Can I retire at age 60 with 713,000?

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 $713,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$58,879$58,354$57,843$57,343$56,856$55,594
2 years$29,148$28,605$28,079$27,569$27,074$25,810
3 years$19,239$18,694$18,169$17,664$17,177$15,949
4 years$14,285$13,742$13,222$12,726$12,251$11,069
5 years$11,314$10,774$10,261$9,775$9,313$8,180
6 years$9,334$8,798$8,292$7,817$7,369$6,287
7 years$7,920$7,388$6,891$6,427$5,993$4,962
8 years$6,860$6,333$5,844$5,391$4,972$3,991
9 years$6,036$5,514$5,034$4,592$4,187$3,256
10 years$5,377$4,860$4,388$3,958$3,567$2,685
11 years$4,839$4,327$3,863$3,445$3,068$2,233
12 years$4,390$3,884$3,429$3,022$2,659$1,870
13 years$4,011$3,510$3,063$2,668$2,318$1,575
14 years$3,686$3,190$2,752$2,368$2,032$1,332
15 years$3,405$2,914$2,485$2,112$1,789$1,131
16 years$3,159$2,674$2,253$1,891$1,582$963
17 years$2,942$2,462$2,050$1,699$1,402$822
18 years$2,750$2,275$1,872$1,531$1,247$703
19 years$2,578$2,109$1,713$1,384$1,111$603
20 years$2,423$1,960$1,572$1,253$993$518
21 years$2,284$1,825$1,446$1,137$888$445
22 years$2,157$1,704$1,333$1,034$796$383
23 years$2,041$1,594$1,231$942$715$330
24 years$1,935$1,493$1,138$859$642$284
25 years$1,838$1,401$1,054$784$578$245
26 years$1,749$1,317$978$717$521$212
27 years$1,666$1,239$908$656$469$183
28 years$1,589$1,168$844$601$424$158
29 years$1,518$1,102$785$552$383$137
30 years$1,451$1,040$732$506$346$118
31 years$1,389$984$682$465$312$102
32 years$1,331$931$636$427$283$88
33 years$1,277$881$594$393$256$76
34 years$1,226$835$555$361$232$66
35 years$1,178$792$519$333$210$57
36 years$1,132$752$486$306$190$50
37 years$1,090$714$454$282$172$43
38 years$1,049$679$426$260$156$37
39 years$1,011$645$399$240$142$32
40 years$975$614$374$221$128$28
41 years$940$585$350$204$117$24
42 years$908$557$329$188$106$21
43 years$877$530$308$174$96$18
44 years$847$506$290$161$87$16
45 years$819$482$272$148$79$14
46 years$792$460$255$137$72$12
47 years$766$439$240$127$65$10
48 years$742$419$225$117$59$9
49 years$719$400$212$108$54$8
50 years$696$382$199$100$49$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $713,000, adding $6,835 every year, while hoping to spend $50,008 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: 50/26/24 Blend
59$713,000$713,000$713,000$713,000
60$792,776$754,987$743,936$826,755
61$820,431$738,774$715,650$834,880
62$849,231$720,089$684,740$838,106
63$879,240$698,761$651,065$840,595
64$910,526$674,604$614,480$842,298
65$943,164$647,423$574,829$843,166
66$977,233$617,014$531,952$843,145
67$1,012,820$583,157$485,682$842,183
68$1,050,019$545,622$435,843$840,225
69$1,088,929$504,166$382,252$837,215
70$1,129,660$458,531$324,718$833,094
71$1,172,330$408,443$263,041$827,805
72$1,217,066$353,616$197,012$821,288
73$1,264,009$293,744$126,413$813,481
74$1,313,307$228,508$51,018$804,326
75$1,365,126$157,566$0$793,760
76$1,419,643$80,561$0$789,262
77$1,477,052$0$0$797,664
78$1,537,563$0$0$806,721
79$1,601,407$0$0$840,624
80$1,668,834$0$0$876,461
81$1,740,118$0$0$914,382
82$1,815,555$0$0$954,548
83$1,895,473$0$0$997,140
84$1,980,226$0$0$1,042,350
85$2,070,203$0$0$1,090,392
86$2,165,830$0$0$1,141,498
87$2,267,572$0$0$1,195,923
88$2,375,937$0$0$1,253,947
89$2,491,484$0$0$1,315,875
90$2,614,822$0$0$1,382,041
91$2,746,620$0$0$1,452,812
92$2,887,612$0$0$1,528,590
93$3,038,602$0$0$1,609,817
94$3,200,471$0$0$1,696,977
95$3,374,186$0$0$1,790,600
96$3,560,810$0$0$1,891,269
97$3,761,506$0$0$1,999,624
98$3,977,554$0$0$2,116,369
99$4,210,359$0$0$2,242,273
100$4,461,464$0$0$2,378,187