Can I retire at age 60 with 745,000?

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 $745,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$61,521$60,973$60,439$59,917$59,407$58,762
2 years$30,456$29,889$29,339$28,806$28,289$27,640
3 years$20,102$19,533$18,984$18,456$17,948$17,314
4 years$14,927$14,359$13,816$13,297$12,801$12,188
5 years$11,822$11,257$10,722$10,213$9,731$9,140
6 years$9,753$9,192$8,665$8,168$7,700$7,132
7 years$8,275$7,720$7,200$6,715$6,262$5,718
8 years$7,168$6,617$6,106$5,633$5,195$4,674
9 years$6,307$5,762$5,260$4,798$4,375$3,877
10 years$5,619$5,079$4,585$4,136$3,728$3,253
11 years$5,056$4,521$4,037$3,600$3,206$2,753
12 years$4,587$4,058$3,583$3,157$2,778$2,348
13 years$4,191$3,667$3,201$2,787$2,423$2,013
14 years$3,851$3,333$2,876$2,474$2,124$1,735
15 years$3,558$3,045$2,597$2,207$1,870$1,502
16 years$3,301$2,794$2,354$1,976$1,653$1,304
17 years$3,074$2,573$2,142$1,775$1,465$1,136
18 years$2,873$2,378$1,956$1,600$1,303$992
19 years$2,694$2,203$1,790$1,446$1,161$868
20 years$2,532$2,048$1,643$1,309$1,037$761
21 years$2,386$1,907$1,511$1,188$928$668
22 years$2,254$1,780$1,393$1,080$832$587
23 years$2,133$1,665$1,286$984$747$517
24 years$2,022$1,560$1,189$897$671$455
25 years$1,921$1,464$1,102$820$604$402
26 years$1,827$1,376$1,022$749$544$355
27 years$1,741$1,295$949$686$491$313
28 years$1,660$1,220$882$628$443$277
29 years$1,586$1,151$821$576$400$245
30 years$1,516$1,087$764$529$361$217
31 years$1,452$1,028$713$486$327$192
32 years$1,391$972$665$446$295$170
33 years$1,334$921$621$411$267$150
34 years$1,281$873$580$378$242$133
35 years$1,231$828$542$348$219$118
36 years$1,183$786$507$320$199$105
37 years$1,139$746$475$295$180$93
38 years$1,096$709$445$272$163$82
39 years$1,056$674$417$251$148$73
40 years$1,019$642$391$231$134$65
41 years$983$611$366$213$122$58
42 years$948$582$343$197$110$51
43 years$916$554$322$182$100$45
44 years$885$528$303$168$91$40
45 years$856$504$284$155$83$36
46 years$828$481$267$143$75$32
47 years$801$459$251$132$68$28
48 years$775$438$236$122$62$25
49 years$751$418$221$113$56$22
50 years$727$399$208$104$51$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $745,000, adding $2,784 every year, while hoping to spend $33,589 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: 49/46/5 Blend
59$745,000$745,000$745,000$745,000
60$823,862$784,377$772,829$863,085
61$872,157$787,073$762,981$892,820
62$924,253$788,775$751,676$921,272
63$980,501$789,400$738,832$951,368
64$1,041,289$788,857$724,360$983,272
65$1,107,042$787,052$708,167$1,017,161
66$1,178,227$783,885$690,157$1,053,235
67$1,255,359$779,247$670,230$1,091,714
68$1,339,001$773,026$648,279$1,132,844
69$1,429,777$765,102$624,193$1,176,897
70$1,528,369$755,347$597,859$1,224,173
71$1,635,529$743,625$569,153$1,275,009
72$1,752,084$729,794$537,951$1,329,774
73$1,878,945$713,702$504,121$1,388,880
74$2,017,112$695,188$467,523$1,452,784
75$2,167,687$674,082$428,015$1,521,990
76$2,331,883$650,204$385,445$1,597,060
77$2,511,034$623,363$339,657$1,678,613
78$2,706,610$593,359$290,486$1,767,338
79$2,920,227$559,976$237,760$1,863,995
80$3,153,666$522,990$181,301$1,969,429
81$3,408,886$482,163$120,920$2,084,572
82$3,688,045$437,242$56,424$2,210,459
83$3,993,519$387,960$0$2,348,232
84$4,327,924$334,037$0$2,499,821
85$4,694,142$275,173$0$2,669,219
86$5,095,343$211,056$0$2,854,974
87$5,535,023$141,353$0$3,058,813
88$6,017,029$65,712$0$3,282,643
89$6,545,598$0$0$3,528,576
90$7,125,399$0$0$3,807,160
91$7,761,572$0$0$4,149,408
92$8,459,780$0$0$4,525,113
93$9,226,261$0$0$4,937,643
94$10,067,886$0$0$5,390,707
95$10,992,224$0$0$5,888,389
96$12,007,613$0$0$6,435,193
97$13,123,239$0$0$7,036,075
98$14,349,220$0$0$7,696,498
99$15,696,704$0$0$8,422,482
100$17,177,974$0$0$9,220,655