Can I retire at age 60 with 716,000?

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 $716,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$59,127$58,600$58,086$57,585$57,095$55,423
2 years$29,271$28,725$28,197$27,685$27,188$25,517
3 years$19,320$18,772$18,245$17,738$17,249$15,631
4 years$14,346$13,800$13,278$12,779$12,302$10,750
5 years$11,362$10,819$10,304$9,816$9,352$7,870
6 years$9,373$8,835$8,327$7,850$7,400$5,989
7 years$7,953$7,419$6,920$6,454$6,018$4,679
8 years$6,889$6,360$5,869$5,414$4,993$3,724
9 years$6,061$5,537$5,055$4,611$4,204$3,005
10 years$5,400$4,881$4,407$3,975$3,582$2,451
11 years$4,859$4,345$3,880$3,459$3,081$2,015
12 years$4,408$3,900$3,443$3,034$2,670$1,668
13 years$4,028$3,524$3,076$2,679$2,328$1,387
14 years$3,701$3,204$2,764$2,378$2,041$1,159
15 years$3,419$2,927$2,496$2,121$1,797$972
16 years$3,172$2,685$2,263$1,899$1,588$817
17 years$2,955$2,473$2,059$1,706$1,408$688
18 years$2,761$2,285$1,879$1,538$1,252$581
19 years$2,589$2,118$1,721$1,389$1,116$491
20 years$2,433$1,968$1,579$1,258$997$416
21 years$2,293$1,833$1,452$1,142$892$353
22 years$2,166$1,711$1,339$1,038$800$299
23 years$2,050$1,600$1,236$946$718$254
24 years$1,944$1,499$1,143$862$645$216
25 years$1,846$1,407$1,059$788$581$184
26 years$1,756$1,322$982$720$523$156
27 years$1,673$1,245$912$659$471$133
28 years$1,596$1,173$848$604$425$113
29 years$1,524$1,106$789$554$384$97
30 years$1,457$1,045$735$508$347$82
31 years$1,395$988$685$467$314$70
32 years$1,337$935$639$429$284$60
33 years$1,282$885$597$395$257$51
34 years$1,231$839$558$363$233$43
35 years$1,183$796$521$334$211$37
36 years$1,137$755$488$308$191$32
37 years$1,094$717$456$284$173$27
38 years$1,054$682$427$261$157$23
39 years$1,015$648$400$241$142$20
40 years$979$617$375$222$129$17
41 years$944$587$352$205$117$14
42 years$912$559$330$189$106$12
43 years$880$533$310$175$96$10
44 years$851$508$291$161$87$9
45 years$822$484$273$149$79$8
46 years$795$462$256$138$72$6
47 years$770$441$241$127$65$5
48 years$745$421$226$117$59$5
49 years$722$402$213$109$54$4
50 years$699$384$200$100$49$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $716,000, adding $2,629 every year, while hoping to spend $32,898 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: 62/17/21 Blend
59$716,000$716,000$716,000$716,000
60$791,744$753,796$742,698$836,354
61$837,498$755,729$732,575$868,727
62$886,817$756,653$721,010$900,166
63$940,030$756,486$707,921$933,741
64$997,496$755,138$693,220$969,666
65$1,059,615$752,513$676,817$1,008,175
66$1,126,821$748,512$658,615$1,049,527
67$1,199,594$743,027$638,517$1,094,009
68$1,278,462$735,945$616,417$1,141,940
69$1,364,005$727,146$592,206$1,193,671
70$1,456,861$716,502$565,772$1,249,589
71$1,557,729$703,880$536,994$1,310,124
72$1,667,383$689,136$505,749$1,375,752
73$1,786,671$672,118$471,906$1,446,996
74$1,916,526$652,666$435,330$1,524,437
75$2,057,977$630,612$395,878$1,608,716
76$2,212,153$605,775$353,403$1,700,541
77$2,380,300$577,964$307,749$1,800,696
78$2,563,786$546,980$258,754$1,910,044
79$2,764,120$512,610$206,250$2,029,543
80$2,982,961$474,629$150,061$2,160,247
81$3,222,136$432,799$90,001$2,303,323
82$3,483,657$386,869$25,879$2,460,058
83$3,769,738$336,574$0$2,631,876
84$4,082,819$281,633$0$2,829,880
85$4,425,583$221,750$0$3,053,080
86$4,800,988$156,611$0$3,297,634
87$5,212,290$85,886$0$3,565,708
88$5,663,075$9,227$0$3,859,690
89$6,157,294$0$0$4,182,213
90$6,699,294$0$0$4,549,971
91$7,293,869$0$0$4,955,350
92$7,946,295$0$0$5,400,227
93$8,662,384$0$0$5,888,575
94$9,448,539$0$0$6,424,765
95$10,311,814$0$0$7,013,617
96$11,259,979$0$0$7,660,439
97$12,301,591$0$0$8,371,076
98$13,446,080$0$0$9,151,970
99$14,703,834$0$0$10,010,217
100$16,086,295$0$0$10,953,635