Can I retire at age 60 with 691,000?

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 $691,000?

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$57,062$56,554$56,058$55,574$55,101$54,685
2 years$28,249$27,722$27,213$26,718$26,239$25,819
3 years$18,645$18,117$17,608$17,119$16,647$16,237
4 years$13,845$13,318$12,814$12,333$11,873$11,476
5 years$10,965$10,441$9,944$9,473$9,025$8,642
6 years$9,046$8,526$8,037$7,576$7,142$6,773
7 years$7,676$7,160$6,678$6,228$5,808$5,454
8 years$6,648$6,138$5,664$5,225$4,818$4,479
9 years$5,850$5,344$4,878$4,450$4,058$3,733
10 years$5,211$4,710$4,253$3,836$3,457$3,146
11 years$4,689$4,193$3,744$3,339$2,973$2,677
12 years$4,255$3,764$3,323$2,928$2,577$2,294
13 years$3,887$3,401$2,969$2,585$2,247$1,977
14 years$3,572$3,092$2,668$2,295$1,970$1,713
15 years$3,300$2,824$2,408$2,047$1,734$1,491
16 years$3,061$2,591$2,184$1,833$1,533$1,302
17 years$2,851$2,386$1,987$1,647$1,359$1,140
18 years$2,665$2,205$1,814$1,484$1,208$1,001
19 years$2,498$2,044$1,660$1,341$1,077$881
20 years$2,348$1,899$1,524$1,214$962$777
21 years$2,213$1,769$1,402$1,102$861$686
22 years$2,090$1,651$1,292$1,002$772$607
23 years$1,978$1,544$1,193$913$693$537
24 years$1,876$1,447$1,103$832$623$477
25 years$1,782$1,358$1,022$760$560$423
26 years$1,695$1,276$948$695$505$376
27 years$1,614$1,201$880$636$455$334
28 years$1,540$1,132$818$583$411$297
29 years$1,471$1,068$761$535$371$264
30 years$1,407$1,008$709$491$335$236
31 years$1,346$953$661$451$303$210
32 years$1,290$902$617$414$274$187
33 years$1,237$854$576$381$248$167
34 years$1,188$810$538$350$224$149
35 years$1,141$768$503$323$203$133
36 years$1,097$729$471$297$184$119
37 years$1,056$692$440$274$167$106
38 years$1,017$658$412$252$151$94
39 years$980$626$386$233$137$84
40 years$945$595$362$215$124$75
41 years$911$567$340$198$113$67
42 years$880$540$319$183$102$60
43 years$850$514$299$169$93$54
44 years$821$490$281$156$84$48
45 years$794$467$264$144$77$43
46 years$768$446$247$133$70$38
47 years$743$425$233$123$63$34
48 years$719$406$218$113$57$31
49 years$696$388$205$105$52$27
50 years$675$370$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 $691,000, adding $6,498 every year, while hoping to spend $47,530 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: 45/39/16 Blend
59$691,000$691,000$691,000$691,000
60$768,185$731,562$720,851$798,960
61$795,968$716,837$694,428$806,375
62$824,992$699,797$665,527$809,130
63$855,334$680,279$634,014$811,096
64$887,075$658,110$599,751$812,221
65$920,306$633,107$562,592$812,449
66$955,122$605,075$522,384$811,724
67$991,630$573,809$478,969$809,989
68$1,029,943$539,092$432,181$807,184
69$1,070,184$500,695$381,847$803,247
70$1,112,489$458,374$327,784$798,116
71$1,157,003$411,874$269,805$791,727
72$1,203,884$360,924$207,711$784,017
73$1,253,308$305,236$141,296$774,918
74$1,305,461$244,508$70,345$764,367
75$1,360,549$178,421$0$752,296
76$1,418,797$106,636$0$739,558
77$1,480,451$28,797$0$738,046
78$1,545,776$0$0$735,717
79$1,615,065$0$0$756,359
80$1,688,638$0$0$791,440
81$1,766,844$0$0$828,775
82$1,850,065$0$0$868,551
83$1,938,718$0$0$910,974
84$2,033,263$0$0$956,270
85$2,134,201$0$0$1,004,686
86$2,242,080$0$0$1,056,493
87$2,357,505$0$0$1,111,988
88$2,481,135$0$0$1,171,498
89$2,613,694$0$0$1,235,379
90$2,755,979$0$0$1,304,024
91$2,908,861$0$0$1,377,864
92$3,073,297$0$0$1,457,372
93$3,250,340$0$0$1,543,067
94$3,441,143$0$0$1,635,520
95$3,646,975$0$0$1,735,358
96$3,869,229$0$0$1,843,268
97$4,109,437$0$0$1,960,010
98$4,369,281$0$0$2,086,413
99$4,650,609$0$0$2,223,395
100$4,955,457$0$0$2,371,959