Can I retire at age 60 with 706,000?

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 $706,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$58,301$57,782$57,275$56,780$56,297$54,495
2 years$28,862$28,324$27,803$27,298$26,808$25,009
3 years$19,050$18,510$17,991$17,490$17,008$15,269
4 years$14,145$13,607$13,093$12,601$12,130$10,464
5 years$11,203$10,668$10,160$9,679$9,221$7,632
6 years$9,242$8,711$8,211$7,740$7,297$5,786
7 years$7,842$7,316$6,823$6,364$5,934$4,502
8 years$6,793$6,271$5,787$5,338$4,923$3,569
9 years$5,977$5,460$4,984$4,547$4,146$2,868
10 years$5,324$4,813$4,345$3,920$3,532$2,328
11 years$4,791$4,284$3,826$3,411$3,038$1,906
12 years$4,347$3,845$3,395$2,992$2,633$1,570
13 years$3,971$3,475$3,033$2,642$2,296$1,300
14 years$3,650$3,159$2,725$2,345$2,012$1,081
15 years$3,371$2,886$2,461$2,091$1,772$901
16 years$3,128$2,648$2,231$1,872$1,566$754
17 years$2,913$2,438$2,030$1,682$1,389$632
18 years$2,723$2,253$1,853$1,516$1,235$531
19 years$2,553$2,088$1,697$1,370$1,100$447
20 years$2,399$1,940$1,557$1,241$983$376
21 years$2,261$1,807$1,432$1,126$880$317
22 years$2,136$1,687$1,320$1,024$788$268
23 years$2,021$1,578$1,219$932$708$226
24 years$1,916$1,478$1,127$850$636$191
25 years$1,820$1,387$1,044$777$572$162
26 years$1,731$1,304$968$710$516$137
27 years$1,650$1,227$899$650$465$116
28 years$1,574$1,156$836$596$419$98
29 years$1,503$1,091$778$546$379$83
30 years$1,437$1,030$724$501$342$70
31 years$1,376$974$675$460$309$60
32 years$1,318$922$630$423$280$50
33 years$1,264$873$588$389$253$43
34 years$1,214$827$550$358$229$36
35 years$1,166$785$514$330$208$31
36 years$1,121$745$481$303$188$26
37 years$1,079$707$450$280$171$22
38 years$1,039$672$421$258$155$19
39 years$1,001$639$395$238$140$16
40 years$965$608$370$219$127$13
41 years$931$579$347$202$115$11
42 years$899$551$326$187$105$10
43 years$868$525$305$172$95$8
44 years$839$501$287$159$86$7
45 years$811$477$269$147$78$6
46 years$784$455$253$136$71$5
47 years$759$435$238$125$65$4
48 years$735$415$223$116$59$4
49 years$712$396$210$107$53$3
50 years$689$378$197$99$48$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $706,000, adding $5,922 every year, while hoping to spend $29,609 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: 35/48/17 Blend
59$706,000$706,000$706,000$706,000
60$784,121$746,703$735,760$807,288
61$832,597$751,787$728,904$829,782
62$885,026$756,129$720,826$850,835
63$941,779$759,659$711,454$872,923
64$1,003,265$762,307$700,712$896,152
65$1,069,933$763,995$688,521$920,645
66$1,142,278$764,643$674,798$946,536
67$1,220,843$764,163$659,457$973,977
68$1,306,227$762,465$642,406$1,003,137
69$1,399,087$759,450$623,552$1,034,202
70$1,500,146$755,016$602,794$1,067,384
71$1,610,202$749,053$580,028$1,102,915
72$1,730,131$741,444$555,147$1,141,057
73$1,860,896$732,067$528,036$1,182,098
74$2,003,559$720,791$498,578$1,226,363
75$2,159,289$707,476$466,647$1,274,211
76$2,329,372$691,978$432,115$1,326,040
77$2,515,222$674,139$394,845$1,382,295
78$2,718,400$653,797$354,697$1,443,470
79$2,940,620$630,777$311,523$1,510,113
80$3,183,773$604,894$265,168$1,582,833
81$3,449,938$575,954$215,472$1,662,306
82$3,741,407$543,751$162,265$1,749,282
83$4,060,702$508,066$105,373$1,844,594
84$4,410,602$468,670$44,611$1,949,165
85$4,794,167$425,318$0$2,064,020
86$5,214,766$377,753$0$2,193,963
87$5,676,111$325,702$0$2,345,457
88$6,182,291$268,878$0$2,511,832
89$6,737,809$206,977$0$2,694,673
90$7,347,625$139,678$0$2,895,731
91$8,017,202$66,642$0$3,116,942
92$8,752,561$0$0$3,360,446
93$9,560,330$0$0$3,635,209
94$10,447,814$0$0$3,975,867
95$11,423,061$0$0$4,350,323
96$12,494,933$0$0$4,761,994
97$13,673,199$0$0$5,214,646
98$14,968,617$0$0$5,712,427
99$16,393,041$0$0$6,259,907
100$17,959,532$0$0$6,862,122