$759$559$118
26 years$1,692$1,274$946$694$504$98
27 years$1,612$1,199$879$635$454$82
28 years$1,538$1,130$817$582$410$68
29 years$1,469$1,066$760$534$370$57
30 years$1,405$1,007$708$490$334$48
31 years$1,345$952$660$450$302$40
32 years$1,288$901$616$413$274$33
33 years$1,236$853$575$380$248$28
34 years$1,186$808$537$350$224$23
35 years$1,140$767$502$322$203$19
36 years$1,096$728$470$297$184$16
37 years$1,055$691$440$273$167$13
38 years$1,015$657$412$252$151$11
39 years$978$625$386$232$137$9
40 years$943$594$362$214$124$8
41 years$910$566$339$198$113$7
42 years$878$539$318$182$102$5
43 years$848$513$299$168$93$5
44 years$820$489$280$155$84$4
45 years$793$467$263$144$77$3
46 years$767$445$247$133$69$3
47 years$742$425$232$123$63$2
48 years$718$406$218$113$57$2
49 years$695$387$205$105$52$2
50 years$674$370$193$97$47$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $690,000, adding $6,555 every year, while hoping to spend $55,877 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: 34/46/20 Blend
59$690,000$690,000$690,000$690,000
60$767,141$730,571$719,876$788,329
61$785,937$706,917$684,540$780,885
62$804,777$680,230$646,146$767,251
63$823,607$650,304$604,535$751,388
64$842,366$616,919$559,537$733,133
65$860,982$579,843$510,976$712,311
66$879,377$538,830$458,669$688,737
67$897,461$493,621$402,422$662,210
68$915,134$443,940$342,035$632,522
69$932,283$389,499$277,299$599,444
70$948,781$329,989$207,993$562,738
71$964,485$265,088$133,890$522,146
72$979,239$194,453$54,751$477,395
73$992,862$117,722$0$428,192
74$1,005,159$34,515$0$380,564
75$1,015,906$0$0$340,720
76$1,024,859$0$0$324,796
77$1,031,743$0$0$325,510
78$1,036,253$0$0$325,276
79$1,038,051$0$0$323,966
80$1,036,759$0$0$321,435
81$1,031,959$0$0$317,526
82$1,023,187$0$0$312,061
83$1,009,928$0$0$304,847
84$991,612$0$0$295,668
85$967,606$0$0$284,283
86$937,209$0$0$270,429
87$899,644$0$0$253,812
88$854,054$0$0$234,107
89$799,487$0$0$210,956
90$734,892$0$0$183,963
91$659,104$0$0$152,688
92$570,837$0$0$116,647
93$468,669$0$0$75,303
94$351,027$0$0$28,066
95$216,174$0$0$0
96$62,191$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0