Can I retire at age 60 with 711,000?

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 $711,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$58,714$58,191$57,680$57,182$56,696$55,214
2 years$29,066$28,525$28,000$27,492$26,998$25,515
3 years$19,185$18,641$18,118$17,614$17,129$15,691
4 years$14,245$13,703$13,185$12,690$12,216$10,835
5 years$11,282$10,744$10,232$9,747$9,287$7,965
6 years$9,308$8,773$8,269$7,795$7,348$6,088
7 years$7,898$7,368$6,872$6,409$5,976$4,778
8 years$6,841$6,315$5,828$5,376$4,958$3,821
9 years$6,019$5,499$5,019$4,579$4,175$3,098
10 years$5,362$4,847$4,376$3,947$3,557$2,539
11 years$4,825$4,315$3,853$3,435$3,060$2,099
12 years$4,378$3,873$3,419$3,013$2,651$1,746
13 years$3,999$3,500$3,055$2,660$2,312$1,460
14 years$3,676$3,181$2,745$2,361$2,027$1,227
15 years$3,395$2,906$2,478$2,106$1,784$1,034
16 years$3,150$2,666$2,247$1,886$1,577$874
17 years$2,934$2,456$2,044$1,694$1,398$741
18 years$2,742$2,269$1,866$1,527$1,243$629
19 years$2,571$2,103$1,709$1,380$1,108$535
20 years$2,416$1,954$1,568$1,250$990$456
21 years$2,277$1,820$1,442$1,134$886$389
22 years$2,151$1,699$1,329$1,031$794$332
23 years$2,035$1,589$1,227$939$713$284
24 years$1,930$1,489$1,135$856$641$243
25 years$1,833$1,397$1,051$782$576$208
26 years$1,744$1,313$975$715$519$178
27 years$1,661$1,236$905$655$468$153
28 years$1,585$1,165$842$600$422$131
29 years$1,514$1,099$783$550$381$112
30 years$1,447$1,038$730$505$345$96
31 years$1,385$981$680$464$312$82
32 years$1,328$928$635$426$282$71
33 years$1,273$879$593$392$255$61
34 years$1,222$833$554$360$231$52
35 years$1,174$790$518$332$209$45
36 years$1,129$750$484$306$190$38
37 years$1,087$712$453$282$172$33
38 years$1,046$677$424$260$156$28
39 years$1,008$644$398$239$141$24
40 years$972$612$373$221$128$21
41 years$938$583$349$204$116$18
42 years$905$555$328$188$105$15
43 years$874$529$308$173$96$13
44 years$845$504$289$160$87$11
45 years$817$481$271$148$79$10
46 years$790$459$255$137$72$8
47 years$764$438$239$126$65$7
48 years$740$418$225$117$59$6
49 years$717$399$211$108$54$5
50 years$694$381$199$100$49$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $711,000, adding $4,314 every year, while hoping to spend $33,184 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: 59/15/26 Blend
59$711,000$711,000$711,000$711,000
60$787,972$750,289$739,268$828,691
61$833,038$751,746$728,726$858,419
62$881,588$752,161$716,719$886,909
63$933,943$751,450$703,162$917,282
64$990,455$749,521$687,968$949,729
65$1,051,510$746,277$671,044$984,461
66$1,117,534$741,614$652,294$1,021,712
67$1,188,994$735,425$631,617$1,061,743
68$1,266,403$727,592$608,908$1,104,840
69$1,350,325$717,994$584,056$1,151,322
70$1,441,383$706,500$556,946$1,201,542
71$1,540,258$692,972$527,458$1,255,888
72$1,647,702$677,266$495,465$1,314,793
73$1,764,541$659,225$460,836$1,378,735
74$1,891,683$638,686$423,434$1,448,241
75$2,030,130$615,477$383,114$1,523,897
76$2,180,981$589,413$339,726$1,606,349
77$2,345,448$560,302$293,114$1,696,311
78$2,524,864$527,937$243,114$1,794,575
79$2,720,697$492,101$189,554$1,902,014
80$2,934,560$452,567$132,256$2,019,595
81$3,168,233$409,090$71,034$2,148,385
82$3,423,672$361,415$5,693$2,289,564
83$3,703,032$309,270$0$2,444,438
84$4,008,687$252,370$0$2,632,211
85$4,343,250$190,412$0$2,839,550
86$4,709,596$123,077$0$3,066,696
87$5,110,894$50,028$0$3,315,653
88$5,550,635$0$0$3,588,634
89$6,032,659$0$0$3,892,880
90$6,561,199$0$0$4,235,599
91$7,140,916$0$0$4,611,563
92$7,776,945$0$0$5,024,110
93$8,474,939$0$0$5,476,914
94$9,241,128$0$0$5,974,026
95$10,082,374$0$0$6,519,904
96$11,006,234$0$0$7,119,463
97$12,021,035$0$0$7,778,114
98$13,135,949$0$0$8,501,820
99$14,361,081$0$0$9,297,151
100$15,707,561$0$0$10,171,341