Can I retire at age 60 with 717,000?

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 $717,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$59,209$58,682$58,167$57,665$57,175$55,124
2 years$29,311$28,766$28,237$27,724$27,226$25,182
3 years$19,347$18,799$18,271$17,763$17,273$15,301
4 years$14,366$13,819$13,297$12,797$12,319$10,433
5 years$11,378$10,834$10,319$9,829$9,365$7,570
6 years$9,386$8,847$8,339$7,861$7,410$5,707
7 years$7,964$7,430$6,930$6,463$6,027$4,416
8 years$6,898$6,369$5,877$5,421$5,000$3,479
9 years$6,070$5,545$5,062$4,618$4,210$2,779
10 years$5,407$4,888$4,413$3,981$3,587$2,242
11 years$4,866$4,351$3,885$3,464$3,085$1,823
12 years$4,415$3,905$3,448$3,039$2,674$1,492
13 years$4,033$3,529$3,081$2,683$2,331$1,227
14 years$3,707$3,208$2,768$2,381$2,044$1,013
15 years$3,424$2,931$2,499$2,124$1,800$839
16 years$3,177$2,689$2,266$1,902$1,590$697
17 years$2,959$2,476$2,062$1,709$1,410$580
18 years$2,765$2,288$1,882$1,540$1,254$483
19 years$2,592$2,121$1,723$1,391$1,118$404
20 years$2,437$1,971$1,581$1,260$998$337
21 years$2,296$1,836$1,454$1,144$893$282
22 years$2,169$1,713$1,340$1,040$801$236
23 years$2,053$1,603$1,238$947$719$198
24 years$1,946$1,501$1,145$864$646$166
25 years$1,849$1,409$1,060$789$581$139
26 years$1,758$1,324$983$721$524$117
27 years$1,675$1,246$913$660$472$98
28 years$1,598$1,174$849$605$426$82
29 years$1,526$1,108$790$555$385$69
30 years$1,460$1,046$736$509$348$58
31 years$1,397$989$686$468$314$49
32 years$1,339$936$640$430$284$41
33 years$1,284$886$598$395$257$35
34 years$1,233$840$558$364$233$29
35 years$1,184$797$522$335$211$24
36 years$1,139$756$488$308$191$21
37 years$1,096$718$457$284$173$17
38 years$1,055$683$428$262$157$15
39 years$1,017$649$401$241$142$12
40 years$980$618$376$223$129$10
41 years$946$588$352$205$117$9
42 years$913$560$331$190$106$7
43 years$882$533$310$175$97$6
44 years$852$508$291$162$88$5
45 years$824$485$273$149$80$4
46 years$797$463$257$138$72$4
47 years$771$441$241$127$66$3
48 years$746$421$227$118$60$3
49 years$723$402$213$109$54$2
50 years$700$384$200$101$49$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $717,000, adding $5,627 every year, while hoping to spend $31,376 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: 61/15/24 Blend
59$717,000$717,000$717,000$717,000
60$795,938$757,937$746,824$839,099
61$843,740$761,692$738,459$872,789
62$895,366$764,580$728,761$905,624
63$951,173$766,524$717,655$940,774
64$1,011,554$767,445$705,057$978,470
65$1,076,940$767,256$690,884$1,018,968
66$1,147,804$765,868$675,045$1,062,550
67$1,224,668$763,184$657,447$1,109,527
68$1,308,106$759,102$637,993$1,160,247
69$1,398,748$753,513$616,581$1,215,089
70$1,497,288$746,303$593,104$1,274,476
71$1,604,488$737,349$567,450$1,338,874
72$1,721,189$726,522$539,503$1,408,799
73$1,848,315$713,686$509,141$1,484,819
74$1,986,881$698,695$476,235$1,567,564
75$2,138,008$681,396$440,654$1,657,729
76$2,302,926$661,626$402,257$1,756,081
77$2,482,991$639,212$360,899$1,863,469
78$2,679,696$613,973$316,429$1,980,830
79$2,894,683$585,716$268,687$2,109,199
80$3,129,760$554,236$217,508$2,249,718
81$3,386,920$519,318$162,719$2,403,649
82$3,668,355$480,733$104,139$2,572,385
83$3,976,480$438,241$41,580$2,757,466
84$4,313,952$391,587$0$2,960,589
85$4,683,701$340,500$0$3,190,078
86$5,088,950$284,696$0$3,453,337
87$5,533,252$223,875$0$3,742,046
88$6,020,517$157,718$0$4,058,784
89$6,555,053$85,890$0$4,406,394
90$7,141,606$8,036$0$4,788,009
91$7,785,403$0$0$5,207,084
92$8,492,200$0$0$5,680,007
93$9,268,340$0$0$6,200,842
94$10,120,810$0$0$6,772,960
95$11,057,305$0$0$7,401,531
96$12,086,304$0$0$8,092,256
97$13,217,148$0$0$8,851,411
98$14,460,125$0$0$9,685,912
99$15,826,574$0$0$10,603,380
100$17,328,983$0$0$11,612,210