Can I retire at age 60 with 722,000?

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 $722,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$59,622$59,091$58,573$58,067$57,573$57,043
2 years$29,516$28,966$28,433$27,917$27,416$26,882
3 years$19,482$18,930$18,398$17,887$17,394$16,872
4 years$14,466$13,915$13,389$12,886$12,405$11,900
5 years$11,457$10,910$10,391$9,898$9,430$8,944
6 years$9,452$8,909$8,397$7,915$7,462$6,994
7 years$8,020$7,481$6,978$6,508$6,069$5,619
8 years$6,947$6,413$5,918$5,459$5,034$4,604
9 years$6,112$5,584$5,097$4,650$4,240$3,828
10 years$5,445$4,922$4,444$4,008$3,612$3,219
11 years$4,900$4,382$3,912$3,488$3,107$2,732
12 years$4,445$3,933$3,472$3,060$2,692$2,335
13 years$4,061$3,554$3,102$2,701$2,348$2,008
14 years$3,732$3,230$2,787$2,398$2,058$1,735
15 years$3,448$2,951$2,516$2,139$1,812$1,506
16 years$3,199$2,708$2,282$1,915$1,601$1,311
17 years$2,979$2,494$2,076$1,720$1,420$1,145
18 years$2,784$2,304$1,895$1,551$1,263$1,003
19 years$2,610$2,135$1,735$1,401$1,125$880
20 years$2,454$1,984$1,592$1,269$1,005$774
21 years$2,312$1,848$1,465$1,152$900$681
22 years$2,184$1,725$1,350$1,047$806$601
23 years$2,067$1,614$1,246$954$724$530
24 years$1,960$1,512$1,153$870$651$469
25 years$1,861$1,419$1,068$794$585$415
26 years$1,771$1,334$990$726$527$367
27 years$1,687$1,255$919$665$475$326
28 years$1,609$1,183$855$609$429$289
29 years$1,537$1,116$795$559$387$256
30 years$1,470$1,054$741$513$350$227
31 years$1,407$996$691$471$316$202
32 years$1,348$942$644$433$286$179
33 years$1,293$892$602$398$259$159
34 years$1,241$846$562$366$235$142
35 years$1,193$802$526$337$212$126
36 years$1,147$761$492$310$192$112
37 years$1,103$723$460$286$174$100
38 years$1,062$687$431$264$158$89
39 years$1,024$654$404$243$143$79
40 years$987$622$378$224$130$70
41 years$952$592$355$207$118$63
42 years$919$564$333$191$107$56
43 years$888$537$312$176$97$50
44 years$858$512$293$163$88$44
45 years$829$488$275$150$80$39
46 years$802$466$259$139$73$35
47 years$776$444$243$128$66$31
48 years$751$424$228$118$60$28
49 years$728$405$215$109$54$25
50 years$705$387$202$101$49$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $722,000, adding $4,241 every year, while hoping to spend $35,260 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: 43/45/12 Blend
59$722,000$722,000$722,000$722,000
60$800,019$761,753$750,562$831,461
61$844,104$761,562$738,189$853,656
62$891,505$760,181$724,220$873,816
63$942,521$757,512$708,564$894,874
64$997,484$753,456$691,127$916,929
65$1,056,755$747,904$671,808$940,090
66$1,120,735$740,742$650,504$964,478
67$1,189,861$731,849$627,107$990,230
68$1,264,614$721,096$601,502$1,017,501
69$1,345,523$708,349$573,571$1,046,462
70$1,433,171$693,462$543,190$1,077,306
71$1,528,196$676,284$510,229$1,110,247
72$1,631,303$656,653$474,552$1,145,526
73$1,743,264$634,397$436,018$1,183,412
74$1,864,931$609,336$394,479$1,224,203
75$1,997,239$581,279$349,779$1,268,234
76$2,141,218$550,022$301,757$1,315,877
77$2,298,001$515,352$250,245$1,367,548
78$2,468,835$477,042$195,066$1,423,707
79$2,655,092$434,853$136,037$1,484,871
80$2,858,282$388,532$72,965$1,551,610
81$3,080,067$337,810$5,649$1,624,563
82$3,322,277$282,405$0$1,704,435
83$3,586,925$222,019$0$1,800,490
84$3,876,230$156,336$0$1,906,447
85$4,192,632$85,023$0$2,022,584
86$4,538,819$7,728$0$2,150,006
87$4,917,751$0$0$2,289,942
88$5,332,687$0$0$2,481,344
89$5,787,217$0$0$2,695,291
90$6,285,292$0$0$2,929,827
91$6,831,266$0$0$3,187,014
92$7,429,933$0$0$3,469,122
93$8,086,573$0$0$3,778,651
94$8,807,003$0$0$4,118,357
95$9,597,627$0$0$4,491,272
96$10,465,503$0$0$4,900,739
97$11,418,403$0$0$5,350,439
98$12,464,890$0$0$5,844,428
99$13,614,395$0$0$6,387,174
100$14,877,310$0$0$6,983,598