Can I retire at age 60 with 747,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $747,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$61,687$61,137$60,601$60,078$59,567$58,103
2 years$30,538$29,969$29,418$28,884$28,365$26,900
3 years$20,156$19,585$19,035$18,506$17,996$16,574
4 years$14,967$14,397$13,853$13,333$12,835$11,468
5 years$11,854$11,288$10,750$10,241$9,757$8,449
6 years$9,779$9,217$8,688$8,190$7,720$6,472
7 years$8,298$7,741$7,220$6,733$6,279$5,091
8 years$7,187$6,635$6,123$5,648$5,209$4,080
9 years$6,324$5,777$5,274$4,811$4,387$3,317
10 years$5,634$5,092$4,598$4,147$3,738$2,725
11 years$5,069$4,533$4,048$3,609$3,214$2,258
12 years$4,599$4,069$3,592$3,166$2,786$1,883
13 years$4,202$3,677$3,209$2,795$2,429$1,579
14 years$3,862$3,342$2,884$2,481$2,129$1,330
15 years$3,567$3,053$2,604$2,213$1,875$1,125
16 years$3,309$2,801$2,361$1,981$1,657$954
17 years$3,082$2,580$2,148$1,780$1,469$811
18 years$2,881$2,384$1,961$1,604$1,306$691
19 years$2,701$2,209$1,795$1,450$1,164$589
20 years$2,539$2,053$1,647$1,313$1,040$504
21 years$2,392$1,912$1,515$1,191$931$431
22 years$2,260$1,785$1,397$1,083$834$369
23 years$2,139$1,670$1,289$987$749$316
24 years$2,028$1,564$1,193$900$673$272
25 years$1,926$1,468$1,105$822$606$233
26 years$1,832$1,380$1,024$751$546$200
27 years$1,745$1,298$951$688$492$172
28 years$1,665$1,224$884$630$444$148
29 years$1,590$1,154$823$578$401$127
30 years$1,521$1,090$767$530$362$110
31 years$1,456$1,030$715$487$327$94
32 years$1,395$975$667$448$296$81
33 years$1,338$923$623$412$268$70
34 years$1,284$875$582$379$243$60
35 years$1,234$830$544$349$220$52
36 years$1,186$788$509$321$199$45
37 years$1,142$748$476$296$180$38
38 years$1,099$711$446$273$164$33
39 years$1,059$676$418$251$148$29
40 years$1,021$643$392$232$135$25
41 years$985$612$367$214$122$21
42 years$951$583$344$197$111$18
43 years$919$556$323$182$101$16
44 years$888$530$303$168$91$14
45 years$858$505$285$155$83$12
46 years$830$482$268$144$75$10
47 years$803$460$251$133$68$9
48 years$777$439$236$123$62$7
49 years$753$419$222$113$56$6
50 years$729$400$209$105$51$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $747,000, adding $5,024 every year, while hoping to spend $39,298 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: 47/29/24 Blend
59$747,000$747,000$747,000$747,000
60$828,376$788,785$777,207$861,420
61$871,058$785,623$761,430$881,950
62$916,776$780,989$743,808$899,941
63$965,799$774,769$724,238$918,681
64$1,018,420$766,842$702,610$938,258
65$1,074,964$757,082$678,812$958,774
66$1,135,784$745,353$652,725$980,341
67$1,201,269$731,511$624,227$1,003,087
68$1,271,847$715,404$593,188$1,027,154
69$1,347,988$696,871$559,472$1,052,705
70$1,430,208$675,742$522,939$1,079,919
71$1,519,073$651,837$483,441$1,108,999
72$1,615,205$624,965$440,824$1,140,170
73$1,719,291$594,923$394,926$1,173,687
74$1,832,083$561,498$345,580$1,209,832
75$1,954,408$524,464$292,610$1,248,923
76$2,087,177$483,582$235,832$1,291,312
77$2,231,391$438,600$175,054$1,337,394
78$2,388,152$389,250$110,077$1,387,609
79$2,558,670$335,250$40,692$1,442,446
80$2,744,280$276,303$0$1,502,453
81$2,946,448$212,093$0$1,576,777
82$3,166,788$142,288$0$1,669,228
83$3,407,076$66,536$0$1,770,189
84$3,669,268$0$0$1,880,559
85$3,955,515$0$0$2,006,290
86$4,268,188$0$0$2,166,899
87$4,609,893$0$0$2,342,503
88$4,983,501$0$0$2,534,588
89$5,392,175$0$0$2,744,789
90$5,839,395$0$0$2,974,909
91$6,328,994$0$0$3,226,931
92$6,865,192$0$0$3,503,040
93$7,452,638$0$0$3,805,641
94$8,096,450$0$0$4,137,384
95$8,802,265$0$0$4,501,187
96$9,576,293$0$0$4,900,265
97$10,425,372$0$0$5,338,157
98$11,357,034$0$0$5,818,763
99$12,379,577$0$0$6,346,378
100$13,502,138$0$0$6,925,734