Can I retire at age 60 with 618,000?

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 $618,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$51,034$50,579$50,136$49,703$49,280$48,167
2 years$25,264$24,794$24,338$23,896$23,467$22,351
3 years$16,676$16,203$15,748$15,310$14,888$13,805
4 years$12,382$11,911$11,461$11,030$10,618$9,576
5 years$9,807$9,338$8,894$8,472$8,072$7,074
6 years$8,090$7,625$7,188$6,775$6,387$5,433
7 years$6,865$6,404$5,973$5,570$5,194$4,286
8 years$5,946$5,489$5,066$4,673$4,309$3,445
9 years$5,232$4,779$4,363$3,980$3,629$2,809
10 years$4,661$4,213$3,804$3,431$3,092$2,315
11 years$4,194$3,750$3,349$2,986$2,659$1,924
12 years$3,805$3,366$2,972$2,619$2,305$1,610
13 years$3,476$3,042$2,655$2,312$2,010$1,355
14 years$3,195$2,765$2,386$2,053$1,762$1,145
15 years$2,951$2,526$2,154$1,831$1,551$972
16 years$2,738$2,318$1,953$1,639$1,371$827
17 years$2,550$2,134$1,777$1,473$1,215$705
18 years$2,383$1,972$1,622$1,327$1,081$603
19 years$2,234$1,828$1,485$1,199$963$517
20 years$2,100$1,699$1,363$1,086$860$443
21 years$1,979$1,582$1,254$986$770$381
22 years$1,869$1,477$1,155$896$690$327
23 years$1,769$1,381$1,067$816$620$282
24 years$1,678$1,294$987$744$557$243
25 years$1,593$1,215$914$680$501$209
26 years$1,516$1,141$848$622$451$180
27 years$1,444$1,074$787$569$407$156
28 years$1,377$1,012$732$521$367$134
29 years$1,316$955$681$478$332$116
30 years$1,258$902$634$439$300$100
31 years$1,204$853$591$403$271$87
32 years$1,154$807$552$370$245$75
33 years$1,107$764$515$341$222$65
34 years$1,062$724$481$313$201$56
35 years$1,021$687$450$288$182$48
36 years$982$652$421$266$165$42
37 years$944$619$394$245$149$36
38 years$909$588$369$226$135$31
39 years$876$559$346$208$123$27
40 years$845$532$324$192$111$24
41 years$815$507$304$177$101$20
42 years$787$483$285$163$92$18
43 years$760$460$267$151$83$15
44 years$734$438$251$139$76$13
45 years$710$418$236$129$69$11
46 years$687$399$221$119$62$10
47 years$664$380$208$110$57$9
48 years$643$363$195$101$51$7
49 years$623$347$184$94$47$6
50 years$603$331$173$87$42$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $618,000, adding $6,634 every year, while hoping to spend $37,887 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: 48/34/18 Blend
59$618,000$618,000$618,000$618,000
60$687,879$655,125$645,546$717,118
61$717,731$646,915$626,860$729,883
62$749,358$637,032$606,279$739,350
63$782,902$625,356$583,698$748,822
64$818,516$611,756$559,010$758,313
65$856,369$596,096$532,101$767,845
66$896,645$578,232$502,853$777,440
67$939,546$558,009$471,142$787,128
68$985,295$535,266$436,840$796,943
69$1,034,131$509,830$399,811$806,929
70$1,086,322$481,521$359,914$817,133
71$1,142,157$450,146$317,001$827,615
72$1,201,956$415,502$270,920$838,442
73$1,266,069$377,375$221,509$849,692
74$1,334,879$335,537$168,600$861,457
75$1,408,807$289,749$112,018$873,842
76$1,488,315$239,756$51,581$886,965
77$1,573,911$185,293$0$900,966
78$1,666,152$126,074$0$918,482
79$1,765,651$61,803$0$947,943
80$1,873,079$0$0$979,677
81$1,989,176$0$0$1,016,887
82$2,114,754$0$0$1,082,200
83$2,250,704$0$0$1,152,965
84$2,398,010$0$0$1,229,701
85$2,557,750$0$0$1,312,976
86$2,731,110$0$0$1,403,417
87$2,919,395$0$0$1,501,714
88$3,124,042$0$0$1,608,624
89$3,346,629$0$0$1,724,982
90$3,588,893$0$0$1,851,705
91$3,852,747$0$0$1,989,803
92$4,140,295$0$0$2,140,387
93$4,453,851$0$0$2,304,682
94$4,795,965$0$0$2,484,032
95$5,169,440$0$0$2,679,921
96$5,577,365$0$0$2,893,980
97$6,023,138$0$0$3,128,006
98$6,510,502$0$0$3,383,975
99$7,043,577$0$0$3,664,066
100$7,626,899$0$0$3,970,676