Can I retire at age 60 with 601,000?

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 $601,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$49,630$49,188$48,757$48,336$47,925$46,899
2 years$24,569$24,112$23,668$23,238$22,821$21,793
3 years$16,217$15,757$15,315$14,889$14,479$13,480
4 years$12,041$11,583$11,145$10,727$10,326$9,365
5 years$9,537$9,081$8,649$8,239$7,850$6,928
6 years$7,868$7,416$6,990$6,589$6,211$5,331
7 years$6,676$6,228$5,809$5,417$5,052$4,212
8 years$5,782$5,338$4,926$4,544$4,191$3,392
9 years$5,088$4,648$4,243$3,871$3,529$2,770
10 years$4,533$4,097$3,699$3,337$3,007$2,287
11 years$4,078$3,647$3,257$2,904$2,586$1,905
12 years$3,700$3,274$2,890$2,547$2,241$1,597
13 years$3,381$2,958$2,582$2,249$1,954$1,347
14 years$3,107$2,689$2,320$1,996$1,713$1,141
15 years$2,870$2,456$2,095$1,780$1,508$970
16 years$2,663$2,254$1,899$1,594$1,333$827
17 years$2,480$2,076$1,728$1,432$1,182$707
18 years$2,318$1,918$1,578$1,291$1,051$606
19 years$2,173$1,778$1,444$1,166$937$520
20 years$2,043$1,652$1,325$1,056$837$447
21 years$1,925$1,539$1,219$959$749$385
22 years$1,818$1,436$1,124$872$671$332
23 years$1,721$1,343$1,037$794$602$286
24 years$1,631$1,259$959$724$542$247
25 years$1,549$1,181$889$661$487$214
26 years$1,474$1,110$824$605$439$185
27 years$1,404$1,045$765$553$396$160
28 years$1,339$984$711$507$357$138
29 years$1,279$929$662$465$322$120
30 years$1,223$877$617$427$291$104
31 years$1,171$829$575$392$263$90
32 years$1,122$784$536$360$238$78
33 years$1,076$743$501$331$216$67
34 years$1,033$704$468$305$195$59
35 years$993$668$438$281$177$51
36 years$955$634$409$258$160$44
37 years$918$602$383$238$145$38
38 years$884$572$359$219$132$33
39 years$852$544$336$202$119$29
40 years$822$518$315$187$108$25
41 years$793$493$295$172$98$22
42 years$765$469$277$159$89$19
43 years$739$447$260$147$81$16
44 years$714$426$244$135$73$14
45 years$690$406$229$125$67$12
46 years$668$388$215$116$61$11
47 years$646$370$202$107$55$9
48 years$625$353$190$99$50$8
49 years$606$337$179$91$45$7
50 years$587$322$168$84$41$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $601,000, adding $2,208 every year, while hoping to spend $29,438 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: 54/38/8 Blend
59$601,000$601,000$601,000$601,000
60$664,580$632,727$623,411$699,065
61$701,045$632,408$612,974$722,341
62$740,243$631,088$601,200$744,243
63$782,422$628,685$588,014$767,372
64$827,853$625,115$573,336$791,851
65$876,835$620,287$557,084$817,814
66$929,696$614,105$539,171$845,410
67$986,798$606,468$519,505$874,808
68$1,048,535$597,269$497,992$906,192
69$1,115,343$586,393$474,533$939,767
70$1,187,701$573,719$449,023$975,761
71$1,266,136$559,121$421,355$1,014,429
72$1,351,225$542,461$391,414$1,056,050
73$1,443,606$523,598$359,082$1,100,938
74$1,543,979$502,379$324,235$1,149,437
75$1,653,112$478,643$286,745$1,201,932
76$1,771,854$452,221$246,476$1,258,848
77$1,901,137$422,934$203,286$1,320,656
78$2,041,986$390,591$157,030$1,387,879
79$2,195,530$354,991$107,552$1,461,096
80$2,363,012$315,923$54,692$1,540,949
81$2,545,798$273,162$0$1,628,147
82$2,745,393$226,471$0$1,723,626
83$2,963,455$175,599$0$1,833,100
84$3,201,807$120,283$0$1,952,876
85$3,462,457$60,243$0$2,084,038
86$3,747,617$0$0$2,227,784
87$4,059,721$0$0$2,387,452
88$4,401,450$0$0$2,589,913
89$4,775,755$0$0$2,811,732
90$5,185,888$0$0$3,054,842
91$5,635,430$0$0$3,321,374
92$6,128,324$0$0$3,613,671
93$6,668,911$0$0$3,934,320
94$7,261,978$0$0$4,286,164
95$7,912,791$0$0$4,672,338
96$8,627,155$0$0$5,096,295
97$9,411,463$0$0$5,561,838
98$10,272,757$0$0$6,073,156
99$11,218,794$0$0$6,634,866
100$12,258,122$0$0$7,252,051