Can I retire at age 60 with 707,000?

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 $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%12.8%
1 years$58,383$57,863$57,356$56,861$56,377$55,719
2 years$28,903$28,364$27,843$27,337$26,846$26,184
3 years$19,077$18,536$18,016$17,515$17,032$16,386
4 years$14,165$13,626$13,111$12,619$12,148$11,523
5 years$11,219$10,683$10,175$9,692$9,234$8,632
6 years$9,255$8,724$8,223$7,751$7,307$6,729
7 years$7,853$7,326$6,833$6,373$5,942$5,388
8 years$6,802$6,280$5,795$5,346$4,930$4,400
9 years$5,985$5,468$4,991$4,553$4,152$3,645
10 years$5,332$4,819$4,351$3,925$3,537$3,054
11 years$4,798$4,291$3,831$3,416$3,042$2,582
12 years$4,353$3,851$3,400$2,996$2,636$2,199
13 years$3,977$3,480$3,038$2,645$2,299$1,884
14 years$3,655$3,163$2,729$2,348$2,015$1,621
15 years$3,376$2,890$2,464$2,094$1,774$1,401
16 years$3,132$2,651$2,234$1,875$1,568$1,215
17 years$2,917$2,442$2,033$1,685$1,390$1,057
18 years$2,727$2,256$1,856$1,518$1,236$921
19 years$2,556$2,091$1,699$1,372$1,102$805
20 years$2,403$1,943$1,559$1,243$984$705
21 years$2,264$1,810$1,434$1,128$881$618
22 years$2,139$1,690$1,322$1,025$790$542
23 years$2,024$1,580$1,220$934$709$477
24 years$1,919$1,481$1,129$852$637$419
25 years$1,823$1,389$1,045$778$573$369
26 years$1,734$1,306$970$711$516$326
27 years$1,652$1,229$900$651$466$287
28 years$1,576$1,158$837$596$420$253
29 years$1,505$1,092$779$547$379$224
30 years$1,439$1,032$725$502$343$198
31 years$1,378$975$676$461$310$175
32 years$1,320$923$631$424$280$154
33 years$1,266$874$589$390$254$137
34 years$1,215$828$551$358$230$121
35 years$1,168$786$515$330$208$107
36 years$1,123$746$481$304$188$95
37 years$1,080$708$451$280$171$84
38 years$1,040$673$422$258$155$74
39 years$1,003$640$395$238$140$66
40 years$967$609$371$219$127$58
41 years$932$580$348$203$116$51
42 years$900$552$326$187$105$46
43 years$869$526$306$173$95$40
44 years$840$501$287$159$86$36
45 years$812$478$270$147$78$32
46 years$785$456$253$136$71$28
47 years$760$435$238$126$65$25
48 years$736$415$224$116$59$22
49 years$713$397$210$107$53$20
50 years$690$379$198$99$48$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $707,000, adding $6,374 every year, while hoping to spend $26,496 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: 55/34/11 Blend
59$707,000$707,000$707,000$707,000
60$785,689$748,218$737,259$826,378
61$837,637$756,689$733,766$863,146
62$893,997$764,687$729,268$899,715
63$955,189$772,161$723,702$938,906
64$1,021,678$779,057$717,006$980,975
65$1,093,974$785,315$709,111$1,026,203
66$1,172,639$790,875$699,945$1,074,900
67$1,258,291$795,671$689,436$1,127,408
68$1,351,609$799,632$677,505$1,184,107
69$1,453,343$802,683$664,071$1,245,413
70$1,564,316$804,746$649,049$1,311,789
71$1,685,433$805,736$632,350$1,383,743
72$1,817,694$805,564$613,880$1,461,837
73$1,962,197$804,134$593,543$1,546,694
74$2,120,150$801,346$571,236$1,638,997
75$2,292,885$797,092$546,852$1,739,504
76$2,481,868$791,259$520,281$1,849,051
77$2,688,714$783,726$491,405$1,968,558
78$2,915,200$774,365$460,104$2,099,046
79$3,163,282$763,041$426,249$2,241,636
80$3,435,117$749,610$389,709$2,397,569
81$3,733,078$733,920$350,343$2,568,214
82$4,059,780$715,810$308,008$2,755,083
83$4,418,102$695,109$262,551$2,959,841
84$4,811,216$671,637$213,814$3,184,330
85$5,242,616$645,203$161,632$3,430,579
86$5,716,149$615,604$105,833$3,700,830
87$6,236,054$582,627$46,236$3,997,555
88$6,807,000$546,044$0$4,323,482
89$7,434,132$505,618$0$4,683,659
90$8,123,114$461,094$0$5,085,293
91$8,880,190$412,206$0$5,526,639
92$9,712,236$358,670$0$6,011,764
93$10,626,828$300,189$0$6,545,154
94$11,632,312$236,447$0$7,131,754
95$12,737,885$167,109$0$7,777,020
96$13,953,677$91,825$0$8,486,966
97$15,290,851$10,223$0$9,268,224
98$16,761,704$0$0$10,128,110
99$18,379,786$0$0$11,103,903
100$20,160,027$0$0$12,181,770