Can I retire at age 60 with 616,000?

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 $616,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$50,869$50,416$49,974$49,542$49,121$47,265
2 years$25,183$24,714$24,259$23,818$23,391$21,543
3 years$16,622$16,151$15,697$15,261$14,840$13,058
4 years$12,342$11,872$11,424$10,994$10,584$8,881
5 years$9,775$9,308$8,865$8,445$8,046$6,427
6 years$8,064$7,601$7,164$6,753$6,366$4,832
7 years$6,842$6,383$5,954$5,552$5,178$3,728
8 years$5,927$5,471$5,049$4,658$4,295$2,929
9 years$5,215$4,764$4,349$3,967$3,617$2,332
10 years$4,646$4,199$3,791$3,420$3,082$1,876
11 years$4,180$3,738$3,338$2,976$2,651$1,520
12 years$3,793$3,355$2,962$2,611$2,297$1,240
13 years$3,465$3,032$2,647$2,305$2,003$1,016
14 years$3,184$2,756$2,378$2,046$1,756$836
15 years$2,942$2,518$2,147$1,825$1,546$690
16 years$2,729$2,310$1,947$1,634$1,366$571
17 years$2,542$2,127$1,771$1,468$1,212$473
18 years$2,376$1,966$1,617$1,323$1,077$393
19 years$2,227$1,822$1,480$1,195$960$327
20 years$2,094$1,693$1,359$1,083$858$272
21 years$1,973$1,577$1,250$983$767$227
22 years$1,863$1,472$1,152$893$688$189
23 years$1,764$1,377$1,063$814$618$158
24 years$1,672$1,290$983$742$555$132
25 years$1,588$1,211$911$678$499$110
26 years$1,511$1,138$845$620$450$92
27 years$1,439$1,071$784$567$406$77
28 years$1,373$1,009$729$520$366$64
29 years$1,311$952$679$477$330$54
30 years$1,254$899$632$437$299$45
31 years$1,200$850$589$402$270$38
32 years$1,150$804$550$369$244$32
33 years$1,103$761$513$339$221$26
34 years$1,059$722$480$312$200$22
35 years$1,017$685$448$288$181$19
36 years$978$650$420$265$164$16
37 years$941$617$393$244$149$13
38 years$907$586$368$225$135$11
39 years$873$558$345$207$122$9
40 years$842$531$323$191$111$8
41 years$812$505$303$176$101$6
42 years$784$481$284$163$91$5
43 years$757$458$267$150$83$4
44 years$732$437$250$139$75$4
45 years$708$417$235$128$68$3
46 years$684$397$221$118$62$3
47 years$662$379$207$109$56$2
48 years$641$362$195$101$51$2
49 years$621$346$183$93$46$2
50 years$601$330$172$86$42$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $616,000, adding $3,029 every year, while hoping to spend $39,253 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: 61/14/25 Blend
59$616,000$616,000$616,000$616,000
60$681,956$649,308$639,760$718,838
61$709,751$639,360$619,427$734,285
62$739,065$627,608$597,098$746,597
63$770,012$613,923$572,663$759,182
64$802,716$598,168$546,010$772,075
65$837,312$580,197$517,020$785,313
66$873,948$559,856$485,570$798,942
67$912,783$536,982$451,530$813,013
68$953,996$511,403$414,764$827,584
69$997,777$482,936$375,133$842,721
70$1,044,338$451,387$332,488$858,499
71$1,093,910$416,554$286,675$875,004
72$1,146,743$378,220$237,533$892,332
73$1,203,115$336,157$184,895$910,592
74$1,263,329$290,124$128,584$929,907
75$1,327,715$239,867$68,418$950,415
76$1,396,637$185,116$4,206$972,271
77$1,470,495$125,588$0$995,652
78$1,549,725$60,981$0$1,037,910
79$1,634,808$0$0$1,084,421
80$1,726,271$0$0$1,135,756
81$1,824,691$0$0$1,201,138
82$1,930,703$0$0$1,271,600
83$2,045,005$0$0$1,347,609
84$2,168,364$0$0$1,429,680
85$2,301,620$0$0$1,518,377
86$2,445,699$0$0$1,614,322
87$2,601,617$0$0$1,718,197
88$2,770,492$0$0$1,830,753
89$2,953,553$0$0$1,952,814
90$3,152,152$0$0$2,085,288
91$3,367,773$0$0$2,229,173
92$3,602,052$0$0$2,385,567
93$3,856,786$0$0$2,555,676
94$4,133,954$0$0$2,740,831
95$4,435,733$0$0$2,942,492
96$4,764,516$0$0$3,162,269
97$5,122,940$0$0$3,401,932
98$5,513,905$0$0$3,663,429
99$5,940,604$0$0$3,948,906
100$6,406,550$0$0$4,260,724