Can I retire at age 60 with 607,000?

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 $607,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$50,125$49,679$49,243$48,818$48,403$47,348
2 years$24,815$24,352$23,905$23,470$23,049$21,992
3 years$16,379$15,915$15,468$15,038$14,623$13,596
4 years$12,162$11,699$11,257$10,834$10,429$9,441
5 years$9,632$9,172$8,736$8,321$7,928$6,981
6 years$7,946$7,490$7,060$6,655$6,273$5,368
7 years$6,742$6,290$5,867$5,471$5,102$4,239
8 years$5,840$5,392$4,975$4,590$4,233$3,412
9 years$5,139$4,694$4,285$3,909$3,564$2,785
10 years$4,578$4,138$3,736$3,370$3,037$2,298
11 years$4,119$3,684$3,289$2,933$2,612$1,913
12 years$3,737$3,306$2,919$2,572$2,263$1,603
13 years$3,414$2,988$2,608$2,271$1,974$1,350
14 years$3,138$2,716$2,343$2,016$1,730$1,143
15 years$2,899$2,481$2,116$1,798$1,523$971
16 years$2,689$2,276$1,918$1,610$1,346$827
17 years$2,505$2,096$1,745$1,446$1,194$707
18 years$2,341$1,937$1,593$1,304$1,061$605
19 years$2,195$1,795$1,459$1,178$946$519
20 years$2,063$1,668$1,339$1,067$845$446
21 years$1,944$1,554$1,231$968$756$384
22 years$1,836$1,451$1,135$880$678$330
23 years$1,738$1,357$1,048$802$609$285
24 years$1,648$1,271$969$731$547$246
25 years$1,565$1,193$898$668$492$212
26 years$1,489$1,121$832$611$443$183
27 years$1,418$1,055$773$559$400$158
28 years$1,353$994$719$512$361$137
29 years$1,292$938$669$470$326$119
30 years$1,236$886$623$431$294$103
31 years$1,183$837$581$396$266$89
32 years$1,133$792$542$364$241$77
33 years$1,087$750$506$334$218$67
34 years$1,044$711$473$308$197$58
35 years$1,003$675$442$283$179$50
36 years$964$640$413$261$162$43
37 years$928$608$387$240$147$38
38 years$893$578$362$222$133$33
39 years$861$549$339$204$121$28
40 years$830$523$318$188$109$24
41 years$801$498$298$174$99$21
42 years$773$474$280$160$90$18
43 years$746$452$263$148$82$16
44 years$721$430$247$137$74$14
45 years$697$410$231$126$67$12
46 years$674$392$217$117$61$10
47 years$653$374$204$108$56$9
48 years$632$357$192$100$50$8
49 years$612$341$180$92$46$7
50 years$593$325$170$85$42$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $607,000, adding $2,342 every year, while hoping to spend $20,588 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: 42/32/26 Blend
59$607,000$607,000$607,000$607,000
60$671,330$639,159$629,750$694,329
61$717,900$648,572$628,941$720,461
62$768,530$657,757$627,415$746,614
63$823,613$666,679$625,127$774,537
64$883,580$675,305$622,027$804,404
65$948,907$683,597$618,066$836,409
66$1,020,115$691,513$613,191$870,768
67$1,097,781$699,011$607,348$907,716
68$1,182,538$706,046$600,477$947,515
69$1,275,083$712,568$592,519$990,457
70$1,376,183$718,526$583,410$1,036,862
71$1,486,683$723,863$573,083$1,087,084
72$1,607,513$728,520$561,470$1,141,515
73$1,739,697$732,436$548,497$1,200,589
74$1,884,363$735,542$534,088$1,264,784
75$2,042,752$737,767$518,164$1,334,630
76$2,216,231$739,037$500,642$1,410,713
77$2,406,307$739,270$481,433$1,493,678
78$2,614,637$738,380$460,448$1,584,240
79$2,843,048$736,279$437,591$1,683,189
80$3,093,550$732,868$412,762$1,791,396
81$3,368,360$728,047$385,857$1,909,825
82$3,669,918$721,706$356,768$2,039,539
83$4,000,911$713,730$325,381$2,181,713
84$4,364,300$703,999$291,578$2,337,646
85$4,763,346$692,383$255,233$2,508,770
86$5,201,643$678,746$216,219$2,696,668
87$5,683,148$662,941$174,400$2,903,086
88$6,212,221$644,817$129,634$3,129,953
89$6,793,665$624,211$81,774$3,379,398
90$7,432,772$600,950$30,667$3,653,772
91$8,135,372$574,854$0$3,955,668
92$8,907,887$545,729$0$4,294,573
93$9,757,394$513,372$0$4,676,534
94$10,691,689$477,568$0$5,096,570
95$11,719,362$438,090$0$5,558,579
96$12,849,877$394,697$0$6,066,861
97$14,093,662$347,134$0$6,626,157
98$15,462,205$295,133$0$7,241,693
99$16,968,166$238,411$0$7,919,233
100$18,625,492$176,666$0$8,665,132