Can I retire at age 60 with 710,000?

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 $710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$58,631$58,109$57,599$57,102$56,616$56,048
2 years$29,025$28,485$27,961$27,453$26,960$26,388
3 years$19,158$18,615$18,093$17,589$17,105$16,546
4 years$14,225$13,684$13,167$12,672$12,199$11,659
5 years$11,266$10,728$10,218$9,733$9,274$8,753
6 years$9,295$8,761$8,258$7,784$7,338$6,837
7 years$7,887$7,357$6,862$6,400$5,968$5,487
8 years$6,831$6,306$5,820$5,368$4,951$4,491
9 years$6,011$5,491$5,012$4,573$4,169$3,730
10 years$5,355$4,840$4,370$3,942$3,552$3,133
11 years$4,818$4,309$3,847$3,430$3,055$2,655
12 years$4,372$3,867$3,414$3,009$2,648$2,267
13 years$3,994$3,495$3,050$2,656$2,309$1,947
14 years$3,670$3,177$2,741$2,358$2,024$1,680
15 years$3,390$2,902$2,475$2,103$1,782$1,456
16 years$3,146$2,663$2,244$1,883$1,575$1,266
17 years$2,930$2,452$2,042$1,692$1,396$1,104
18 years$2,738$2,266$1,864$1,525$1,242$965
19 years$2,567$2,100$1,706$1,378$1,107$846
20 years$2,413$1,951$1,566$1,248$989$743
21 years$2,274$1,818$1,440$1,132$885$653
22 years$2,148$1,697$1,327$1,030$793$575
23 years$2,033$1,587$1,226$938$712$507
24 years$1,927$1,487$1,133$855$640$447
25 years$1,830$1,395$1,050$781$576$395
26 years$1,741$1,311$974$714$519$349
27 years$1,659$1,234$904$654$468$309
28 years$1,582$1,163$841$599$422$274
29 years$1,511$1,097$782$549$381$242
30 years$1,445$1,036$729$504$344$215
31 years$1,383$979$679$463$311$191
32 years$1,326$927$634$425$281$169
33 years$1,272$878$592$391$255$150
34 years$1,221$832$553$360$231$133
35 years$1,173$789$517$331$209$118
36 years$1,128$749$484$305$189$105
37 years$1,085$711$453$281$172$93
38 years$1,045$676$424$259$156$83
39 years$1,007$643$397$239$141$74
40 years$971$612$372$220$128$65
41 years$936$582$349$203$116$58
42 years$904$554$327$188$105$52
43 years$873$528$307$173$96$46
44 years$844$503$288$160$87$41
45 years$816$480$271$148$79$36
46 years$789$458$254$136$72$32
47 years$763$437$239$126$65$29
48 years$739$417$225$117$59$26
49 years$716$398$211$108$54$23
50 years$693$381$198$100$49$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $710,000, adding $6,067 every year, while hoping to spend $55,006 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: 71/23/6 Blend
59$710,000$710,000$710,000$710,000
60$788,678$751,048$740,043$843,637
61$810,597$729,324$706,309$859,005
62$832,909$704,691$669,600$868,401
63$855,594$676,950$629,761$877,150
64$878,632$645,887$586,625$885,174
65$901,997$611,280$540,021$892,388
66$925,657$572,889$489,769$898,701
67$949,578$530,465$435,680$904,012
68$973,719$483,741$377,559$908,213
69$998,031$432,438$315,200$911,187
70$1,022,460$376,257$248,389$912,806
71$1,046,944$314,887$176,903$912,932
72$1,071,412$247,995$100,509$911,415
73$1,095,782$175,233$18,962$908,093
74$1,119,963$96,231$0$902,789
75$1,143,851$10,598$0$899,669
76$1,167,330$0$0$895,747
77$1,190,268$0$0$910,374
78$1,212,518$0$0$927,124
79$1,233,914$0$0$943,185
80$1,254,270$0$0$958,411
81$1,273,380$0$0$972,639
82$1,291,010$0$0$985,688
83$1,306,903$0$0$997,354
84$1,320,770$0$0$1,007,410
85$1,332,289$0$0$1,015,603
86$1,341,101$0$0$1,021,654
87$1,346,810$0$0$1,025,250
88$1,348,972$0$0$1,026,043
89$1,347,095$0$0$1,023,648
90$1,340,633$0$0$1,017,636
91$1,328,981$0$0$1,007,533
92$1,311,465$0$0$992,811
93$1,287,341$0$0$972,887
94$1,255,783$0$0$947,113
95$1,215,875$0$0$914,772
96$1,166,605$0$0$875,071
97$1,106,851$0$0$827,131
98$1,035,372$0$0$769,978
99$950,793$0$0$702,539
100$851,597$0$0$623,622