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%17.5%
1 years$57,558$57,045$56,545$56,056$55,580$53,887
2 years$28,494$27,963$27,449$26,950$26,467$24,776
3 years$18,807$18,274$17,761$17,267$16,791$15,155
4 years$13,965$13,434$12,926$12,440$11,976$10,407
5 years$11,060$10,532$10,031$9,555$9,104$7,607
6 years$9,124$8,600$8,106$7,641$7,204$5,780
7 years$7,742$7,222$6,736$6,282$5,858$4,507
8 years$6,706$6,191$5,713$5,270$4,860$3,581
9 years$5,901$5,390$4,921$4,489$4,093$2,885
10 years$5,257$4,751$4,290$3,870$3,487$2,348
11 years$4,730$4,230$3,777$3,368$2,999$1,927
12 years$4,291$3,796$3,352$2,954$2,599$1,591
13 years$3,921$3,431$2,995$2,608$2,266$1,321
14 years$3,603$3,119$2,691$2,315$1,987$1,101
15 years$3,328$2,849$2,429$2,065$1,749$921
16 years$3,088$2,614$2,203$1,849$1,546$773
17 years$2,876$2,407$2,004$1,661$1,371$650
18 years$2,688$2,224$1,830$1,497$1,219$547
19 years$2,520$2,062$1,675$1,353$1,086$462
20 years$2,369$1,916$1,537$1,225$970$390
21 years$2,232$1,784$1,414$1,112$868$330
22 years$2,108$1,666$1,303$1,011$778$279
23 years$1,995$1,558$1,203$921$699$237
24 years$1,892$1,460$1,113$840$628$201
25 years$1,797$1,370$1,031$767$565$170
26 years$1,709$1,287$956$701$509$145
27 years$1,628$1,212$888$642$459$123
28 years$1,553$1,142$825$588$414$104
29 years$1,484$1,077$768$539$374$89
30 years$1,419$1,017$715$495$338$75
31 years$1,358$962$667$454$305$64
32 years$1,301$910$622$418$276$54
33 years$1,248$862$581$384$250$46
34 years$1,198$817$543$353$226$39
35 years$1,151$775$507$325$205$33
36 years$1,107$735$475$300$186$28
37 years$1,065$698$444$276$168$24
38 years$1,026$664$416$254$153$21
39 years$988$631$390$235$138$18
40 years$953$600$365$216$126$15
41 years$919$571$343$200$114$13
42 years$887$544$321$184$103$11
43 years$857$519$302$170$94$9
44 years$828$494$283$157$85$8
45 years$801$471$266$145$77$7
46 years$774$450$250$134$70$6
47 years$749$429$235$124$64$5
48 years$725$410$220$114$58$4
49 years$702$391$207$106$53$3
50 years$681$374$195$98$48$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $697,000, adding $5,290 every year, while hoping to spend $50,832 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: 67/16/17 Blend
59$697,000$697,000$697,000$697,000
60$773,551$736,610$725,806$821,850
61$798,368$718,619$696,036$836,798
62$824,013$698,042$663,564$846,714
63$850,516$674,701$628,248$856,304
64$877,911$648,402$589,936$865,533
65$906,229$618,946$548,470$874,366
66$935,507$586,117$503,687$882,763
67$965,783$549,690$455,414$890,684
68$997,094$509,427$403,472$898,086
69$1,029,482$465,073$347,673$904,925
70$1,062,990$416,363$287,821$911,153
71$1,097,664$363,014$223,712$916,721
72$1,133,552$304,727$155,132$921,577
73$1,170,704$241,188$81,858$925,665
74$1,209,173$172,064$3,658$928,930
75$1,249,017$97,003$0$931,311
76$1,290,295$15,634$0$947,220
77$1,333,070$0$0$963,767
78$1,377,410$0$0$993,020
79$1,423,386$0$0$1,026,211
80$1,471,074$0$0$1,060,642
81$1,520,556$0$0$1,096,373
82$1,571,917$0$0$1,133,465
83$1,625,248$0$0$1,171,987
84$1,680,649$0$0$1,212,010
85$1,738,225$0$0$1,253,610
86$1,798,086$0$0$1,296,870
87$1,860,354$0$0$1,341,877
88$1,925,158$0$0$1,388,726
89$1,992,635$0$0$1,437,517
90$2,062,936$0$0$1,488,361
91$2,136,219$0$0$1,541,373
92$2,212,657$0$0$1,596,680
93$2,292,436$0$0$1,654,418
94$2,375,756$0$0$1,714,734
95$2,462,834$0$0$1,777,786
96$2,553,903$0$0$1,843,747
97$2,649,218$0$0$1,912,801
98$2,749,050$0$0$1,985,150
99$2,853,699$0$0$2,061,012
100$2,963,486$0$0$2,140,623