Can I retire at age 60 with 743,000?

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 $743,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$61,356$60,810$60,277$59,756$59,248$57,466
2 years$30,374$29,809$29,260$28,729$28,213$26,433
3 years$20,048$19,480$18,933$18,407$17,900$16,177
4 years$14,886$14,320$13,779$13,261$12,766$11,115
5 years$11,790$11,227$10,693$10,186$9,705$8,128
6 years$9,727$9,168$8,641$8,146$7,679$6,179
7 years$8,253$7,699$7,181$6,697$6,245$4,822
8 years$7,149$6,600$6,090$5,618$5,181$3,833
9 years$6,290$5,746$5,245$4,785$4,363$3,089
10 years$5,603$5,065$4,573$4,125$3,718$2,516
11 years$5,042$4,509$4,026$3,590$3,197$2,066
12 years$4,575$4,047$3,573$3,149$2,771$1,708
13 years$4,179$3,657$3,192$2,780$2,416$1,419
14 years$3,841$3,324$2,868$2,468$2,118$1,184
15 years$3,548$3,037$2,590$2,201$1,865$991
16 years$3,292$2,786$2,348$1,971$1,648$832
17 years$3,066$2,566$2,136$1,771$1,461$700
18 years$2,865$2,371$1,950$1,596$1,299$590
19 years$2,686$2,198$1,785$1,442$1,158$498
20 years$2,525$2,042$1,639$1,306$1,034$421
21 years$2,380$1,902$1,507$1,185$926$357
22 years$2,248$1,776$1,389$1,078$830$302
23 years$2,127$1,661$1,283$981$745$256
24 years$2,017$1,556$1,186$895$669$217
25 years$1,916$1,460$1,099$817$602$185
26 years$1,822$1,372$1,019$747$543$157
27 years$1,736$1,292$946$684$489$133
28 years$1,656$1,217$880$627$441$113
29 years$1,582$1,148$819$575$399$96
30 years$1,512$1,084$762$527$360$82
31 years$1,448$1,025$711$484$326$70
32 years$1,387$970$663$445$295$59
33 years$1,331$918$619$409$267$50
34 years$1,277$870$579$377$241$43
35 years$1,227$826$541$347$219$37
36 years$1,180$784$506$319$198$31
37 years$1,136$744$474$294$180$27
38 years$1,093$707$444$271$163$23
39 years$1,054$673$416$250$148$19
40 years$1,016$640$389$231$134$16
41 years$980$609$365$213$121$14
42 years$946$580$343$196$110$12
43 years$914$553$321$181$100$10
44 years$883$527$302$167$91$9
45 years$853$502$283$155$82$7
46 years$825$479$266$143$75$6
47 years$799$457$250$132$68$5
48 years$773$437$235$122$62$5
49 years$749$417$221$113$56$4
50 years$725$398$208$104$51$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $743,000, adding $2,379 every year, while hoping to spend $52,514 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: 43/36/21 Blend
59$743,000$743,000$743,000$743,000
60$821,240$781,861$770,344$851,438
61$849,132$764,298$740,276$855,494
62$878,109$744,114$707,441$854,597
63$908,226$721,125$671,690$852,552
64$939,542$695,138$632,869$849,281
65$972,121$665,945$590,816$844,700
66$1,006,031$633,329$545,362$838,723
67$1,041,344$597,060$496,329$831,258
68$1,078,139$556,894$443,534$822,213
69$1,116,500$512,573$386,783$811,486
70$1,156,518$463,825$325,876$798,975
71$1,198,292$410,361$260,601$784,572
72$1,241,926$351,877$190,740$768,165
73$1,287,535$288,052$116,063$749,637
74$1,335,243$218,546$36,330$728,866
75$1,385,183$143,000$0$705,726
76$1,437,500$61,035$0$691,011
77$1,492,351$0$0$683,058
78$1,549,905$0$0$684,631
79$1,610,349$0$0$711,704
80$1,673,881$0$0$740,191
81$1,740,721$0$0$770,194
82$1,811,106$0$0$801,825
83$1,885,294$0$0$835,204
84$1,963,568$0$0$870,462
85$2,046,234$0$0$907,745
86$2,133,626$0$0$947,207
87$2,226,111$0$0$989,021
88$2,324,087$0$0$1,033,374
89$2,427,991$0$0$1,080,470
90$2,538,298$0$0$1,130,534
91$2,655,530$0$0$1,183,809
92$2,780,258$0$0$1,240,564
93$2,913,104$0$0$1,301,093
94$3,054,752$0$0$1,365,716
95$3,205,950$0$0$1,434,786
96$3,367,518$0$0$1,508,688
97$3,540,355$0$0$1,587,847
98$3,725,446$0$0$1,672,726
99$3,923,872$0$0$1,763,835
100$4,136,817$0$0$1,861,732