Can I retire at age 60 with 622,000?

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 $622,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$51,364$50,907$50,460$50,025$49,599$47,801
2 years$25,428$24,954$24,495$24,050$23,619$21,827
3 years$16,783$16,308$15,850$15,409$14,985$13,256
4 years$12,462$11,988$11,535$11,101$10,687$9,034
5 years$9,870$9,399$8,951$8,527$8,124$6,551
6 years$8,143$7,675$7,234$6,819$6,428$4,937
7 years$6,909$6,445$6,012$5,606$5,228$3,817
8 years$5,984$5,525$5,098$4,703$4,337$3,006
9 years$5,266$4,810$4,391$4,006$3,653$2,399
10 years$4,691$4,240$3,828$3,453$3,112$1,935
11 years$4,221$3,775$3,370$3,005$2,677$1,572
12 years$3,830$3,388$2,991$2,636$2,319$1,286
13 years$3,499$3,062$2,672$2,327$2,023$1,057
14 years$3,215$2,783$2,401$2,066$1,773$872
15 years$2,970$2,542$2,168$1,842$1,561$721
16 years$2,756$2,333$1,966$1,650$1,380$599
17 years$2,567$2,148$1,789$1,482$1,223$498
18 years$2,399$1,985$1,633$1,336$1,088$415
19 years$2,249$1,840$1,495$1,207$970$346
20 years$2,114$1,710$1,372$1,093$866$289
21 years$1,992$1,592$1,262$992$775$242
22 years$1,882$1,486$1,163$902$695$202
23 years$1,781$1,390$1,074$822$624$169
24 years$1,688$1,303$993$749$560$142
25 years$1,604$1,222$920$684$504$119
26 years$1,525$1,149$853$626$454$100
27 years$1,453$1,081$792$573$410$84
28 years$1,386$1,019$736$525$370$70
29 years$1,324$961$685$481$334$59
30 years$1,266$908$638$442$302$49
31 years$1,212$858$595$406$273$42
32 years$1,161$812$555$373$247$35
33 years$1,114$769$518$343$223$29
34 years$1,069$729$484$315$202$25
35 years$1,027$691$453$290$183$21
36 years$988$656$424$267$166$17
37 years$951$623$396$246$150$15
38 years$915$592$371$227$136$12
39 years$882$563$348$209$124$10
40 years$850$536$326$193$112$9
41 years$820$510$306$178$102$7
42 years$792$486$287$164$92$6
43 years$765$463$269$152$84$5
44 years$739$441$253$140$76$4
45 years$714$421$237$129$69$4
46 years$691$401$223$120$63$3
47 years$669$383$209$110$57$3
48 years$647$366$197$102$52$2
49 years$627$349$185$94$47$2
50 years$607$333$174$87$43$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $622,000, adding $2,713 every year, while hoping to spend $39,298 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: 45/36/19 Blend
59$622,000$622,000$622,000$622,000
60$688,242$655,276$645,635$715,343
61$716,630$645,572$625,451$724,911
62$746,597$634,075$603,274$731,167
63$778,261$620,657$578,995$737,129
64$811,754$605,179$552,502$742,789
65$847,218$587,497$523,675$748,138
66$884,807$567,458$492,392$753,173
67$924,693$544,899$458,523$757,890
68$967,061$519,648$421,932$762,290
69$1,012,114$491,524$382,480$766,378
70$1,060,074$460,333$340,017$770,162
71$1,111,185$425,873$294,391$773,657
72$1,165,713$387,928$245,441$776,882
73$1,223,951$346,271$192,998$779,862
74$1,286,218$300,662$136,887$782,632
75$1,352,864$250,847$76,925$785,233
76$1,424,276$196,558$12,922$787,719
77$1,500,874$137,512$0$790,151
78$1,583,122$73,409$0$803,834
79$1,671,528$3,933$0$821,155
80$1,766,650$0$0$839,643
81$1,869,099$0$0$887,693
82$1,979,549$0$0$941,231
83$2,098,739$0$0$999,064
84$2,227,481$0$0$1,061,593
85$2,366,666$0$0$1,129,260
86$2,517,276$0$0$1,202,550
87$2,680,387$0$0$1,281,995
88$2,857,187$0$0$1,368,183
89$3,048,977$0$0$1,461,757
90$3,257,190$0$0$1,563,428
91$3,483,404$0$0$1,673,976
92$3,729,352$0$0$1,794,258
93$3,996,942$0$0$1,925,219
94$4,288,273$0$0$2,067,899
95$4,605,654$0$0$2,223,441
96$4,951,628$0$0$2,393,103
97$5,328,991$0$0$2,578,271
98$5,740,822$0$0$2,780,471
99$6,190,511$0$0$3,001,380
100$6,681,788$0$0$3,242,847