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%14.2%
1 years$57,805$57,290$56,788$56,298$55,819$54,849
2 years$28,617$28,084$27,567$27,066$26,580$25,607
3 years$18,888$18,353$17,838$17,342$16,864$15,916
4 years$14,025$13,491$12,981$12,494$12,027$11,113
5 years$11,108$10,577$10,074$9,596$9,143$8,265
6 years$9,164$8,637$8,141$7,674$7,235$6,394
7 years$7,776$7,254$6,765$6,309$5,884$5,080
8 years$6,735$6,218$5,738$5,293$4,881$4,115
9 years$5,926$5,414$4,942$4,508$4,111$3,381
10 years$5,279$4,772$4,308$3,886$3,502$2,809
11 years$4,750$4,248$3,793$3,382$3,012$2,354
12 years$4,310$3,813$3,366$2,967$2,610$1,987
13 years$3,938$3,446$3,008$2,619$2,276$1,686
14 years$3,619$3,132$2,702$2,325$1,995$1,438
15 years$3,343$2,861$2,440$2,073$1,757$1,231
16 years$3,101$2,625$2,212$1,857$1,553$1,057
17 years$2,889$2,418$2,013$1,668$1,377$910
18 years$2,700$2,234$1,837$1,503$1,224$786
19 years$2,531$2,070$1,682$1,358$1,091$679
20 years$2,379$1,924$1,544$1,230$975$589
21 years$2,242$1,792$1,420$1,117$872$511
22 years$2,117$1,673$1,309$1,015$782$443
23 years$2,004$1,565$1,208$925$702$386
24 years$1,900$1,466$1,118$843$631$336
25 years$1,805$1,376$1,035$770$568$292
26 years$1,717$1,293$960$704$511$255
27 years$1,635$1,217$891$645$461$222
28 years$1,560$1,147$829$591$416$194
29 years$1,490$1,082$771$542$376$169
30 years$1,425$1,021$718$497$339$148
31 years$1,364$966$670$456$307$129
32 years$1,307$914$625$419$278$113
33 years$1,254$865$583$386$251$99
34 years$1,203$820$545$355$227$86
35 years$1,156$778$510$327$206$75
36 years$1,112$738$477$301$187$66
37 years$1,070$701$446$277$169$58
38 years$1,030$666$418$256$153$50
39 years$993$634$391$236$139$44
40 years$957$603$367$217$126$39
41 years$923$574$344$201$114$34
42 years$891$547$323$185$104$30
43 years$861$521$303$171$94$26
44 years$832$496$284$158$86$23
45 years$804$473$267$146$78$20
46 years$778$452$251$135$70$17
47 years$753$431$236$124$64$15
48 years$728$411$221$115$58$13
49 years$705$393$208$106$53$12
50 years$683$375$196$98$48$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $700,000, adding $3,821 every year, while hoping to spend $31,948 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: 44/31/25 Blend
59$700,000$700,000$700,000$700,000
60$775,341$738,241$727,391$803,686
61$820,434$740,423$717,767$826,370
62$869,055$741,640$706,749$847,567
63$921,531$741,813$694,257$869,916
64$978,220$740,855$680,208$893,540
65$1,039,516$738,675$664,512$918,578
66$1,105,853$735,175$647,079$945,183
67$1,177,705$730,254$627,812$973,530
68$1,255,596$723,802$606,609$1,003,810
69$1,340,102$715,704$583,366$1,036,237
70$1,431,856$705,836$557,971$1,071,051
71$1,531,552$694,069$530,311$1,108,515
72$1,639,958$680,266$500,263$1,148,927
73$1,757,915$664,280$467,703$1,192,613
74$1,886,350$645,958$432,499$1,239,941
75$2,026,282$625,135$394,513$1,291,315
76$2,178,835$601,639$353,601$1,347,187
77$2,345,244$575,286$309,614$1,408,057
78$2,526,867$545,883$262,394$1,474,481
79$2,725,202$513,226$211,779$1,547,076
80$2,941,895$477,097$157,596$1,626,526
81$3,178,761$437,267$99,669$1,713,591
82$3,437,797$393,495$37,809$1,809,111
83$3,721,200$345,525$0$1,914,020
84$4,031,392$293,085$0$2,036,874
85$4,371,038$235,890$0$2,182,548
86$4,743,074$173,639$0$2,342,269
87$5,150,733$106,013$0$2,517,502
88$5,597,575$32,675$0$2,709,862
89$6,087,521$0$0$2,921,135
90$6,624,890$0$0$3,169,234
91$7,214,438$0$0$3,453,738
92$7,861,406$0$0$3,766,041
93$8,571,563$0$0$4,108,940
94$9,351,268$0$0$4,485,515
95$10,207,523$0$0$4,899,161
96$11,148,042$0$0$5,353,617
97$12,181,324$0$0$5,853,001
98$13,316,730$0$0$6,401,853
99$14,564,575$0$0$7,005,170
100$15,936,220$0$0$7,668,461