Can I retire at age 60 with 694,000?

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 $694,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$57,310$56,799$56,301$55,815$55,341$53,785
2 years$28,371$27,843$27,331$26,834$26,353$24,797
3 years$18,726$18,196$17,685$17,193$16,719$15,212
4 years$13,905$13,376$12,870$12,387$11,924$10,478
5 years$11,013$10,487$9,988$9,514$9,065$7,683
6 years$9,085$8,563$8,072$7,608$7,173$5,857
7 years$7,709$7,191$6,707$6,255$5,833$4,583
8 years$6,677$6,164$5,688$5,247$4,839$3,654
9 years$5,875$5,367$4,899$4,470$4,075$2,954
10 years$5,234$4,731$4,271$3,853$3,472$2,414
11 years$4,710$4,212$3,761$3,353$2,986$1,988
12 years$4,273$3,780$3,337$2,941$2,588$1,649
13 years$3,904$3,416$2,982$2,597$2,257$1,374
14 years$3,588$3,105$2,679$2,305$1,978$1,151
15 years$3,314$2,837$2,419$2,056$1,742$967
16 years$3,075$2,603$2,193$1,841$1,539$814
17 years$2,864$2,397$1,996$1,654$1,365$688
18 years$2,676$2,215$1,822$1,490$1,214$582
19 years$2,509$2,053$1,668$1,347$1,082$493
20 years$2,359$1,907$1,531$1,220$966$419
21 years$2,223$1,777$1,408$1,107$865$356
22 years$2,099$1,658$1,297$1,006$775$303
23 years$1,987$1,551$1,198$917$696$258
24 years$1,884$1,453$1,108$836$625$219
25 years$1,789$1,364$1,026$763$563$187
26 years$1,702$1,282$952$698$507$160
27 years$1,621$1,206$884$639$457$136
28 years$1,547$1,137$822$585$412$116
29 years$1,477$1,072$765$537$372$99
30 years$1,413$1,013$712$493$336$85
31 years$1,352$957$664$453$304$72
32 years$1,296$906$619$416$275$62
33 years$1,243$858$578$382$249$53
34 years$1,193$813$540$352$225$45
35 years$1,146$771$505$324$204$39
36 years$1,102$732$473$298$185$33
37 years$1,061$695$442$275$168$28
38 years$1,021$661$414$253$152$24
39 years$984$628$388$234$138$21
40 years$949$598$364$215$125$18
41 years$915$569$341$199$113$15
42 years$884$542$320$183$103$13
43 years$853$516$300$169$93$11
44 years$825$492$282$156$85$9
45 years$797$469$265$144$77$8
46 years$771$448$249$133$70$7
47 years$746$427$234$123$63$6
48 years$722$408$219$114$58$5
49 years$699$389$206$105$52$4
50 years$678$372$194$97$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $694,000, adding $5,777 every year, while hoping to spend $46,347 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: 75/13/12 Blend
59$694,000$694,000$694,000$694,000
60$770,747$733,965$723,208$826,288
61$800,050$720,616$698,123$850,378
62$830,789$705,060$670,643$870,389
63$863,061$687,140$640,642$891,037
64$896,972$666,688$607,982$912,368
65$932,637$643,530$572,523$934,438
66$970,182$617,479$534,118$957,306
67$1,009,742$588,336$492,613$981,038
68$1,051,466$555,895$447,845$1,005,710
69$1,095,516$519,935$399,649$1,031,403
70$1,142,068$480,221$347,847$1,058,211
71$1,191,315$436,508$292,256$1,086,237
72$1,243,468$388,535$232,684$1,115,595
73$1,298,754$336,026$168,932$1,146,412
74$1,357,427$278,691$100,791$1,178,831
75$1,419,759$216,222$28,042$1,213,009
76$1,486,051$148,293$0$1,249,122
77$1,556,631$74,563$0$1,293,716
78$1,631,859$0$0$1,344,903
79$1,712,129$0$0$1,400,123
80$1,797,872$0$0$1,470,518
81$1,889,560$0$0$1,545,812
82$1,987,712$0$0$1,626,434
83$2,092,896$0$0$1,712,851
84$2,205,735$0$0$1,805,580
85$2,326,914$0$0$1,905,185
86$2,457,184$0$0$2,012,285
87$2,597,368$0$0$2,127,562
88$2,748,372$0$0$2,251,763
89$2,911,190$0$0$2,385,709
90$3,086,913$0$0$2,530,302
91$3,276,741$0$0$2,686,533
92$3,481,994$0$0$2,855,491
93$3,704,119$0$0$3,038,372
94$3,944,711$0$0$3,236,494
95$4,205,520$0$0$3,451,303
96$4,488,473$0$0$3,684,390
97$4,795,687$0$0$3,937,505
98$5,129,494$0$0$4,212,573
99$5,492,455$0$0$4,511,711
100$5,887,390$0$0$4,837,249