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%12.9%
1 years$59,622$59,091$58,573$58,067$57,573$56,877
2 years$29,516$28,966$28,433$27,917$27,416$26,716
3 years$19,482$18,930$18,398$17,887$17,394$16,711
4 years$14,466$13,915$13,389$12,886$12,405$11,745
5 years$11,457$10,910$10,391$9,898$9,430$8,794
6 years$9,452$8,909$8,397$7,915$7,462$6,851
7 years$8,020$7,481$6,978$6,508$6,069$5,483
8 years$6,947$6,413$5,918$5,459$5,034$4,475
9 years$6,112$5,584$5,097$4,650$4,240$3,705
10 years$5,445$4,922$4,444$4,008$3,612$3,103
11 years$4,900$4,382$3,912$3,488$3,107$2,622
12 years$4,445$3,933$3,472$3,060$2,692$2,231
13 years$4,061$3,554$3,102$2,701$2,348$1,910
14 years$3,732$3,230$2,787$2,398$2,058$1,643
15 years$3,448$2,951$2,516$2,139$1,812$1,419
16 years$3,199$2,708$2,282$1,915$1,601$1,229
17 years$2,979$2,494$2,076$1,720$1,420$1,069
18 years$2,784$2,304$1,895$1,551$1,263$931
19 years$2,610$2,135$1,735$1,401$1,125$813
20 years$2,454$1,984$1,592$1,269$1,005$711
21 years$2,312$1,848$1,465$1,152$900$623
22 years$2,184$1,725$1,350$1,047$806$546
23 years$2,067$1,614$1,246$954$724$480
24 years$1,960$1,512$1,153$870$651$422
25 years$1,861$1,419$1,068$794$585$371
26 years$1,771$1,334$990$726$527$327
27 years$1,687$1,255$919$665$475$288
28 years$1,609$1,183$855$609$429$254
29 years$1,537$1,116$795$559$387$224
30 years$1,470$1,054$741$513$350$198
31 years$1,407$996$691$471$316$175
32 years$1,348$942$644$433$286$154
33 years$1,293$892$602$398$259$136
34 years$1,241$846$562$366$235$121
35 years$1,193$802$526$337$212$107
36 years$1,147$761$492$310$192$94
37 years$1,103$723$460$286$174$83
38 years$1,062$687$431$264$158$74
39 years$1,024$654$404$243$143$65
40 years$987$622$378$224$130$58
41 years$952$592$355$207$118$51
42 years$919$564$333$191$107$45
43 years$888$537$312$176$97$40
44 years$858$512$293$163$88$35
45 years$829$488$275$150$80$31
46 years$802$466$259$139$73$28
47 years$776$444$243$128$66$25
48 years$751$424$228$118$60$22
49 years$728$405$215$109$54$19
50 years$705$387$202$101$49$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $722,000, adding $4,459 every year, while hoping to spend $49,690 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: 43/47/10 Blend
59$722,000$722,000$722,000$722,000
60$800,243$761,977$750,786$832,152
61$828,999$746,445$723,068$839,291
62$859,021$728,485$692,756$841,648
63$890,388$707,928$659,710$843,081
64$923,183$684,591$623,785$843,527
65$957,495$658,284$584,829$842,918
66$993,421$628,801$542,683$841,183
67$1,031,067$595,930$497,180$838,249
68$1,070,547$559,441$448,146$834,041
69$1,111,985$519,096$395,401$828,479
70$1,155,515$474,639$338,755$821,483
71$1,201,283$425,802$278,009$812,969
72$1,249,449$372,301$212,957$802,852
73$1,300,185$313,837$143,384$791,043
74$1,353,680$250,091$69,063$777,452
75$1,410,139$180,729$0$761,988
76$1,469,786$105,398$0$745,650
77$1,532,865$23,723$0$735,185
78$1,599,643$0$0$723,147
79$1,670,411$0$0$742,928
80$1,745,486$0$0$776,971
81$1,825,217$0$0$813,173
82$1,909,984$0$0$851,711
83$2,000,202$0$0$892,782
84$2,096,328$0$0$936,598
85$2,198,860$0$0$983,396
86$2,308,345$0$0$1,033,432
87$2,425,381$0$0$1,086,988
88$2,550,625$0$0$1,144,373
89$2,684,795$0$0$1,205,927
90$2,828,683$0$0$1,272,022
91$2,983,153$0$0$1,343,065
92$3,149,157$0$0$1,419,506
93$3,327,737$0$0$1,501,836
94$3,520,039$0$0$1,590,596
95$3,727,321$0$0$1,686,381
96$3,950,966$0$0$1,789,842
97$4,192,492$0$0$1,901,697
98$4,453,567$0$0$2,022,734
99$4,736,025$0$0$2,153,819
100$5,041,881$0$0$2,295,904