Can I retire at age 60 with 697,000?

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 $697,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$57,558$57,045$56,545$56,056$55,580$54,840
2 years$28,494$27,963$27,449$26,950$26,467$25,722
3 years$18,807$18,274$17,761$17,267$16,791$16,066
4 years$13,965$13,434$12,926$12,440$11,976$11,275
5 years$11,060$10,532$10,031$9,555$9,104$8,429
6 years$9,124$8,600$8,106$7,641$7,204$6,556
7 years$7,742$7,222$6,736$6,282$5,858$5,238
8 years$6,706$6,191$5,713$5,270$4,860$4,267
9 years$5,901$5,390$4,921$4,489$4,093$3,527
10 years$5,257$4,751$4,290$3,870$3,487$2,948
11 years$4,730$4,230$3,777$3,368$2,999$2,487
12 years$4,291$3,796$3,352$2,954$2,599$2,112
13 years$3,921$3,431$2,995$2,608$2,266$1,804
14 years$3,603$3,119$2,691$2,315$1,987$1,549
15 years$3,328$2,849$2,429$2,065$1,749$1,335
16 years$3,088$2,614$2,203$1,849$1,546$1,154
17 years$2,876$2,407$2,004$1,661$1,371$1,001
18 years$2,688$2,224$1,830$1,497$1,219$870
19 years$2,520$2,062$1,675$1,353$1,086$758
20 years$2,369$1,916$1,537$1,225$970$662
21 years$2,232$1,784$1,414$1,112$868$578
22 years$2,108$1,666$1,303$1,011$778$506
23 years$1,995$1,558$1,203$921$699$444
24 years$1,892$1,460$1,113$840$628$389
25 years$1,797$1,370$1,031$767$565$342
26 years$1,709$1,287$956$701$509$300
27 years$1,628$1,212$888$642$459$264
28 years$1,553$1,142$825$588$414$232
29 years$1,484$1,077$768$539$374$204
30 years$1,419$1,017$715$495$338$180
31 years$1,358$962$667$454$305$158
32 years$1,301$910$622$418$276$140
33 years$1,248$862$581$384$250$123
34 years$1,198$817$543$353$226$108
35 years$1,151$775$507$325$205$96
36 years$1,107$735$475$300$186$84
37 years$1,065$698$444$276$168$74
38 years$1,026$664$416$254$153$66
39 years$988$631$390$235$138$58
40 years$953$600$365$216$126$51
41 years$919$571$343$200$114$45
42 years$887$544$321$184$103$40
43 years$857$519$302$170$94$35
44 years$828$494$283$157$85$31
45 years$801$471$266$145$77$27
46 years$774$450$250$134$70$24
47 years$749$429$235$124$64$21
48 years$725$410$220$114$58$19
49 years$702$391$207$106$53$17
50 years$681$374$195$98$48$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $697,000, adding $3,665 every year, while hoping to spend $22,436 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: 46/40/14 Blend
59$697,000$697,000$697,000$697,000
60$771,874$734,933$724,130$804,162
61$826,734$747,073$724,517$839,090
62$886,437$759,056$724,164$874,386
63$951,454$770,851$723,024$912,183
64$1,022,303$782,423$721,046$952,725
65$1,099,553$793,737$718,177$996,275
66$1,183,832$804,754$714,360$1,043,129
67$1,275,829$815,433$709,537$1,093,609
68$1,376,303$825,730$703,646$1,148,075
69$1,486,092$835,596$696,624$1,206,919
70$1,606,116$844,983$688,403$1,270,579
71$1,737,388$853,835$678,913$1,339,536
72$1,881,024$862,095$668,079$1,414,319
73$2,038,254$869,703$655,825$1,495,517
74$2,210,430$876,593$642,069$1,583,774
75$2,399,042$882,694$626,727$1,679,806
76$2,605,732$887,934$609,710$1,784,401
77$2,832,307$892,234$590,926$1,898,428
78$3,080,758$895,508$570,277$2,022,847
79$3,353,277$897,670$547,663$2,158,717
80$3,652,278$898,623$522,977$2,307,209
81$3,980,422$898,267$496,109$2,469,611
82$4,340,639$896,495$466,942$2,647,348
83$4,736,155$893,195$435,355$2,841,991
84$5,170,526$888,245$401,223$3,055,273
85$5,647,669$881,518$364,413$3,289,107
86$6,171,897$872,878$324,787$3,545,602
87$6,747,964$862,182$282,201$3,827,089
88$7,381,105$849,278$236,503$4,136,134
89$8,077,090$834,005$187,538$4,475,573
90$8,842,273$816,191$135,140$4,848,531
91$9,683,656$795,656$79,139$5,258,457
92$10,608,954$772,207$19,355$5,709,156
93$11,626,665$745,644$0$6,204,823
94$12,746,154$715,749$0$6,756,728
95$13,977,739$682,298$0$7,366,852
96$15,332,786$645,049$0$8,037,965
97$16,823,823$603,748$0$8,776,307
98$18,464,648$558,127$0$9,588,763
99$20,270,468$507,901$0$10,482,921
100$22,258,038$452,771$0$11,467,148