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%16.6%
1 years$50,125$49,679$49,243$48,818$48,403$47,099
2 years$24,815$24,352$23,905$23,470$23,049$21,745
3 years$16,379$15,915$15,468$15,038$14,623$13,359
4 years$12,162$11,699$11,257$10,834$10,429$9,216
5 years$9,632$9,172$8,736$8,321$7,928$6,768
6 years$7,946$7,490$7,060$6,655$6,273$5,168
7 years$6,742$6,290$5,867$5,471$5,102$4,051
8 years$5,840$5,392$4,975$4,590$4,233$3,235
9 years$5,139$4,694$4,285$3,909$3,564$2,620
10 years$4,578$4,138$3,736$3,370$3,037$2,145
11 years$4,119$3,684$3,289$2,933$2,612$1,770
12 years$3,737$3,306$2,919$2,572$2,263$1,471
13 years$3,414$2,988$2,608$2,271$1,974$1,229
14 years$3,138$2,716$2,343$2,016$1,730$1,031
15 years$2,899$2,481$2,116$1,798$1,523$868
16 years$2,689$2,276$1,918$1,610$1,346$733
17 years$2,505$2,096$1,745$1,446$1,194$620
18 years$2,341$1,937$1,593$1,304$1,061$526
19 years$2,195$1,795$1,459$1,178$946$447
20 years$2,063$1,668$1,339$1,067$845$380
21 years$1,944$1,554$1,231$968$756$324
22 years$1,836$1,451$1,135$880$678$276
23 years$1,738$1,357$1,048$802$609$235
24 years$1,648$1,271$969$731$547$201
25 years$1,565$1,193$898$668$492$172
26 years$1,489$1,121$832$611$443$147
27 years$1,418$1,055$773$559$400$126
28 years$1,353$994$719$512$361$108
29 years$1,292$938$669$470$326$92
30 years$1,236$886$623$431$294$79
31 years$1,183$837$581$396$266$67
32 years$1,133$792$542$364$241$58
33 years$1,087$750$506$334$218$50
34 years$1,044$711$473$308$197$42
35 years$1,003$675$442$283$179$36
36 years$964$640$413$261$162$31
37 years$928$608$387$240$147$27
38 years$893$578$362$222$133$23
39 years$861$549$339$204$121$20
40 years$830$523$318$188$109$17
41 years$801$498$298$174$99$14
42 years$773$474$280$160$90$12
43 years$746$452$263$148$82$11
44 years$721$430$247$137$74$9
45 years$697$410$231$126$67$8
46 years$674$392$217$117$61$7
47 years$653$374$204$108$56$6
48 years$632$357$192$100$50$5
49 years$612$341$180$92$46$4
50 years$593$325$170$85$42$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $607,000, adding $3,046 every year, while hoping to spend $27,632 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: 28/48/24 Blend
59$607,000$607,000$607,000$607,000
60$672,056$639,885$630,476$685,759
61$711,205$641,839$622,197$698,726
62$753,422$642,963$612,714$710,021
63$798,989$643,186$601,959$721,584
64$848,219$642,436$589,857$733,454
65$901,454$640,631$576,334$745,678
66$959,071$637,691$561,310$758,312
67$1,021,483$633,524$544,700$771,417
68$1,089,145$628,038$526,419$785,065
69$1,162,559$621,132$506,374$799,338
70$1,242,273$612,702$484,472$814,328
71$1,328,894$602,633$460,611$830,142
72$1,423,088$590,809$434,688$846,898
73$1,525,587$577,102$406,594$864,734
74$1,637,197$561,381$376,215$883,801
75$1,758,805$543,502$343,432$904,275
76$1,891,388$523,319$308,122$926,349
77$2,036,020$500,671$270,153$950,244
78$2,193,882$475,393$229,392$976,207
79$2,366,278$447,306$185,697$1,004,516
80$2,554,639$416,226$138,919$1,035,481
81$2,760,544$381,952$88,904$1,069,453
82$2,985,730$344,278$35,492$1,106,821
83$3,232,107$302,981$0$1,148,024
84$3,501,784$257,828$0$1,199,057
85$3,797,077$208,573$0$1,265,016
86$4,120,540$154,954$0$1,337,460
87$4,474,986$96,698$0$1,417,117
88$4,863,511$33,513$0$1,504,795
89$5,289,526$0$0$1,601,393
90$5,756,788$0$0$1,726,344
91$6,269,433$0$0$1,882,952
92$6,832,021$0$0$2,054,920
93$7,449,570$0$0$2,243,796
94$8,127,610$0$0$2,451,285
95$8,872,234$0$0$2,679,264
96$9,690,151$0$0$2,929,802
97$10,588,753$0$0$3,205,179
98$11,576,184$0$0$3,507,905
99$12,661,416$0$0$3,840,747
100$13,854,332$0$0$4,206,752