Can I retire at age 60 with 702,000?

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 $702,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$57,971$57,454$56,950$56,459$55,978$55,649
2 years$28,698$28,164$27,646$27,144$26,656$26,324
3 years$18,942$18,405$17,889$17,391$16,912$16,587
4 years$14,065$13,530$13,018$12,529$12,062$11,747
5 years$11,140$10,608$10,103$9,624$9,169$8,865
6 years$9,190$8,662$8,165$7,696$7,255$6,962
7 years$7,798$7,274$6,785$6,327$5,900$5,619
8 years$6,754$6,235$5,754$5,308$4,895$4,625
9 years$5,943$5,429$4,956$4,521$4,122$3,863
10 years$5,294$4,785$4,321$3,897$3,512$3,264
11 years$4,764$4,260$3,804$3,392$3,021$2,784
12 years$4,322$3,824$3,376$2,975$2,618$2,391
13 years$3,949$3,456$3,016$2,627$2,283$2,067
14 years$3,629$3,141$2,710$2,332$2,001$1,796
15 years$3,352$2,869$2,447$2,079$1,762$1,566
16 years$3,110$2,633$2,218$1,862$1,557$1,372
17 years$2,897$2,424$2,019$1,673$1,381$1,205
18 years$2,707$2,240$1,843$1,508$1,228$1,061
19 years$2,538$2,076$1,687$1,362$1,094$936
20 years$2,386$1,929$1,548$1,234$977$828
21 years$2,248$1,797$1,424$1,120$875$733
22 years$2,124$1,678$1,312$1,018$784$651
23 years$2,010$1,569$1,212$927$704$578
24 years$1,906$1,470$1,121$846$633$514
25 years$1,810$1,380$1,038$772$569$458
26 years$1,722$1,297$963$706$513$408
27 years$1,640$1,220$894$646$462$364
28 years$1,565$1,150$831$592$417$325
29 years$1,494$1,085$773$543$377$290
30 years$1,429$1,024$720$498$340$259
31 years$1,368$968$672$458$308$231
32 years$1,311$916$627$421$278$207
33 years$1,257$868$585$387$252$185
34 years$1,207$822$547$356$228$166
35 years$1,160$780$511$328$207$148
36 years$1,115$740$478$302$187$133
37 years$1,073$703$447$278$170$119
38 years$1,033$668$419$256$154$107
39 years$995$635$393$236$139$96
40 years$960$605$368$218$126$86
41 years$926$576$345$201$115$77
42 years$894$548$324$186$104$69
43 years$863$522$304$171$94$62
44 years$834$498$285$158$86$55
45 years$806$475$268$146$78$50
46 years$780$453$251$135$71$45
47 years$755$432$236$125$64$40
48 years$731$413$222$115$58$36
49 years$707$394$209$106$53$32
50 years$685$376$196$98$48$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $702,000, adding $5,244 every year, while hoping to spend $53,035 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: 67/27/6 Blend
59$702,000$702,000$702,000$702,000
60$779,013$741,807$730,926$830,151
61$802,044$721,727$698,983$844,656
62$825,646$698,885$664,193$853,604
63$849,822$673,091$626,404$861,958
64$874,573$644,141$585,457$869,652
65$899,897$611,822$541,188$876,615
66$925,792$575,907$493,424$882,768
67$952,253$536,157$441,983$888,031
68$979,272$492,317$386,679$892,313
69$1,006,839$444,122$327,313$895,519
70$1,034,939$391,286$263,681$897,546
71$1,063,555$333,512$195,567$898,284
72$1,092,667$270,483$122,747$897,614
73$1,122,247$201,865$44,988$895,407
74$1,152,266$127,306$0$891,526
75$1,182,687$46,434$0$888,255
76$1,213,467$0$0$886,235
77$1,244,555$0$0$894,653
78$1,275,896$0$0$917,029
79$1,307,421$0$0$939,517
80$1,339,055$0$0$962,062
81$1,370,713$0$0$984,597
82$1,402,293$0$0$1,007,049
83$1,433,686$0$0$1,029,336
84$1,464,764$0$0$1,051,362
85$1,495,385$0$0$1,073,021
86$1,525,387$0$0$1,094,194
87$1,554,590$0$0$1,114,746
88$1,582,791$0$0$1,134,526
89$1,609,761$0$0$1,153,364
90$1,635,246$0$0$1,171,073
91$1,658,962$0$0$1,187,439
92$1,680,589$0$0$1,202,229
93$1,699,773$0$0$1,215,177
94$1,716,119$0$0$1,225,991
95$1,729,186$0$0$1,234,344
96$1,738,483$0$0$1,239,873
97$1,743,465$0$0$1,242,175
98$1,743,527$0$0$1,240,800
99$1,737,995$0$0$1,235,250
100$1,726,123$0$0$1,224,973