Can I retire at age 60 with 709,000?

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 $709,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$58,549$58,027$57,518$57,022$56,537$55,081
2 years$28,984$28,445$27,921$27,414$26,922$25,465
3 years$19,131$18,589$18,067$17,565$17,081$15,668
4 years$14,205$13,665$13,148$12,654$12,182$10,824
5 years$11,251$10,713$10,204$9,720$9,261$7,962
6 years$9,281$8,748$8,246$7,773$7,328$6,089
7 years$7,875$7,347$6,852$6,391$5,959$4,781
8 years$6,821$6,298$5,811$5,361$4,944$3,826
9 years$6,002$5,483$5,005$4,566$4,163$3,104
10 years$5,347$4,833$4,364$3,936$3,547$2,546
11 years$4,811$4,303$3,842$3,426$3,051$2,105
12 years$4,365$3,862$3,410$3,005$2,644$1,753
13 years$3,988$3,490$3,046$2,653$2,305$1,467
14 years$3,665$3,172$2,737$2,355$2,021$1,233
15 years$3,386$2,898$2,471$2,100$1,779$1,040
16 years$3,141$2,659$2,240$1,880$1,573$880
17 years$2,926$2,449$2,039$1,690$1,394$746
18 years$2,734$2,263$1,861$1,523$1,240$634
19 years$2,563$2,097$1,704$1,376$1,105$540
20 years$2,410$1,949$1,564$1,246$987$461
21 years$2,271$1,815$1,438$1,131$883$393
22 years$2,145$1,694$1,326$1,028$792$336
23 years$2,030$1,585$1,224$936$711$287
24 years$1,925$1,485$1,132$854$639$246
25 years$1,828$1,393$1,048$780$575$211
26 years$1,739$1,310$972$713$518$181
27 years$1,657$1,232$903$653$467$155
28 years$1,580$1,161$839$598$421$133
29 years$1,509$1,096$781$548$380$114
30 years$1,443$1,035$728$503$344$98
31 years$1,382$978$678$462$311$84
32 years$1,324$925$633$425$281$72
33 years$1,270$876$591$391$254$62
34 years$1,219$831$552$359$230$53
35 years$1,171$788$516$331$209$46
36 years$1,126$748$483$305$189$39
37 years$1,084$710$452$281$171$34
38 years$1,043$675$423$259$155$29
39 years$1,005$642$397$239$141$25
40 years$969$611$372$220$128$21
41 years$935$581$348$203$116$18
42 years$903$554$327$187$105$16
43 years$872$527$307$173$95$14
44 years$842$503$288$160$87$12
45 years$814$479$270$148$79$10
46 years$788$457$254$136$71$9
47 years$762$436$239$126$65$7
48 years$738$417$224$116$59$6
49 years$715$398$211$108$53$5
50 years$692$380$198$99$49$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $709,000, adding $3,909 every year, while hoping to spend $43,254 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: 36/45/19 Blend
59$709,000$709,000$709,000$709,000
60$785,350$747,773$736,784$808,966
61$819,434$738,392$715,444$817,130
62$855,545$727,102$691,940$821,605
63$893,843$713,763$666,153$825,536
64$934,506$698,228$637,959$828,898
65$977,725$680,340$607,231$831,670
66$1,023,711$659,935$573,831$833,830
67$1,072,695$636,838$537,620$835,359
68$1,124,929$610,862$498,450$836,242
69$1,180,690$581,812$456,166$836,465
70$1,240,281$549,481$410,608$836,019
71$1,304,033$513,650$361,607$834,899
72$1,372,312$474,086$308,987$833,106
73$1,445,515$430,544$252,566$830,647
74$1,524,082$382,765$192,152$827,536
75$1,608,494$330,475$127,544$823,795
76$1,699,277$273,385$58,533$819,456
77$1,797,012$211,190$0$814,562
78$1,902,334$143,566$0$812,232
79$2,015,944$70,172$0$822,335
80$2,138,608$0$0$833,127
81$2,271,171$0$0$849,393
82$2,414,559$0$0$904,652
83$2,569,792$0$0$964,558
84$2,737,991$0$0$1,029,556
85$2,920,388$0$0$1,100,132
86$3,118,338$0$0$1,176,821
87$3,333,330$0$0$1,260,214
88$3,567,005$0$0$1,350,959
89$3,821,166$0$0$1,449,769
90$4,097,796$0$0$1,557,430
91$4,399,079$0$0$1,674,805
92$4,727,418$0$0$1,802,846
93$5,085,455$0$0$1,942,599
94$5,476,100$0$0$2,095,216
95$5,902,558$0$0$2,261,967
96$6,368,353$0$0$2,444,246
97$6,877,366$0$0$2,643,593
98$7,433,871$0$0$2,861,698
99$8,042,573$0$0$3,100,427
100$8,708,651$0$0$3,361,832