Can I retire at age 60 with 700,000?

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 $700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$57,805$57,290$56,788$56,298$55,819$53,774
2 years$28,617$28,084$27,567$27,066$26,580$24,543
3 years$18,888$18,353$17,838$17,342$16,864$14,898
4 years$14,025$13,491$12,981$12,494$12,027$10,148
5 years$11,108$10,577$10,074$9,596$9,143$7,355
6 years$9,164$8,637$8,141$7,674$7,235$5,540
7 years$7,776$7,254$6,765$6,309$5,884$4,281
8 years$6,735$6,218$5,738$5,293$4,881$3,369
9 years$5,926$5,414$4,942$4,508$4,111$2,687
10 years$5,279$4,772$4,308$3,886$3,502$2,166
11 years$4,750$4,248$3,793$3,382$3,012$1,759
12 years$4,310$3,813$3,366$2,967$2,610$1,437
13 years$3,938$3,446$3,008$2,619$2,276$1,180
14 years$3,619$3,132$2,702$2,325$1,995$973
15 years$3,343$2,861$2,440$2,073$1,757$805
16 years$3,101$2,625$2,212$1,857$1,553$667
17 years$2,889$2,418$2,013$1,668$1,377$555
18 years$2,700$2,234$1,837$1,503$1,224$462
19 years$2,531$2,070$1,682$1,358$1,091$385
20 years$2,379$1,924$1,544$1,230$975$321
21 years$2,242$1,792$1,420$1,117$872$268
22 years$2,117$1,673$1,309$1,015$782$224
23 years$2,004$1,565$1,208$925$702$188
24 years$1,900$1,466$1,118$843$631$157
25 years$1,805$1,376$1,035$770$568$132
26 years$1,717$1,293$960$704$511$110
27 years$1,635$1,217$891$645$461$92
28 years$1,560$1,147$829$591$416$78
29 years$1,490$1,082$771$542$376$65
30 years$1,425$1,021$718$497$339$55
31 years$1,364$966$670$456$307$46
32 years$1,307$914$625$419$278$38
33 years$1,254$865$583$386$251$32
34 years$1,203$820$545$355$227$27
35 years$1,156$778$510$327$206$23
36 years$1,112$738$477$301$187$19
37 years$1,070$701$446$277$169$16
38 years$1,030$666$418$256$153$13
39 years$993$634$391$236$139$11
40 years$957$603$367$217$126$9
41 years$923$574$344$201$114$8
42 years$891$547$323$185$104$7
43 years$861$521$303$171$94$6
44 years$832$496$284$158$86$5
45 years$804$473$267$146$78$4
46 years$778$452$251$135$70$3
47 years$753$431$236$124$64$3
48 years$728$411$221$115$58$2
49 years$705$393$208$106$53$2
50 years$683$375$196$98$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $700,000, adding $5,712 every year, while hoping to spend $36,819 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: 31/43/26 Blend
59$700,000$700,000$700,000$700,000
60$777,292$740,192$729,342$795,037
61$817,401$737,286$714,600$806,234
62$860,366$733,004$698,130$814,630
63$906,442$727,239$679,835$822,932
64$955,904$719,879$659,614$831,156
65$1,009,056$710,804$637,362$839,325
66$1,066,234$699,887$612,967$847,464
67$1,127,802$686,994$586,314$855,608
68$1,194,164$671,983$557,282$863,798
69$1,265,762$654,703$525,744$872,082
70$1,343,081$634,995$491,568$880,520
71$1,426,656$612,690$454,616$889,180
72$1,517,072$587,609$414,743$898,144
73$1,614,975$559,563$371,798$907,506
74$1,721,074$528,353$325,625$917,376
75$1,836,148$493,767$276,058$927,881
76$1,961,054$455,581$222,925$939,167
77$2,096,736$413,559$166,048$951,401
78$2,244,231$367,451$105,238$964,774
79$2,404,680$316,993$40,300$979,505
80$2,579,337$261,906$0$995,843
81$2,769,585$201,895$0$1,022,113
82$2,976,944$136,649$0$1,063,045
83$3,203,087$65,839$0$1,107,869
84$3,449,855$0$0$1,157,057
85$3,719,274$0$0$1,216,285
86$4,013,577$0$0$1,315,114
87$4,335,220$0$0$1,423,230
88$4,686,906$0$0$1,541,553
89$5,071,612$0$0$1,671,100
90$5,492,619$0$0$1,812,988
91$5,953,534$0$0$1,968,448
92$6,458,334$0$0$2,138,838
93$7,011,396$0$0$2,325,650
94$7,617,541$0$0$2,530,530
95$8,282,079$0$0$2,755,288
96$9,010,858$0$0$3,001,922
97$9,810,318$0$0$3,272,628
98$10,687,555$0$0$3,569,828
99$11,650,381$0$0$3,896,189
100$12,707,406$0$0$4,254,650