Can I retire at age 60 with 724,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $724,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$59,787$59,255$58,735$58,228$57,733$56,917
2 years$29,598$29,046$28,512$27,994$27,492$26,672
3 years$19,536$18,982$18,449$17,936$17,442$16,643
4 years$14,506$13,954$13,426$12,922$12,440$11,668
5 years$11,489$10,940$10,419$9,925$9,456$8,714
6 years$9,478$8,933$8,420$7,937$7,483$6,770
7 years$8,042$7,502$6,997$6,526$6,085$5,403
8 years$6,966$6,431$5,934$5,474$5,048$4,397
9 years$6,129$5,599$5,111$4,663$4,251$3,630
10 years$5,460$4,935$4,456$4,019$3,622$3,031
11 years$4,913$4,394$3,923$3,498$3,115$2,553
12 years$4,458$3,944$3,482$3,068$2,700$2,165
13 years$4,073$3,564$3,111$2,709$2,354$1,847
14 years$3,743$3,239$2,795$2,405$2,064$1,584
15 years$3,457$2,959$2,523$2,145$1,817$1,363
16 years$3,208$2,715$2,288$1,920$1,606$1,177
17 years$2,988$2,500$2,082$1,725$1,424$1,020
18 years$2,792$2,311$1,900$1,555$1,266$885
19 years$2,618$2,141$1,740$1,405$1,128$770
20 years$2,461$1,990$1,597$1,272$1,008$671
21 years$2,319$1,853$1,469$1,155$902$586
22 years$2,190$1,730$1,354$1,050$809$512
23 years$2,073$1,618$1,250$956$726$448
24 years$1,965$1,516$1,156$872$652$392
25 years$1,867$1,423$1,071$796$587$344
26 years$1,776$1,337$993$728$529$301
27 years$1,692$1,258$922$667$477$265
28 years$1,614$1,186$857$611$430$232
29 years$1,541$1,119$798$560$388$204
30 years$1,474$1,057$743$514$351$179
31 years$1,411$999$693$472$317$158
32 years$1,352$945$646$434$287$139
33 years$1,297$895$603$399$260$122
34 years$1,245$848$564$367$235$108
35 years$1,196$805$527$338$213$95
36 years$1,150$764$493$311$193$83
37 years$1,106$725$462$287$175$73
38 years$1,065$689$432$264$159$65
39 years$1,027$655$405$244$144$57
40 years$990$624$380$225$130$50
41 years$955$594$356$207$118$44
42 years$922$565$334$191$107$39
43 years$890$539$313$177$97$34
44 years$860$513$294$163$88$30
45 years$832$490$276$151$80$27
46 years$804$467$259$139$73$24
47 years$778$446$244$129$66$21
48 years$753$425$229$119$60$18
49 years$730$406$215$110$55$16
50 years$707$388$202$101$50$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $724,000, adding $3,212 every year, while hoping to spend $44,012 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: 67/26/7 Blend
59$724,000$724,000$724,000$724,000
60$801,161$762,789$751,567$853,668
61$836,051$753,337$729,916$879,468
62$873,025$741,947$706,065$902,058
63$912,248$728,478$679,893$925,578
64$953,903$712,779$651,275$950,112
65$998,188$694,691$620,079$975,754
66$1,045,319$674,048$586,168$1,002,609
67$1,095,536$650,670$549,399$1,030,794
68$1,149,098$624,370$509,621$1,060,438
69$1,206,290$594,949$466,678$1,091,687
70$1,267,426$562,195$420,406$1,124,703
71$1,332,848$525,887$370,633$1,159,666
72$1,402,931$485,788$317,182$1,196,775
73$1,478,087$441,649$259,865$1,236,254
74$1,558,770$393,207$198,488$1,278,352
75$1,645,474$340,184$132,847$1,323,343
76$1,738,745$282,286$62,731$1,371,535
77$1,839,181$219,202$0$1,423,269
78$1,947,438$150,604$0$1,479,827
79$2,064,239$76,146$0$1,545,785
80$2,190,375$0$0$1,616,939
81$2,326,718$0$0$1,695,125
82$2,474,226$0$0$1,803,318
83$2,633,949$0$0$1,920,508
84$2,807,047$0$0$2,047,549
85$2,994,789$0$0$2,185,379
86$3,198,577$0$0$2,335,031
87$3,419,948$0$0$2,497,640
88$3,660,594$0$0$2,674,455
89$3,922,379$0$0$2,866,849
90$4,207,350$0$0$3,076,335
91$4,517,763$0$0$3,304,576
92$4,856,098$0$0$3,553,404
93$5,225,084$0$0$3,824,832
94$5,627,728$0$0$4,121,078
95$6,067,336$0$0$4,444,585
96$6,547,550$0$0$4,798,038
97$7,072,379$0$0$5,184,397
98$7,646,235$0$0$5,606,919
99$8,273,977$0$0$6,069,190
100$8,960,955$0$0$6,575,159