Can I retire at age 60 with 691,000?

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 $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%16.8%
1 years$57,062$56,554$56,058$55,574$55,101$53,574
2 years$28,249$27,722$27,213$26,718$26,239$24,711
3 years$18,645$18,117$17,608$17,119$16,647$15,167
4 years$13,845$13,318$12,814$12,333$11,873$10,452
5 years$10,965$10,441$9,944$9,473$9,025$7,668
6 years$9,046$8,526$8,037$7,576$7,142$5,848
7 years$7,676$7,160$6,678$6,228$5,808$4,579
8 years$6,648$6,138$5,664$5,225$4,818$3,653
9 years$5,850$5,344$4,878$4,450$4,058$2,955
10 years$5,211$4,710$4,253$3,836$3,457$2,416
11 years$4,689$4,193$3,744$3,339$2,973$1,992
12 years$4,255$3,764$3,323$2,928$2,577$1,653
13 years$3,887$3,401$2,969$2,585$2,247$1,378
14 years$3,572$3,092$2,668$2,295$1,970$1,155
15 years$3,300$2,824$2,408$2,047$1,734$971
16 years$3,061$2,591$2,184$1,833$1,533$818
17 years$2,851$2,386$1,987$1,647$1,359$692
18 years$2,665$2,205$1,814$1,484$1,208$586
19 years$2,498$2,044$1,660$1,341$1,077$497
20 years$2,348$1,899$1,524$1,214$962$422
21 years$2,213$1,769$1,402$1,102$861$359
22 years$2,090$1,651$1,292$1,002$772$306
23 years$1,978$1,544$1,193$913$693$260
24 years$1,876$1,447$1,103$832$623$222
25 years$1,782$1,358$1,022$760$560$189
26 years$1,695$1,276$948$695$505$162
27 years$1,614$1,201$880$636$455$138
28 years$1,540$1,132$818$583$411$118
29 years$1,471$1,068$761$535$371$101
30 years$1,407$1,008$709$491$335$86
31 years$1,346$953$661$451$303$74
32 years$1,290$902$617$414$274$63
33 years$1,237$854$576$381$248$54
34 years$1,188$810$538$350$224$46
35 years$1,141$768$503$323$203$39
36 years$1,097$729$471$297$184$34
37 years$1,056$692$440$274$167$29
38 years$1,017$658$412$252$151$25
39 years$980$626$386$233$137$21
40 years$945$595$362$215$124$18
41 years$911$567$340$198$113$15
42 years$880$540$319$183$102$13
43 years$850$514$299$169$93$11
44 years$821$490$281$156$84$10
45 years$794$467$264$144$77$8
46 years$768$446$247$133$70$7
47 years$743$425$233$123$63$6
48 years$719$406$218$113$57$5
49 years$696$388$205$105$52$4
50 years$675$370$193$97$47$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $691,000, adding $3,787 every year, while hoping to spend $35,552 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: 82/7/11 Blend
59$691,000$691,000$691,000$691,000
60$765,388$728,765$718,055$826,426
61$805,631$726,648$704,283$864,857
62$848,787$723,235$688,857$901,959
63$895,115$718,426$671,686$941,629
64$944,901$712,113$652,672$984,108
65$998,458$704,183$631,714$1,029,658
66$1,056,129$694,516$608,704$1,078,568
67$1,118,290$682,984$583,532$1,131,157
68$1,185,357$669,451$556,082$1,187,777
69$1,257,784$653,775$526,231$1,248,815
70$1,336,072$635,804$493,853$1,314,697
71$1,420,769$615,376$458,816$1,385,893
72$1,512,481$592,323$420,980$1,462,921
73$1,611,872$566,465$380,200$1,546,351
74$1,719,672$537,610$336,326$1,636,814
75$1,836,684$505,559$289,198$1,735,001
76$1,963,792$470,097$238,652$1,841,678
77$2,101,967$431,001$184,516$1,957,685
78$2,252,279$388,031$126,609$2,083,953
79$2,415,905$340,938$64,743$2,221,503
80$2,594,137$289,454$0$2,371,464
81$2,788,402$233,300$0$2,535,230
82$3,000,266$172,178$0$2,722,140
83$3,231,454$105,777$0$2,926,122
84$3,483,867$33,764$0$3,148,870
85$3,759,593$0$0$3,392,247
86$4,060,936$0$0$3,661,709
87$4,390,428$0$0$3,959,202
88$4,750,860$0$0$4,284,646
89$5,145,303$0$0$4,640,815
90$5,577,139$0$0$5,030,766
91$6,050,094$0$0$5,457,864
92$6,568,269$0$0$5,925,817
93$7,136,181$0$0$6,438,705
94$7,758,805$0$0$7,001,024
95$8,441,622$0$0$7,617,724
96$9,190,665$0$0$8,294,260
97$10,012,583$0$0$9,036,638
98$10,914,698$0$0$9,851,474
99$11,905,074$0$0$10,746,056
100$12,992,596$0$0$11,728,412