Can I retire at age 60 with 697,000?

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 $697,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$57,558$57,045$56,545$56,056$55,580$54,280
2 years$28,494$27,963$27,449$26,950$26,467$25,165
3 years$18,807$18,274$17,761$17,267$16,791$15,528
4 years$13,965$13,434$12,926$12,440$11,976$10,760
5 years$11,060$10,532$10,031$9,555$9,104$7,940
6 years$9,124$8,600$8,106$7,641$7,204$6,092
7 years$7,742$7,222$6,736$6,282$5,858$4,800
8 years$6,706$6,191$5,713$5,270$4,860$3,854
9 years$5,901$5,390$4,921$4,489$4,093$3,138
10 years$5,257$4,751$4,290$3,870$3,487$2,583
11 years$4,730$4,230$3,777$3,368$2,999$2,145
12 years$4,291$3,796$3,352$2,954$2,599$1,792
13 years$3,921$3,431$2,995$2,608$2,266$1,506
14 years$3,603$3,119$2,691$2,315$1,987$1,271
15 years$3,328$2,849$2,429$2,065$1,749$1,077
16 years$3,088$2,614$2,203$1,849$1,546$915
17 years$2,876$2,407$2,004$1,661$1,371$780
18 years$2,688$2,224$1,830$1,497$1,219$666
19 years$2,520$2,062$1,675$1,353$1,086$569
20 years$2,369$1,916$1,537$1,225$970$488
21 years$2,232$1,784$1,414$1,112$868$418
22 years$2,108$1,666$1,303$1,011$778$359
23 years$1,995$1,558$1,203$921$699$309
24 years$1,892$1,460$1,113$840$628$265
25 years$1,797$1,370$1,031$767$565$228
26 years$1,709$1,287$956$701$509$197
27 years$1,628$1,212$888$642$459$169
28 years$1,553$1,142$825$588$414$146
29 years$1,484$1,077$768$539$374$126
30 years$1,419$1,017$715$495$338$109
31 years$1,358$962$667$454$305$94
32 years$1,301$910$622$418$276$81
33 years$1,248$862$581$384$250$70
34 years$1,198$817$543$353$226$60
35 years$1,151$775$507$325$205$52
36 years$1,107$735$475$300$186$45
37 years$1,065$698$444$276$168$39
38 years$1,026$664$416$254$153$34
39 years$988$631$390$235$138$29
40 years$953$600$365$216$126$25
41 years$919$571$343$200$114$22
42 years$887$544$321$184$103$19
43 years$857$519$302$170$94$16
44 years$828$494$283$157$85$14
45 years$801$471$266$145$77$12
46 years$774$450$250$134$70$10
47 years$749$429$235$124$64$9
48 years$725$410$220$114$58$8
49 years$702$391$207$106$53$7
50 years$681$374$195$98$48$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $697,000, adding $5,020 every year, while hoping to spend $33,988 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: 64/9/27 Blend
59$697,000$697,000$697,000$697,000
60$773,272$736,331$725,528$816,938
61$815,983$736,248$713,670$846,999
62$861,911$735,022$700,276$875,628
63$911,349$732,561$685,258$906,165
64$964,617$728,768$668,525$938,802
65$1,022,069$723,538$649,981$973,751
66$1,084,091$716,762$629,526$1,011,248
67$1,151,109$708,325$607,056$1,051,553
68$1,223,591$698,101$582,462$1,094,953
69$1,302,051$685,962$555,627$1,141,766
70$1,387,053$671,767$526,434$1,192,345
71$1,479,220$655,371$494,757$1,247,080
72$1,579,235$636,619$460,466$1,306,402
73$1,687,849$615,345$423,424$1,370,786
74$1,805,889$591,376$383,488$1,440,761
75$1,934,264$564,528$340,509$1,516,907
76$2,073,975$534,606$294,332$1,599,871
77$2,226,122$501,404$244,794$1,690,362
78$2,391,918$464,703$191,725$1,789,168
79$2,572,694$424,275$134,949$1,897,158
80$2,769,919$379,875$74,280$2,015,293
81$2,985,208$331,245$9,525$2,144,632
82$3,220,337$278,115$0$2,286,350
83$3,477,265$220,196$0$2,458,903
84$3,758,147$157,186$0$2,650,603
85$4,065,353$88,763$0$2,860,344
86$4,401,496$14,590$0$3,089,936
87$4,769,453$0$0$3,341,373
88$5,172,389$0$0$3,623,360
89$5,613,794$0$0$3,933,898
90$6,097,507$0$0$4,274,251
91$6,627,759$0$0$4,647,402
92$7,209,208$0$0$5,056,635
93$7,846,985$0$0$5,505,568
94$8,546,743$0$0$5,998,187
95$9,314,705$0$0$6,538,882
96$10,157,731$0$0$7,132,487
97$11,083,371$0$0$7,784,329
98$12,099,949$0$0$8,500,275
99$13,216,628$0$0$9,286,789
100$14,443,507$0$0$10,150,991