Can I retire at age 60 with 708,000?

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 $708,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$58,466$57,945$57,437$56,941$56,457$56,007
2 years$28,944$28,405$27,882$27,376$26,884$26,431
3 years$19,104$18,563$18,042$17,540$17,056$16,614
4 years$14,185$13,646$13,130$12,636$12,165$11,736
5 years$11,235$10,698$10,189$9,706$9,248$8,834
6 years$9,268$8,736$8,234$7,762$7,317$6,919
7 years$7,864$7,336$6,843$6,382$5,951$5,568
8 years$6,812$6,289$5,803$5,353$4,937$4,570
9 years$5,994$5,475$4,998$4,560$4,158$3,807
10 years$5,339$4,826$4,358$3,931$3,542$3,207
11 years$4,805$4,297$3,836$3,421$3,047$2,726
12 years$4,359$3,856$3,405$3,001$2,640$2,335
13 years$3,983$3,485$3,042$2,649$2,302$2,012
14 years$3,660$3,168$2,733$2,351$2,018$1,742
15 years$3,381$2,894$2,468$2,097$1,777$1,514
16 years$3,137$2,655$2,237$1,878$1,570$1,322
17 years$2,922$2,445$2,036$1,687$1,392$1,157
18 years$2,730$2,259$1,858$1,520$1,238$1,015
19 years$2,560$2,094$1,701$1,374$1,104$892
20 years$2,406$1,946$1,561$1,244$986$786
21 years$2,268$1,813$1,436$1,129$882$694
22 years$2,142$1,692$1,324$1,027$791$613
23 years$2,027$1,582$1,222$935$710$543
24 years$1,922$1,483$1,130$853$638$481
25 years$1,825$1,391$1,047$779$574$427
26 years$1,736$1,308$971$712$517$379
27 years$1,654$1,231$902$652$466$336
28 years$1,578$1,160$838$597$421$299
29 years$1,507$1,094$780$548$380$266
30 years$1,441$1,033$727$503$343$237
31 years$1,380$977$677$462$310$211
32 years$1,322$924$632$424$281$188
33 years$1,268$875$590$390$254$167
34 years$1,217$829$551$359$230$149
35 years$1,169$787$515$330$208$133
36 years$1,124$747$482$304$189$118
37 years$1,082$709$451$280$171$106
38 years$1,042$674$423$258$155$94
39 years$1,004$641$396$238$141$84
40 years$968$610$371$220$128$75
41 years$934$580$348$203$116$67
42 years$901$553$326$187$105$60
43 years$871$527$306$173$95$53
44 years$841$502$288$160$87$48
45 years$813$479$270$147$79$43
46 years$787$457$254$136$71$38
47 years$761$436$238$126$65$34
48 years$737$416$224$116$59$30
49 years$714$397$210$107$53$27
50 years$691$380$198$99$49$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $708,000, adding $5,679 every year, while hoping to spend $58,114 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: 74/19/7 Blend
59$708,000$708,000$708,000$708,000
60$786,074$748,550$737,576$843,071
61$804,421$723,396$700,452$856,231
62$822,691$695,062$660,136$862,736
63$840,816$663,330$616,461$868,207
64$858,717$627,971$569,251$872,523
65$876,306$588,742$518,321$875,550
66$893,485$545,386$463,480$877,142
67$910,141$497,631$404,527$877,140
68$926,150$445,189$341,254$875,370
69$941,372$387,758$273,441$871,642
70$955,651$325,017$200,859$865,747
71$968,811$256,627$123,272$857,459
72$980,658$182,229$40,429$846,530
73$990,973$101,446$0$832,687
74$999,514$13,879$0$819,219
75$1,006,012$0$0$805,671
76$1,010,165$0$0$805,602
77$1,011,641$0$0$806,233
78$1,010,069$0$0$804,360
79$1,005,035$0$0$799,647
80$996,085$0$0$791,720
81$982,711$0$0$780,166
82$964,350$0$0$764,525
83$940,381$0$0$744,289
84$910,114$0$0$718,896
85$872,785$0$0$687,721
86$827,548$0$0$650,075
87$773,467$0$0$605,193
88$709,508$0$0$552,231
89$634,526$0$0$490,254
90$547,253$0$0$418,228
91$446,291$0$0$335,012
92$330,092$0$0$239,343
93$196,947$0$0$129,825
94$44,966$0$0$4,918
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0