Can I retire at age 60 with 741,000?

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 $741,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$61,191$60,646$60,114$59,595$59,088$58,618
2 years$30,293$29,728$29,182$28,652$28,137$27,663
3 years$19,994$19,428$18,882$18,357$17,851$17,388
4 years$14,846$14,282$13,742$13,225$12,732$12,283
5 years$11,758$11,197$10,664$10,158$9,679$9,245
6 years$9,700$9,143$8,618$8,124$7,658$7,241
7 years$8,231$7,678$7,162$6,679$6,228$5,828
8 years$7,129$6,582$6,074$5,603$5,167$4,783
9 years$6,273$5,731$5,231$4,772$4,351$3,984
10 years$5,588$5,051$4,561$4,114$3,708$3,356
11 years$5,029$4,497$4,015$3,580$3,189$2,854
12 years$4,562$4,036$3,563$3,140$2,763$2,444
13 years$4,168$3,647$3,184$2,772$2,410$2,105
14 years$3,831$3,315$2,861$2,461$2,112$1,823
15 years$3,538$3,029$2,583$2,195$1,860$1,585
16 years$3,283$2,779$2,342$1,965$1,644$1,383
17 years$3,058$2,559$2,131$1,766$1,457$1,210
18 years$2,858$2,365$1,945$1,591$1,296$1,062
19 years$2,679$2,192$1,781$1,438$1,155$934
20 years$2,518$2,037$1,634$1,302$1,032$823
21 years$2,373$1,897$1,503$1,182$923$726
22 years$2,242$1,771$1,385$1,075$828$642
23 years$2,121$1,656$1,279$979$743$568
24 years$2,011$1,552$1,183$893$668$503
25 years$1,910$1,456$1,096$815$601$446
26 years$1,817$1,369$1,016$745$541$396
27 years$1,731$1,288$944$682$488$352
28 years$1,652$1,214$877$625$440$313
29 years$1,577$1,145$816$573$398$278
30 years$1,508$1,081$760$526$359$248
31 years$1,444$1,022$709$483$325$220
32 years$1,384$967$661$444$294$196
33 years$1,327$916$618$408$266$175
34 years$1,274$868$577$376$241$156
35 years$1,224$823$539$346$218$139
36 years$1,177$782$505$319$198$124
37 years$1,132$742$472$293$179$111
38 years$1,090$705$442$270$162$99
39 years$1,051$671$414$249$147$88
40 years$1,013$638$388$230$134$79
41 years$977$608$364$212$121$70
42 years$943$579$342$196$110$63
43 years$911$551$321$181$100$56
44 years$880$525$301$167$91$50
45 years$851$501$283$154$82$45
46 years$823$478$265$142$75$40
47 years$797$456$249$132$68$36
48 years$771$435$234$122$62$32
49 years$747$416$220$112$56$28
50 years$723$397$207$104$51$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $741,000, adding $3,351 every year, while hoping to spend $35,494 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: 42/43/15 Blend
59$741,000$741,000$741,000$741,000
60$820,039$780,766$769,280$850,746
61$865,917$781,258$757,286$873,185
62$915,286$780,584$743,700$893,706
63$968,463$778,651$728,432$915,165
64$1,025,798$775,357$711,386$937,661
65$1,087,676$770,596$692,464$961,309
66$1,154,519$764,255$671,562$986,239
67$1,226,791$756,215$648,570$1,012,594
68$1,305,001$746,347$623,375$1,040,535
69$1,389,711$734,518$595,858$1,070,242
70$1,481,537$720,584$565,894$1,101,918
71$1,581,157$704,396$533,354$1,135,787
72$1,689,315$685,791$498,102$1,172,102
73$1,806,832$664,602$459,995$1,211,144
74$1,934,610$640,649$418,886$1,253,226
75$2,073,641$613,741$374,620$1,298,699
76$2,225,017$583,679$327,034$1,347,951
77$2,389,939$550,249$275,960$1,401,417
78$2,569,729$513,228$221,221$1,459,580
79$2,765,842$472,377$162,632$1,522,979
80$2,979,879$427,445$100,002$1,592,211
81$3,213,604$378,167$33,129$1,667,941
82$3,468,957$324,262$0$1,750,909
83$3,748,074$265,435$0$1,848,056
84$4,053,307$201,371$0$1,960,230
85$4,387,247$131,740$0$2,083,173
86$4,752,744$56,193$0$2,218,048
87$5,152,939$0$0$2,366,140
88$5,591,289$0$0$2,541,005
89$6,071,603$0$0$2,761,838
90$6,598,074$0$0$3,003,986
91$7,175,320$0$0$3,269,588
92$7,808,430$0$0$3,560,997
93$8,503,005$0$0$3,880,802
94$9,265,217$0$0$4,231,861
95$10,101,865$0$0$4,617,317
96$11,020,436$0$0$5,040,634
97$12,029,179$0$0$5,505,628
98$13,137,180$0$0$6,016,504
99$14,354,450$0$0$6,577,892
100$15,692,016$0$0$7,194,895