Can I retire at age 60 with 723,000?

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 $723,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$59,705$59,173$58,654$58,148$57,653$55,785
2 years$29,557$29,006$28,473$27,956$27,454$25,590
3 years$19,509$18,956$18,424$17,911$17,418$15,616
4 years$14,486$13,935$13,408$12,904$12,423$10,696
5 years$11,473$10,925$10,405$9,912$9,443$7,798
6 years$9,465$8,921$8,409$7,926$7,472$5,908
7 years$8,031$7,492$6,988$6,517$6,077$4,595
8 years$6,956$6,422$5,926$5,467$5,041$3,640
9 years$6,121$5,591$5,104$4,656$4,246$2,923
10 years$5,453$4,929$4,450$4,014$3,617$2,372
11 years$4,906$4,388$3,918$3,493$3,111$1,940
12 years$4,452$3,938$3,477$3,064$2,696$1,597
13 years$4,067$3,559$3,106$2,705$2,351$1,321
14 years$3,738$3,235$2,791$2,401$2,061$1,098
15 years$3,452$2,955$2,520$2,142$1,815$915
16 years$3,203$2,711$2,285$1,918$1,604$765
17 years$2,983$2,497$2,079$1,723$1,422$641
18 years$2,788$2,307$1,898$1,553$1,264$538
19 years$2,614$2,138$1,737$1,403$1,127$452
20 years$2,457$1,987$1,594$1,271$1,007$380
21 years$2,316$1,851$1,467$1,153$901$321
22 years$2,187$1,728$1,352$1,049$807$270
23 years$2,070$1,616$1,248$955$725$228
24 years$1,963$1,514$1,154$871$651$193
25 years$1,864$1,421$1,069$795$586$163
26 years$1,773$1,335$992$727$528$138
27 years$1,689$1,257$921$666$476$116
28 years$1,611$1,184$856$610$430$98
29 years$1,539$1,117$796$559$388$83
30 years$1,472$1,055$742$513$350$71
31 years$1,409$997$692$471$317$60
32 years$1,350$944$645$433$287$51
33 years$1,295$894$603$398$259$43
34 years$1,243$847$563$367$235$36
35 years$1,194$803$526$337$213$31
36 years$1,148$763$492$311$193$26
37 years$1,105$724$461$286$175$22
38 years$1,064$688$432$264$158$19
39 years$1,025$655$404$243$144$16
40 years$988$623$379$224$130$13
41 years$954$593$355$207$118$11
42 years$920$565$333$191$107$10
43 years$889$538$313$176$97$8
44 years$859$513$294$163$88$7
45 years$830$489$276$150$80$6
46 years$803$466$259$139$73$5
47 years$777$445$243$128$66$4
48 years$752$425$229$119$60$4
49 years$729$406$215$110$55$3
50 years$706$388$202$101$50$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $723,000, adding $2,468 every year, while hoping to spend $49,691 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: 50/33/17 Blend
59$723,000$723,000$723,000$723,000
60$799,292$760,973$749,766$835,380
61$827,949$745,390$722,013$844,938
62$857,863$727,377$691,664$849,974
63$889,111$706,765$658,580$854,369
64$921,774$683,370$622,617$858,078
65$955,941$657,001$583,620$861,058
66$991,708$627,455$541,432$863,263
67$1,029,178$594,516$495,886$864,646
68$1,068,464$557,957$446,808$865,160
69$1,109,687$517,537$394,016$864,758
70$1,152,982$473,003$337,322$863,391
71$1,198,490$424,084$276,527$861,011
72$1,246,370$370,498$211,424$857,570
73$1,296,790$311,943$141,797$853,019
74$1,349,937$248,103$67,422$847,313
75$1,406,013$178,642$0$840,404
76$1,465,238$103,207$0$834,416
77$1,527,851$21,423$0$840,332
78$1,594,116$0$0$845,917
79$1,664,317$0$0$875,552
80$1,738,769$0$0$915,268
81$1,817,813$0$0$957,473
82$1,901,822$0$0$1,002,372
83$1,991,207$0$0$1,050,189
84$2,086,413$0$0$1,101,168
85$2,187,931$0$0$1,155,578
86$2,296,299$0$0$1,213,715
87$2,412,104$0$0$1,275,900
88$2,535,991$0$0$1,342,487
89$2,668,666$0$0$1,413,863
90$2,810,906$0$0$1,490,455
91$2,963,560$0$0$1,572,730
92$3,127,563$0$0$1,661,199
93$3,303,937$0$0$1,756,425
94$3,493,809$0$0$1,859,027
95$3,698,413$0$0$1,969,683
96$3,919,106$0$0$2,089,139
97$4,157,379$0$0$2,218,213
98$4,414,869$0$0$2,357,806
99$4,693,376$0$0$2,508,908
100$4,994,879$0$0$2,672,606