Can I retire at age 60 with 700,000?

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 $700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$57,805$57,290$56,788$56,298$55,819$54,625
2 years$28,617$28,084$27,567$27,066$26,580$25,383
3 years$18,888$18,353$17,838$17,342$16,864$15,701
4 years$14,025$13,491$12,981$12,494$12,027$10,908
5 years$11,108$10,577$10,074$9,596$9,143$8,070
6 years$9,164$8,637$8,141$7,674$7,235$6,209
7 years$7,776$7,254$6,765$6,309$5,884$4,906
8 years$6,735$6,218$5,738$5,293$4,881$3,950
9 years$5,926$5,414$4,942$4,508$4,111$3,227
10 years$5,279$4,772$4,308$3,886$3,502$2,664
11 years$4,750$4,248$3,793$3,382$3,012$2,219
12 years$4,310$3,813$3,366$2,967$2,610$1,860
13 years$3,938$3,446$3,008$2,619$2,276$1,569
14 years$3,619$3,132$2,702$2,325$1,995$1,328
15 years$3,343$2,861$2,440$2,073$1,757$1,129
16 years$3,101$2,625$2,212$1,857$1,553$963
17 years$2,889$2,418$2,013$1,668$1,377$823
18 years$2,700$2,234$1,837$1,503$1,224$706
19 years$2,531$2,070$1,682$1,358$1,091$606
20 years$2,379$1,924$1,544$1,230$975$521
21 years$2,242$1,792$1,420$1,117$872$448
22 years$2,117$1,673$1,309$1,015$782$386
23 years$2,004$1,565$1,208$925$702$333
24 years$1,900$1,466$1,118$843$631$288
25 years$1,805$1,376$1,035$770$568$249
26 years$1,717$1,293$960$704$511$215
27 years$1,635$1,217$891$645$461$186
28 years$1,560$1,147$829$591$416$161
29 years$1,490$1,082$771$542$376$139
30 years$1,425$1,021$718$497$339$121
31 years$1,364$966$670$456$307$105
32 years$1,307$914$625$419$278$91
33 years$1,254$865$583$386$251$79
34 years$1,203$820$545$355$227$68
35 years$1,156$778$510$327$206$59
36 years$1,112$738$477$301$187$51
37 years$1,070$701$446$277$169$44
38 years$1,030$666$418$256$153$39
39 years$993$634$391$236$139$33
40 years$957$603$367$217$126$29
41 years$923$574$344$201$114$25
42 years$891$547$323$185$104$22
43 years$861$521$303$171$94$19
44 years$832$496$284$158$86$16
45 years$804$473$267$146$78$14
46 years$778$452$251$135$70$12
47 years$753$431$236$124$64$11
48 years$728$411$221$115$58$9
49 years$705$393$208$106$53$8
50 years$683$375$196$98$48$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $700,000, adding $6,924 every year, while hoping to spend $24,094 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: 54/29/17 Blend
59$700,000$700,000$700,000$700,000
60$778,542$741,442$730,592$816,675
61$832,318$752,137$729,431$854,183
62$890,771$762,548$727,424$891,842
63$954,353$772,637$724,516$932,299
64$1,023,561$782,361$720,652$975,827
65$1,098,943$791,674$715,772$1,022,728
66$1,181,099$800,530$709,814$1,073,333
67$1,270,692$808,877$702,714$1,128,011
68$1,368,451$816,661$694,403$1,187,166
69$1,475,178$823,822$684,811$1,251,245
70$1,591,756$830,300$673,862$1,320,743
71$1,719,158$836,027$661,479$1,396,204
72$1,858,454$840,934$647,580$1,478,229
73$2,010,821$844,945$632,079$1,567,482
74$2,177,559$847,981$614,888$1,664,696
75$2,360,095$849,957$595,912$1,770,677
76$2,560,004$850,784$575,054$1,886,319
77$2,779,017$850,366$552,211$2,012,606
78$3,019,044$848,600$527,277$2,150,622
79$3,282,185$845,380$500,139$2,301,567
80$3,570,755$840,591$470,681$2,466,762
81$3,887,303$834,111$438,780$2,647,667
82$4,234,638$825,812$404,309$2,845,891
83$4,615,852$815,558$367,135$3,063,209
84$5,034,352$803,204$327,117$3,301,581
85$5,493,891$788,596$284,111$3,563,167
86$5,998,604$771,573$237,964$3,850,352
87$6,553,043$751,962$188,518$4,165,767
88$7,162,227$729,582$135,607$4,512,311
89$7,831,682$704,239$79,057$4,893,185
90$8,567,497$675,730$18,689$5,311,919
91$9,376,380$643,839$0$5,772,406
92$10,265,722$608,338$0$6,287,236
93$11,243,664$568,985$0$6,857,006
94$12,319,178$525,526$0$7,483,582
95$13,502,147$477,690$0$8,172,765
96$14,803,461$425,191$0$8,930,947
97$16,235,118$367,730$0$9,765,176
98$17,810,338$304,986$0$10,683,222
99$19,543,686$236,624$0$11,693,650
100$21,451,212$162,288$0$12,805,903