Can I retire at age 60 with 719,000?

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 $719,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$59,374$58,845$58,329$57,826$57,334$56,407
2 years$29,393$28,846$28,315$27,801$27,302$26,371
3 years$19,401$18,851$18,322$17,812$17,321$16,415
4 years$14,406$13,858$13,334$12,833$12,354$11,479
5 years$11,409$10,864$10,347$9,857$9,391$8,550
6 years$9,412$8,872$8,362$7,883$7,431$6,625
7 years$7,987$7,450$6,949$6,481$6,043$5,273
8 years$6,918$6,386$5,893$5,436$5,014$4,278
9 years$6,087$5,560$5,076$4,631$4,222$3,522
10 years$5,422$4,901$4,425$3,992$3,597$2,931
11 years$4,879$4,363$3,896$3,474$3,094$2,461
12 years$4,427$3,916$3,458$3,047$2,681$2,081
13 years$4,044$3,539$3,089$2,690$2,338$1,770
14 years$3,717$3,217$2,776$2,388$2,049$1,512
15 years$3,433$2,939$2,506$2,130$1,805$1,297
16 years$3,185$2,696$2,272$1,907$1,595$1,116
17 years$2,967$2,483$2,067$1,713$1,414$963
18 years$2,773$2,295$1,887$1,544$1,257$833
19 years$2,600$2,127$1,728$1,395$1,121$722
20 years$2,444$1,976$1,586$1,264$1,001$627
21 years$2,303$1,841$1,459$1,147$896$545
22 years$2,175$1,718$1,344$1,043$803$475
23 years$2,058$1,607$1,241$950$721$414
24 years$1,952$1,506$1,148$866$648$361
25 years$1,854$1,413$1,063$791$583$315
26 years$1,763$1,328$986$723$525$275
27 years$1,680$1,250$916$662$473$241
28 years$1,602$1,178$851$607$427$210
29 years$1,531$1,111$792$556$386$184
30 years$1,464$1,049$738$510$349$161
31 years$1,401$992$688$469$315$141
32 years$1,342$939$642$431$285$124
33 years$1,288$889$599$396$258$108
34 years$1,236$842$560$365$234$95
35 years$1,188$799$523$336$212$83
36 years$1,142$758$490$309$192$73
37 years$1,099$720$458$285$174$64
38 years$1,058$684$429$262$157$56
39 years$1,020$651$402$242$143$49
40 years$983$619$377$223$130$43
41 years$948$589$353$206$118$38
42 years$915$561$332$190$107$33
43 years$884$535$311$175$97$29
44 years$854$510$292$162$88$26
45 years$826$486$274$150$80$22
46 years$799$464$258$138$72$20
47 years$773$443$242$128$66$17
48 years$748$423$227$118$60$15
49 years$725$404$214$109$54$13
50 years$702$385$201$101$49$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $719,000, adding $3,814 every year, while hoping to spend $59,809 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: 29/45/26 Blend
59$719,000$719,000$719,000$719,000
60$796,272$758,165$747,021$812,859
61$813,856$731,679$708,410$799,678
62$831,228$701,890$666,500$780,027
63$848,305$668,574$621,120$757,688
64$864,990$631,493$572,086$732,469
65$881,178$590,395$519,209$704,167
66$896,748$545,014$462,292$672,563
67$911,564$495,068$401,127$637,427
68$925,478$440,260$335,499$598,512
69$938,320$380,276$265,182$555,556
70$949,903$314,784$189,940$508,279
71$960,018$243,433$109,527$456,382
72$968,431$165,853$23,688$399,548
73$974,882$81,651$0$337,436
74$979,083$0$0$288,526
75$980,713$0$0$246,574
76$979,414$0$0$244,053
77$974,791$0$0$240,404
78$966,404$0$0$235,484
79$953,766$0$0$229,134
80$936,335$0$0$221,179
81$913,512$0$0$211,427
82$884,635$0$0$199,662
83$848,967$0$0$185,647
84$805,695$0$0$169,120
85$753,918$0$0$149,790
86$692,641$0$0$127,336
87$620,761$0$0$101,403
88$537,059$0$0$71,599
89$440,189$0$0$37,490
90$328,661$0$0$0
91$200,829$0$0$0
92$54,877$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0