Can I retire at age 60 with 718,000?

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 $718,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$59,292$58,764$58,248$57,745$57,254$56,870
2 years$29,352$28,806$28,276$27,762$27,264$26,876
3 years$19,374$18,825$18,296$17,788$17,297$16,918
4 years$14,386$13,838$13,315$12,815$12,337$11,969
5 years$11,393$10,849$10,333$9,843$9,378$9,023
6 years$9,399$8,859$8,351$7,872$7,421$7,079
7 years$7,975$7,440$6,939$6,472$6,035$5,707
8 years$6,908$6,377$5,885$5,429$5,007$4,692
9 years$6,078$5,553$5,069$4,624$4,216$3,915
10 years$5,415$4,894$4,419$3,986$3,592$3,304
11 years$4,872$4,357$3,891$3,469$3,090$2,814
12 years$4,421$3,911$3,453$3,043$2,677$2,414
13 years$4,039$3,534$3,085$2,686$2,335$2,084
14 years$3,712$3,213$2,772$2,385$2,047$1,808
15 years$3,429$2,935$2,503$2,127$1,802$1,575
16 years$3,181$2,693$2,269$1,904$1,593$1,377
17 years$2,963$2,480$2,065$1,711$1,412$1,208
18 years$2,769$2,291$1,885$1,542$1,256$1,062
19 years$2,596$2,124$1,725$1,393$1,119$936
20 years$2,440$1,973$1,583$1,262$1,000$827
21 years$2,300$1,838$1,456$1,145$895$731
22 years$2,172$1,716$1,342$1,041$802$648
23 years$2,056$1,605$1,239$948$720$575
24 years$1,949$1,504$1,146$865$647$510
25 years$1,851$1,411$1,062$790$582$454
26 years$1,761$1,326$985$722$524$404
27 years$1,678$1,248$914$661$473$359
28 years$1,600$1,176$850$606$427$320
29 years$1,528$1,109$791$555$385$285
30 years$1,462$1,048$737$510$348$255
31 years$1,399$990$687$468$315$227
32 years$1,341$937$641$430$285$203
33 years$1,286$888$598$396$258$181
34 years$1,234$841$559$364$233$162
35 years$1,186$798$523$335$211$145
36 years$1,140$757$489$309$191$129
37 years$1,097$719$458$284$173$116
38 years$1,057$684$429$262$157$103
39 years$1,018$650$402$242$143$93
40 years$982$618$376$223$129$83
41 years$947$589$353$206$117$74
42 years$914$561$331$190$106$66
43 years$883$534$311$175$97$59
44 years$853$509$292$162$88$53
45 years$825$486$274$149$80$48
46 years$798$463$257$138$72$43
47 years$772$442$242$128$66$38
48 years$747$422$227$118$60$34
49 years$724$403$213$109$54$31
50 years$701$385$201$101$49$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $718,000, adding $5,753 every year, while hoping to spend $53,423 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: 70/23/7 Blend
59$718,000$718,000$718,000$718,000
60$797,170$759,116$747,987$851,698
61$821,640$739,471$716,203$868,871
62$846,815$717,073$681,564$880,534
63$872,711$691,731$643,917$891,829
64$899,343$663,241$603,104$902,709
65$926,727$631,391$558,959$913,122
66$954,877$595,953$511,308$923,011
67$983,807$556,687$459,969$932,318
68$1,013,532$513,341$404,754$940,978
69$1,044,064$465,646$345,465$948,923
70$1,075,415$413,320$281,895$956,079
71$1,107,597$356,062$213,828$962,366
72$1,140,620$293,557$141,040$967,702
73$1,174,493$225,471$63,294$971,994
74$1,209,223$151,451$0$975,146
75$1,244,816$71,125$0$978,523
76$1,281,276$0$0$985,686
77$1,318,603$0$0$995,828
78$1,356,797$0$0$1,024,618
79$1,395,852$0$0$1,054,052
80$1,435,763$0$0$1,084,124
81$1,476,516$0$0$1,114,823
82$1,518,097$0$0$1,146,138
83$1,560,485$0$0$1,178,051
84$1,603,655$0$0$1,210,542
85$1,647,573$0$0$1,243,585
86$1,692,202$0$0$1,277,150
87$1,737,496$0$0$1,311,201
88$1,783,399$0$0$1,345,694
89$1,829,847$0$0$1,380,578
90$1,876,766$0$0$1,415,796
91$1,924,070$0$0$1,451,280
92$1,971,659$0$0$1,486,952
93$2,019,419$0$0$1,522,724
94$2,067,219$0$0$1,558,493
95$2,114,913$0$0$1,594,145
96$2,162,332$0$0$1,629,549
97$2,209,286$0$0$1,664,558
98$2,255,561$0$0$1,699,004
99$2,300,915$0$0$1,732,701
100$2,345,077$0$0$1,765,437