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%19.9%
1 years$51,447$50,988$50,541$50,105$49,679$47,708
2 years$25,469$24,994$24,535$24,089$23,657$21,695
3 years$16,810$16,334$15,876$15,434$15,009$13,119
4 years$12,482$12,007$11,553$11,119$10,704$8,900
5 years$9,886$9,414$8,966$8,541$8,137$6,424
6 years$8,156$7,687$7,246$6,830$6,439$4,817
7 years$6,920$6,456$6,021$5,615$5,236$3,705
8 years$5,994$5,534$5,106$4,711$4,344$2,902
9 years$5,274$4,818$4,398$4,012$3,658$2,304
10 years$4,698$4,247$3,834$3,459$3,117$1,847
11 years$4,228$3,781$3,376$3,010$2,681$1,492
12 years$3,836$3,393$2,996$2,640$2,323$1,213
13 years$3,504$3,067$2,677$2,331$2,026$991
14 years$3,221$2,787$2,405$2,069$1,776$812
15 years$2,975$2,546$2,171$1,845$1,564$668
16 years$2,760$2,336$1,969$1,652$1,382$551
17 years$2,571$2,152$1,791$1,485$1,225$455
18 years$2,403$1,988$1,635$1,338$1,089$376
19 years$2,252$1,843$1,497$1,209$971$312
20 years$2,117$1,712$1,374$1,095$867$259
21 years$1,995$1,595$1,264$994$776$215
22 years$1,885$1,489$1,165$903$696$178
23 years$1,784$1,392$1,075$823$625$148
24 years$1,691$1,305$995$750$561$123
25 years$1,606$1,224$921$685$505$103
26 years$1,528$1,151$854$627$455$86
27 years$1,456$1,083$793$574$410$71
28 years$1,389$1,020$738$526$370$59
29 years$1,326$963$686$482$334$49
30 years$1,268$909$639$442$302$41
31 years$1,214$859$596$406$273$34
32 years$1,163$813$556$373$247$29
33 years$1,116$770$519$343$224$24
34 years$1,071$730$485$316$202$20
35 years$1,029$692$454$291$183$17
36 years$989$657$424$268$166$14
37 years$952$624$397$247$151$12
38 years$917$593$372$227$136$10
39 years$883$564$348$210$124$8
40 years$852$537$327$193$112$7
41 years$822$511$306$178$102$6
42 years$793$486$287$165$92$5
43 years$766$463$270$152$84$4
44 years$740$442$253$140$76$3
45 years$716$421$238$130$69$3
46 years$692$402$223$120$63$2
47 years$670$384$210$111$57$2
48 years$648$366$197$102$52$2
49 years$628$350$185$94$47$1
50 years$608$334$174$87$43$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $623,000, adding $4,629 every year, while hoping to spend $20,601 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: 50/43/7 Blend
59$623,000$623,000$623,000$623,000
60$691,321$658,302$648,645$724,429
61$739,916$668,639$648,456$757,841
62$792,778$678,793$647,569$791,535
63$850,319$688,732$645,941$827,658
64$912,995$698,423$643,523$866,444
65$981,306$707,831$640,267$908,148
66$1,055,804$716,919$636,120$953,053
67$1,137,093$725,646$631,027$1,001,472
68$1,225,843$733,968$624,933$1,053,748
69$1,322,787$741,841$617,776$1,110,261
70$1,428,734$749,214$609,495$1,171,431
71$1,544,576$756,036$600,023$1,237,719
72$1,671,291$762,251$589,293$1,309,637
73$1,809,961$767,799$577,232$1,387,746
74$1,961,773$772,617$563,766$1,472,668
75$2,128,036$776,638$548,814$1,565,088
76$2,310,193$779,790$532,296$1,665,763
77$2,509,830$781,997$514,126$1,775,525
78$2,728,696$783,179$494,212$1,895,297
79$2,968,716$783,248$472,462$2,026,093
80$3,232,012$782,114$448,776$2,169,034
81$3,520,919$779,679$423,052$2,325,355
82$3,838,012$775,842$395,183$2,496,421
83$4,186,123$770,492$365,055$2,683,736
84$4,568,375$763,514$332,552$2,888,960
85$4,988,208$754,785$297,552$3,113,924
86$5,449,411$744,175$259,925$3,360,646
87$5,956,157$731,546$219,539$3,631,357
88$6,513,045$716,751$176,253$3,928,512
89$7,125,140$699,637$129,922$4,254,823
90$7,798,023$680,038$80,394$4,613,281
91$8,537,843$657,782$27,509$5,007,183
92$9,351,375$632,684$0$5,440,168
93$10,246,080$604,551$0$5,918,407
94$11,230,183$573,177$0$6,446,500
95$12,312,743$538,344$0$7,027,282
96$13,503,742$499,822$0$7,666,151
97$14,814,178$457,368$0$8,369,056
98$16,256,171$410,725$0$9,142,559
99$17,843,071$359,621$0$9,993,894
100$19,589,591$303,770$0$10,931,038