Can I retire at age 60 with 707,000?

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 $707,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$58,383$57,863$57,356$56,861$56,377$55,420
2 years$28,903$28,364$27,843$27,337$26,846$25,885
3 years$19,077$18,536$18,016$17,515$17,032$16,097
4 years$14,165$13,626$13,111$12,619$12,148$11,245
5 years$11,219$10,683$10,175$9,692$9,234$8,368
6 years$9,255$8,724$8,223$7,751$7,307$6,477
7 years$7,853$7,326$6,833$6,373$5,942$5,149
8 years$6,802$6,280$5,795$5,346$4,930$4,173
9 years$5,985$5,468$4,991$4,553$4,152$3,431
10 years$5,332$4,819$4,351$3,925$3,537$2,852
11 years$4,798$4,291$3,831$3,416$3,042$2,392
12 years$4,353$3,851$3,400$2,996$2,636$2,020
13 years$3,977$3,480$3,038$2,645$2,299$1,715
14 years$3,655$3,163$2,729$2,348$2,015$1,464
15 years$3,376$2,890$2,464$2,094$1,774$1,254
16 years$3,132$2,651$2,234$1,875$1,568$1,078
17 years$2,917$2,442$2,033$1,685$1,390$929
18 years$2,727$2,256$1,856$1,518$1,236$802
19 years$2,556$2,091$1,699$1,372$1,102$694
20 years$2,403$1,943$1,559$1,243$984$602
21 years$2,264$1,810$1,434$1,128$881$522
22 years$2,139$1,690$1,322$1,025$790$454
23 years$2,024$1,580$1,220$934$709$395
24 years$1,919$1,481$1,129$852$637$344
25 years$1,823$1,389$1,045$778$573$300
26 years$1,734$1,306$970$711$516$262
27 years$1,652$1,229$900$651$466$228
28 years$1,576$1,158$837$596$420$199
29 years$1,505$1,092$779$547$379$174
30 years$1,439$1,032$725$502$343$152
31 years$1,378$975$676$461$310$133
32 years$1,320$923$631$424$280$116
33 years$1,266$874$589$390$254$102
34 years$1,215$828$551$358$230$89
35 years$1,168$786$515$330$208$78
36 years$1,123$746$481$304$188$68
37 years$1,080$708$451$280$171$60
38 years$1,040$673$422$258$155$52
39 years$1,003$640$395$238$140$46
40 years$967$609$371$219$127$40
41 years$932$580$348$203$116$35
42 years$900$552$326$187$105$31
43 years$869$526$306$173$95$27
44 years$840$501$287$159$86$24
45 years$812$478$270$147$78$21
46 years$785$456$253$136$71$18
47 years$760$435$238$126$65$16
48 years$736$415$224$116$59$14
49 years$713$397$210$107$53$12
50 years$690$379$198$99$48$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $707,000, adding $2,191 every year, while hoping to spend $29,969 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: 68/16/16 Blend
59$707,000$707,000$707,000$707,000
60$781,374$743,903$732,945$831,400
61$829,187$748,467$725,611$869,602
62$880,873$752,251$717,028$907,632
63$936,795$755,184$707,121$948,477
64$997,352$757,192$695,814$992,412
65$1,062,984$758,196$683,025$1,039,738
66$1,134,173$758,112$668,671$1,090,791
67$1,211,450$756,852$652,663$1,145,937
68$1,295,399$754,319$634,909$1,205,585
69$1,386,664$750,414$615,312$1,270,182
70$1,485,950$745,031$593,772$1,340,224
71$1,594,036$738,056$570,182$1,416,257
72$1,711,776$729,370$544,432$1,498,884
73$1,840,114$718,845$516,407$1,588,771
74$1,980,084$706,348$485,985$1,686,652
75$2,132,828$691,734$453,041$1,793,336
76$2,299,602$674,854$417,443$1,909,718
77$2,481,787$655,548$379,053$2,036,783
78$2,680,905$633,646$337,727$2,175,621
79$2,898,632$608,969$293,315$2,327,431
80$3,136,811$581,327$245,660$2,493,538
81$3,397,474$550,520$194,598$2,675,404
82$3,682,856$516,336$139,957$2,874,640
83$3,995,422$478,550$81,560$3,093,024
84$4,337,881$436,926$19,219$3,332,519
85$4,713,222$391,212$0$3,595,288
86$5,124,733$341,144$0$3,891,795
87$5,576,037$286,441$0$4,220,622
88$6,071,125$226,809$0$4,581,426
89$6,614,391$161,934$0$4,977,447
90$7,210,676$91,486$0$5,412,257
91$7,865,314$15,117$0$5,889,794
92$8,584,178$0$0$6,414,398
93$9,373,739$0$0$7,002,743
94$10,241,125$0$0$7,652,049
95$11,194,189$0$0$8,365,537
96$12,241,583$0$0$9,149,689
97$13,392,837$0$0$10,011,647
98$14,658,451$0$0$10,959,279
99$16,049,994$0$0$12,001,252
100$17,580,210$0$0$13,147,117