Can I retire at age 60 with 703,000?

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 $703,000?

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$58,053$57,536$57,031$56,539$56,058$55,084
2 years$28,739$28,204$27,685$27,182$26,694$25,716
3 years$18,969$18,432$17,914$17,416$16,936$15,984
4 years$14,085$13,549$13,037$12,547$12,079$11,161
5 years$11,155$10,623$10,117$9,637$9,182$8,300
6 years$9,203$8,674$8,176$7,707$7,266$6,421
7 years$7,809$7,285$6,794$6,336$5,909$5,102
8 years$6,764$6,244$5,762$5,316$4,902$4,132
9 years$5,951$5,437$4,963$4,528$4,128$3,395
10 years$5,302$4,792$4,327$3,903$3,517$2,821
11 years$4,771$4,266$3,809$3,397$3,025$2,364
12 years$4,328$3,829$3,381$2,979$2,621$1,995
13 years$3,954$3,460$3,020$2,630$2,286$1,693
14 years$3,634$3,145$2,714$2,335$2,004$1,444
15 years$3,357$2,873$2,450$2,082$1,764$1,236
16 years$3,115$2,636$2,221$1,864$1,559$1,062
17 years$2,901$2,428$2,021$1,675$1,383$914
18 years$2,711$2,244$1,845$1,510$1,229$789
19 years$2,542$2,079$1,689$1,364$1,096$682
20 years$2,389$1,932$1,550$1,236$979$591
21 years$2,252$1,800$1,426$1,121$876$513
22 years$2,127$1,680$1,314$1,020$785$445
23 years$2,013$1,571$1,214$928$705$387
24 years$1,908$1,472$1,122$847$633$337
25 years$1,812$1,382$1,039$773$570$294
26 years$1,724$1,298$964$707$513$256
27 years$1,643$1,222$895$647$463$223
28 years$1,567$1,151$832$593$418$195
29 years$1,497$1,086$774$544$377$170
30 years$1,431$1,026$721$499$341$148
31 years$1,370$970$673$458$308$130
32 years$1,313$918$627$421$279$113
33 years$1,259$869$586$387$252$99
34 years$1,209$824$547$356$228$87
35 years$1,161$781$512$328$207$76
36 years$1,117$741$479$302$187$66
37 years$1,074$704$448$278$170$58
38 years$1,035$669$420$257$154$51
39 years$997$636$393$237$140$44
40 years$961$605$369$218$127$39
41 years$927$576$346$201$115$34
42 years$895$549$324$186$104$30
43 years$864$523$304$172$95$26
44 years$835$499$286$158$86$23
45 years$807$475$268$146$78$20
46 years$781$454$252$135$71$17
47 years$756$433$237$125$64$15
48 years$732$413$222$115$58$13
49 years$708$395$209$107$53$12
50 years$686$377$196$99$48$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $703,000, adding $3,231 every year, while hoping to spend $26,517 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: 55/29/16 Blend
59$703,000$703,000$703,000$703,000
60$778,039$740,780$729,883$817,363
61$829,185$748,864$726,120$852,587
62$884,659$756,456$721,343$887,797
63$944,875$763,503$715,489$925,539
64$1,010,287$769,949$708,492$966,061
65$1,081,396$775,737$700,287$1,009,637
66$1,158,752$780,801$690,800$1,056,571
67$1,242,961$785,076$679,957$1,107,196
68$1,334,688$788,490$667,681$1,161,881
69$1,434,667$790,967$653,889$1,221,035
70$1,543,705$792,427$638,497$1,285,108
71$1,662,690$792,782$621,413$1,354,597
72$1,792,599$791,944$602,546$1,430,052
73$1,934,510$789,814$581,796$1,512,079
74$2,089,605$786,291$559,062$1,601,349
75$2,259,191$781,265$534,236$1,698,601
76$2,444,702$774,620$507,207$1,804,652
77$2,647,720$766,235$477,857$1,920,404
78$2,869,986$755,979$446,063$2,046,853
79$3,113,417$743,715$411,699$2,185,098
80$3,380,125$729,297$374,631$2,336,351
81$3,672,436$712,570$334,719$2,501,953
82$3,992,910$693,372$291,817$2,683,383
83$4,344,367$671,527$245,774$2,882,271
84$4,729,914$646,854$196,429$3,100,419
85$5,152,974$619,159$143,618$3,339,815
86$5,617,315$588,235$87,167$3,602,651
87$6,127,089$553,866$26,895$3,891,350
88$6,686,870$515,823$0$4,208,580
89$7,301,694$473,863$0$4,563,680
90$7,977,113$427,728$0$4,958,827
91$8,719,241$377,148$0$5,393,048
92$9,534,811$321,837$0$5,870,336
93$10,431,245$261,490$0$6,395,099
94$11,416,718$195,789$0$6,972,192
95$12,500,236$124,395$0$7,606,972
96$13,691,722$46,952$0$8,305,344
97$15,002,108$0$0$9,073,819
98$16,443,439$0$0$9,931,357
99$18,028,986$0$0$10,891,254
100$19,773,370$0$0$11,947,388