Can I retire at age 60 with 714,000?

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 $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%12.2%
1 years$58,961$58,436$57,924$57,424$56,935$56,411
2 years$29,189$28,645$28,118$27,608$27,112$26,584
3 years$19,266$18,720$18,194$17,688$17,201$16,685
4 years$14,305$13,761$13,241$12,744$12,268$11,769
5 years$11,330$10,789$10,275$9,788$9,326$8,844
6 years$9,347$8,810$8,304$7,828$7,379$6,916
7 years$7,931$7,399$6,901$6,436$6,001$5,557
8 years$6,870$6,342$5,852$5,399$4,979$4,553
9 years$6,044$5,522$5,041$4,598$4,193$3,786
10 years$5,385$4,867$4,395$3,964$3,572$3,184
11 years$4,845$4,333$3,869$3,450$3,072$2,702
12 years$4,396$3,889$3,434$3,026$2,662$2,309
13 years$4,016$3,515$3,068$2,671$2,322$1,986
14 years$3,691$3,195$2,756$2,371$2,035$1,716
15 years$3,409$2,918$2,489$2,115$1,792$1,489
16 years$3,163$2,678$2,256$1,894$1,584$1,297
17 years$2,946$2,466$2,053$1,701$1,404$1,132
18 years$2,754$2,279$1,874$1,533$1,249$992
19 years$2,581$2,112$1,716$1,385$1,113$870
20 years$2,427$1,962$1,575$1,255$994$765
21 years$2,287$1,828$1,448$1,139$890$674
22 years$2,160$1,706$1,335$1,035$797$594
23 years$2,044$1,596$1,233$943$716$525
24 years$1,938$1,495$1,140$860$643$464
25 years$1,841$1,403$1,056$785$579$410
26 years$1,751$1,319$979$718$521$363
27 years$1,668$1,241$909$657$470$322
28 years$1,591$1,169$845$602$424$285
29 years$1,520$1,103$787$552$383$253
30 years$1,453$1,042$733$507$346$225
31 years$1,391$985$683$466$313$200
32 years$1,333$932$637$428$283$177
33 years$1,279$883$595$393$256$158
34 years$1,227$837$556$362$232$140
35 years$1,179$793$520$333$210$125
36 years$1,134$753$486$307$190$111
37 years$1,091$715$455$283$173$99
38 years$1,051$680$426$261$156$88
39 years$1,012$646$399$240$142$78
40 years$976$615$374$222$129$70
41 years$942$585$351$205$117$62
42 years$909$557$329$189$106$55
43 years$878$531$309$174$96$49
44 years$848$506$290$161$87$44
45 years$820$483$272$149$79$39
46 years$793$461$256$137$72$35
47 years$768$440$240$127$65$31
48 years$743$420$226$117$59$28
49 years$720$401$212$108$54$25
50 years$697$383$200$100$49$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $714,000, adding $5,916 every year, while hoping to spend $38,213 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: 30/41/29 Blend
59$714,000$714,000$714,000$714,000
60$792,930$755,088$744,021$809,524
61$833,151$751,429$728,288$819,357
62$876,193$746,310$710,746$826,205
63$922,305$739,619$691,296$832,822
64$971,757$731,238$669,832$839,215
65$1,024,848$721,040$646,243$845,396
66$1,081,904$708,893$620,413$851,380
67$1,143,284$694,654$592,223$857,190
68$1,209,383$678,176$561,546$862,854
69$1,280,632$659,299$528,250$868,407
70$1,357,507$637,855$492,197$873,892
71$1,440,530$613,667$453,243$879,364
72$1,530,275$586,548$411,238$884,886
73$1,627,373$556,299$366,024$890,535
74$1,732,517$522,709$317,438$896,398
75$1,846,468$485,557$265,307$902,583
76$1,970,066$444,607$209,452$909,211
77$2,104,231$399,611$149,687$916,425
78$2,249,977$350,306$85,816$924,387
79$2,408,419$296,416$17,636$933,287
80$2,580,785$237,647$0$943,340
81$2,768,423$173,690$0$971,850
82$2,972,818$104,217$0$1,008,974
83$3,195,606$28,883$0$1,049,640
84$3,438,583$0$0$1,094,284
85$3,703,731$0$0$1,167,161
86$3,993,228$0$0$1,261,064
87$4,309,473$0$0$1,363,753
88$4,655,106$0$0$1,476,099
89$5,033,035$0$0$1,599,062
90$5,446,460$0$0$1,733,697
91$5,898,906$0$0$1,881,168
92$6,394,255$0$0$2,042,757
93$6,936,780$0$0$2,219,873
94$7,531,186$0$0$2,414,071
95$8,182,659$0$0$2,627,062
96$8,896,905$0$0$2,860,731
97$9,680,212$0$0$3,117,154
98$10,539,505$0$0$3,398,618
99$11,482,411$0$0$3,707,641
100$12,517,331$0$0$4,047,000