Can I retire at age 60 with 711,000?

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 $711,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$58,714$58,191$57,680$57,182$56,696$56,174
2 years$29,066$28,525$28,000$27,492$26,998$26,472
3 years$19,185$18,641$18,118$17,614$17,129$16,615
4 years$14,245$13,703$13,185$12,690$12,216$11,719
5 years$11,282$10,744$10,232$9,747$9,287$8,807
6 years$9,308$8,773$8,269$7,795$7,348$6,887
7 years$7,898$7,368$6,872$6,409$5,976$5,534
8 years$6,841$6,315$5,828$5,376$4,958$4,534
9 years$6,019$5,499$5,019$4,579$4,175$3,770
10 years$5,362$4,847$4,376$3,947$3,557$3,170
11 years$4,825$4,315$3,853$3,435$3,060$2,690
12 years$4,378$3,873$3,419$3,013$2,651$2,300
13 years$3,999$3,500$3,055$2,660$2,312$1,977
14 years$3,676$3,181$2,745$2,361$2,027$1,709
15 years$3,395$2,906$2,478$2,106$1,784$1,483
16 years$3,150$2,666$2,247$1,886$1,577$1,291
17 years$2,934$2,456$2,044$1,694$1,398$1,128
18 years$2,742$2,269$1,866$1,527$1,243$987
19 years$2,571$2,103$1,709$1,380$1,108$866
20 years$2,416$1,954$1,568$1,250$990$762
21 years$2,277$1,820$1,442$1,134$886$671
22 years$2,151$1,699$1,329$1,031$794$592
23 years$2,035$1,589$1,227$939$713$522
24 years$1,930$1,489$1,135$856$641$462
25 years$1,833$1,397$1,051$782$576$409
26 years$1,744$1,313$975$715$519$362
27 years$1,661$1,236$905$655$468$321
28 years$1,585$1,165$842$600$422$284
29 years$1,514$1,099$783$550$381$252
30 years$1,447$1,038$730$505$345$224
31 years$1,385$981$680$464$312$199
32 years$1,328$928$635$426$282$177
33 years$1,273$879$593$392$255$157
34 years$1,222$833$554$360$231$140
35 years$1,174$790$518$332$209$124
36 years$1,129$750$484$306$190$110
37 years$1,087$712$453$282$172$98
38 years$1,046$677$424$260$156$87
39 years$1,008$644$398$239$141$78
40 years$972$612$373$221$128$69
41 years$938$583$349$204$116$62
42 years$905$555$328$188$105$55
43 years$874$529$308$173$96$49
44 years$845$504$289$160$87$44
45 years$817$481$271$148$79$39
46 years$790$459$255$137$72$35
47 years$764$438$239$126$65$31
48 years$740$418$225$117$59$27
49 years$717$399$211$108$54$24
50 years$694$381$199$100$49$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $711,000, adding $3,156 every year, while hoping to spend $20,148 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: 45/41/14 Blend
59$711,000$711,000$711,000$711,000
60$786,777$749,094$738,074$818,903
61$845,591$764,363$741,362$856,856
62$909,729$779,704$744,085$895,702
63$979,712$795,100$746,203$937,384
64$1,056,115$810,533$747,673$982,173
65$1,139,570$825,980$748,451$1,030,367
66$1,230,773$841,420$748,491$1,082,295
67$1,330,491$856,828$747,744$1,138,319
68$1,439,565$872,177$746,158$1,198,839
69$1,558,927$887,439$743,680$1,264,296
70$1,689,598$902,584$740,254$1,335,175
71$1,832,705$917,579$735,820$1,412,012
72$1,989,487$932,387$730,317$1,495,398
73$2,161,312$946,971$723,680$1,585,985
74$2,349,683$961,290$715,840$1,684,492
75$2,556,258$975,300$706,728$1,791,710
76$2,782,860$988,954$696,268$1,908,515
77$3,031,501$1,002,202$684,381$2,035,870
78$3,304,394$1,014,989$670,988$2,174,838
79$3,603,978$1,027,260$656,002$2,326,592
80$3,932,940$1,038,951$639,334$2,492,424
81$4,294,238$1,049,998$620,890$2,673,760
82$4,691,133$1,060,331$600,572$2,872,173
83$5,127,216$1,069,874$578,279$3,089,397
84$5,606,443$1,078,550$553,903$3,327,345
85$6,133,174$1,086,272$527,332$3,588,125
86$6,712,210$1,092,951$498,450$3,874,063
87$7,348,841$1,098,492$467,134$4,187,724
88$8,048,896$1,102,791$433,256$4,531,935
89$8,818,796$1,105,741$396,683$4,909,816
90$9,665,618$1,107,226$357,276$5,324,806
91$10,597,155$1,107,124$314,889$5,780,695
92$11,621,996$1,105,305$269,369$6,281,667
93$12,749,605$1,101,631$220,559$6,832,330
94$13,990,409$1,095,955$168,291$7,437,770
95$15,355,895$1,088,121$112,394$8,103,590
96$16,858,723$1,077,966$52,685$8,835,972
97$18,512,840$1,065,313$0$9,641,730
98$20,333,614$1,049,978$0$10,530,026
99$22,337,980$1,031,764$0$11,516,000
100$24,544,597$1,010,463$0$12,600,937