Can I retire at age 60 with 724,000?

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 $724,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$59,787$59,255$58,735$58,228$57,733$56,064
2 years$29,598$29,046$28,512$27,994$27,492$25,824
3 years$19,536$18,982$18,449$17,936$17,442$15,827
4 years$14,506$13,954$13,426$12,922$12,440$10,891
5 years$11,489$10,940$10,419$9,925$9,456$7,977
6 years$9,478$8,933$8,420$7,937$7,483$6,074
7 years$8,042$7,502$6,997$6,526$6,085$4,748
8 years$6,966$6,431$5,934$5,474$5,048$3,781
9 years$6,129$5,599$5,111$4,663$4,251$3,053
10 years$5,460$4,935$4,456$4,019$3,622$2,491
11 years$4,913$4,394$3,923$3,498$3,115$2,050
12 years$4,458$3,944$3,482$3,068$2,700$1,697
13 years$4,073$3,564$3,111$2,709$2,354$1,413
14 years$3,743$3,239$2,795$2,405$2,064$1,181
15 years$3,457$2,959$2,523$2,145$1,817$991
16 years$3,208$2,715$2,288$1,920$1,606$834
17 years$2,988$2,500$2,082$1,725$1,424$703
18 years$2,792$2,311$1,900$1,555$1,266$594
19 years$2,618$2,141$1,740$1,405$1,128$503
20 years$2,461$1,990$1,597$1,272$1,008$426
21 years$2,319$1,853$1,469$1,155$902$361
22 years$2,190$1,730$1,354$1,050$809$307
23 years$2,073$1,618$1,250$956$726$261
24 years$1,965$1,516$1,156$872$652$222
25 years$1,867$1,423$1,071$796$587$189
26 years$1,776$1,337$993$728$529$161
27 years$1,692$1,258$922$667$477$137
28 years$1,614$1,186$857$611$430$117
29 years$1,541$1,119$798$560$388$100
30 years$1,474$1,057$743$514$351$85
31 years$1,411$999$693$472$317$72
32 years$1,352$945$646$434$287$62
33 years$1,297$895$603$399$260$53
34 years$1,245$848$564$367$235$45
35 years$1,196$805$527$338$213$38
36 years$1,150$764$493$311$193$33
37 years$1,106$725$462$287$175$28
38 years$1,065$689$432$264$159$24
39 years$1,027$655$405$244$144$20
40 years$990$624$380$225$130$17
41 years$955$594$356$207$118$15
42 years$922$565$334$191$107$13
43 years$890$539$313$177$97$11
44 years$860$513$294$163$88$9
45 years$832$490$276$151$80$8
46 years$804$467$259$139$73$7
47 years$778$446$244$129$66$6
48 years$753$425$229$119$60$5
49 years$730$406$215$110$55$4
50 years$707$388$202$101$50$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $724,000, adding $6,092 every year, while hoping to spend $31,010 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: 73/21/6 Blend
59$724,000$724,000$724,000$724,000
60$804,132$765,760$754,538$861,825
61$853,159$770,288$746,821$905,192
62$906,147$773,998$737,805$948,167
63$963,469$776,818$727,416$994,350
64$1,025,531$778,671$715,573$1,044,046
65$1,092,783$779,473$702,192$1,097,594
66$1,165,718$779,139$687,187$1,155,365
67$1,244,878$777,574$670,465$1,217,770
68$1,330,862$774,681$651,931$1,285,262
69$1,424,324$770,354$631,485$1,358,340
70$1,525,987$764,484$609,022$1,437,553
71$1,636,646$756,952$584,433$1,523,509
72$1,757,175$747,633$557,602$1,616,876
73$1,888,536$736,397$528,411$1,718,392
74$2,031,788$723,101$496,734$1,828,870
75$2,188,096$707,599$462,440$1,949,208
76$2,358,743$689,733$425,393$2,080,392
77$2,545,141$669,336$385,451$2,223,516
78$2,748,845$646,233$342,462$2,379,780
79$2,971,565$620,237$296,273$2,550,512
80$3,215,187$591,150$246,721$2,737,173
81$3,481,785$558,765$193,634$2,941,377
82$3,773,643$522,861$136,837$3,164,902
83$4,093,277$483,203$76,144$3,409,708
84$4,443,458$439,547$11,361$3,677,958
85$4,827,235$391,630$0$3,972,037
86$5,247,971$339,177$0$4,298,273
87$5,709,365$281,897$0$4,656,884
88$6,215,493$219,483$0$5,050,352
89$6,770,845$151,610$0$5,482,218
90$7,380,366$77,934$0$5,956,384
91$8,049,503$0$0$6,477,154
92$8,784,258$0$0$7,049,710
93$9,591,238$0$0$7,698,362
94$10,477,727$0$0$8,410,959
95$11,451,746$0$0$9,193,952
96$12,522,131$0$0$10,054,451
97$13,698,618$0$0$11,000,286
98$14,991,932$0$0$12,040,085
99$16,413,891$0$0$13,183,353
100$17,977,511$0$0$14,440,563