Can I retire at age 60 with 703,000?

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 $703,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$58,053$57,536$57,031$56,539$56,058$54,994
2 years$28,739$28,204$27,685$27,182$26,694$25,626
3 years$18,969$18,432$17,914$17,416$16,936$15,897
4 years$14,085$13,549$13,037$12,547$12,079$11,078
5 years$11,155$10,623$10,117$9,637$9,182$8,221
6 years$9,203$8,674$8,176$7,707$7,266$6,346
7 years$7,809$7,285$6,794$6,336$5,909$5,031
8 years$6,764$6,244$5,762$5,316$4,902$4,066
9 years$5,951$5,437$4,963$4,528$4,128$3,333
10 years$5,302$4,792$4,327$3,903$3,517$2,762
11 years$4,771$4,266$3,809$3,397$3,025$2,309
12 years$4,328$3,829$3,381$2,979$2,621$1,944
13 years$3,954$3,460$3,020$2,630$2,286$1,645
14 years$3,634$3,145$2,714$2,335$2,004$1,399
15 years$3,357$2,873$2,450$2,082$1,764$1,194
16 years$3,115$2,636$2,221$1,864$1,559$1,023
17 years$2,901$2,428$2,021$1,675$1,383$878
18 years$2,711$2,244$1,845$1,510$1,229$756
19 years$2,542$2,079$1,689$1,364$1,096$652
20 years$2,389$1,932$1,550$1,236$979$563
21 years$2,252$1,800$1,426$1,121$876$487
22 years$2,127$1,680$1,314$1,020$785$422
23 years$2,013$1,571$1,214$928$705$365
24 years$1,908$1,472$1,122$847$633$317
25 years$1,812$1,382$1,039$773$570$275
26 years$1,724$1,298$964$707$513$239
27 years$1,643$1,222$895$647$463$208
28 years$1,567$1,151$832$593$418$181
29 years$1,497$1,086$774$544$377$157
30 years$1,431$1,026$721$499$341$137
31 years$1,370$970$673$458$308$119
32 years$1,313$918$627$421$279$104
33 years$1,259$869$586$387$252$90
34 years$1,209$824$547$356$228$79
35 years$1,161$781$512$328$207$69
36 years$1,117$741$479$302$187$60
37 years$1,074$704$448$278$170$52
38 years$1,035$669$420$257$154$46
39 years$997$636$393$237$140$40
40 years$961$605$369$218$127$35
41 years$927$576$346$201$115$30
42 years$895$549$324$186$104$26
43 years$864$523$304$172$95$23
44 years$835$499$286$158$86$20
45 years$807$475$268$146$78$17
46 years$781$454$252$135$71$15
47 years$756$433$237$125$64$13
48 years$732$413$222$115$58$12
49 years$708$395$209$107$53$10
50 years$686$377$196$99$48$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $703,000, adding $3,999 every year, while hoping to spend $55,790 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: 51/20/29 Blend
59$703,000$703,000$703,000$703,000
60$778,831$741,572$730,675$812,000
61$798,912$718,549$695,793$812,542
62$819,171$692,528$657,872$807,237
63$839,567$663,303$616,752$800,382
64$860,055$630,657$572,265$791,857
65$880,580$594,358$524,236$781,528
66$901,082$554,165$472,480$769,258
67$921,492$509,818$416,808$754,895
68$941,731$461,046$357,018$738,279
69$961,711$407,561$292,902$719,237
70$981,333$349,059$224,241$697,584
71$1,000,485$285,219$150,809$673,121
72$1,019,040$215,700$72,367$645,637
73$1,036,858$140,145$0$614,902
74$1,053,780$58,175$0$584,180
75$1,069,630$0$0$573,822
76$1,084,211$0$0$567,949
77$1,097,301$0$0$574,002
78$1,108,654$0$0$579,038
79$1,117,998$0$0$582,902
80$1,125,028$0$0$585,421
81$1,129,403$0$0$586,404
82$1,130,748$0$0$585,637
83$1,128,644$0$0$582,884
84$1,122,626$0$0$577,881
85$1,112,178$0$0$570,338
86$1,096,728$0$0$559,931
87$1,075,643$0$0$546,302
88$1,048,218$0$0$529,055
89$1,013,677$0$0$507,750
90$971,156$0$0$481,901
91$919,701$0$0$450,969
92$858,258$0$0$414,360
93$785,656$0$0$371,415
94$700,605$0$0$321,405
95$601,674$0$0$263,525
96$487,286$0$0$196,886
97$355,694$0$0$120,503
98$204,968$0$0$33,291
99$32,978$0$0$0
100$0$0$0$0