Can I retire at age 60 with 608,000?

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 $608,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$50,208$49,761$49,325$48,899$48,483$48,117
2 years$24,855$24,393$23,944$23,509$23,087$22,718
3 years$16,406$15,941$15,493$15,062$14,647$14,287
4 years$12,182$11,718$11,275$10,852$10,447$10,097
5 years$9,648$9,187$8,750$8,335$7,941$7,604
6 years$7,959$7,502$7,071$6,666$6,284$5,959
7 years$6,754$6,300$5,876$5,480$5,110$4,799
8 years$5,850$5,400$4,984$4,597$4,240$3,941
9 years$5,147$4,702$4,292$3,916$3,570$3,284
10 years$4,585$4,145$3,742$3,375$3,042$2,769
11 years$4,126$3,690$3,295$2,938$2,616$2,355
12 years$3,743$3,312$2,924$2,577$2,267$2,018
13 years$3,420$2,993$2,612$2,275$1,977$1,740
14 years$3,143$2,720$2,347$2,019$1,733$1,508
15 years$2,903$2,485$2,119$1,801$1,526$1,312
16 years$2,694$2,280$1,921$1,613$1,349$1,145
17 years$2,509$2,100$1,748$1,449$1,196$1,003
18 years$2,345$1,940$1,596$1,306$1,063$881
19 years$2,198$1,798$1,461$1,180$948$775
20 years$2,066$1,671$1,341$1,069$846$683
21 years$1,947$1,557$1,233$970$758$604
22 years$1,839$1,453$1,137$882$679$534
23 years$1,741$1,359$1,050$803$610$473
24 years$1,650$1,273$971$732$548$419
25 years$1,568$1,195$899$669$493$372
26 years$1,491$1,123$834$612$444$331
27 years$1,421$1,057$774$560$400$294
28 years$1,355$996$720$513$361$261
29 years$1,294$939$670$470$326$233
30 years$1,238$887$624$432$295$207
31 years$1,185$839$582$396$266$185
32 years$1,135$794$543$364$241$165
33 years$1,089$752$507$335$218$147
34 years$1,045$712$473$308$198$131
35 years$1,004$676$443$284$179$117
36 years$966$641$414$261$162$104
37 years$929$609$388$241$147$93
38 years$895$579$363$222$133$83
39 years$862$550$340$205$121$74
40 years$831$524$319$189$110$66
41 years$802$498$299$174$99$59
42 years$774$475$280$161$90$53
43 years$748$452$263$148$82$47
44 years$722$431$247$137$74$42
45 years$698$411$232$127$67$38
46 years$675$392$218$117$61$34
47 years$654$374$205$108$56$30
48 years$633$357$192$100$50$27
49 years$613$341$181$92$46$24
50 years$594$326$170$85$42$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $608,000, adding $2,752 every year, while hoping to spend $35,550 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: 74/6/20 Blend
59$608,000$608,000$608,000$608,000
60$672,855$640,631$631,207$719,250
61$703,661$634,197$614,527$743,980
62$736,418$626,256$596,097$766,485
63$771,287$616,697$575,821$790,232
64$808,445$605,402$553,598$815,337
65$848,086$592,246$529,323$841,929
66$890,421$577,096$502,885$870,149
67$935,683$559,813$474,171$900,155
68$984,126$540,248$443,060$932,119
69$1,036,031$518,243$409,426$966,235
70$1,091,702$493,633$373,138$1,002,714
71$1,151,477$466,243$334,059$1,041,792
72$1,215,724$435,885$292,047$1,083,728
73$1,284,849$402,364$246,951$1,128,809
74$1,359,295$365,472$198,616$1,177,353
75$1,439,552$324,989$146,878$1,229,711
76$1,526,156$280,683$91,568$1,286,270
77$1,619,696$232,309$32,508$1,347,459
78$1,720,821$179,607$0$1,413,752
79$1,830,241$122,304$0$1,492,186
80$1,948,740$60,112$0$1,584,652
81$2,077,178$0$0$1,684,888
82$2,216,501$0$0$1,794,125
83$2,367,749$0$0$1,917,044
84$2,532,068$0$0$2,050,607
85$2,710,716$0$0$2,195,842
86$2,905,077$0$0$2,353,878
87$3,116,677$0$0$2,525,955
88$3,347,191$0$0$2,713,442
89$3,598,464$0$0$2,917,843
90$3,872,529$0$0$3,140,813
91$4,171,619$0$0$3,384,175
92$4,498,194$0$0$3,649,933
93$4,854,965$0$0$3,940,297
94$5,244,911$0$0$4,257,698
95$5,671,317$0$0$4,604,811
96$6,137,796$0$0$4,984,584
97$6,648,327$0$0$5,400,261
98$7,207,294$0$0$5,855,416
99$7,819,522$0$0$6,353,983
100$8,490,325$0$0$6,900,295