Can I retire at age 60 with 691,000?

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 $691,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$57,062$56,554$56,058$55,574$55,101$53,660
2 years$28,249$27,722$27,213$26,718$26,239$24,797
3 years$18,645$18,117$17,608$17,119$16,647$15,249
4 years$13,845$13,318$12,814$12,333$11,873$10,530
5 years$10,965$10,441$9,944$9,473$9,025$7,741
6 years$9,046$8,526$8,037$7,576$7,142$5,917
7 years$7,676$7,160$6,678$6,228$5,808$4,644
8 years$6,648$6,138$5,664$5,225$4,818$3,713
9 years$5,850$5,344$4,878$4,450$4,058$3,011
10 years$5,211$4,710$4,253$3,836$3,457$2,468
11 years$4,689$4,193$3,744$3,339$2,973$2,040
12 years$4,255$3,764$3,323$2,928$2,577$1,697
13 years$3,887$3,401$2,969$2,585$2,247$1,419
14 years$3,572$3,092$2,668$2,295$1,970$1,192
15 years$3,300$2,824$2,408$2,047$1,734$1,005
16 years$3,061$2,591$2,184$1,833$1,533$850
17 years$2,851$2,386$1,987$1,647$1,359$720
18 years$2,665$2,205$1,814$1,484$1,208$612
19 years$2,498$2,044$1,660$1,341$1,077$520
20 years$2,348$1,899$1,524$1,214$962$443
21 years$2,213$1,769$1,402$1,102$861$378
22 years$2,090$1,651$1,292$1,002$772$323
23 years$1,978$1,544$1,193$913$693$276
24 years$1,876$1,447$1,103$832$623$236
25 years$1,782$1,358$1,022$760$560$202
26 years$1,695$1,276$948$695$505$173
27 years$1,614$1,201$880$636$455$148
28 years$1,540$1,132$818$583$411$127
29 years$1,471$1,068$761$535$371$109
30 years$1,407$1,008$709$491$335$93
31 years$1,346$953$661$451$303$80
32 years$1,290$902$617$414$274$69
33 years$1,237$854$576$381$248$59
34 years$1,188$810$538$350$224$51
35 years$1,141$768$503$323$203$43
36 years$1,097$729$471$297$184$37
37 years$1,056$692$440$274$167$32
38 years$1,017$658$412$252$151$28
39 years$980$626$386$233$137$24
40 years$945$595$362$215$124$20
41 years$911$567$340$198$113$17
42 years$880$540$319$183$102$15
43 years$850$514$299$169$93$13
44 years$821$490$281$156$84$11
45 years$794$467$264$144$77$9
46 years$768$446$247$133$70$8
47 years$743$425$233$123$63$7
48 years$719$406$218$113$57$6
49 years$696$388$205$105$52$5
50 years$675$370$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 $691,000, adding $2,772 every year, while hoping to spend $42,708 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: 52/31/17 Blend
59$691,000$691,000$691,000$691,000
60$764,341$727,718$717,008$800,408
61$796,863$717,936$695,587$815,670
62$831,271$706,242$672,016$827,549
63$867,712$692,499$646,180$839,532
64$906,346$676,560$617,955$851,642
65$947,351$658,268$587,214$863,906
66$990,917$637,460$553,822$876,357
67$1,037,256$613,961$517,641$889,036
68$1,086,597$587,586$478,523$901,989
69$1,139,193$558,141$436,316$915,269
70$1,195,319$525,418$390,861$928,939
71$1,255,277$489,199$341,990$943,073
72$1,319,400$449,254$289,531$957,756
73$1,388,049$405,338$233,301$973,083
74$1,461,624$357,193$173,111$989,167
75$1,540,562$304,548$108,762$1,006,134
76$1,625,341$247,112$40,047$1,024,129
77$1,716,488$184,584$0$1,043,317
78$1,814,582$116,640$0$1,069,923
79$1,920,256$42,942$0$1,106,266
80$2,034,207$0$0$1,145,356
81$2,157,201$0$0$1,200,086
82$2,290,079$0$0$1,275,094
83$2,433,764$0$0$1,356,260
84$2,589,274$0$0$1,444,164
85$2,757,725$0$0$1,539,446
86$2,940,344$0$0$1,642,807
87$3,138,483$0$0$1,755,022
88$3,353,625$0$0$1,876,938
89$3,587,406$0$0$2,009,492
90$3,841,620$0$0$2,153,710
91$4,118,247$0$0$2,310,726
92$4,419,459$0$0$2,481,783
93$4,747,652$0$0$2,668,252
94$5,105,458$0$0$2,871,641
95$5,495,778$0$0$3,093,609
96$5,921,801$0$0$3,335,983
97$6,387,040$0$0$3,600,774
98$6,895,363$0$0$3,890,197
99$7,451,024$0$0$4,206,688
100$8,058,712$0$0$4,552,931