Can I retire at age 60 with 721,000?

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 $721,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$59,540$59,009$58,492$57,987$57,494$56,310
2 years$29,475$28,926$28,394$27,878$27,378$26,191
3 years$19,455$18,903$18,373$17,862$17,370$16,216
4 years$14,446$13,896$13,371$12,868$12,388$11,277
5 years$11,441$10,895$10,376$9,884$9,417$8,352
6 years$9,439$8,896$8,386$7,904$7,452$6,433
7 years$8,009$7,471$6,968$6,499$6,060$5,088
8 years$6,937$6,404$5,910$5,452$5,027$4,102
9 years$6,104$5,576$5,090$4,644$4,234$3,355
10 years$5,438$4,915$4,438$4,003$3,607$2,773
11 years$4,893$4,375$3,907$3,484$3,103$2,313
12 years$4,439$3,927$3,467$3,056$2,689$1,942
13 years$4,056$3,549$3,098$2,698$2,345$1,639
14 years$3,727$3,226$2,783$2,395$2,055$1,390
15 years$3,443$2,947$2,513$2,136$1,810$1,183
16 years$3,194$2,704$2,278$1,912$1,599$1,011
17 years$2,975$2,490$2,073$1,718$1,418$865
18 years$2,781$2,301$1,893$1,548$1,261$743
19 years$2,607$2,133$1,733$1,399$1,124$638
20 years$2,450$1,982$1,590$1,267$1,004$550
21 years$2,309$1,846$1,463$1,150$898$474
22 years$2,181$1,723$1,348$1,046$805$409
23 years$2,064$1,611$1,245$952$723$354
24 years$1,957$1,510$1,151$869$650$306
25 years$1,859$1,417$1,066$793$585$265
26 years$1,768$1,332$989$725$527$229
27 years$1,685$1,253$918$664$475$199
28 years$1,607$1,181$854$608$428$172
29 years$1,535$1,114$794$558$387$149
30 years$1,468$1,052$740$512$350$130
31 years$1,405$995$690$470$316$112
32 years$1,346$941$644$432$286$98
33 years$1,291$891$601$397$259$85
34 years$1,240$845$561$366$234$74
35 years$1,191$801$525$337$212$64
36 years$1,145$760$491$310$192$56
37 years$1,102$722$460$286$174$48
38 years$1,061$686$430$263$158$42
39 years$1,022$653$403$243$143$36
40 years$986$621$378$224$130$32
41 years$951$591$354$207$118$28
42 years$918$563$332$191$107$24
43 years$887$536$312$176$97$21
44 years$857$511$293$162$88$18
45 years$828$488$275$150$80$16
46 years$801$465$258$139$73$14
47 years$775$444$243$128$66$12
48 years$750$424$228$118$60$10
49 years$727$405$214$109$54$9
50 years$704$387$201$101$49$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $721,000, adding $6,676 every year, while hoping to spend $32,229 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: 88/6/6 Blend
59$721,000$721,000$721,000$721,000
60$801,428$763,215$752,040$871,212
61$848,883$766,321$742,942$920,762
62$900,097$768,500$732,459$970,017
63$955,421$769,670$720,510$1,023,107
64$1,015,239$769,749$707,012$1,080,392
65$1,079,973$768,646$691,877$1,142,273
66$1,150,087$766,266$675,011$1,209,187
67$1,226,091$762,509$656,319$1,281,616
68$1,308,546$757,266$635,700$1,360,093
69$1,398,070$750,424$613,048$1,445,201
70$1,495,340$741,862$588,252$1,537,585
71$1,601,105$731,453$561,199$1,637,953
72$1,716,184$719,061$531,765$1,747,087
73$1,841,482$704,542$499,827$1,865,846
74$1,977,993$687,745$465,251$1,995,176
75$2,126,812$668,508$427,901$2,136,121
76$2,289,143$646,661$387,632$2,289,829
77$2,466,312$622,023$344,293$2,457,565
78$2,659,778$594,404$297,729$2,640,723
79$2,871,147$563,602$247,775$2,840,837
80$3,102,188$529,402$194,259$3,059,599
81$3,354,848$491,580$137,004$3,298,872
82$3,631,271$449,896$75,822$3,560,708
83$3,933,817$404,097$10,518$3,847,370
84$4,265,085$353,917$0$4,161,347
85$4,627,939$299,074$0$4,509,174
86$5,025,530$239,270$0$4,891,052
87$5,461,330$174,190$0$5,309,654
88$5,939,162$103,502$0$5,768,667
89$6,463,237$26,854$0$6,272,151
90$7,038,194$0$0$6,824,583
91$7,669,141$0$0$7,434,597
92$8,361,706$0$0$8,106,136
93$9,122,088$0$0$8,843,438
94$9,957,114$0$0$9,653,125
95$10,874,307$0$0$10,542,491
96$11,881,953$0$0$11,519,573
97$12,989,181$0$0$12,593,221
98$14,206,047$0$0$13,773,189
99$15,543,630$0$0$15,070,221
100$17,014,136$0$0$16,496,153