Can I retire at age 60 with 716,000?

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 $716,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$59,127$58,600$58,086$57,585$57,095$56,265
2 years$29,271$28,725$28,197$27,685$27,188$26,354
3 years$19,320$18,772$18,245$17,738$17,249$16,436
4 years$14,346$13,800$13,278$12,779$12,302$11,517
5 years$11,362$10,819$10,304$9,816$9,352$8,597
6 years$9,373$8,835$8,327$7,850$7,400$6,676
7 years$7,953$7,419$6,920$6,454$6,018$5,325
8 years$6,889$6,360$5,869$5,414$4,993$4,330
9 years$6,061$5,537$5,055$4,611$4,204$3,573
10 years$5,400$4,881$4,407$3,975$3,582$2,981
11 years$4,859$4,345$3,880$3,459$3,081$2,510
12 years$4,408$3,900$3,443$3,034$2,670$2,127
13 years$4,028$3,524$3,076$2,679$2,328$1,814
14 years$3,701$3,204$2,764$2,378$2,041$1,554
15 years$3,419$2,927$2,496$2,121$1,797$1,337
16 years$3,172$2,685$2,263$1,899$1,588$1,154
17 years$2,955$2,473$2,059$1,706$1,408$998
18 years$2,761$2,285$1,879$1,538$1,252$866
19 years$2,589$2,118$1,721$1,389$1,116$753
20 years$2,433$1,968$1,579$1,258$997$656
21 years$2,293$1,833$1,452$1,142$892$572
22 years$2,166$1,711$1,339$1,038$800$499
23 years$2,050$1,600$1,236$946$718$436
24 years$1,944$1,499$1,143$862$645$382
25 years$1,846$1,407$1,059$788$581$334
26 years$1,756$1,322$982$720$523$293
27 years$1,673$1,245$912$659$471$257
28 years$1,596$1,173$848$604$425$226
29 years$1,524$1,106$789$554$384$198
30 years$1,457$1,045$735$508$347$174
31 years$1,395$988$685$467$314$153
32 years$1,337$935$639$429$284$134
33 years$1,282$885$597$395$257$118
34 years$1,231$839$558$363$233$104
35 years$1,183$796$521$334$211$91
36 years$1,137$755$488$308$191$80
37 years$1,094$717$456$284$173$71
38 years$1,054$682$427$261$157$62
39 years$1,015$648$400$241$142$55
40 years$979$617$375$222$129$48
41 years$944$587$352$205$117$42
42 years$912$559$330$189$106$37
43 years$880$533$310$175$96$33
44 years$851$508$291$161$87$29
45 years$822$484$273$149$79$26
46 years$795$462$256$138$72$22
47 years$770$441$241$127$65$20
48 years$745$421$226$117$59$17
49 years$722$402$213$109$54$15
50 years$699$384$200$100$49$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $716,000, adding $4,989 every year, while hoping to spend $39,968 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: 47/28/25 Blend
59$716,000$716,000$716,000$716,000
60$794,178$756,230$745,132$825,620
61$832,659$750,760$727,568$842,744
62$873,725$743,682$708,077$856,993
63$917,598$734,875$686,550$871,664
64$964,520$724,212$662,878$886,819
65$1,014,759$711,556$636,942$902,524
66$1,068,606$696,763$608,620$918,857
67$1,126,380$679,682$577,786$935,906
68$1,188,434$660,149$544,305$953,772
69$1,255,154$637,995$508,038$972,568
70$1,326,961$613,039$468,840$992,422
71$1,404,323$585,090$426,557$1,013,480
72$1,487,748$553,944$381,031$1,035,907
73$1,577,799$519,388$332,097$1,059,886
74$1,675,092$481,194$279,579$1,085,627
75$1,780,303$439,125$223,297$1,113,362
76$1,894,178$392,927$163,062$1,143,355
77$2,017,536$342,331$98,675$1,175,899
78$2,151,276$287,057$29,932$1,211,326
79$2,296,387$226,804$0$1,250,003
80$2,453,959$161,258$0$1,303,930
81$2,625,189$90,085$0$1,371,257
82$2,811,393$12,934$0$1,444,570
83$3,014,020$0$0$1,524,509
84$3,234,666$0$0$1,633,527
85$3,475,083$0$0$1,756,731
86$3,737,203$0$0$1,891,134
87$4,023,151$0$0$2,037,836
88$4,335,265$0$0$2,198,046
89$4,676,120$0$0$2,373,097
90$5,048,550$0$0$2,564,454
91$5,455,676$0$0$2,773,733
92$5,900,931$0$0$3,002,712
93$6,388,099$0$0$3,253,346
94$6,921,343$0$0$3,527,793
95$7,505,252$0$0$3,828,426
96$8,144,873$0$0$4,157,858
97$8,845,770$0$0$4,518,968
98$9,614,067$0$0$4,914,928
99$10,456,510$0$0$5,349,228
100$11,380,530$0$0$5,825,717