Can I retire at age 60 with 673,000?

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 $673,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$55,576$55,081$54,598$54,126$53,666$52,475
2 years$27,513$27,000$26,504$26,022$25,555$24,362
3 years$18,160$17,645$17,150$16,673$16,213$15,054
4 years$13,484$12,971$12,481$12,012$11,563$10,448
5 years$10,679$10,169$9,685$9,226$8,790$7,722
6 years$8,810$8,304$7,827$7,378$6,956$5,934
7 years$7,476$6,974$6,504$6,066$5,657$4,683
8 years$6,475$5,978$5,516$5,089$4,693$3,767
9 years$5,697$5,205$4,751$4,334$3,952$3,073
10 years$5,076$4,588$4,142$3,736$3,367$2,534
11 years$4,567$4,084$3,647$3,252$2,896$2,108
12 years$4,144$3,666$3,236$2,852$2,510$1,765
13 years$3,786$3,313$2,891$2,518$2,188$1,486
14 years$3,479$3,011$2,598$2,235$1,918$1,257
15 years$3,214$2,751$2,346$1,993$1,689$1,067
16 years$2,982$2,524$2,127$1,785$1,493$909
17 years$2,777$2,324$1,935$1,604$1,324$776
18 years$2,596$2,148$1,767$1,445$1,177$664
19 years$2,433$1,991$1,617$1,306$1,049$569
20 years$2,287$1,850$1,484$1,183$937$488
21 years$2,155$1,723$1,365$1,073$838$420
22 years$2,036$1,608$1,258$976$752$361
23 years$1,927$1,504$1,162$889$675$311
24 years$1,827$1,409$1,074$811$606$268
25 years$1,735$1,323$995$740$546$232
26 years$1,651$1,243$923$677$492$200
27 years$1,572$1,170$857$620$443$173
28 years$1,500$1,102$797$568$400$149
29 years$1,433$1,040$741$521$361$129
30 years$1,370$982$691$478$326$111
31 years$1,311$928$644$439$295$96
32 years$1,257$878$601$403$267$83
33 years$1,205$832$561$371$241$72
34 years$1,157$788$524$341$219$62
35 years$1,112$748$490$314$198$54
36 years$1,069$710$458$289$179$47
37 years$1,029$674$429$267$163$41
38 years$990$641$402$246$147$35
39 years$954$609$376$227$134$30
40 years$920$580$353$209$121$26
41 years$888$552$331$193$110$23
42 years$857$525$310$178$100$20
43 years$828$501$291$164$91$17
44 years$800$477$273$152$82$15
45 years$773$455$257$140$75$13
46 years$748$434$241$129$68$11
47 years$723$414$226$120$62$10
48 years$700$396$213$110$56$8
49 years$678$378$200$102$51$7
50 years$657$361$188$94$46$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $673,000, adding $3,770 every year, while hoping to spend $59,741 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: 78/15/7 Blend
59$673,000$673,000$673,000$673,000
60$745,535$709,866$699,434$802,783
61$758,015$681,085$659,301$812,099
62$769,767$648,892$615,822$814,168
63$780,651$613,056$568,820$814,669
64$790,516$573,334$518,114$813,419
65$799,189$529,468$463,511$810,218
66$806,480$481,186$404,812$804,844
67$812,177$428,200$341,809$797,054
68$816,043$370,205$274,284$786,581
69$817,815$306,882$202,009$773,134
70$817,202$237,889$124,746$756,391
71$813,880$162,868$42,248$735,999
72$807,489$81,442$0$711,571
73$797,629$0$0$686,101
74$783,859$0$0$660,414
75$765,687$0$0$644,373
76$742,571$0$0$624,070
77$713,909$0$0$598,985
78$679,035$0$0$568,547
79$637,211$0$0$532,120
80$587,622$0$0$489,004
81$529,365$0$0$438,422
82$461,443$0$0$379,516
83$382,753$0$0$311,337
84$292,074$0$0$232,838
85$188,061$0$0$142,858
86$69,223$0$0$40,118
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0