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%13.2%
1 years$61,439$60,892$60,358$59,836$59,328$58,538
2 years$30,415$29,849$29,300$28,768$28,251$27,457
3 years$20,075$19,507$18,959$18,432$17,924$17,149
4 years$14,907$14,339$13,797$13,279$12,783$12,035
5 years$11,806$11,242$10,707$10,200$9,718$8,997
6 years$9,740$9,180$8,653$8,157$7,689$6,998
7 years$8,264$7,709$7,191$6,706$6,253$5,592
8 years$7,158$6,608$6,098$5,626$5,188$4,555
9 years$6,298$5,754$5,252$4,792$4,369$3,765
10 years$5,611$5,072$4,579$4,130$3,723$3,147
11 years$5,049$4,515$4,031$3,595$3,202$2,654
12 years$4,581$4,052$3,578$3,153$2,774$2,254
13 years$4,185$3,662$3,197$2,784$2,419$1,926
14 years$3,846$3,329$2,872$2,471$2,121$1,653
15 years$3,553$3,041$2,593$2,204$1,867$1,425
16 years$3,296$2,790$2,351$1,973$1,650$1,232
17 years$3,070$2,570$2,139$1,773$1,463$1,069
18 years$2,869$2,374$1,953$1,598$1,301$929
19 years$2,690$2,201$1,788$1,444$1,160$809
20 years$2,529$2,045$1,641$1,308$1,036$706
21 years$2,383$1,905$1,509$1,187$927$617
22 years$2,251$1,778$1,391$1,079$831$540
23 years$2,130$1,663$1,284$983$746$474
24 years$2,020$1,558$1,188$896$670$415
25 years$1,918$1,462$1,100$818$603$365
26 years$1,825$1,374$1,020$748$543$320
27 years$1,738$1,293$947$685$490$282
28 years$1,658$1,219$881$628$442$248
29 years$1,584$1,150$820$576$399$218
30 years$1,514$1,086$763$528$361$192
31 years$1,450$1,026$712$485$326$169
32 years$1,389$971$664$446$295$149
33 years$1,332$920$620$410$267$131
34 years$1,279$872$579$377$242$116
35 years$1,229$827$542$347$219$102
36 years$1,182$785$507$320$198$90
37 years$1,137$745$474$295$180$79
38 years$1,095$708$444$272$163$70
39 years$1,055$674$416$250$148$62
40 years$1,017$641$390$231$134$55
41 years$981$610$366$213$122$48
42 years$947$581$343$197$110$43
43 years$915$553$322$182$100$38
44 years$884$528$302$168$91$33
45 years$855$503$284$155$83$29
46 years$827$480$266$143$75$26
47 years$800$458$250$132$68$23
48 years$774$437$235$122$62$20
49 years$750$418$221$113$56$18
50 years$726$399$208$104$51$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $744,000, adding $4,583 every year, while hoping to spend $23,969 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: 80/8/12 Blend
59$744,000$744,000$744,000$744,000
60$824,615$785,183$773,651$888,398
61$883,223$798,155$774,066$943,914
62$947,006$810,958$773,691$1,001,245
63$1,016,466$823,560$772,475$1,063,461
64$1,092,156$835,925$770,363$1,131,042
65$1,174,684$848,014$767,299$1,204,513
66$1,264,721$859,786$763,223$1,284,453
67$1,363,004$871,197$758,072$1,371,502
68$1,470,344$882,199$751,781$1,466,363
69$1,587,635$892,742$744,281$1,569,810
70$1,715,859$902,773$735,501$1,682,698
71$1,856,101$912,232$725,364$1,805,967
72$2,009,552$921,060$713,792$1,940,653
73$2,177,525$929,191$700,702$2,087,898
74$2,361,465$936,554$686,009$2,248,960
75$2,562,965$943,076$669,621$2,425,225
76$2,783,778$948,677$651,444$2,618,220
77$3,025,835$953,274$631,378$2,829,629
78$3,291,262$956,776$609,322$3,061,306
79$3,582,402$959,089$585,165$3,315,295
80$3,901,834$960,111$558,795$3,593,847
81$4,252,399$959,735$530,093$3,899,444
82$4,637,229$957,847$498,936$4,234,822
83$5,059,771$954,326$465,195$4,602,992
84$5,523,822$949,043$428,733$5,007,277
85$6,033,567$941,861$389,411$5,451,336
86$6,593,615$932,637$347,081$5,939,201
87$7,209,044$921,216$301,588$6,475,319
88$7,885,447$907,436$252,772$7,064,587
89$8,628,988$891,125$200,465$7,712,402
90$9,446,455$872,100$144,490$8,424,714
91$10,345,329$850,169$84,666$9,208,078
92$11,333,851$825,126$20,801$10,069,720
93$12,421,101$796,755$0$11,017,600
94$13,617,084$764,826$0$12,066,558
95$14,932,821$729,097$0$13,223,437
96$16,380,458$689,312$0$14,496,255
97$17,973,374$645,198$0$15,896,786
98$19,726,315$596,469$0$17,438,005
99$21,655,525$542,822$0$19,134,207
100$23,778,904$483,936$0$21,001,146