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%18.3%
1 years$58,301$57,782$57,275$56,780$56,297$54,408
2 years$28,862$28,324$27,803$27,298$26,808$24,924
3 years$19,050$18,510$17,991$17,490$17,008$15,187
4 years$14,145$13,607$13,093$12,601$12,130$10,387
5 years$11,203$10,668$10,160$9,679$9,221$7,560
6 years$9,242$8,711$8,211$7,740$7,297$5,719
7 years$7,842$7,316$6,823$6,364$5,934$4,440
8 years$6,793$6,271$5,787$5,338$4,923$3,511
9 years$5,977$5,460$4,984$4,547$4,146$2,814
10 years$5,324$4,813$4,345$3,920$3,532$2,279
11 years$4,791$4,284$3,826$3,411$3,038$1,861
12 years$4,347$3,845$3,395$2,992$2,633$1,529
13 years$3,971$3,475$3,033$2,642$2,296$1,262
14 years$3,650$3,159$2,725$2,345$2,012$1,046
15 years$3,371$2,886$2,461$2,091$1,772$870
16 years$3,128$2,648$2,231$1,872$1,566$726
17 years$2,913$2,438$2,030$1,682$1,389$607
18 years$2,723$2,253$1,853$1,516$1,235$508
19 years$2,553$2,088$1,697$1,370$1,100$426
20 years$2,399$1,940$1,557$1,241$983$358
21 years$2,261$1,807$1,432$1,126$880$301
22 years$2,136$1,687$1,320$1,024$788$253
23 years$2,021$1,578$1,219$932$708$213
24 years$1,916$1,478$1,127$850$636$180
25 years$1,820$1,387$1,044$777$572$151
26 years$1,731$1,304$968$710$516$128
27 years$1,650$1,227$899$650$465$108
28 years$1,574$1,156$836$596$419$91
29 years$1,503$1,091$778$546$379$77
30 years$1,437$1,030$724$501$342$65
31 years$1,376$974$675$460$309$55
32 years$1,318$922$630$423$280$46
33 years$1,264$873$588$389$253$39
34 years$1,214$827$550$358$229$33
35 years$1,166$785$514$330$208$28
36 years$1,121$745$481$303$188$24
37 years$1,079$707$450$280$171$20
38 years$1,039$672$421$258$155$17
39 years$1,001$639$395$238$140$14
40 years$965$608$370$219$127$12
41 years$931$579$347$202$115$10
42 years$899$551$326$187$105$9
43 years$868$525$305$172$95$7
44 years$839$501$287$159$86$6
45 years$811$477$269$147$78$5
46 years$784$455$253$136$71$4
47 years$759$435$238$125$65$4
48 years$735$415$223$116$59$3
49 years$712$396$210$107$53$3
50 years$689$378$197$99$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $706,000, adding $3,996 every year, while hoping to spend $24,074 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: 39/31/30 Blend
59$706,000$706,000$706,000$706,000
60$782,134$744,716$733,773$805,558
61$836,297$755,592$732,740$833,986
62$895,178$766,195$730,865$862,211
63$959,232$776,485$728,095$892,282
64$1,028,962$786,420$724,374$924,383
65$1,104,918$795,957$719,643$958,720
66$1,187,709$805,048$713,840$995,518
67$1,278,002$813,642$706,900$1,035,028
68$1,376,533$821,685$698,756$1,077,529
69$1,484,111$829,120$689,337$1,123,326
70$1,601,629$835,885$678,568$1,172,761
71$1,730,067$841,915$666,372$1,226,210
72$1,870,505$847,141$652,666$1,284,089
73$2,024,133$851,487$637,367$1,346,859
74$2,192,260$854,875$620,385$1,415,029
75$2,376,329$857,223$601,626$1,489,164
76$2,577,927$858,439$580,993$1,569,886
77$2,798,803$858,431$558,384$1,657,885
78$3,040,884$857,096$533,693$1,753,923
79$3,306,290$854,330$506,807$1,858,843
80$3,597,357$850,017$477,610$1,973,574
81$3,916,658$844,039$445,981$2,099,148
82$4,267,028$836,268$411,793$2,236,700
83$4,651,588$826,568$374,911$2,387,487
84$5,073,777$814,797$335,197$2,552,898
85$5,537,382$800,802$292,506$2,734,466
86$6,046,577$784,423$246,687$2,933,886
87$6,605,957$765,489$197,581$3,153,028
88$7,220,587$743,821$145,022$3,393,959
89$7,896,046$719,227$88,839$3,658,961
90$8,638,478$691,504$28,851$3,950,555
91$9,454,655$660,440$0$4,271,521
92$10,352,037$625,809$0$4,636,190
93$11,338,841$587,369$0$5,047,281
94$12,424,122$544,870$0$5,499,359
95$13,617,856$498,042$0$5,996,625
96$14,931,036$446,605$0$6,543,708
97$16,375,770$390,257$0$7,145,717
98$17,965,403$328,684$0$7,808,283
99$19,714,637$261,553$0$8,537,616
100$21,639,671$188,510$0$9,340,561