Can I retire at age 60 with 674,000?

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 $674,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$55,658$55,163$54,679$54,207$53,746$53,497
2 years$27,554$27,040$26,543$26,061$25,593$25,342
3 years$18,187$17,671$17,175$16,697$16,237$15,992
4 years$13,504$12,990$12,499$12,030$11,581$11,342
5 years$10,695$10,184$9,700$9,240$8,803$8,573
6 years$8,823$8,316$7,839$7,389$6,966$6,744
7 years$7,487$6,984$6,514$6,075$5,665$5,451
8 years$6,485$5,987$5,525$5,096$4,700$4,495
9 years$5,706$5,212$4,758$4,341$3,958$3,761
10 years$5,083$4,595$4,148$3,742$3,372$3,184
11 years$4,574$4,090$3,652$3,257$2,900$2,720
12 years$4,150$3,671$3,241$2,856$2,513$2,341
13 years$3,791$3,318$2,896$2,522$2,192$2,027
14 years$3,484$3,016$2,602$2,239$1,921$1,765
15 years$3,218$2,755$2,349$1,996$1,692$1,543
16 years$2,986$2,528$2,130$1,788$1,495$1,353
17 years$2,781$2,328$1,938$1,606$1,326$1,191
18 years$2,599$2,151$1,769$1,447$1,179$1,051
19 years$2,437$1,993$1,620$1,308$1,051$929
20 years$2,291$1,852$1,486$1,185$938$824
21 years$2,159$1,725$1,367$1,075$840$731
22 years$2,039$1,611$1,260$977$753$650
23 years$1,930$1,506$1,163$890$676$579
24 years$1,830$1,411$1,076$812$607$516
25 years$1,738$1,325$997$741$546$461
26 years$1,653$1,245$924$678$492$411
27 years$1,575$1,172$858$621$444$368
28 years$1,502$1,104$798$569$400$329
29 years$1,435$1,041$743$521$362$294
30 years$1,372$984$692$479$327$264
31 years$1,313$930$645$439$295$236
32 years$1,258$880$602$404$267$212
33 years$1,207$833$562$371$242$190
34 years$1,159$790$525$342$219$170
35 years$1,113$749$491$315$198$153
36 years$1,070$711$459$290$180$137
37 years$1,030$675$430$267$163$123
38 years$992$642$402$246$148$111
39 years$956$610$377$227$134$100
40 years$921$581$353$209$121$89
41 years$889$553$331$193$110$80
42 years$858$526$311$178$100$72
43 years$829$501$292$164$91$65
44 years$801$478$274$152$82$58
45 years$774$456$257$140$75$53
46 years$749$435$241$130$68$47
47 years$725$415$227$120$62$42
48 years$701$396$213$111$56$38
49 years$679$378$200$102$51$34
50 years$658$361$188$94$46$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $674,000, adding $4,384 every year, while hoping to spend $41,595 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: 67/19/14 Blend
59$674,000$674,000$674,000$674,000
60$747,270$711,548$701,101$794,628
61$779,235$702,157$680,331$817,368
62$813,066$690,912$657,471$836,913
63$848,910$677,678$632,408$857,233
64$886,927$662,312$605,021$878,399
65$927,291$644,663$575,187$900,493
66$970,194$624,571$542,776$923,606
67$1,015,846$601,867$507,651$947,839
68$1,064,474$576,371$469,669$973,305
69$1,116,331$547,893$428,684$1,000,129
70$1,171,691$516,234$384,538$1,028,453
71$1,230,854$481,180$337,071$1,058,433
72$1,294,151$442,508$286,113$1,090,243
73$1,361,943$399,979$231,486$1,124,078
74$1,434,627$353,344$173,007$1,160,154
75$1,512,639$302,338$110,483$1,198,712
76$1,596,456$246,681$43,712$1,240,021
77$1,686,602$186,076$0$1,284,377
78$1,783,654$120,212$0$1,336,227
79$1,888,243$48,758$0$1,399,061
80$2,001,063$0$0$1,466,784
81$2,122,879$0$0$1,545,873
82$2,254,527$0$0$1,642,396
83$2,396,929$0$0$1,746,838
84$2,551,098$0$0$1,859,945
85$2,718,148$0$0$1,982,540
86$2,899,302$0$0$2,115,526
87$3,095,906$0$0$2,259,895
88$3,309,442$0$0$2,416,740
89$3,541,538$0$0$2,587,262
90$3,793,985$0$0$2,772,785
91$4,068,755$0$0$2,974,762
92$4,368,017$0$0$3,194,794
93$4,694,157$0$0$3,434,642
94$5,049,803$0$0$3,696,246
95$5,437,845$0$0$3,981,738
96$5,861,465$0$0$4,293,466
97$6,324,167$0$0$4,634,018
98$6,829,807$0$0$5,006,238
99$7,382,630$0$0$5,413,260
100$7,987,311$0$0$5,858,535