Can I retire at age 60 with 698,000?

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 $698,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$57,640$57,127$56,626$56,137$55,660$53,599
2 years$28,535$28,003$27,488$26,989$26,505$24,452
3 years$18,834$18,300$17,787$17,292$16,816$14,836
4 years$13,985$13,453$12,944$12,458$11,993$10,101
5 years$11,076$10,547$10,045$9,569$9,117$7,317
6 years$9,137$8,613$8,118$7,652$7,214$5,508
7 years$7,753$7,233$6,746$6,291$5,867$4,254
8 years$6,716$6,200$5,721$5,278$4,867$3,346
9 years$5,909$5,398$4,928$4,495$4,099$2,667
10 years$5,264$4,758$4,296$3,875$3,492$2,148
11 years$4,737$4,236$3,782$3,373$3,004$1,743
12 years$4,298$3,802$3,357$2,958$2,603$1,424
13 years$3,926$3,436$2,999$2,612$2,270$1,168
14 years$3,608$3,123$2,695$2,318$1,990$963
15 years$3,333$2,853$2,433$2,067$1,752$796
16 years$3,092$2,618$2,206$1,851$1,548$659
17 years$2,880$2,411$2,007$1,663$1,373$547
18 years$2,692$2,228$1,832$1,499$1,221$455
19 years$2,524$2,064$1,677$1,354$1,088$379
20 years$2,372$1,918$1,539$1,227$972$316
21 years$2,236$1,787$1,416$1,113$870$264
22 years$2,111$1,668$1,305$1,012$780$221
23 years$1,998$1,560$1,205$922$700$184
24 years$1,895$1,462$1,114$841$629$154
25 years$1,800$1,372$1,032$768$566$129
26 years$1,712$1,289$957$702$510$108
27 years$1,631$1,213$889$643$460$91
28 years$1,556$1,143$826$589$415$76
29 years$1,486$1,079$769$540$374$64
30 years$1,421$1,019$716$496$338$53
31 years$1,360$963$668$455$306$45
32 years$1,303$911$623$418$277$37
33 years$1,250$863$582$385$250$31
34 years$1,200$818$544$354$227$26
35 years$1,153$776$508$326$205$22
36 years$1,109$736$475$300$186$19
37 years$1,067$699$445$276$169$16
38 years$1,027$664$417$255$153$13
39 years$990$632$390$235$139$11
40 years$954$601$366$217$126$9
41 years$921$572$343$200$114$8
42 years$889$545$322$185$104$6
43 years$858$519$302$170$94$5
44 years$829$495$283$157$85$5
45 years$802$472$266$145$77$4
46 years$775$450$250$134$70$3
47 years$750$430$235$124$64$3
48 years$726$410$221$115$58$2
49 years$703$392$207$106$53$2
50 years$681$374$195$98$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $698,000, adding $4,603 every year, while hoping to spend $41,192 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: 36/45/19 Blend
59$698,000$698,000$698,000$698,000
60$773,944$736,950$726,131$797,194
61$809,058$729,233$706,628$806,816
62$846,374$719,756$685,092$813,007
63$886,071$708,392$661,410$818,834
64$928,349$695,002$635,466$824,286
65$973,424$679,440$607,137$829,358
66$1,021,533$661,553$576,296$834,047
67$1,072,938$641,177$542,810$838,351
68$1,127,923$618,140$506,540$842,276
69$1,186,801$592,259$467,339$845,831
70$1,249,915$563,340$425,055$849,031
71$1,317,642$531,179$379,530$851,897
72$1,390,394$495,560$330,597$854,459
73$1,468,625$456,253$278,083$856,755
74$1,552,833$413,017$221,807$858,832
75$1,643,564$365,597$161,579$860,750
76$1,741,418$313,722$97,203$862,581
77$1,847,055$257,106$28,471$864,410
78$1,961,199$195,449$0$866,342
79$2,084,647$128,432$0$877,596
80$2,218,273$55,717$0$895,967
81$2,363,041$0$0$915,891
82$2,520,008$0$0$949,024
83$2,690,338$0$0$1,015,000
84$2,875,310$0$0$1,086,734
85$3,076,332$0$0$1,164,784
86$3,294,952$0$0$1,249,761
87$3,532,873$0$0$1,342,341
88$3,791,970$0$0$1,443,265
89$4,074,305$0$0$1,553,349
90$4,382,149$0$0$1,673,491
91$4,717,999$0$0$1,804,683
92$5,084,605$0$0$1,948,011
93$5,484,994$0$0$2,104,675
94$5,922,498$0$0$2,275,994
95$6,400,786$0$0$2,463,423
96$6,923,896$0$0$2,668,560
97$7,496,276$0$0$2,893,169
98$8,122,822$0$0$3,139,188
99$8,808,926$0$0$3,408,756
100$9,560,526$0$0$3,704,224