Can I retire at age 60 with 612,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $612,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$50,538$50,088$49,649$49,220$48,802$48,393
2 years$25,019$24,553$24,101$23,664$23,239$22,827
3 years$16,514$16,046$15,595$15,162$14,744$14,341
4 years$12,262$11,795$11,349$10,923$10,515$10,125
5 years$9,711$9,248$8,808$8,390$7,994$7,618
6 years$8,012$7,551$7,118$6,709$6,325$5,963
7 years$6,798$6,342$5,915$5,516$5,144$4,797
8 years$5,888$5,436$5,016$4,627$4,267$3,934
9 years$5,181$4,733$4,321$3,942$3,594$3,275
10 years$4,615$4,172$3,767$3,398$3,062$2,758
11 years$4,153$3,714$3,316$2,957$2,633$2,343
12 years$3,768$3,333$2,943$2,594$2,282$2,005
13 years$3,443$3,012$2,629$2,290$1,990$1,727
14 years$3,164$2,738$2,363$2,033$1,744$1,494
15 years$2,922$2,501$2,133$1,813$1,536$1,298
16 years$2,711$2,295$1,934$1,623$1,357$1,132
17 years$2,525$2,114$1,760$1,458$1,204$990
18 years$2,360$1,953$1,606$1,314$1,070$868
19 years$2,213$1,810$1,471$1,188$954$763
20 years$2,080$1,682$1,350$1,076$852$672
21 years$1,960$1,567$1,241$976$762$592
22 years$1,851$1,463$1,144$888$683$523
23 years$1,752$1,368$1,056$808$614$463
24 years$1,661$1,282$977$737$551$410
25 years$1,578$1,203$905$673$496$363
26 years$1,501$1,130$839$616$447$322
27 years$1,430$1,064$779$563$403$286
28 years$1,364$1,002$725$516$364$254
29 years$1,303$946$674$473$328$226
30 years$1,246$893$628$434$297$201
31 years$1,193$844$585$399$268$178
32 years$1,143$799$546$367$243$159
33 years$1,096$757$510$337$220$141
34 years$1,052$717$477$310$199$126
35 years$1,011$680$446$286$180$112
36 years$972$645$417$263$163$100
37 years$935$613$390$242$148$89
38 years$901$583$365$223$134$79
39 years$868$554$342$206$122$71
40 years$837$527$321$190$110$63
41 years$807$502$301$175$100$56
42 years$779$478$282$162$91$50
43 years$753$455$265$149$82$45
44 years$727$434$249$138$75$40
45 years$703$414$233$127$68$36
46 years$680$395$219$118$62$32
47 years$658$377$206$109$56$28
48 years$637$360$194$100$51$25
49 years$617$343$182$93$46$23
50 years$598$328$171$86$42$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $612,000, adding $2,311 every year, while hoping to spend $56,503 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: 68/5/27 Blend
59$612,000$612,000$612,000$612,000
60$676,808$644,372$634,886$717,939
61$685,723$615,827$596,036$717,336
62$693,655$583,990$553,990$710,030
63$700,442$548,640$508,583$700,749
64$705,906$509,542$459,640$689,298
65$709,849$466,451$406,979$675,466
66$712,051$419,104$350,409$659,020
67$712,265$367,225$289,734$639,708
68$710,221$310,524$224,744$617,251
69$705,615$248,691$155,225$591,348
70$698,112$181,402$80,949$561,666
71$687,341$108,311$1,682$527,844
72$672,888$29,057$0$489,485
73$654,298$0$0$470,041
74$631,064$0$0$450,343
75$602,625$0$0$428,322
76$568,363$0$0$401,915
77$527,591$0$0$370,606
78$479,549$0$0$333,825
79$423,398$0$0$290,944
80$358,211$0$0$241,266
81$282,960$0$0$184,021
82$196,513$0$0$118,358
83$97,616$0$0$43,338
84$0$0$0$0
85$0$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0