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%11%
1 years$49,878$49,433$49,000$48,577$48,164$47,961
2 years$24,692$24,232$23,786$23,354$22,935$22,730
3 years$16,298$15,836$15,391$14,963$14,551$14,351
4 years$12,102$11,641$11,201$10,780$10,378$10,183
5 years$9,584$9,127$8,692$8,280$7,889$7,701
6 years$7,907$7,453$7,025$6,622$6,242$6,061
7 years$6,709$6,259$5,838$5,444$5,077$4,902
8 years$5,811$5,365$4,951$4,567$4,212$4,044
9 years$5,113$4,671$4,264$3,890$3,547$3,386
10 years$4,555$4,117$3,718$3,353$3,022$2,868
11 years$4,099$3,665$3,273$2,918$2,599$2,452
12 years$3,719$3,290$2,905$2,560$2,252$2,112
13 years$3,398$2,973$2,595$2,260$1,964$1,830
14 years$3,122$2,702$2,332$2,006$1,722$1,594
15 years$2,884$2,469$2,105$1,789$1,516$1,394
16 years$2,676$2,265$1,909$1,602$1,340$1,224
17 years$2,492$2,086$1,737$1,439$1,188$1,078
18 years$2,329$1,928$1,585$1,297$1,056$952
19 years$2,184$1,786$1,451$1,172$941$842
20 years$2,053$1,660$1,332$1,062$841$747
21 years$1,934$1,546$1,225$963$753$664
22 years$1,827$1,443$1,129$876$675$591
23 years$1,729$1,350$1,043$798$606$526
24 years$1,640$1,265$964$728$544$469
25 years$1,557$1,187$893$664$490$419
26 years$1,481$1,116$828$608$441$375
27 years$1,411$1,050$769$556$398$335
28 years$1,346$989$715$510$359$300
29 years$1,286$933$665$467$324$269
30 years$1,229$881$620$429$293$241
31 years$1,177$833$578$394$265$216
32 years$1,128$788$539$362$239$194
33 years$1,082$747$503$333$217$174
34 years$1,038$708$470$306$196$156
35 years$998$671$440$282$178$140
36 years$959$637$411$260$161$126
37 years$923$605$385$239$146$113
38 years$889$575$361$220$132$102
39 years$856$547$338$203$120$92
40 years$826$520$317$188$109$82
41 years$797$495$297$173$99$74
42 years$769$472$278$160$90$67
43 years$743$449$261$147$81$60
44 years$718$428$245$136$74$54
45 years$694$408$230$126$67$49
46 years$671$390$216$116$61$44
47 years$649$372$203$107$55$39
48 years$629$355$191$99$50$35
49 years$609$339$180$92$46$32
50 years$590$324$169$85$41$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $604,000, adding $2,301 every year, while hoping to spend $30,245 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: 29/42/29 Blend
59$604,000$604,000$604,000$604,000
60$667,981$635,969$626,607$681,331
61$703,935$634,952$615,418$691,087
62$742,542$632,870$602,841$698,800
63$784,042$629,641$588,796$706,492
64$828,696$625,175$573,203$714,186
65$876,792$619,378$555,974$721,906
66$928,647$612,149$537,021$729,681
67$984,606$603,382$516,249$737,547
68$1,045,053$592,965$493,560$745,548
69$1,110,406$580,777$468,852$753,734
70$1,181,126$566,694$442,017$762,164
71$1,257,719$550,580$412,942$770,909
72$1,340,742$532,294$381,512$780,047
73$1,430,808$511,687$347,603$789,674
74$1,528,589$488,599$311,087$799,894
75$1,634,828$462,863$271,830$810,832
76$1,750,338$434,300$229,694$822,628
77$1,876,016$402,724$184,532$835,441
78$2,012,847$367,936$136,192$849,454
79$2,161,919$329,726$84,516$864,875
80$2,324,424$287,872$29,336$881,936
81$2,501,677$242,140$0$900,903
82$2,695,125$192,282$0$931,220
83$2,906,361$138,036$0$974,361
84$3,137,137$79,127$0$1,021,677
85$3,389,384$15,263$0$1,073,657
86$3,665,226$0$0$1,130,843
87$3,967,003$0$0$1,218,733
88$4,297,290$0$0$1,322,741
89$4,658,926$0$0$1,436,719
90$5,055,032$0$0$1,561,663
91$5,489,049$0$0$1,698,671
92$5,964,766$0$0$1,848,951
93$6,486,354$0$0$2,013,837
94$7,058,410$0$0$2,194,793
95$7,685,995$0$0$2,393,438
96$8,374,683$0$0$2,611,549
97$9,130,616$0$0$2,851,088
98$9,960,559$0$0$3,114,214
99$10,871,962$0$0$3,403,308
100$11,873,034$0$0$3,720,989