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%13.7%
1 years$59,540$59,009$58,492$57,987$57,494$56,611
2 years$29,475$28,926$28,394$27,878$27,378$26,491
3 years$19,455$18,903$18,373$17,862$17,370$16,506
4 years$14,446$13,896$13,371$12,868$12,388$11,554
5 years$11,441$10,895$10,376$9,884$9,417$8,615
6 years$9,439$8,896$8,386$7,904$7,452$6,683
7 years$8,009$7,471$6,968$6,499$6,060$5,325
8 years$6,937$6,404$5,910$5,452$5,027$4,325
9 years$6,104$5,576$5,090$4,644$4,234$3,565
10 years$5,438$4,915$4,438$4,003$3,607$2,971
11 years$4,893$4,375$3,907$3,484$3,103$2,497
12 years$4,439$3,927$3,467$3,056$2,689$2,114
13 years$4,056$3,549$3,098$2,698$2,345$1,801
14 years$3,727$3,226$2,783$2,395$2,055$1,540
15 years$3,443$2,947$2,513$2,136$1,810$1,323
16 years$3,194$2,704$2,278$1,912$1,599$1,140
17 years$2,975$2,490$2,073$1,718$1,418$985
18 years$2,781$2,301$1,893$1,548$1,261$854
19 years$2,607$2,133$1,733$1,399$1,124$741
20 years$2,450$1,982$1,590$1,267$1,004$644
21 years$2,309$1,846$1,463$1,150$898$561
22 years$2,181$1,723$1,348$1,046$805$489
23 years$2,064$1,611$1,245$952$723$427
24 years$1,957$1,510$1,151$869$650$373
25 years$1,859$1,417$1,066$793$585$326
26 years$1,768$1,332$989$725$527$285
27 years$1,685$1,253$918$664$475$250
28 years$1,607$1,181$854$608$428$219
29 years$1,535$1,114$794$558$387$192
30 years$1,468$1,052$740$512$350$168
31 years$1,405$995$690$470$316$148
32 years$1,346$941$644$432$286$130
33 years$1,291$891$601$397$259$114
34 years$1,240$845$561$366$234$100
35 years$1,191$801$525$337$212$88
36 years$1,145$760$491$310$192$77
37 years$1,102$722$460$286$174$68
38 years$1,061$686$430$263$158$59
39 years$1,022$653$403$243$143$52
40 years$986$621$378$224$130$46
41 years$951$591$354$207$118$40
42 years$918$563$332$191$107$35
43 years$887$536$312$176$97$31
44 years$857$511$293$162$88$27
45 years$828$488$275$150$80$24
46 years$801$465$258$139$73$21
47 years$775$444$243$128$66$19
48 years$750$424$228$118$60$16
49 years$727$405$214$109$54$14
50 years$704$387$201$101$49$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $721,000, adding $2,852 every year, while hoping to spend $56,124 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: 31/47/22 Blend
59$721,000$721,000$721,000$721,000
60$797,484$759,271$748,095$816,692
61$819,112$736,760$713,441$808,988
62$841,065$711,264$675,745$795,463
63$863,316$682,579$634,845$779,744
64$885,836$650,488$590,574$761,673
65$908,589$614,759$542,756$741,086
66$931,533$575,150$491,206$717,807
67$954,620$531,403$435,733$691,649
68$977,797$483,248$376,135$662,414
69$1,001,001$430,395$312,204$629,892
70$1,024,161$372,542$243,721$593,859
71$1,047,196$309,368$170,456$554,077
72$1,070,016$240,533$92,173$510,295
73$1,092,518$165,679$8,620$462,244
74$1,114,585$84,428$0$409,639
75$1,136,089$0$0$371,084
76$1,156,882$0$0$332,610
77$1,176,801$0$0$337,443
78$1,195,661$0$0$341,852
79$1,213,259$0$0$345,765
80$1,229,364$0$0$349,103
81$1,243,722$0$0$351,775
82$1,256,045$0$0$353,682
83$1,266,019$0$0$354,714
84$1,273,287$0$0$354,747
85$1,277,459$0$0$353,645
86$1,278,096$0$0$351,255
87$1,274,714$0$0$347,411
88$1,266,774$0$0$341,924
89$1,253,678$0$0$334,589
90$1,234,763$0$0$325,177
91$1,209,296$0$0$313,432
92$1,176,461$0$0$299,075
93$1,135,358$0$0$281,794
94$1,084,987$0$0$261,245
95$1,024,244$0$0$237,048
96$951,905$0$0$208,781
97$866,619$0$0$175,978
98$766,888$0$0$138,126
99$651,059$0$0$94,655
100$517,302$0$0$44,936