Can I retire at age 60 with 692,000?

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 $692,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$57,145$56,636$56,139$55,654$55,181$53,479
2 years$28,289$27,763$27,252$26,757$26,277$24,577
3 years$18,672$18,143$17,634$17,143$16,671$15,026
4 years$13,865$13,337$12,833$12,351$11,890$10,313
5 years$10,981$10,456$9,959$9,487$9,039$7,534
6 years$9,059$8,539$8,048$7,587$7,152$5,721
7 years$7,687$7,171$6,688$6,237$5,816$4,459
8 years$6,658$6,147$5,672$5,232$4,825$3,541
9 years$5,858$5,352$4,885$4,457$4,064$2,851
10 years$5,219$4,717$4,259$3,842$3,462$2,319
11 years$4,696$4,199$3,750$3,344$2,978$1,902
12 years$4,261$3,769$3,328$2,933$2,580$1,570
13 years$3,893$3,406$2,973$2,589$2,250$1,302
14 years$3,577$3,096$2,671$2,298$1,973$1,085
15 years$3,304$2,828$2,412$2,050$1,737$907
16 years$3,066$2,595$2,187$1,835$1,535$760
17 years$2,856$2,390$1,990$1,649$1,361$639
18 years$2,669$2,208$1,816$1,486$1,210$538
19 years$2,502$2,047$1,663$1,343$1,079$453
20 years$2,352$1,902$1,526$1,216$963$383
21 years$2,216$1,772$1,404$1,104$862$323
22 years$2,093$1,654$1,294$1,004$773$274
23 years$1,981$1,547$1,195$914$694$232
24 years$1,878$1,449$1,105$834$624$196
25 years$1,784$1,360$1,023$761$561$166
26 years$1,697$1,278$949$696$505$141
27 years$1,617$1,203$881$637$456$120
28 years$1,542$1,133$819$584$411$102
29 years$1,473$1,069$762$535$371$86
30 years$1,409$1,010$710$491$335$73
31 years$1,348$955$662$451$303$62
32 years$1,292$903$618$415$274$53
33 years$1,239$855$577$381$248$45
34 years$1,190$811$539$351$225$38
35 years$1,143$769$504$323$204$32
36 years$1,099$730$471$297$184$28
37 years$1,058$693$441$274$167$23
38 years$1,018$659$413$253$152$20
39 years$981$626$387$233$137$17
40 years$946$596$363$215$125$14
41 years$913$567$340$198$113$12
42 years$881$540$319$183$103$10
43 years$851$515$299$169$93$9
44 years$822$491$281$156$85$8
45 years$795$468$264$144$77$6
46 years$769$446$248$133$70$5
47 years$744$426$233$123$63$5
48 years$720$407$219$114$57$4
49 years$697$388$206$105$52$3
50 years$676$371$193$97$47$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $692,000, adding $5,513 every year, while hoping to spend $33,358 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: 37/37/26 Blend
59$692,000$692,000$692,000$692,000
60$768,271$731,595$720,869$790,546
61$811,142$731,950$709,525$807,775
62$857,267$731,205$696,684$822,915
63$906,945$729,270$682,259$838,618
64$960,500$726,051$666,161$854,956
65$1,018,290$721,447$648,297$872,011
66$1,080,710$715,352$628,568$889,877
67$1,148,190$707,652$606,874$908,658
68$1,221,207$698,229$583,105$928,473
69$1,300,283$686,954$557,152$949,455
70$1,385,991$673,695$528,896$971,755
71$1,478,964$658,307$498,216$995,543
72$1,579,895$640,641$464,983$1,021,008
73$1,689,549$620,537$429,065$1,048,365
74$1,808,765$597,826$390,321$1,077,854
75$1,938,469$572,329$348,606$1,109,741
76$2,079,676$543,856$303,767$1,144,329
77$2,233,506$512,208$255,646$1,181,953
78$2,401,190$477,173$204,077$1,222,987
79$2,584,084$438,527$148,886$1,267,853
80$2,783,679$396,033$89,892$1,317,017
81$3,001,617$349,442$26,907$1,371,001
82$3,239,707$298,489$0$1,430,387
83$3,499,937$242,895$0$1,507,005
84$3,784,498$182,365$0$1,599,087
85$4,095,803$116,587$0$1,700,022
86$4,436,508$45,233$0$1,810,766
87$4,809,537$0$0$1,932,375
88$5,218,111$0$0$2,079,068
89$5,665,776$0$0$2,260,069
90$6,156,439$0$0$2,458,554
91$6,694,402$0$0$2,676,275
92$7,284,402$0$0$2,915,163
93$7,931,657$0$0$3,177,343
94$8,641,917$0$0$3,465,158
95$9,421,511$0$0$3,781,187
96$10,277,416$0$0$4,128,273
97$11,217,312$0$0$4,509,545
98$12,249,662$0$0$4,928,454
99$13,383,791$0$0$5,388,797
100$14,629,967$0$0$5,894,761