Can I retire at age 60 with 690,000?

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 $690,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$56,980$56,472$55,977$55,494$55,022$53,757
2 years$28,208$27,682$27,173$26,680$26,201$24,934
3 years$18,618$18,091$17,583$17,094$16,623$15,393
4 years$13,825$13,299$12,796$12,315$11,856$10,672
5 years$10,949$10,426$9,930$9,459$9,012$7,879
6 years$9,033$8,514$8,025$7,565$7,131$6,049
7 years$7,664$7,150$6,669$6,219$5,800$4,768
8 years$6,639$6,129$5,656$5,217$4,811$3,831
9 years$5,841$5,336$4,871$4,444$4,052$3,122
10 years$5,204$4,704$4,247$3,831$3,452$2,571
11 years$4,682$4,187$3,739$3,334$2,969$2,136
12 years$4,248$3,758$3,318$2,924$2,573$1,786
13 years$3,881$3,396$2,965$2,582$2,244$1,502
14 years$3,567$3,087$2,664$2,292$1,967$1,269
15 years$3,295$2,820$2,405$2,044$1,732$1,075
16 years$3,057$2,588$2,180$1,830$1,531$915
17 years$2,847$2,383$1,984$1,644$1,357$780
18 years$2,661$2,202$1,811$1,482$1,207$666
19 years$2,495$2,041$1,658$1,339$1,075$570
20 years$2,345$1,896$1,522$1,213$961$489
21 years$2,210$1,766$1,400$1,101$860$419
22 years$2,087$1,649$1,290$1,001$771$360
23 years$1,975$1,542$1,191$911$692$310
24 years$1,873$1,445$1,102$831$622$267
25 years$1,779$1,356$1,020$759$559$230
26 years$1,692$1,274$946$694$504$198
27 years$1,612$1,199$879$635$454$171
28 years$1,538$1,130$817$582$410$147
29 years$1,469$1,066$760$534$370$127
30 years$1,405$1,007$708$490$334$110
31 years$1,345$952$660$450$302$95
32 years$1,288$901$616$413$274$82
33 years$1,236$853$575$380$248$71
34 years$1,186$808$537$350$224$61
35 years$1,140$767$502$322$203$53
36 years$1,096$728$470$297$184$46
37 years$1,055$691$440$273$167$39
38 years$1,015$657$412$252$151$34
39 years$978$625$386$232$137$29
40 years$943$594$362$214$124$26
41 years$910$566$339$198$113$22
42 years$878$539$318$182$102$19
43 years$848$513$299$168$93$16
44 years$820$489$280$155$84$14
45 years$793$467$263$144$77$12
46 years$767$445$247$133$69$11
47 years$742$425$232$123$63$9
48 years$718$406$218$113$57$8
49 years$695$387$205$105$52$7
50 years$674$370$193$97$47$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $690,000, adding $3,012 every year, while hoping to spend $23,627 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: 69/8/23 Blend
59$690,000$690,000$690,000$690,000
60$763,487$726,917$716,222$811,538
61$816,224$737,397$715,076$854,561
62$873,548$747,598$713,101$898,601
63$935,902$757,483$710,242$946,230
64$1,003,774$767,010$706,445$997,805
65$1,077,699$776,134$701,651$1,053,714
66$1,158,269$784,809$695,801$1,114,388
67$1,246,132$792,984$688,830$1,180,302
68$1,342,003$800,606$680,671$1,251,979
69$1,446,669$807,617$671,256$1,329,996
70$1,560,996$813,957$660,510$1,414,989
71$1,685,938$819,561$648,357$1,507,660
72$1,822,544$824,360$634,717$1,608,781
73$1,971,970$828,280$619,507$1,719,207
74$2,135,488$831,244$602,638$1,839,876
75$2,314,501$833,167$584,018$1,971,826
76$2,510,550$833,962$563,553$2,116,200
77$2,725,335$833,535$541,141$2,274,258
78$2,960,727$831,787$516,678$2,447,391
79$3,218,788$828,611$490,053$2,637,130
80$3,501,787$823,896$461,153$2,845,165
81$3,812,225$817,523$429,857$3,073,359
82$4,152,855$809,364$396,040$3,323,764
83$4,526,710$799,287$359,571$3,598,647
84$4,937,132$787,149$320,314$3,900,502
85$5,387,801$772,801$278,126$4,232,081
86$5,882,771$756,083$232,858$4,596,420
87$6,426,509$736,826$184,354$4,996,862
88$7,023,934$714,852$132,451$5,437,096
89$7,680,467$689,971$76,980$5,921,187
90$8,402,080$661,985$17,764$6,453,617
91$9,195,350$630,680$0$7,039,326
92$10,067,526$595,834$0$7,694,911
93$11,026,593$557,209$0$8,420,602
94$12,081,348$514,555$0$9,218,705
95$13,241,485$467,608$0$10,096,567
96$14,517,683$416,087$0$11,062,284
97$15,921,708$359,696$0$12,124,780
98$17,466,525$298,125$0$13,293,884
99$19,166,419$231,041$0$14,580,431
100$21,037,129$158,097$0$15,996,360