Can I retire at age 60 with 689,000?

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 $689,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$56,897$56,390$55,896$55,413$54,942$53,419
2 years$28,167$27,642$27,134$26,641$26,163$24,640
3 years$18,591$18,065$17,557$17,069$16,599$15,123
4 years$13,805$13,279$12,777$12,297$11,838$10,422
5 years$10,933$10,411$9,916$9,446$8,999$7,646
6 years$9,020$8,501$8,013$7,554$7,121$5,831
7 years$7,653$7,140$6,659$6,210$5,791$4,566
8 years$6,629$6,120$5,647$5,210$4,804$3,643
9 years$5,833$5,328$4,864$4,437$4,046$2,947
10 years$5,196$4,697$4,241$3,825$3,447$2,409
11 years$4,676$4,181$3,733$3,329$2,965$1,986
12 years$4,242$3,753$3,313$2,920$2,569$1,648
13 years$3,876$3,392$2,960$2,578$2,240$1,374
14 years$3,562$3,083$2,660$2,288$1,964$1,151
15 years$3,290$2,816$2,401$2,041$1,729$968
16 years$3,053$2,584$2,177$1,827$1,528$816
17 years$2,843$2,380$1,981$1,642$1,355$690
18 years$2,657$2,199$1,809$1,480$1,205$584
19 years$2,491$2,038$1,656$1,337$1,074$495
20 years$2,342$1,894$1,519$1,211$959$421
21 years$2,207$1,764$1,398$1,099$858$358
22 years$2,084$1,647$1,288$999$769$305
23 years$1,973$1,540$1,189$910$691$260
24 years$1,870$1,443$1,100$830$621$221
25 years$1,776$1,354$1,019$758$559$189
26 years$1,690$1,273$945$693$503$161
27 years$1,610$1,198$877$634$454$138
28 years$1,536$1,129$816$581$409$118
29 years$1,467$1,065$759$533$370$100
30 years$1,403$1,005$707$489$334$86
31 years$1,343$950$659$449$302$73
32 years$1,286$899$615$413$273$63
33 years$1,234$852$574$380$247$54
34 years$1,185$807$537$349$224$46
35 years$1,138$766$502$322$203$39
36 years$1,094$727$469$296$184$34
37 years$1,053$690$439$273$166$29
38 years$1,014$656$411$252$151$25
39 years$977$624$385$232$137$21
40 years$942$593$361$214$124$18
41 years$909$565$339$197$113$15
42 years$877$538$318$182$102$13
43 years$847$513$298$168$93$11
44 years$819$489$280$155$84$10
45 years$791$466$263$143$76$8
46 years$765$444$247$132$69$7
47 years$741$424$232$122$63$6
48 years$717$405$218$113$57$5
49 years$694$387$205$104$52$4
50 years$673$369$193$97$47$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $689,000, adding $5,151 every year, while hoping to spend $30,166 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: 77/8/15 Blend
59$689,000$689,000$689,000$689,000
60$764,591$728,074$717,395$820,636
61$810,483$731,654$709,331$861,900
62$860,045$734,397$699,986$902,825
63$913,619$736,232$689,285$946,871
64$971,582$737,082$677,151$994,339
65$1,034,348$736,863$663,499$1,045,561
66$1,102,371$735,489$648,246$1,100,902
67$1,176,152$732,867$631,302$1,160,764
68$1,256,241$728,899$612,572$1,225,593
69$1,343,243$723,480$591,958$1,295,877
70$1,437,823$716,500$569,358$1,372,156
71$1,540,714$707,841$544,664$1,455,025
72$1,652,721$697,380$517,765$1,545,140
73$1,774,731$684,983$488,542$1,643,224
74$1,907,718$670,513$456,873$1,750,074
75$2,052,758$653,820$422,631$1,866,569
76$2,211,030$634,748$385,680$1,993,677
77$2,383,837$613,132$345,882$2,132,467
78$2,572,609$588,797$303,089$2,284,117
79$2,778,923$561,556$257,151$2,449,925
80$3,004,514$531,213$207,906$2,631,322
81$3,251,293$497,560$155,189$2,829,887
82$3,521,363$460,379$98,827$3,047,359
83$3,817,041$419,437$38,636$3,285,656
84$4,140,878$374,488$0$3,546,894
85$4,495,684$325,274$0$3,837,501
86$4,884,551$271,520$0$4,162,815
87$5,310,887$212,936$0$4,519,514
88$5,778,445$149,218$0$4,910,756
89$6,291,358$80,041$0$5,340,020
90$6,854,179$5,065$0$5,811,141
91$7,471,922$0$0$6,328,344
92$8,150,112$0$0$6,902,981
93$8,894,832$0$0$7,534,506
94$9,712,787$0$0$8,228,160
95$10,611,359$0$0$8,990,208
96$11,598,684$0$0$9,827,553
97$12,683,722$0$0$10,747,798
98$13,876,346$0$0$11,759,320
99$15,187,433$0$0$12,871,347
100$16,628,965$0$0$14,094,047