Can I retire at age 60 with 742,000?

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 $742,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$61,274$60,728$60,195$59,676$59,168$57,137
2 years$30,333$29,769$29,221$28,690$28,175$26,150
3 years$20,021$19,454$18,908$18,382$17,876$15,919
4 years$14,866$14,301$13,760$13,243$12,749$10,877
5 years$11,774$11,212$10,678$10,172$9,692$7,908
6 years$9,713$9,155$8,630$8,135$7,669$5,976
7 years$8,242$7,689$7,171$6,688$6,237$4,634
8 years$7,139$6,591$6,082$5,610$5,174$3,660
9 years$6,281$5,738$5,238$4,779$4,357$2,930
10 years$5,596$5,058$4,567$4,119$3,713$2,370
11 years$5,035$4,503$4,021$3,585$3,193$1,932
12 years$4,569$4,042$3,568$3,145$2,767$1,585
13 years$4,174$3,652$3,188$2,776$2,413$1,307
14 years$3,836$3,320$2,864$2,464$2,115$1,082
15 years$3,543$3,033$2,586$2,198$1,862$899
16 years$3,287$2,783$2,345$1,968$1,646$749
17 years$3,062$2,563$2,134$1,768$1,459$625
18 years$2,862$2,368$1,948$1,593$1,298$523
19 years$2,683$2,195$1,783$1,440$1,157$438
20 years$2,522$2,039$1,636$1,304$1,033$367
21 years$2,376$1,900$1,505$1,184$924$308
22 years$2,245$1,773$1,387$1,076$829$259
23 years$2,124$1,658$1,281$980$744$217
24 years$2,014$1,554$1,185$894$669$183
25 years$1,913$1,458$1,097$816$602$154
26 years$1,820$1,370$1,018$746$542$130
27 years$1,734$1,290$945$683$489$109
28 years$1,654$1,215$878$626$441$92
29 years$1,580$1,147$817$574$398$78
30 years$1,510$1,083$761$527$360$65
31 years$1,446$1,024$710$484$325$55
32 years$1,385$969$662$445$294$46
33 years$1,329$917$618$409$266$39
34 years$1,276$869$578$376$241$33
35 years$1,226$825$540$346$218$28
36 years$1,178$783$505$319$198$24
37 years$1,134$743$473$294$179$20
38 years$1,092$706$443$271$163$17
39 years$1,052$672$415$250$147$14
40 years$1,014$639$389$230$134$12
41 years$979$608$365$213$121$10
42 years$945$579$342$196$110$8
43 years$912$552$321$181$100$7
44 years$882$526$301$167$91$6
45 years$852$502$283$154$82$5
46 years$824$479$266$143$75$4
47 years$798$457$250$132$68$4
48 years$772$436$235$122$62$3
49 years$748$416$221$113$56$3
50 years$724$398$207$104$51$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $742,000, adding $4,931 every year, while hoping to spend $20,222 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: 69/11/20 Blend
59$742,000$742,000$742,000$742,000
60$822,770$783,444$771,943$875,161
61$885,177$800,317$776,287$927,652
62$953,271$817,339$780,099$982,238
63$1,027,612$834,495$783,340$1,041,472
64$1,108,814$851,772$785,967$1,105,813
65$1,197,555$869,151$787,939$1,175,764
66$1,294,581$886,614$789,210$1,251,882
67$1,400,711$904,141$789,732$1,334,777
68$1,516,851$921,711$789,455$1,425,125
69$1,643,995$939,300$788,327$1,523,668
70$1,783,239$956,882$786,292$1,631,226
71$1,935,789$974,430$783,293$1,748,701
72$2,102,976$991,913$779,270$1,877,089
73$2,286,262$1,009,299$774,158$2,017,484
74$2,487,261$1,026,555$767,892$2,171,096
75$2,707,746$1,043,641$760,402$2,339,256
76$2,949,676$1,060,518$751,614$2,523,432
77$3,215,202$1,077,143$741,453$2,725,240
78$3,506,699$1,093,470$729,838$2,946,463
79$3,826,781$1,109,448$716,686$3,189,067
80$4,178,326$1,125,025$701,908$3,455,215
81$4,564,507$1,140,143$685,414$3,747,296
82$4,988,819$1,154,742$667,107$4,067,938
83$5,455,110$1,168,756$646,887$4,420,042
84$5,967,622$1,182,116$624,649$4,806,801
85$6,531,027$1,194,747$600,282$5,231,738
86$7,150,473$1,206,571$573,673$5,698,734
87$7,831,631$1,217,502$544,700$6,212,067
88$8,580,748$1,227,451$513,239$6,776,451
89$9,404,710$1,236,322$479,158$7,397,083
90$10,311,101$1,244,012$442,320$8,079,691
91$11,308,278$1,250,413$402,582$8,830,586
92$12,405,448$1,255,409$359,795$9,656,727
93$13,612,757$1,258,877$313,801$10,565,780
94$14,941,383$1,260,687$264,438$11,566,197
95$16,403,643$1,260,699$211,536$12,667,292
96$18,013,107$1,258,767$154,915$13,879,331
97$19,784,731$1,254,733$94,391$15,213,627
98$21,734,990$1,248,431$29,770$16,682,652
99$23,882,040$1,239,686$0$18,300,147
100$26,245,887$1,228,309$0$20,089,623