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%18%
1 years$57,805$57,290$56,788$56,298$55,819$54,011
2 years$28,617$28,084$27,567$27,066$26,580$24,775
3 years$18,888$18,353$17,838$17,342$16,864$15,119
4 years$14,025$13,491$12,981$12,494$12,027$10,356
5 years$11,108$10,577$10,074$9,596$9,143$7,549
6 years$9,164$8,637$8,141$7,674$7,235$5,720
7 years$7,776$7,254$6,765$6,309$5,884$4,448
8 years$6,735$6,218$5,738$5,293$4,881$3,524
9 years$5,926$5,414$4,942$4,508$4,111$2,830
10 years$5,279$4,772$4,308$3,886$3,502$2,296
11 years$4,750$4,248$3,793$3,382$3,012$1,878
12 years$4,310$3,813$3,366$2,967$2,610$1,546
13 years$3,938$3,446$3,008$2,619$2,276$1,279
14 years$3,619$3,132$2,702$2,325$1,995$1,063
15 years$3,343$2,861$2,440$2,073$1,757$886
16 years$3,101$2,625$2,212$1,857$1,553$740
17 years$2,889$2,418$2,013$1,668$1,377$620
18 years$2,700$2,234$1,837$1,503$1,224$521
19 years$2,531$2,070$1,682$1,358$1,091$438
20 years$2,379$1,924$1,544$1,230$975$368
21 years$2,242$1,792$1,420$1,117$872$310
22 years$2,117$1,673$1,309$1,015$782$262
23 years$2,004$1,565$1,208$925$702$221
24 years$1,900$1,466$1,118$843$631$187
25 years$1,805$1,376$1,035$770$568$158
26 years$1,717$1,293$960$704$511$133
27 years$1,635$1,217$891$645$461$113
28 years$1,560$1,147$829$591$416$95
29 years$1,490$1,082$771$542$376$81
30 years$1,425$1,021$718$497$339$68
31 years$1,364$966$670$456$307$58
32 years$1,307$914$625$419$278$49
33 years$1,254$865$583$386$251$41
34 years$1,203$820$545$355$227$35
35 years$1,156$778$510$327$206$30
36 years$1,112$738$477$301$187$25
37 years$1,070$701$446$277$169$21
38 years$1,030$666$418$256$153$18
39 years$993$634$391$236$139$15
40 years$957$603$367$217$126$13
41 years$923$574$344$201$114$11
42 years$891$547$323$185$104$9
43 years$861$521$303$171$94$8
44 years$832$496$284$158$86$7
45 years$804$473$267$146$78$6
46 years$778$452$251$135$70$5
47 years$753$431$236$124$64$4
48 years$728$411$221$115$58$3
49 years$705$393$208$106$53$3
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 $5,193 every year, while hoping to spend $53,300 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: 72/8/20 Blend
59$700,000$700,000$700,000$700,000
60$776,757$739,657$728,807$828,576
61$799,275$719,189$696,511$843,267
62$822,304$695,932$661,347$852,469
63$845,839$669,693$623,162$861,203
64$869,874$640,267$581,797$869,414
65$894,400$607,439$537,087$877,042
66$919,405$570,980$488,855$884,023
67$944,875$530,649$436,923$890,288
68$970,791$486,189$381,098$895,762
69$997,131$437,332$321,184$900,363
70$1,023,868$383,791$256,974$904,004
71$1,050,971$325,265$188,251$906,591
72$1,078,403$261,435$114,789$908,020
73$1,106,119$191,965$36,354$908,180
74$1,134,071$116,499$0$906,951
75$1,162,201$34,662$0$914,309
76$1,190,442$0$0$928,942
77$1,218,719$0$0$947,740
78$1,246,946$0$0$969,530
79$1,275,026$0$0$991,184
80$1,302,848$0$0$1,012,615
81$1,330,287$0$0$1,033,721
82$1,357,204$0$0$1,054,392
83$1,383,440$0$0$1,074,501
84$1,408,817$0$0$1,093,906
85$1,433,138$0$0$1,112,450
86$1,456,179$0$0$1,129,955
87$1,477,691$0$0$1,146,222
88$1,497,396$0$0$1,161,031
89$1,514,984$0$0$1,174,133
90$1,530,109$0$0$1,185,255
91$1,542,386$0$0$1,194,088
92$1,551,385$0$0$1,200,293
93$1,556,630$0$0$1,203,490
94$1,557,590$0$0$1,203,256
95$1,553,678$0$0$1,199,125
96$1,544,238$0$0$1,190,576
97$1,528,546$0$0$1,177,033
98$1,505,798$0$0$1,157,856
99$1,475,102$0$0$1,132,338
100$1,435,469$0$0$1,099,693