Can I retire at age 60 with 724,000?

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 $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%15.9%
1 years$59,787$59,255$58,735$58,228$57,733$56,337
2 years$29,598$29,046$28,512$27,994$27,492$26,094
3 years$19,536$18,982$18,449$17,936$17,442$16,086
4 years$14,506$13,954$13,426$12,922$12,440$11,136
5 years$11,489$10,940$10,419$9,925$9,456$8,208
6 years$9,478$8,933$8,420$7,937$7,483$6,291
7 years$8,042$7,502$6,997$6,526$6,085$4,951
8 years$6,966$6,431$5,934$5,474$5,048$3,971
9 years$6,129$5,599$5,111$4,663$4,251$3,230
10 years$5,460$4,935$4,456$4,019$3,622$2,655
11 years$4,913$4,394$3,923$3,498$3,115$2,201
12 years$4,458$3,944$3,482$3,068$2,700$1,837
13 years$4,073$3,564$3,111$2,709$2,354$1,542
14 years$3,743$3,239$2,795$2,405$2,064$1,300
15 years$3,457$2,959$2,523$2,145$1,817$1,100
16 years$3,208$2,715$2,288$1,920$1,606$933
17 years$2,988$2,500$2,082$1,725$1,424$794
18 years$2,792$2,311$1,900$1,555$1,266$677
19 years$2,618$2,141$1,740$1,405$1,128$578
20 years$2,461$1,990$1,597$1,272$1,008$494
21 years$2,319$1,853$1,469$1,155$902$423
22 years$2,190$1,730$1,354$1,050$809$363
23 years$2,073$1,618$1,250$956$726$311
24 years$1,965$1,516$1,156$872$652$267
25 years$1,867$1,423$1,071$796$587$230
26 years$1,776$1,337$993$728$529$197
27 years$1,692$1,258$922$667$477$170
28 years$1,614$1,186$857$611$430$146
29 years$1,541$1,119$798$560$388$126
30 years$1,474$1,057$743$514$351$108
31 years$1,411$999$693$472$317$93
32 years$1,352$945$646$434$287$80
33 years$1,297$895$603$399$260$69
34 years$1,245$848$564$367$235$60
35 years$1,196$805$527$338$213$51
36 years$1,150$764$493$311$193$44
37 years$1,106$725$462$287$175$38
38 years$1,065$689$432$264$159$33
39 years$1,027$655$405$244$144$28
40 years$990$624$380$225$130$25
41 years$955$594$356$207$118$21
42 years$922$565$334$191$107$18
43 years$890$539$313$177$97$16
44 years$860$513$294$163$88$14
45 years$832$490$276$151$80$12
46 years$804$467$259$139$73$10
47 years$778$446$244$129$66$9
48 years$753$425$229$119$60$8
49 years$730$406$215$110$55$6
50 years$707$388$202$101$50$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $724,000, adding $2,595 every year, while hoping to spend $23,721 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: 47/27/26 Blend
59$724,000$724,000$724,000$724,000
60$800,525$762,153$750,931$832,084
61$856,939$774,259$750,848$866,661
62$918,313$786,164$749,967$901,639
63$985,127$797,832$748,237$939,142
64$1,057,910$809,226$745,603$979,418
65$1,137,244$820,305$742,008$1,022,741
66$1,223,771$831,028$737,393$1,069,416
67$1,318,194$841,347$731,695$1,119,779
68$1,421,292$851,215$724,848$1,174,199
69$1,533,917$860,578$716,784$1,233,086
70$1,657,011$869,381$707,431$1,296,893
71$1,791,610$877,564$696,714$1,366,118
72$1,938,854$885,064$684,553$1,441,314
73$2,099,999$891,814$670,867$1,523,089
74$2,276,426$897,741$655,569$1,612,117
75$2,469,660$902,768$638,569$1,709,139
76$2,681,376$906,814$619,772$1,814,976
77$2,913,421$909,793$599,079$1,930,533
78$3,167,829$911,612$576,387$2,056,810
79$3,446,839$912,173$551,588$2,194,910
80$3,752,919$911,372$524,569$2,346,051
81$4,088,787$909,099$495,211$2,511,578
82$4,457,434$905,236$463,392$2,692,974
83$4,862,158$899,658$428,981$2,891,878
84$5,306,592$892,235$391,846$3,110,096
85$5,794,735$882,825$351,843$3,349,624
86$6,330,995$871,281$308,827$3,612,663
87$6,920,228$857,445$262,644$3,901,642
88$7,567,781$841,150$213,133$4,219,241
89$8,279,549$822,220$160,126$4,568,417
90$9,062,022$800,467$103,450$4,952,433
91$9,922,352$775,695$42,920$5,374,888
92$10,868,421$747,693$0$5,839,753
93$11,908,910$716,239$0$6,357,423
94$13,053,383$681,099$0$6,939,812
95$14,312,380$642,025$0$7,580,390
96$15,697,513$598,755$0$8,285,097
97$17,221,576$551,010$0$9,060,479
98$18,898,664$498,497$0$9,913,754
99$20,744,311$440,907$0$10,852,879
100$22,775,631$377,911$0$11,886,625