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%15.5%
1 years$59,622$59,091$58,573$58,067$57,573$56,273
2 years$29,516$28,966$28,433$27,917$27,416$26,113
3 years$19,482$18,930$18,398$17,887$17,394$16,129
4 years$14,466$13,915$13,389$12,886$12,405$11,188
5 years$11,457$10,910$10,391$9,898$9,430$8,264
6 years$9,452$8,909$8,397$7,915$7,462$6,348
7 years$8,020$7,481$6,978$6,508$6,069$5,007
8 years$6,947$6,413$5,918$5,459$5,034$4,025
9 years$6,112$5,584$5,097$4,650$4,240$3,282
10 years$5,445$4,922$4,444$4,008$3,612$2,705
11 years$4,900$4,382$3,912$3,488$3,107$2,248
12 years$4,445$3,933$3,472$3,060$2,692$1,881
13 years$4,061$3,554$3,102$2,701$2,348$1,583
14 years$3,732$3,230$2,787$2,398$2,058$1,338
15 years$3,448$2,951$2,516$2,139$1,812$1,135
16 years$3,199$2,708$2,282$1,915$1,601$966
17 years$2,979$2,494$2,076$1,720$1,420$824
18 years$2,784$2,304$1,895$1,551$1,263$705
19 years$2,610$2,135$1,735$1,401$1,125$603
20 years$2,454$1,984$1,592$1,269$1,005$518
21 years$2,312$1,848$1,465$1,152$900$445
22 years$2,184$1,725$1,350$1,047$806$382
23 years$2,067$1,614$1,246$954$724$329
24 years$1,960$1,512$1,153$870$651$284
25 years$1,861$1,419$1,068$794$585$244
26 years$1,771$1,334$990$726$527$211
27 years$1,687$1,255$919$665$475$182
28 years$1,609$1,183$855$609$429$157
29 years$1,537$1,116$795$559$387$136
30 years$1,470$1,054$741$513$350$117
31 years$1,407$996$691$471$316$101
32 years$1,348$942$644$433$286$88
33 years$1,293$892$602$398$259$76
34 years$1,241$846$562$366$235$65
35 years$1,193$802$526$337$212$57
36 years$1,147$761$492$310$192$49
37 years$1,103$723$460$286$174$42
38 years$1,062$687$431$264$158$37
39 years$1,024$654$404$243$143$32
40 years$987$622$378$224$130$27
41 years$952$592$355$207$118$24
42 years$919$564$333$191$107$21
43 years$888$537$312$176$97$18
44 years$858$512$293$163$88$15
45 years$829$488$275$150$80$13
46 years$802$466$259$139$73$12
47 years$776$444$243$128$66$10
48 years$751$424$228$118$60$9
49 years$728$405$215$109$54$7
50 years$705$387$202$101$49$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $722,000, adding $4,408 every year, while hoping to spend $23,666 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: 60/17/23 Blend
59$722,000$722,000$722,000$722,000
60$800,191$761,925$750,734$843,062
61$856,630$774,079$750,703$884,836
62$918,033$786,035$749,878$927,433
63$984,880$797,759$748,207$973,389
64$1,057,702$809,213$745,636$1,023,036
65$1,137,081$820,359$742,109$1,076,737
66$1,223,659$831,152$737,565$1,134,897
67$1,318,142$841,548$731,943$1,197,958
68$1,421,307$851,498$725,177$1,266,410
69$1,534,009$860,950$717,200$1,340,794
70$1,657,190$869,849$707,938$1,421,705
71$1,791,887$878,135$697,317$1,509,801
72$1,939,241$885,745$685,259$1,605,806
73$2,100,510$892,613$671,682$1,710,521
74$2,277,078$898,666$656,499$1,824,826
75$2,470,468$903,830$639,620$1,949,696
76$2,682,360$908,021$620,951$2,086,203
77$2,914,601$911,155$600,394$2,235,531
78$3,169,229$913,140$577,845$2,398,986
79$3,448,484$913,878$553,197$2,578,006
80$3,754,838$913,266$526,337$2,774,180
81$4,091,009$911,194$497,148$2,989,259
82$4,459,995$907,546$465,505$3,225,175
83$4,865,097$902,198$431,282$3,484,057
84$5,309,950$895,018$394,342$3,768,253
85$5,798,558$885,868$354,547$4,080,355
86$6,335,336$874,600$311,749$4,423,218
87$6,925,142$861,057$265,794$4,799,993
88$7,573,332$845,075$216,524$5,214,151
89$8,285,805$826,476$163,770$5,669,523
90$9,069,060$805,076$107,360$6,170,332
91$9,930,257$780,678$47,109$6,721,234
92$10,877,285$753,073$0$7,327,361
93$11,918,835$722,041$0$7,998,594
94$13,064,484$687,349$0$8,749,567
95$14,324,782$648,749$0$9,575,638
96$15,711,353$605,981$0$10,484,447
97$17,237,005$558,769$0$11,484,412
98$18,915,852$506,821$0$12,584,813
99$20,763,443$449,828$0$13,795,875
100$22,796,910$387,466$0$15,128,869