Can I retire at age 60 with 740,000?

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 $740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$61,109$60,564$60,033$59,515$59,009$57,280
2 years$30,252$29,688$29,142$28,613$28,099$26,372
3 years$19,967$19,402$18,857$18,333$17,827$16,155
4 years$14,826$14,262$13,723$13,208$12,715$11,111
5 years$11,743$11,182$10,650$10,145$9,665$8,134
6 years$9,687$9,131$8,607$8,113$7,648$6,190
7 years$8,220$7,668$7,152$6,670$6,220$4,836
8 years$7,120$6,573$6,066$5,595$5,160$3,849
9 years$6,265$5,723$5,224$4,766$4,345$3,106
10 years$5,581$5,044$4,555$4,108$3,703$2,533
11 years$5,022$4,491$4,010$3,575$3,184$2,083
12 years$4,556$4,031$3,559$3,136$2,759$1,724
13 years$4,163$3,643$3,179$2,769$2,406$1,434
14 years$3,826$3,311$2,857$2,458$2,109$1,198
15 years$3,534$3,025$2,579$2,192$1,857$1,004
16 years$3,278$2,775$2,338$1,963$1,641$844
17 years$3,054$2,556$2,128$1,763$1,455$711
18 years$2,854$2,362$1,942$1,589$1,294$601
19 years$2,675$2,189$1,778$1,436$1,153$508
20 years$2,515$2,034$1,632$1,301$1,030$430
21 years$2,370$1,894$1,501$1,180$922$365
22 years$2,238$1,768$1,383$1,073$826$309
23 years$2,119$1,654$1,277$977$742$263
24 years$2,009$1,550$1,181$891$667$223
25 years$1,908$1,454$1,094$814$600$190
26 years$1,815$1,367$1,015$744$540$162
27 years$1,729$1,286$942$681$487$138
28 years$1,649$1,212$876$624$440$117
29 years$1,575$1,143$815$572$397$100
30 years$1,506$1,080$759$525$359$85
31 years$1,442$1,021$708$483$324$72
32 years$1,382$966$661$443$293$62
33 years$1,325$915$617$408$266$53
34 years$1,272$867$576$375$240$45
35 years$1,222$822$539$345$218$38
36 years$1,175$780$504$318$197$33
37 years$1,131$741$472$293$179$28
38 years$1,089$704$442$270$162$24
39 years$1,049$670$414$249$147$20
40 years$1,012$637$388$230$133$17
41 years$976$607$364$212$121$15
42 years$942$578$341$196$110$13
43 years$910$551$320$181$100$11
44 years$879$525$301$167$90$9
45 years$850$500$282$154$82$8
46 years$822$477$265$142$75$7
47 years$796$456$249$131$68$6
48 years$770$435$234$121$61$5
49 years$746$415$220$112$56$4
50 years$722$397$207$104$51$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $740,000, adding $6,785 every year, while hoping to spend $45,569 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: 32/47/21 Blend
59$740,000$740,000$740,000$740,000
60$822,479$783,259$771,789$843,275
61$857,886$773,153$749,159$849,347
62$895,379$761,026$724,243$851,277
63$935,119$746,728$696,917$852,410
64$977,289$730,105$667,051$852,705
65$1,022,083$710,991$634,509$852,120
66$1,069,718$689,212$599,147$850,613
67$1,120,428$664,582$560,817$848,145
68$1,174,470$636,905$519,363$844,676
69$1,232,128$605,975$474,623$840,168
70$1,293,709$571,572$426,427$834,584
71$1,359,552$533,464$374,597$827,892
72$1,430,029$491,406$318,949$820,062
73$1,505,546$445,139$259,288$811,068
74$1,586,549$394,389$195,412$800,887
75$1,673,530$338,866$127,111$789,506
76$1,767,025$278,265$54,164$776,913
77$1,867,624$212,263$0$763,110
78$1,975,976$140,519$0$753,411
79$2,092,793$62,671$0$755,824
80$2,218,855$0$0$758,289
81$2,355,023$0$0$772,112
82$2,502,239$0$0$822,188
83$2,661,543$0$0$876,469
84$2,834,074$0$0$935,354
85$3,021,086$0$0$999,284
86$3,223,959$0$0$1,068,744
87$3,444,208$0$0$1,144,266
88$3,683,502$0$0$1,226,436
89$3,943,675$0$0$1,315,899
90$4,226,747$0$0$1,413,365
91$4,534,937$0$0$1,519,615
92$4,870,691$0$0$1,635,509
93$5,236,697$0$0$1,761,991
94$5,635,915$0$0$1,900,104
95$6,071,603$0$0$2,050,994
96$6,547,347$0$0$2,215,922
97$7,067,095$0$0$2,396,278
98$7,635,193$0$0$2,593,593
99$8,256,425$0$0$2,809,549
100$8,936,060$0$0$3,046,003