Can I retire at age 60 with 703,000?

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 $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%15%
1 years$58,053$57,536$57,031$56,539$56,058$54,904
2 years$28,739$28,204$27,685$27,182$26,694$25,537
3 years$18,969$18,432$17,914$17,416$16,936$15,811
4 years$14,085$13,549$13,037$12,547$12,079$10,995
5 years$11,155$10,623$10,117$9,637$9,182$8,143
6 years$9,203$8,674$8,176$7,707$7,266$6,272
7 years$7,809$7,285$6,794$6,336$5,909$4,961
8 years$6,764$6,244$5,762$5,316$4,902$4,000
9 years$5,951$5,437$4,963$4,528$4,128$3,271
10 years$5,302$4,792$4,327$3,903$3,517$2,704
11 years$4,771$4,266$3,809$3,397$3,025$2,255
12 years$4,328$3,829$3,381$2,979$2,621$1,893
13 years$3,954$3,460$3,020$2,630$2,286$1,598
14 years$3,634$3,145$2,714$2,335$2,004$1,355
15 years$3,357$2,873$2,450$2,082$1,764$1,154
16 years$3,115$2,636$2,221$1,864$1,559$985
17 years$2,901$2,428$2,021$1,675$1,383$844
18 years$2,711$2,244$1,845$1,510$1,229$724
19 years$2,542$2,079$1,689$1,364$1,096$622
20 years$2,389$1,932$1,550$1,236$979$536
21 years$2,252$1,800$1,426$1,121$876$462
22 years$2,127$1,680$1,314$1,020$785$399
23 years$2,013$1,571$1,214$928$705$345
24 years$1,908$1,472$1,122$847$633$298
25 years$1,812$1,382$1,039$773$570$258
26 years$1,724$1,298$964$707$513$223
27 years$1,643$1,222$895$647$463$194
28 years$1,567$1,151$832$593$418$168
29 years$1,497$1,086$774$544$377$146
30 years$1,431$1,026$721$499$341$126
31 years$1,370$970$673$458$308$110
32 years$1,313$918$627$421$279$95
33 years$1,259$869$586$387$252$83
34 years$1,209$824$547$356$228$72
35 years$1,161$781$512$328$207$62
36 years$1,117$741$479$302$187$54
37 years$1,074$704$448$278$170$47
38 years$1,035$669$420$257$154$41
39 years$997$636$393$237$140$36
40 years$961$605$369$218$127$31
41 years$927$576$346$201$115$27
42 years$895$549$324$186$104$23
43 years$864$523$304$172$95$20
44 years$835$499$286$158$86$18
45 years$807$475$268$146$78$15
46 years$781$454$252$135$71$13
47 years$756$433$237$125$64$12
48 years$732$413$222$115$58$10
49 years$708$395$209$107$53$9
50 years$686$377$196$99$48$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $703,000, adding $5,902 every year, while hoping to spend $38,876 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: 55/18/27 Blend
59$703,000$703,000$703,000$703,000
60$780,794$743,535$732,638$817,622
61$819,071$738,604$715,818$838,707
62$859,950$732,129$697,131$857,143
63$903,654$723,993$676,474$876,431
64$950,429$714,071$653,739$896,667
65$1,000,546$702,234$628,812$917,957
66$1,054,300$688,341$601,576$940,423
67$1,112,015$672,246$571,905$964,198
68$1,174,047$653,793$539,670$989,433
69$1,240,788$632,817$504,737$1,016,296
70$1,312,666$609,143$466,964$1,044,974
71$1,390,154$582,587$426,203$1,075,678
72$1,473,769$552,953$382,300$1,108,642
73$1,564,079$520,034$335,093$1,144,126
74$1,661,711$483,611$284,415$1,182,422
75$1,767,352$443,454$230,088$1,223,853
76$1,881,756$399,318$171,931$1,268,780
77$2,005,755$350,944$109,750$1,317,604
78$2,140,261$298,060$43,346$1,370,771
79$2,286,280$240,377$0$1,428,778
80$2,444,916$177,590$0$1,500,104
81$2,617,383$109,378$0$1,591,275
82$2,805,019$35,401$0$1,690,536
83$3,009,296$0$0$1,798,711
84$3,231,830$0$0$1,925,562
85$3,474,404$0$0$2,071,539
86$3,738,978$0$0$2,230,816
87$4,027,709$0$0$2,404,702
88$4,342,973$0$0$2,594,634
89$4,687,383$0$0$2,802,195
90$5,063,818$0$0$3,029,129
91$5,475,446$0$0$3,277,355
92$5,925,757$0$0$3,548,987
93$6,418,591$0$0$3,846,352
94$6,958,180$0$0$4,172,012
95$7,549,181$0$0$4,528,789
96$8,196,723$0$0$4,919,791
97$8,906,457$0$0$5,348,442
98$9,684,605$0$0$5,818,509
99$10,538,018$0$0$6,334,146
100$11,474,246$0$0$6,899,926