Can I retire at age 60 with 698,000?

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 $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%12.5%
1 years$57,640$57,127$56,626$56,137$55,660$55,078
2 years$28,535$28,003$27,488$26,989$26,505$25,919
3 years$18,834$18,300$17,787$17,292$16,816$16,244
4 years$13,985$13,453$12,944$12,458$11,993$11,440
5 years$11,076$10,547$10,045$9,569$9,117$8,584
6 years$9,137$8,613$8,118$7,652$7,214$6,702
7 years$7,753$7,233$6,746$6,291$5,867$5,376
8 years$6,716$6,200$5,721$5,278$4,867$4,397
9 years$5,909$5,398$4,928$4,495$4,099$3,649
10 years$5,264$4,758$4,296$3,875$3,492$3,064
11 years$4,737$4,236$3,782$3,373$3,004$2,595
12 years$4,298$3,802$3,357$2,958$2,603$2,214
13 years$3,926$3,436$2,999$2,612$2,270$1,900
14 years$3,608$3,123$2,695$2,318$1,990$1,639
15 years$3,333$2,853$2,433$2,067$1,752$1,419
16 years$3,092$2,618$2,206$1,851$1,548$1,233
17 years$2,880$2,411$2,007$1,663$1,373$1,075
18 years$2,692$2,228$1,832$1,499$1,221$939
19 years$2,524$2,064$1,677$1,354$1,088$822
20 years$2,372$1,918$1,539$1,227$972$721
21 years$2,236$1,787$1,416$1,113$870$634
22 years$2,111$1,668$1,305$1,012$780$558
23 years$1,998$1,560$1,205$922$700$491
24 years$1,895$1,462$1,114$841$629$433
25 years$1,800$1,372$1,032$768$566$382
26 years$1,712$1,289$957$702$510$338
27 years$1,631$1,213$889$643$460$299
28 years$1,556$1,143$826$589$415$264
29 years$1,486$1,079$769$540$374$234
30 years$1,421$1,019$716$496$338$207
31 years$1,360$963$668$455$306$183
32 years$1,303$911$623$418$277$163
33 years$1,250$863$582$385$250$144
34 years$1,200$818$544$354$227$128
35 years$1,153$776$508$326$205$113
36 years$1,109$736$475$300$186$101
37 years$1,067$699$445$276$169$89
38 years$1,027$664$417$255$153$79
39 years$990$632$390$235$139$70
40 years$954$601$366$217$126$62
41 years$921$572$343$200$114$55
42 years$889$545$322$185$104$49
43 years$858$519$302$170$94$44
44 years$829$495$283$157$85$39
45 years$802$472$266$145$77$35
46 years$775$450$250$134$70$31
47 years$750$430$235$124$64$27
48 years$726$410$221$115$58$24
49 years$703$392$207$106$53$22
50 years$681$374$195$98$48$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $698,000, adding $5,439 every year, while hoping to spend $41,393 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: 60/23/17 Blend
59$698,000$698,000$698,000$698,000
60$774,806$737,812$726,993$817,604
61$809,795$729,923$707,306$839,257
62$846,965$720,260$685,571$857,793
63$886,495$708,693$661,678$877,053
64$928,581$695,083$635,508$897,114
65$973,438$679,283$606,938$918,061
66$1,021,299$661,138$575,841$939,988
67$1,072,422$640,485$542,083$963,003
68$1,127,088$617,148$505,522$987,225
69$1,185,607$590,944$466,013$1,012,789
70$1,248,317$561,678$423,402$1,039,844
71$1,315,589$529,144$377,530$1,068,558
72$1,387,831$493,124$328,229$1,099,120
73$1,465,491$453,388$275,326$1,131,739
74$1,549,059$409,692$218,637$1,166,649
75$1,639,074$361,778$157,973$1,204,111
76$1,736,130$309,376$93,135$1,244,417
77$1,840,876$252,196$23,916$1,287,891
78$1,954,027$189,936$0$1,334,894
79$2,076,370$122,274$0$1,394,890
80$2,208,767$48,873$0$1,464,485
81$2,352,168$0$0$1,539,877
82$2,507,615$0$0$1,629,416
83$2,676,258$0$0$1,740,021
84$2,859,357$0$0$1,860,156
85$3,058,302$0$0$1,990,739
86$3,274,618$0$0$2,132,778
87$3,509,986$0$0$2,287,383
88$3,766,255$0$0$2,455,775
89$4,045,458$0$0$2,639,298
90$4,349,833$0$0$2,839,431
91$4,681,845$0$0$3,057,801
92$5,044,204$0$0$3,296,201
93$5,439,895$0$0$3,556,603
94$5,872,204$0$0$3,841,178
95$6,344,747$0$0$4,152,316
96$6,861,508$0$0$4,492,649
97$7,426,871$0$0$4,865,075
98$8,045,664$0$0$5,272,785
99$8,723,203$0$0$5,719,293
100$9,465,343$0$0$6,208,469