Can I retire at age 60 with 604,000?

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 $604,000?

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$49,878$49,433$49,000$48,577$48,164$47,134
2 years$24,692$24,232$23,786$23,354$22,935$21,902
3 years$16,298$15,836$15,391$14,963$14,551$13,548
4 years$12,102$11,641$11,201$10,780$10,378$9,412
5 years$9,584$9,127$8,692$8,280$7,889$6,963
6 years$7,907$7,453$7,025$6,622$6,242$5,357
7 years$6,709$6,259$5,838$5,444$5,077$4,233
8 years$5,811$5,365$4,951$4,567$4,212$3,409
9 years$5,113$4,671$4,264$3,890$3,547$2,784
10 years$4,555$4,117$3,718$3,353$3,022$2,299
11 years$4,099$3,665$3,273$2,918$2,599$1,914
12 years$3,719$3,290$2,905$2,560$2,252$1,605
13 years$3,398$2,973$2,595$2,260$1,964$1,353
14 years$3,122$2,702$2,332$2,006$1,722$1,146
15 years$2,884$2,469$2,105$1,789$1,516$974
16 years$2,676$2,265$1,909$1,602$1,340$831
17 years$2,492$2,086$1,737$1,439$1,188$710
18 years$2,329$1,928$1,585$1,297$1,056$609
19 years$2,184$1,786$1,451$1,172$941$523
20 years$2,053$1,660$1,332$1,062$841$449
21 years$1,934$1,546$1,225$963$753$387
22 years$1,827$1,443$1,129$876$675$333
23 years$1,729$1,350$1,043$798$606$288
24 years$1,640$1,265$964$728$544$248
25 years$1,557$1,187$893$664$490$215
26 years$1,481$1,116$828$608$441$186
27 years$1,411$1,050$769$556$398$161
28 years$1,346$989$715$510$359$139
29 years$1,286$933$665$467$324$120
30 years$1,229$881$620$429$293$104
31 years$1,177$833$578$394$265$90
32 years$1,128$788$539$362$239$78
33 years$1,082$747$503$333$217$68
34 years$1,038$708$470$306$196$59
35 years$998$671$440$282$178$51
36 years$959$637$411$260$161$44
37 years$923$605$385$239$146$38
38 years$889$575$361$220$132$33
39 years$856$547$338$203$120$29
40 years$826$520$317$188$109$25
41 years$797$495$297$173$99$22
42 years$769$472$278$160$90$19
43 years$743$449$261$147$81$16
44 years$718$428$245$136$74$14
45 years$694$408$230$126$67$12
46 years$671$390$216$116$61$11
47 years$649$372$203$107$55$9
48 years$629$355$191$99$50$8
49 years$609$339$180$92$46$7
50 years$590$324$169$85$41$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $604,000, adding $2,036 every year, while hoping to spend $30,892 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: 53/35/12 Blend
59$604,000$604,000$604,000$604,000
60$667,708$635,696$626,334$700,897
61$702,946$633,976$614,447$722,003
62$740,742$631,137$601,127$741,462
63$781,325$627,091$586,293$761,920
64$824,947$621,744$569,860$783,479
65$871,881$614,999$551,740$806,254
66$922,431$606,752$531,841$830,370
67$976,927$596,892$510,066$855,970
68$1,035,735$585,301$486,315$883,210
69$1,099,255$571,856$460,482$912,266
70$1,167,928$556,425$432,456$943,333
71$1,242,236$538,869$402,123$976,629
72$1,322,711$519,042$369,362$1,012,395
73$1,409,939$496,786$334,047$1,050,900
74$1,504,562$471,938$296,046$1,092,443
75$1,607,287$444,322$255,224$1,137,355
76$1,718,892$413,755$211,435$1,186,006
77$1,840,231$380,042$164,530$1,238,805
78$1,972,247$342,976$114,354$1,296,206
79$2,115,974$302,340$60,743$1,358,715
80$2,272,552$257,903$3,526$1,426,890
81$2,443,234$209,422$0$1,501,355
82$2,629,401$156,640$0$1,590,163
83$2,832,571$99,287$0$1,687,672
84$3,054,416$37,074$0$1,794,301
85$3,296,775$0$0$1,911,014
86$3,561,677$0$0$2,050,547
87$3,851,350$0$0$2,218,799
88$4,168,250$0$0$2,402,923
89$4,515,083$0$0$2,604,499
90$4,894,825$0$0$2,825,265
91$5,310,755$0$0$3,067,135
92$5,766,485$0$0$3,332,216
93$6,265,992$0$0$3,622,832
94$6,813,655$0$0$3,941,538
95$7,414,299$0$0$4,291,152
96$8,073,236$0$0$4,674,775
97$8,796,319$0$0$5,095,823
98$9,589,995$0$0$5,558,062
99$10,461,364$0$0$6,065,637
100$11,418,247$0$0$6,623,115