Can I retire at age 60 with 721,000?

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 $721,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$59,540$59,009$58,492$57,987$57,494$55,877
2 years$29,475$28,926$28,394$27,878$27,378$25,762
3 years$19,455$18,903$18,373$17,862$17,370$15,804
4 years$14,446$13,896$13,371$12,868$12,388$10,886
5 years$11,441$10,895$10,376$9,884$9,417$7,982
6 years$9,439$8,896$8,386$7,904$7,452$6,084
7 years$8,009$7,471$6,968$6,499$6,060$4,761
8 years$6,937$6,404$5,910$5,452$5,027$3,796
9 years$6,104$5,576$5,090$4,644$4,234$3,069
10 years$5,438$4,915$4,438$4,003$3,607$2,508
11 years$4,893$4,375$3,907$3,484$3,103$2,066
12 years$4,439$3,927$3,467$3,056$2,689$1,713
13 years$4,056$3,549$3,098$2,698$2,345$1,428
14 years$3,727$3,226$2,783$2,395$2,055$1,195
15 years$3,443$2,947$2,513$2,136$1,810$1,004
16 years$3,194$2,704$2,278$1,912$1,599$846
17 years$2,975$2,490$2,073$1,718$1,418$714
18 years$2,781$2,301$1,893$1,548$1,261$605
19 years$2,607$2,133$1,733$1,399$1,124$512
20 years$2,450$1,982$1,590$1,267$1,004$435
21 years$2,309$1,846$1,463$1,150$898$370
22 years$2,181$1,723$1,348$1,046$805$314
23 years$2,064$1,611$1,245$952$723$268
24 years$1,957$1,510$1,151$869$650$228
25 years$1,859$1,417$1,066$793$585$194
26 years$1,768$1,332$989$725$527$166
27 years$1,685$1,253$918$664$475$141
28 years$1,607$1,181$854$608$428$121
29 years$1,535$1,114$794$558$387$103
30 years$1,468$1,052$740$512$350$88
31 years$1,405$995$690$470$316$75
32 years$1,346$941$644$432$286$64
33 years$1,291$891$601$397$259$55
34 years$1,240$845$561$366$234$47
35 years$1,191$801$525$337$212$40
36 years$1,145$760$491$310$192$34
37 years$1,102$722$460$286$174$29
38 years$1,061$686$430$263$158$25
39 years$1,022$653$403$243$143$21
40 years$986$621$378$224$130$18
41 years$951$591$354$207$118$16
42 years$918$563$332$191$107$13
43 years$887$536$312$176$97$11
44 years$857$511$293$162$88$10
45 years$828$488$275$150$80$8
46 years$801$465$258$139$73$7
47 years$775$444$243$128$66$6
48 years$750$424$228$118$60$5
49 years$727$405$214$109$54$4
50 years$704$387$201$101$49$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $721,000, adding $3,608 every year, while hoping to spend $42,178 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: 78/14/8 Blend
59$721,000$721,000$721,000$721,000
60$798,264$760,051$748,875$859,362
61$834,809$752,416$729,085$892,348
62$873,669$742,994$707,219$922,685
63$915,035$731,652$683,162$954,716
64$959,115$718,250$656,795$988,592
65$1,006,141$702,639$627,993$1,024,477
66$1,056,362$684,664$596,626$1,062,555
67$1,110,056$664,157$562,558$1,103,026
68$1,167,523$640,943$525,645$1,146,114
69$1,229,096$614,834$485,740$1,192,062
70$1,295,137$585,635$442,686$1,241,142
71$1,366,046$553,136$396,321$1,293,653
72$1,442,260$517,116$346,475$1,349,924
73$1,524,260$477,344$292,970$1,410,320
74$1,612,572$433,572$235,623$1,475,242
75$1,707,777$385,539$174,238$1,545,136
76$1,810,510$332,970$108,615$1,620,489
77$1,921,471$275,575$38,543$1,701,845
78$2,041,428$213,045$0$1,789,800
79$2,171,226$145,057$0$1,888,106
80$2,311,793$71,266$0$1,998,110
81$2,464,149$0$0$2,117,344
82$2,629,417$0$0$2,248,053
83$2,808,831$0$0$2,401,889
84$3,003,748$0$0$2,569,040
85$3,215,662$0$0$2,750,787
86$3,446,215$0$0$2,948,544
87$3,697,216$0$0$3,163,863
88$3,970,652$0$0$3,398,453
89$4,268,713$0$0$3,654,196
90$4,593,808$0$0$3,933,161
91$4,948,587$0$0$4,237,627
92$5,335,969$0$0$4,570,101
93$5,759,167$0$0$4,933,346
94$6,221,717$0$0$5,330,400
95$6,727,514$0$0$5,764,610
96$7,280,844$0$0$6,239,661
97$7,886,428$0$0$6,759,609
98$8,549,464$0$0$7,328,922
99$9,275,677$0$0$7,952,520
100$10,071,369$0$0$8,635,820