Can I retire at age 60 with 715,000?

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 $715,000?

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$59,044$58,518$58,005$57,504$57,015$56,490
2 years$29,230$28,685$28,158$27,646$27,150$26,621
3 years$19,293$18,746$18,220$17,713$17,225$16,709
4 years$14,325$13,780$13,259$12,761$12,285$11,785
5 years$11,346$10,804$10,290$9,802$9,339$8,857
6 years$9,360$8,822$8,316$7,839$7,390$6,926
7 years$7,942$7,409$6,910$6,445$6,010$5,565
8 years$6,879$6,351$5,861$5,406$4,986$4,559
9 years$6,053$5,530$5,048$4,605$4,199$3,791
10 years$5,392$4,874$4,401$3,969$3,577$3,188
11 years$4,852$4,339$3,874$3,455$3,077$2,705
12 years$4,402$3,895$3,438$3,030$2,666$2,312
13 years$4,022$3,519$3,072$2,675$2,325$1,988
14 years$3,696$3,199$2,760$2,375$2,038$1,718
15 years$3,414$2,922$2,492$2,118$1,794$1,491
16 years$3,168$2,681$2,259$1,896$1,586$1,298
17 years$2,950$2,469$2,056$1,704$1,406$1,134
18 years$2,757$2,282$1,877$1,535$1,250$993
19 years$2,585$2,115$1,718$1,387$1,114$871
20 years$2,430$1,965$1,577$1,257$995$766
21 years$2,290$1,830$1,450$1,140$891$675
22 years$2,163$1,709$1,337$1,037$799$595
23 years$2,047$1,598$1,234$944$717$525
24 years$1,941$1,497$1,141$861$644$464
25 years$1,843$1,405$1,057$787$580$411
26 years$1,754$1,321$981$719$522$364
27 years$1,671$1,243$911$658$471$322
28 years$1,594$1,171$846$603$425$286
29 years$1,522$1,105$788$553$384$254
30 years$1,455$1,043$734$508$347$225
31 years$1,393$986$684$466$313$200
32 years$1,335$933$638$428$283$178
33 years$1,280$884$596$394$257$158
34 years$1,229$838$557$363$232$140
35 years$1,181$795$521$334$210$125
36 years$1,136$754$487$307$191$111
37 years$1,093$716$456$283$173$99
38 years$1,052$681$427$261$157$88
39 years$1,014$647$400$241$142$78
40 years$978$616$375$222$129$70
41 years$943$586$351$205$117$62
42 years$910$558$330$189$106$55
43 years$879$532$309$174$96$49
44 years$850$507$290$161$87$44
45 years$821$484$273$149$79$39
46 years$794$461$256$137$72$35
47 years$769$440$241$127$65$31
48 years$744$420$226$117$59$28
49 years$721$401$213$108$54$25
50 years$698$383$200$100$49$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $715,000, adding $3,732 every year, while hoping to spend $55,626 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: 35/46/19 Blend
59$715,000$715,000$715,000$715,000
60$791,780$753,885$742,802$814,780
61$813,355$731,639$708,500$809,705
62$835,268$706,440$671,185$798,790
63$857,492$678,082$630,697$785,852
64$879,999$646,351$586,868$770,743
65$902,757$611,020$539,526$753,307
66$925,724$571,846$488,486$733,377
67$948,858$528,576$433,560$710,775
68$972,105$480,940$374,548$685,313
69$995,407$428,654$311,243$656,789
70$1,018,697$371,416$243,428$624,990
71$1,041,897$308,909$170,876$589,689
72$1,064,922$240,797$93,352$550,644
73$1,087,673$166,725$10,608$507,597
74$1,110,040$86,318$0$460,276
75$1,131,897$0$0$424,139
76$1,153,107$0$0$386,859
77$1,173,511$0$0$392,905
78$1,192,934$0$0$398,516
79$1,211,179$0$0$403,612
80$1,228,027$0$0$408,109
81$1,243,233$0$0$411,910
82$1,256,524$0$0$414,906
83$1,267,594$0$0$416,979
84$1,276,105$0$0$417,996
85$1,281,679$0$0$417,809
86$1,283,897$0$0$416,254
87$1,282,294$0$0$413,148
88$1,276,351$0$0$408,291
89$1,265,494$0$0$401,458
90$1,249,088$0$0$392,401
91$1,226,425$0$0$380,844
92$1,196,723$0$0$366,484
93$1,159,116$0$0$348,984
94$1,112,643$0$0$327,970
95$1,056,242$0$0$303,028
96$988,736$0$0$273,704
97$908,824$0$0$239,491
98$815,068$0$0$199,831
99$705,875$0$0$154,108
100$579,486$0$0$101,638