Can I retire at age 60 with 623,000?

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 $623,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$51,447$50,988$50,541$50,105$49,679$48,997
2 years$25,469$24,994$24,535$24,089$23,657$22,971
3 years$16,810$16,334$15,876$15,434$15,009$14,341
4 years$12,482$12,007$11,553$11,119$10,704$10,059
5 years$9,886$9,414$8,966$8,541$8,137$7,516
6 years$8,156$7,687$7,246$6,830$6,439$5,843
7 years$6,920$6,456$6,021$5,615$5,236$4,666
8 years$5,994$5,534$5,106$4,711$4,344$3,799
9 years$5,274$4,818$4,398$4,012$3,658$3,138
10 years$4,698$4,247$3,834$3,459$3,117$2,622
11 years$4,228$3,781$3,376$3,010$2,681$2,209
12 years$3,836$3,393$2,996$2,640$2,323$1,875
13 years$3,504$3,067$2,677$2,331$2,026$1,601
14 years$3,221$2,787$2,405$2,069$1,776$1,374
15 years$2,975$2,546$2,171$1,845$1,564$1,183
16 years$2,760$2,336$1,969$1,652$1,382$1,022
17 years$2,571$2,152$1,791$1,485$1,225$886
18 years$2,403$1,988$1,635$1,338$1,089$770
19 years$2,252$1,843$1,497$1,209$971$670
20 years$2,117$1,712$1,374$1,095$867$584
21 years$1,995$1,595$1,264$994$776$510
22 years$1,885$1,489$1,165$903$696$446
23 years$1,784$1,392$1,075$823$625$391
24 years$1,691$1,305$995$750$561$343
25 years$1,606$1,224$921$685$505$301
26 years$1,528$1,151$854$627$455$264
27 years$1,456$1,083$793$574$410$232
28 years$1,389$1,020$738$526$370$204
29 years$1,326$963$686$482$334$179
30 years$1,268$909$639$442$302$158
31 years$1,214$859$596$406$273$139
32 years$1,163$813$556$373$247$122
33 years$1,116$770$519$343$224$108
34 years$1,071$730$485$316$202$95
35 years$1,029$692$454$291$183$83
36 years$989$657$424$268$166$74
37 years$952$624$397$247$151$65
38 years$917$593$372$227$136$57
39 years$883$564$348$210$124$50
40 years$852$537$327$193$112$44
41 years$822$511$306$178$102$39
42 years$793$486$287$165$92$35
43 years$766$463$270$152$84$30
44 years$740$442$253$140$76$27
45 years$716$421$238$130$69$24
46 years$692$402$223$120$63$21
47 years$670$384$210$111$57$18
48 years$648$366$197$102$52$16
49 years$628$350$185$94$47$14
50 years$608$334$174$87$43$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $623,000, adding $6,388 every year, while hoping to spend $42,101 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: 81/10/9 Blend
59$623,000$623,000$623,000$623,000
60$693,135$660,116$650,460$747,859
61$719,040$647,667$627,455$772,188
62$746,176$633,196$602,269$792,677
63$774,624$616,561$574,783$813,901
64$804,473$597,610$544,875$835,910
65$835,817$576,181$512,417$858,762
66$868,761$552,105$477,274$882,519
67$903,418$525,201$439,305$907,250
68$939,911$495,279$398,366$933,031
69$978,372$462,138$354,301$959,945
70$1,018,948$425,565$306,952$988,087
71$1,061,797$385,335$256,152$1,017,559
72$1,107,093$341,208$201,726$1,048,474
73$1,155,024$292,935$143,491$1,080,957
74$1,205,797$240,250$81,258$1,115,148
75$1,259,637$182,871$14,829$1,151,200
76$1,316,790$120,502$0$1,189,283
77$1,377,526$52,830$0$1,234,967
78$1,442,140$0$0$1,284,947
79$1,510,954$0$0$1,340,301
80$1,584,320$0$0$1,405,525
81$1,662,627$0$0$1,475,150
82$1,746,296$0$0$1,549,553
83$1,835,794$0$0$1,629,150
84$1,931,629$0$0$1,714,394
85$2,034,359$0$0$1,805,784
86$2,144,598$0$0$1,903,866
87$2,263,016$0$0$2,009,240
88$2,390,354$0$0$2,122,565
89$2,527,419$0$0$2,244,562
90$2,675,103$0$0$2,376,027
91$2,834,382$0$0$2,517,830
92$3,006,330$0$0$2,670,930
93$3,192,126$0$0$2,836,378
94$3,393,066$0$0$3,015,333
95$3,610,575$0$0$3,209,064
96$3,846,220$0$0$3,418,971
97$4,101,723$0$0$3,646,589
98$4,378,977$0$0$3,893,609
99$4,680,066$0$0$4,161,890
100$5,007,281$0$0$4,453,476