Can I retire at age 60 with 671,000?

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 $671,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$55,411$54,917$54,435$53,965$53,506$53,214
2 years$27,431$26,920$26,425$25,945$25,479$25,184
3 years$18,106$17,593$17,099$16,623$16,165$15,876
4 years$13,444$12,932$12,443$11,976$11,529$11,249
5 years$10,648$10,139$9,657$9,199$8,764$8,494
6 years$8,784$8,279$7,804$7,356$6,935$6,674
7 years$7,453$6,953$6,485$6,048$5,640$5,389
8 years$6,456$5,960$5,500$5,074$4,679$4,438
9 years$5,680$5,189$4,737$4,322$3,940$3,710
10 years$5,060$4,574$4,130$3,725$3,357$3,137
11 years$4,554$4,072$3,636$3,242$2,887$2,676
12 years$4,131$3,655$3,227$2,844$2,502$2,301
13 years$3,774$3,303$2,883$2,511$2,182$1,990
14 years$3,469$3,002$2,590$2,229$1,913$1,730
15 years$3,204$2,743$2,339$1,988$1,684$1,510
16 years$2,973$2,516$2,120$1,780$1,488$1,323
17 years$2,769$2,317$1,929$1,599$1,320$1,163
18 years$2,588$2,141$1,761$1,441$1,173$1,025
19 years$2,426$1,985$1,612$1,302$1,046$905
20 years$2,281$1,844$1,480$1,179$934$801
21 years$2,149$1,718$1,361$1,070$836$710
22 years$2,030$1,604$1,254$973$749$630
23 years$1,921$1,500$1,158$886$673$560
24 years$1,821$1,405$1,071$808$605$499
25 years$1,730$1,319$992$738$544$444
26 years$1,646$1,239$920$675$490$396
27 years$1,568$1,166$854$618$442$354
28 years$1,496$1,099$794$566$399$316
29 years$1,428$1,037$739$519$360$282
30 years$1,366$979$689$476$325$252
31 years$1,307$926$642$438$294$226
32 years$1,253$876$599$402$266$202
33 years$1,202$829$559$370$241$181
34 years$1,154$786$522$340$218$162
35 years$1,108$746$488$313$197$145
36 years$1,066$708$457$288$179$130
37 years$1,025$672$428$266$162$117
38 years$987$639$401$245$147$105
39 years$951$607$375$226$133$94
40 years$917$578$352$208$121$84
41 years$885$550$330$192$110$76
42 years$854$524$309$177$100$68
43 years$825$499$290$164$90$61
44 years$797$476$273$151$82$55
45 years$771$454$256$140$74$49
46 years$745$433$240$129$68$44
47 years$721$413$226$119$61$40
48 years$698$394$212$110$56$35
49 years$676$377$199$102$51$32
50 years$655$360$187$94$46$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $671,000, adding $4,292 every year, while hoping to spend $27,635 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: 64/19/17 Blend
59$671,000$671,000$671,000$671,000
60$743,869$708,306$697,906$788,072
61$790,340$713,610$691,882$823,562
62$840,626$718,247$684,731$858,769
63$895,084$722,156$676,384$896,567
64$954,112$725,271$666,772$937,210
65$1,018,145$727,523$655,822$980,977
66$1,087,660$728,836$643,457$1,028,178
67$1,163,184$729,131$629,595$1,079,154
68$1,245,296$728,326$614,154$1,134,282
69$1,334,633$726,331$597,045$1,193,978
70$1,431,895$723,050$578,175$1,258,701
71$1,537,853$718,385$557,449$1,328,958
72$1,653,356$712,227$534,765$1,405,309
73$1,779,338$704,466$510,019$1,488,371
74$1,916,826$694,980$483,100$1,578,827
75$2,066,951$683,643$453,894$1,677,427
76$2,230,960$670,321$422,278$1,785,004
77$2,410,222$654,872$388,129$1,902,474
78$2,606,248$637,144$351,315$2,030,848
79$2,820,700$616,978$311,698$2,171,242
80$3,055,406$594,205$269,135$2,324,889
81$3,312,384$568,647$223,477$2,493,148
82$3,593,850$540,114$174,567$2,677,519
83$3,902,250$508,407$122,242$2,879,657
84$4,240,274$473,313$66,332$3,101,388
85$4,610,887$434,610$6,659$3,344,727
86$5,017,352$392,061$0$3,611,897
87$5,463,265$345,415$0$3,915,693
88$5,952,587$294,410$0$4,250,438
89$6,489,681$238,765$0$4,617,945
90$7,079,350$178,187$0$5,021,542
91$7,726,889$112,363$0$5,464,902
92$8,438,129$40,966$0$5,952,071
93$9,219,492$0$0$6,487,510
94$10,078,056$0$0$7,083,736
95$11,021,616$0$0$7,748,450
96$12,058,760$0$0$8,479,144
97$13,198,951$0$0$9,282,489
98$14,452,612$0$0$10,165,838
99$15,831,229$0$0$11,137,289
100$17,347,455$0$0$12,205,766