Can I retire at age 60 with 715,000?

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 $715,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$59,044$58,518$58,005$57,504$57,015$56,775
2 years$29,230$28,685$28,158$27,646$27,150$26,908
3 years$19,293$18,746$18,220$17,713$17,225$16,988
4 years$14,325$13,780$13,259$12,761$12,285$12,055
5 years$11,346$10,804$10,290$9,802$9,339$9,116
6 years$9,360$8,822$8,316$7,839$7,390$7,175
7 years$7,942$7,409$6,910$6,445$6,010$5,803
8 years$6,879$6,351$5,861$5,406$4,986$4,787
9 years$6,053$5,530$5,048$4,605$4,199$4,008
10 years$5,392$4,874$4,401$3,969$3,577$3,395
11 years$4,852$4,339$3,874$3,455$3,077$2,902
12 years$4,402$3,895$3,438$3,030$2,666$2,500
13 years$4,022$3,519$3,072$2,675$2,325$2,166
14 years$3,696$3,199$2,760$2,375$2,038$1,887
15 years$3,414$2,922$2,492$2,118$1,794$1,650
16 years$3,168$2,681$2,259$1,896$1,586$1,449
17 years$2,950$2,469$2,056$1,704$1,406$1,276
18 years$2,757$2,282$1,877$1,535$1,250$1,127
19 years$2,585$2,115$1,718$1,387$1,114$997
20 years$2,430$1,965$1,577$1,257$995$884
21 years$2,290$1,830$1,450$1,140$891$786
22 years$2,163$1,709$1,337$1,037$799$699
23 years$2,047$1,598$1,234$944$717$623
24 years$1,941$1,497$1,141$861$644$556
25 years$1,843$1,405$1,057$787$580$496
26 years$1,754$1,321$981$719$522$444
27 years$1,671$1,243$911$658$471$397
28 years$1,594$1,171$846$603$425$355
29 years$1,522$1,105$788$553$384$318
30 years$1,455$1,043$734$508$347$285
31 years$1,393$986$684$466$313$256
32 years$1,335$933$638$428$283$230
33 years$1,280$884$596$394$257$206
34 years$1,229$838$557$363$232$185
35 years$1,181$795$521$334$210$166
36 years$1,136$754$487$307$191$149
37 years$1,093$716$456$283$173$134
38 years$1,052$681$427$261$157$121
39 years$1,014$647$400$241$142$109
40 years$978$616$375$222$129$98
41 years$943$586$351$205$117$88
42 years$910$558$330$189$106$79
43 years$879$532$309$174$96$71
44 years$850$507$290$161$87$64
45 years$821$484$273$149$79$58
46 years$794$461$256$137$72$52
47 years$769$440$241$127$65$47
48 years$744$420$226$117$59$42
49 years$721$401$213$108$54$38
50 years$698$383$200$100$49$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $715,000, adding $2,706 every year, while hoping to spend $21,833 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: 46/36/18 Blend
59$715,000$715,000$715,000$715,000
60$790,721$752,826$741,744$822,919
61$848,145$766,485$743,362$859,324
62$910,694$780,080$744,303$896,392
63$978,868$793,588$744,520$936,146
64$1,053,217$806,978$743,966$978,844
65$1,134,347$820,222$742,591$1,024,772
66$1,222,923$833,286$740,341$1,074,247
67$1,319,680$846,136$737,161$1,127,616
68$1,425,425$858,734$732,993$1,185,265
69$1,541,046$871,040$727,777$1,247,616
70$1,667,523$883,011$721,448$1,315,140
71$1,805,934$894,602$713,939$1,388,351
72$1,957,464$905,762$705,181$1,467,821
73$2,123,421$916,440$695,101$1,554,178
74$2,305,244$926,580$683,621$1,648,116
75$2,504,518$936,122$670,661$1,750,402
76$2,722,989$945,001$656,138$1,861,880
77$2,962,578$953,151$639,963$1,983,483
78$3,225,403$960,497$622,044$2,116,241
79$3,513,797$966,964$602,285$2,261,287
80$3,830,328$972,469$580,585$2,419,876
81$4,177,826$976,925$556,840$2,593,388
82$4,559,409$980,238$530,938$2,783,348
83$4,978,509$982,311$502,765$2,991,439
84$5,438,910$983,037$472,200$3,219,516
85$5,944,778$982,305$439,118$3,469,625
86$6,500,704$979,997$403,388$3,744,026
87$7,111,746$975,987$364,872$4,045,208
88$7,783,476$970,142$323,426$4,375,919
89$8,522,031$962,319$278,902$4,739,190
90$9,334,175$952,370$231,142$5,138,363
91$10,227,359$940,134$179,983$5,577,125
92$11,209,792$925,444$125,255$6,059,543
93$12,290,520$908,119$66,780$6,590,100
94$13,479,508$887,972$4,372$7,173,743
95$14,787,736$864,801$0$7,815,926
96$16,227,303$838,394$0$8,534,616
97$17,811,540$808,527$0$9,326,167
98$19,555,133$774,961$0$10,197,096
99$21,474,268$737,445$0$11,155,510
100$23,586,777$695,713$0$12,210,349