Can I retire at age 60 with 740,000?

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 $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%16.7%
1 years$61,109$60,564$60,033$59,515$59,009$57,396
2 years$30,252$29,688$29,142$28,613$28,099$26,486
3 years$19,967$19,402$18,857$18,333$17,827$16,265
4 years$14,826$14,262$13,723$13,208$12,715$11,214
5 years$11,743$11,182$10,650$10,145$9,665$8,231
6 years$9,687$9,131$8,607$8,113$7,648$6,281
7 years$8,220$7,668$7,152$6,670$6,220$4,921
8 years$7,120$6,573$6,066$5,595$5,160$3,928
9 years$6,265$5,723$5,224$4,766$4,345$3,180
10 years$5,581$5,044$4,555$4,108$3,703$2,601
11 years$5,022$4,491$4,010$3,575$3,184$2,146
12 years$4,556$4,031$3,559$3,136$2,759$1,781
13 years$4,163$3,643$3,179$2,769$2,406$1,487
14 years$3,826$3,311$2,857$2,458$2,109$1,247
15 years$3,534$3,025$2,579$2,192$1,857$1,049
16 years$3,278$2,775$2,338$1,963$1,641$885
17 years$3,054$2,556$2,128$1,763$1,455$748
18 years$2,854$2,362$1,942$1,589$1,294$634
19 years$2,675$2,189$1,778$1,436$1,153$538
20 years$2,515$2,034$1,632$1,301$1,030$458
21 years$2,370$1,894$1,501$1,180$922$389
22 years$2,238$1,768$1,383$1,073$826$332
23 years$2,119$1,654$1,277$977$742$283
24 years$2,009$1,550$1,181$891$667$241
25 years$1,908$1,454$1,094$814$600$206
26 years$1,815$1,367$1,015$744$540$176
27 years$1,729$1,286$942$681$487$150
28 years$1,649$1,212$876$624$440$129
29 years$1,575$1,143$815$572$397$110
30 years$1,506$1,080$759$525$359$94
31 years$1,442$1,021$708$483$324$81
32 years$1,382$966$661$443$293$69
33 years$1,325$915$617$408$266$59
34 years$1,272$867$576$375$240$51
35 years$1,222$822$539$345$218$43
36 years$1,175$780$504$318$197$37
37 years$1,131$741$472$293$179$32
38 years$1,089$704$442$270$162$27
39 years$1,049$670$414$249$147$23
40 years$1,012$637$388$230$133$20
41 years$976$607$364$212$121$17
42 years$942$578$341$196$110$15
43 years$910$551$320$181$100$13
44 years$879$525$301$167$90$11
45 years$850$500$282$154$82$9
46 years$822$477$265$142$75$8
47 years$796$456$249$131$68$7
48 years$770$435$234$121$61$6
49 years$746$415$220$112$56$5
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 $6,144 every year, while hoping to spend $45,484 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: 73/16/11 Blend
59$740,000$740,000$740,000$740,000
60$821,818$782,598$771,128$879,591
61$857,248$772,550$748,566$908,549
62$894,769$760,486$723,724$934,014
63$934,543$746,258$696,477$960,661
64$976,753$729,712$666,695$988,594
65$1,021,596$710,681$634,243$1,017,928
66$1,069,286$688,992$598,978$1,048,792
67$1,120,061$664,460$560,751$1,081,328
68$1,174,178$636,890$519,408$1,115,694
69$1,231,922$606,075$474,785$1,152,064
70$1,293,601$571,796$426,714$1,190,633
71$1,359,557$533,822$375,017$1,231,614
72$1,430,161$491,909$319,510$1,275,246
73$1,505,823$445,798$259,999$1,321,793
74$1,586,991$395,216$196,282$1,371,545
75$1,674,156$339,873$128,150$1,424,828
76$1,767,859$279,466$55,381$1,481,999
77$1,868,691$213,671$0$1,543,455
78$1,977,306$142,149$0$1,612,250
79$2,094,415$64,539$0$1,693,363
80$2,220,806$0$0$1,780,854
81$2,357,341$0$0$1,878,791
82$2,504,968$0$0$1,996,996
83$2,664,729$0$0$2,124,946
84$2,837,769$0$0$2,263,560
85$3,025,349$0$0$2,413,852
86$3,228,853$0$0$2,576,935
87$3,449,804$0$0$2,754,034
88$3,689,877$0$0$2,946,496
89$3,950,916$0$0$3,155,803
90$4,234,949$0$0$3,383,585
91$4,544,205$0$0$3,631,637
92$4,881,141$0$0$3,901,932
93$5,248,456$0$0$4,196,643
94$5,649,125$0$0$4,518,161
95$6,086,421$0$0$4,869,118
96$6,563,944$0$0$5,252,411
97$7,085,661$0$0$5,671,229
98$7,655,938$0$0$6,129,083
99$8,279,580$0$0$6,629,840
100$8,961,880$0$0$7,177,754