Can I retire at age 60 with 714,000?

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 $714,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$58,961$58,436$57,924$57,424$56,935$56,506
2 years$29,189$28,645$28,118$27,608$27,112$26,679
3 years$19,266$18,720$18,194$17,688$17,201$16,778
4 years$14,305$13,761$13,241$12,744$12,268$11,858
5 years$11,330$10,789$10,275$9,788$9,326$8,930
6 years$9,347$8,810$8,304$7,828$7,379$6,998
7 years$7,931$7,399$6,901$6,436$6,001$5,635
8 years$6,870$6,342$5,852$5,399$4,979$4,628
9 years$6,044$5,522$5,041$4,598$4,193$3,857
10 years$5,385$4,867$4,395$3,964$3,572$3,251
11 years$4,845$4,333$3,869$3,450$3,072$2,766
12 years$4,396$3,889$3,434$3,026$2,662$2,370
13 years$4,016$3,515$3,068$2,671$2,322$2,043
14 years$3,691$3,195$2,756$2,371$2,035$1,770
15 years$3,409$2,918$2,489$2,115$1,792$1,540
16 years$3,163$2,678$2,256$1,894$1,584$1,345
17 years$2,946$2,466$2,053$1,701$1,404$1,178
18 years$2,754$2,279$1,874$1,533$1,249$1,034
19 years$2,581$2,112$1,716$1,385$1,113$910
20 years$2,427$1,962$1,575$1,255$994$803
21 years$2,287$1,828$1,448$1,139$890$709
22 years$2,160$1,706$1,335$1,035$797$627
23 years$2,044$1,596$1,233$943$716$555
24 years$1,938$1,495$1,140$860$643$492
25 years$1,841$1,403$1,056$785$579$437
26 years$1,751$1,319$979$718$521$388
27 years$1,668$1,241$909$657$470$345
28 years$1,591$1,169$845$602$424$307
29 years$1,520$1,103$787$552$383$273
30 years$1,453$1,042$733$507$346$243
31 years$1,391$985$683$466$313$217
32 years$1,333$932$637$428$283$193
33 years$1,279$883$595$393$256$172
34 years$1,227$837$556$362$232$154
35 years$1,179$793$520$333$210$137
36 years$1,134$753$486$307$190$122
37 years$1,091$715$455$283$173$109
38 years$1,051$680$426$261$156$98
39 years$1,012$646$399$240$142$87
40 years$976$615$374$222$129$78
41 years$942$585$351$205$117$70
42 years$909$557$329$189$106$62
43 years$878$531$309$174$96$56
44 years$848$506$290$161$87$50
45 years$820$483$272$149$79$44
46 years$793$461$256$137$72$40
47 years$768$440$240$127$65$35
48 years$743$420$226$117$59$32
49 years$720$401$212$108$54$28
50 years$697$383$200$100$49$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $714,000, adding $5,498 every year, while hoping to spend $36,335 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: 70/16/14 Blend
59$714,000$714,000$714,000$714,000
60$792,499$754,657$743,590$845,110
61$834,674$752,975$729,840$879,092
62$879,933$749,993$714,412$911,374
63$928,552$745,609$697,211$945,760
64$980,834$739,714$678,137$982,450
65$1,037,113$732,193$657,089$1,021,668
66$1,097,753$722,926$633,956$1,063,659
67$1,163,157$711,782$608,627$1,108,695
68$1,233,765$698,625$580,982$1,157,078
69$1,310,062$683,311$550,897$1,209,137
70$1,392,581$665,685$518,245$1,265,240
71$1,481,907$645,586$482,888$1,325,792
72$1,578,683$622,842$444,687$1,391,239
73$1,683,617$597,270$403,493$1,462,077
74$1,797,488$568,678$359,152$1,538,851
75$1,921,151$536,863$311,503$1,622,164
76$2,055,548$501,609$260,378$1,712,681
77$2,201,715$462,688$205,601$1,811,138
78$2,360,790$419,860$146,988$1,918,348
79$2,534,027$372,870$84,349$2,035,206
80$2,722,806$321,449$17,484$2,162,704
81$2,928,646$265,313$0$2,301,934
82$3,153,217$204,162$0$2,462,153
83$3,398,358$137,679$0$2,639,954
84$3,666,095$65,530$0$2,834,230
85$3,958,655$0$0$3,046,640
86$4,278,493$0$0$3,281,239
87$4,628,310$0$0$3,550,484
88$5,011,081$0$0$3,845,130
89$5,430,081$0$0$4,167,703
90$5,888,916$0$0$4,520,986
91$6,391,560$0$0$4,908,041
92$6,942,386$0$0$5,332,242
93$7,546,210$0$0$5,797,304
94$8,208,339$0$0$6,307,319
95$8,934,617$0$0$6,866,795
96$9,731,479$0$0$7,480,696
97$10,606,016$0$0$8,154,489
98$11,566,035$0$0$8,894,198
99$12,620,141$0$0$9,706,457
100$13,777,807$0$0$10,598,577