Can I retire at age 60 with 744,000?

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 $744,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$61,439$60,892$60,358$59,836$59,328$58,489
2 years$30,415$29,849$29,300$28,768$28,251$27,408
3 years$20,075$19,507$18,959$18,432$17,924$17,102
4 years$14,907$14,339$13,797$13,279$12,783$11,990
5 years$11,806$11,242$10,707$10,200$9,718$8,954
6 years$9,740$9,180$8,653$8,157$7,689$6,957
7 years$8,264$7,709$7,191$6,706$6,253$5,553
8 years$7,158$6,608$6,098$5,626$5,188$4,518
9 years$6,298$5,754$5,252$4,792$4,369$3,730
10 years$5,611$5,072$4,579$4,130$3,723$3,114
11 years$5,049$4,515$4,031$3,595$3,202$2,623
12 years$4,581$4,052$3,578$3,153$2,774$2,225
13 years$4,185$3,662$3,197$2,784$2,419$1,899
14 years$3,846$3,329$2,872$2,471$2,121$1,628
15 years$3,553$3,041$2,593$2,204$1,867$1,401
16 years$3,296$2,790$2,351$1,973$1,650$1,210
17 years$3,070$2,570$2,139$1,773$1,463$1,048
18 years$2,869$2,374$1,953$1,598$1,301$910
19 years$2,690$2,201$1,788$1,444$1,160$791
20 years$2,529$2,045$1,641$1,308$1,036$690
21 years$2,383$1,905$1,509$1,187$927$602
22 years$2,251$1,778$1,391$1,079$831$526
23 years$2,130$1,663$1,284$983$746$460
24 years$2,020$1,558$1,188$896$670$403
25 years$1,918$1,462$1,100$818$603$353
26 years$1,825$1,374$1,020$748$543$310
27 years$1,738$1,293$947$685$490$272
28 years$1,658$1,219$881$628$442$239
29 years$1,584$1,150$820$576$399$210
30 years$1,514$1,086$763$528$361$184
31 years$1,450$1,026$712$485$326$162
32 years$1,389$971$664$446$295$143
33 years$1,332$920$620$410$267$126
34 years$1,279$872$579$377$242$111
35 years$1,229$827$542$347$219$97
36 years$1,182$785$507$320$198$86
37 years$1,137$745$474$295$180$75
38 years$1,095$708$444$272$163$66
39 years$1,055$674$416$250$148$59
40 years$1,017$641$390$231$134$52
41 years$981$610$366$213$122$45
42 years$947$581$343$197$110$40
43 years$915$553$322$182$100$35
44 years$884$528$302$168$91$31
45 years$855$503$284$155$83$27
46 years$827$480$266$143$75$24
47 years$800$458$250$132$68$21
48 years$774$437$235$122$62$19
49 years$750$418$221$113$56$17
50 years$726$399$208$104$51$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $744,000, adding $3,872 every year, while hoping to spend $24,390 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: 77/9/14 Blend
59$744,000$744,000$744,000$744,000
60$823,882$784,450$772,918$884,640
61$881,967$796,937$772,860$937,723
62$945,160$809,219$771,983$992,448
63$1,013,954$821,259$770,233$1,051,781
64$1,088,897$833,020$767,554$1,116,171
65$1,170,586$844,459$763,889$1,186,116
66$1,259,682$855,534$759,175$1,262,162
67$1,356,911$866,197$753,349$1,344,912
68$1,463,073$876,398$746,344$1,435,031
69$1,579,048$886,083$738,088$1,533,249
70$1,705,804$895,194$728,507$1,640,373
71$1,844,409$903,672$717,525$1,757,291
72$1,996,038$911,450$705,061$1,884,982
73$2,161,982$918,460$691,029$2,024,525
74$2,343,667$924,627$675,341$2,177,108
75$2,542,660$929,873$657,904$2,344,041
76$2,760,689$934,114$638,621$2,526,768
77$2,999,655$937,261$617,391$2,726,880
78$3,261,652$939,220$594,106$2,946,129
79$3,548,989$939,890$568,657$3,186,448
80$3,864,205$939,164$540,926$3,449,966
81$4,210,100$936,929$510,793$3,739,029
82$4,589,756$933,064$478,131$4,056,225
83$5,006,569$927,442$442,806$4,404,403
84$5,464,280$919,928$404,680$4,786,705
85$5,967,009$910,376$363,610$5,206,592
86$6,519,295$898,637$319,442$5,667,881
87$7,126,140$884,546$272,020$6,174,777
88$7,793,052$867,935$221,179$6,731,915
89$8,526,101$848,621$166,746$7,344,402
90$9,331,972$826,413$108,541$8,017,868
91$10,218,033$801,107$46,377$8,758,519
92$11,192,399$772,488$0$9,573,192
93$12,264,013$740,329$0$10,472,406
94$13,442,726$704,389$0$11,469,072
95$14,739,393$664,413$0$12,565,442
96$16,165,974$620,132$0$13,771,639
97$17,735,645$571,260$0$15,098,815
98$19,462,927$517,497$0$16,559,265
99$21,363,815$458,525$0$18,166,530
100$23,455,938$394,006$0$19,935,537