Can I retire at age 60 with 616,000?

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 $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%11.5%
1 years$50,869$50,416$49,974$49,542$49,121$48,811
2 years$25,183$24,714$24,259$23,818$23,391$23,079
3 years$16,622$16,151$15,697$15,261$14,840$14,535
4 years$12,342$11,872$11,424$10,994$10,584$10,288
5 years$9,775$9,308$8,865$8,445$8,046$7,760
6 years$8,064$7,601$7,164$6,753$6,366$6,091
7 years$6,842$6,383$5,954$5,552$5,178$4,913
8 years$5,927$5,471$5,049$4,658$4,295$4,042
9 years$5,215$4,764$4,349$3,967$3,617$3,374
10 years$4,646$4,199$3,791$3,420$3,082$2,849
11 years$4,180$3,738$3,338$2,976$2,651$2,428
12 years$3,793$3,355$2,962$2,611$2,297$2,085
13 years$3,465$3,032$2,647$2,305$2,003$1,801
14 years$3,184$2,756$2,378$2,046$1,756$1,563
15 years$2,942$2,518$2,147$1,825$1,546$1,363
16 years$2,729$2,310$1,947$1,634$1,366$1,193
17 years$2,542$2,127$1,771$1,468$1,212$1,047
18 years$2,376$1,966$1,617$1,323$1,077$921
19 years$2,227$1,822$1,480$1,195$960$812
20 years$2,094$1,693$1,359$1,083$858$718
21 years$1,973$1,577$1,250$983$767$635
22 years$1,863$1,472$1,152$893$688$563
23 years$1,764$1,377$1,063$814$618$500
24 years$1,672$1,290$983$742$555$444
25 years$1,588$1,211$911$678$499$395
26 years$1,511$1,138$845$620$450$352
27 years$1,439$1,071$784$567$406$314
28 years$1,373$1,009$729$520$366$280
29 years$1,311$952$679$477$330$250
30 years$1,254$899$632$437$299$223
31 years$1,200$850$589$402$270$199
32 years$1,150$804$550$369$244$178
33 years$1,103$761$513$339$221$159
34 years$1,059$722$480$312$200$142
35 years$1,017$685$448$288$181$127
36 years$978$650$420$265$164$114
37 years$941$617$393$244$149$102
38 years$907$586$368$225$135$91
39 years$873$558$345$207$122$82
40 years$842$531$323$191$111$73
41 years$812$505$303$176$101$65
42 years$784$481$284$163$91$59
43 years$757$458$267$150$83$53
44 years$732$437$250$139$75$47
45 years$708$417$235$128$68$42
46 years$684$397$221$118$62$38
47 years$662$379$207$109$56$34
48 years$641$362$195$101$51$30
49 years$621$346$183$93$46$27
50 years$601$330$172$86$42$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $616,000, adding $6,019 every year, while hoping to spend $24,374 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: 48/45/7 Blend
59$616,000$616,000$616,000$616,000
60$685,041$652,393$642,845$716,372
61$728,981$658,426$638,446$744,503
62$776,586$663,938$633,083$771,958
63$828,205$668,878$626,698$801,194
64$884,219$673,191$619,230$832,382
65$945,051$676,818$610,615$865,714
66$1,011,162$679,698$600,787$901,401
67$1,083,063$681,765$589,676$939,676
68$1,161,313$682,950$577,208$980,797
69$1,246,530$683,178$563,308$1,025,049
70$1,339,393$682,370$547,895$1,072,750
71$1,440,647$680,442$530,886$1,124,248
72$1,551,115$677,306$512,193$1,179,931
73$1,671,702$672,868$491,724$1,240,225
74$1,803,404$667,026$469,385$1,305,603
75$1,947,317$659,676$445,075$1,376,588
76$2,104,648$650,704$418,690$1,453,759
77$2,276,725$639,992$390,119$1,537,753
78$2,465,013$627,414$359,250$1,629,277
79$2,671,122$612,835$325,963$1,729,112
80$2,896,827$596,114$290,133$1,838,120
81$3,144,080$577,101$251,629$1,957,255
82$3,415,035$555,637$210,317$2,087,570
83$3,712,060$531,555$166,055$2,230,229
84$4,037,766$504,677$118,693$2,386,518
85$4,395,026$474,814$68,077$2,557,859
86$4,787,008$441,769$14,047$2,745,819
87$5,217,197$405,330$0$2,952,134
88$5,689,436$365,277$0$3,181,974
89$6,207,957$321,373$0$3,435,527
90$6,777,419$273,371$0$3,714,093
91$7,402,959$221,010$0$4,020,263
92$8,090,233$164,011$0$4,356,899
93$8,845,471$102,082$0$4,727,159
94$9,675,541$34,915$0$5,134,529
95$10,588,003$0$0$5,582,854
96$11,591,193$0$0$6,095,107
97$12,694,288$0$0$6,677,462
98$13,907,405$0$0$7,317,977
99$15,241,686$0$0$8,022,545
100$16,709,409$0$0$8,797,662