Can I retire at age 60 with 603,000?

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 $603,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$49,795$49,352$48,919$48,497$48,084$46,360
2 years$24,651$24,192$23,747$23,316$22,897$21,178
3 years$16,271$15,810$15,366$14,939$14,527$12,868
4 years$12,081$11,622$11,182$10,762$10,361$8,774
5 years$9,569$9,112$8,678$8,267$7,876$6,366
6 years$7,894$7,440$7,013$6,611$6,232$4,800
7 years$6,698$6,248$5,828$5,435$5,068$3,714
8 years$5,802$5,356$4,943$4,559$4,205$2,926
9 years$5,105$4,663$4,257$3,884$3,541$2,337
10 years$4,548$4,111$3,711$3,348$3,017$1,886
11 years$4,092$3,659$3,267$2,913$2,595$1,533
12 years$3,713$3,284$2,900$2,556$2,249$1,255
13 years$3,392$2,968$2,591$2,256$1,961$1,032
14 years$3,117$2,698$2,328$2,003$1,719$852
15 years$2,879$2,465$2,102$1,786$1,513$706
16 years$2,672$2,261$1,905$1,599$1,338$586
17 years$2,488$2,083$1,734$1,437$1,186$488
18 years$2,326$1,924$1,583$1,295$1,054$406
19 years$2,180$1,783$1,449$1,170$940$339
20 years$2,049$1,657$1,330$1,060$840$284
21 years$1,931$1,544$1,223$962$751$237
22 years$1,824$1,441$1,127$874$673$199
23 years$1,726$1,348$1,041$796$605$167
24 years$1,637$1,263$963$726$543$140
25 years$1,555$1,185$892$663$489$117
26 years$1,479$1,114$827$607$440$98
27 years$1,409$1,048$768$555$397$83
28 years$1,344$988$714$509$358$69
29 years$1,284$932$664$466$324$58
30 years$1,227$880$619$428$292$49
31 years$1,175$832$577$393$264$41
32 years$1,126$787$538$361$239$35
33 years$1,080$745$503$332$216$29
34 years$1,037$706$470$306$196$24
35 years$996$670$439$281$177$21
36 years$958$636$411$259$161$17
37 years$922$604$384$239$146$15
38 years$887$574$360$220$132$12
39 years$855$546$337$203$120$10
40 years$824$519$316$187$109$9
41 years$795$494$296$173$99$7
42 years$768$471$278$159$89$6
43 years$741$449$261$147$81$5
44 years$716$428$245$136$74$4
45 years$693$408$230$125$67$4
46 years$670$389$216$116$61$3
47 years$648$371$203$107$55$3
48 years$628$354$191$99$50$2
49 years$608$338$179$91$45$2
50 years$589$323$168$85$41$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $603,000, adding $2,516 every year, while hoping to spend $36,894 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: 65/19/16 Blend
59$603,000$603,000$603,000$603,000
60$667,101$635,142$625,796$707,706
61$695,891$627,009$607,505$727,071
62$726,380$617,241$587,365$743,734
63$758,704$605,719$565,275$761,041
64$793,009$592,317$541,129$779,057
65$829,456$576,901$514,817$797,850
66$868,221$559,329$486,224$817,500
67$909,496$539,453$455,229$838,096
68$953,492$517,113$421,706$859,735
69$1,000,439$492,142$385,524$882,527
70$1,050,590$464,363$346,545$906,596
71$1,104,221$433,588$304,625$932,079
72$1,161,637$399,619$259,616$959,129
73$1,223,170$362,247$211,359$987,918
74$1,289,185$321,249$159,691$1,018,635
75$1,360,083$276,391$104,442$1,051,492
76$1,436,304$227,427$45,433$1,086,727
77$1,518,330$174,094$0$1,124,602
78$1,606,692$116,117$0$1,168,405
79$1,701,973$53,204$0$1,223,938
80$1,804,810$0$0$1,283,834
81$1,915,908$0$0$1,351,657
82$2,036,039$0$0$1,437,054
83$2,166,051$0$0$1,529,509
84$2,306,879$0$0$1,629,690
85$2,459,547$0$0$1,738,330
86$2,625,184$0$0$1,856,238
87$2,805,032$0$0$1,984,301
88$3,000,454$0$0$2,123,496
89$3,212,953$0$0$2,274,899
90$3,444,180$0$0$2,439,690
91$3,695,952$0$0$2,619,173
92$3,970,270$0$0$2,814,777
93$4,269,334$0$0$3,028,079
94$4,595,567$0$0$3,260,813
95$4,951,634$0$0$3,514,888
96$5,340,471$0$0$3,792,405
97$5,765,309$0$0$4,095,677
98$6,229,702$0$0$4,427,251
99$6,737,569$0$0$4,789,931
100$7,293,220$0$0$5,186,804