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%14.4%
1 years$58,301$57,782$57,275$56,780$56,297$55,274
2 years$28,862$28,324$27,803$27,298$26,808$25,781
3 years$19,050$18,510$17,991$17,490$17,008$16,009
4 years$14,145$13,607$13,093$12,601$12,130$11,167
5 years$11,203$10,668$10,160$9,679$9,221$8,296
6 years$9,242$8,711$8,211$7,740$7,297$6,411
7 years$7,842$7,316$6,823$6,364$5,934$5,088
8 years$6,793$6,271$5,787$5,338$4,923$4,116
9 years$5,977$5,460$4,984$4,547$4,146$3,378
10 years$5,324$4,813$4,345$3,920$3,532$2,803
11 years$4,791$4,284$3,826$3,411$3,038$2,346
12 years$4,347$3,845$3,395$2,992$2,633$1,978
13 years$3,971$3,475$3,033$2,642$2,296$1,676
14 years$3,650$3,159$2,725$2,345$2,012$1,427
15 years$3,371$2,886$2,461$2,091$1,772$1,220
16 years$3,128$2,648$2,231$1,872$1,566$1,046
17 years$2,913$2,438$2,030$1,682$1,389$900
18 years$2,723$2,253$1,853$1,516$1,235$776
19 years$2,553$2,088$1,697$1,370$1,100$670
20 years$2,399$1,940$1,557$1,241$983$579
21 years$2,261$1,807$1,432$1,126$880$502
22 years$2,136$1,687$1,320$1,024$788$435
23 years$2,021$1,578$1,219$932$708$378
24 years$1,916$1,478$1,127$850$636$328
25 years$1,820$1,387$1,044$777$572$285
26 years$1,731$1,304$968$710$516$248
27 years$1,650$1,227$899$650$465$216
28 years$1,574$1,156$836$596$419$188
29 years$1,503$1,091$778$546$379$164
30 years$1,437$1,030$724$501$342$143
31 years$1,376$974$675$460$309$125
32 years$1,318$922$630$423$280$109
33 years$1,264$873$588$389$253$95
34 years$1,214$827$550$358$229$83
35 years$1,166$785$514$330$208$72
36 years$1,121$745$481$303$188$63
37 years$1,079$707$450$280$171$55
38 years$1,039$672$421$258$155$48
39 years$1,001$639$395$238$140$42
40 years$965$608$370$219$127$37
41 years$931$579$347$202$115$32
42 years$899$551$326$187$105$28
43 years$868$525$305$172$95$25
44 years$839$501$287$159$86$21
45 years$811$477$269$147$78$19
46 years$784$455$253$136$71$16
47 years$759$435$238$125$65$14
48 years$735$415$223$116$59$13
49 years$712$396$210$107$53$11
50 years$689$378$197$99$48$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $706,000, adding $6,978 every year, while hoping to spend $55,625 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: 60/30/10 Blend
59$706,000$706,000$706,000$706,000
60$785,210$747,792$736,849$830,094
61$806,117$725,249$702,349$838,518
62$827,292$699,737$664,828$840,761
63$848,703$671,053$624,128$841,837
64$870,316$638,979$580,081$841,638
65$892,086$603,287$532,512$840,047
66$913,967$563,736$481,239$836,936
67$935,902$520,070$426,071$832,169
68$957,829$472,018$366,810$825,598
69$979,677$419,296$303,247$817,067
70$1,001,363$361,601$235,165$806,402
71$1,022,797$298,614$162,338$793,421
72$1,043,875$229,999$84,529$777,925
73$1,064,481$155,399$1,491$759,699
74$1,084,484$74,440$0$738,512
75$1,103,737$0$0$723,410
76$1,122,075$0$0$709,987
77$1,139,316$0$0$720,380
78$1,155,253$0$0$729,880
79$1,169,656$0$0$738,334
80$1,182,271$0$0$745,571
81$1,192,812$0$0$751,402
82$1,200,962$0$0$755,616
83$1,206,367$0$0$757,978
84$1,208,634$0$0$758,228
85$1,207,329$0$0$756,076
86$1,201,966$0$0$751,200
87$1,192,007$0$0$743,244
88$1,176,858$0$0$731,813
89$1,155,856$0$0$716,467
90$1,128,269$0$0$696,721
91$1,093,285$0$0$672,037
92$1,050,006$0$0$641,820
93$997,436$0$0$605,409
94$934,475$0$0$562,075
95$859,904$0$0$511,010
96$772,374$0$0$451,323
97$670,397$0$0$382,025
98$552,325$0$0$302,027
99$416,335$0$0$210,120
100$260,416$0$0$104,975