Can I retire at age 60 with 624,000?

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 $624,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$51,529$51,070$50,623$50,185$49,759$48,975
2 years$25,510$25,034$24,574$24,128$23,695$22,907
3 years$16,837$16,360$15,901$15,459$15,033$14,266
4 years$12,502$12,027$11,572$11,137$10,722$9,981
5 years$9,902$9,429$8,980$8,554$8,150$7,438
6 years$8,169$7,699$7,257$6,841$6,449$5,767
7 years$6,931$6,466$6,031$5,624$5,245$4,592
8 years$6,004$5,543$5,115$4,718$4,351$3,728
9 years$5,283$4,826$4,405$4,019$3,664$3,071
10 years$4,706$4,254$3,841$3,464$3,122$2,557
11 years$4,235$3,787$3,381$3,015$2,685$2,149
12 years$3,842$3,399$3,001$2,645$2,327$1,818
13 years$3,510$3,072$2,681$2,335$2,029$1,547
14 years$3,226$2,792$2,409$2,073$1,779$1,323
15 years$2,980$2,551$2,175$1,848$1,566$1,135
16 years$2,765$2,340$1,972$1,655$1,384$978
17 years$2,575$2,155$1,794$1,487$1,227$844
18 years$2,407$1,991$1,638$1,340$1,091$731
19 years$2,256$1,846$1,499$1,211$973$634
20 years$2,121$1,715$1,376$1,097$869$551
21 years$1,999$1,597$1,266$995$777$479
22 years$1,888$1,491$1,167$905$697$418
23 years$1,786$1,395$1,077$824$626$364
24 years$1,694$1,307$996$752$562$318
25 years$1,609$1,226$923$686$506$278
26 years$1,530$1,153$856$628$456$243
27 years$1,458$1,085$795$575$411$213
28 years$1,391$1,022$739$526$371$186
29 years$1,328$964$687$483$335$163
30 years$1,270$911$640$443$302$143
31 years$1,216$861$597$407$273$125
32 years$1,165$814$557$374$247$110
33 years$1,117$771$520$344$224$96
34 years$1,073$731$486$316$203$84
35 years$1,031$693$454$291$184$74
36 years$991$658$425$268$166$65
37 years$954$625$398$247$151$57
38 years$918$594$372$228$137$50
39 years$885$565$349$210$124$44
40 years$853$537$327$194$112$39
41 years$823$512$307$179$102$34
42 years$794$487$288$165$93$30
43 years$767$464$270$152$84$26
44 years$741$443$253$141$76$23
45 years$717$422$238$130$69$20
46 years$693$403$223$120$63$18
47 years$671$384$210$111$57$16
48 years$649$367$197$102$52$14
49 years$629$350$185$95$47$12
50 years$609$335$174$87$43$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $624,000, adding $4,428 every year, while hoping to spend $23,132 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: 67/7/26 Blend
59$624,000$624,000$624,000$624,000
60$692,215$659,143$649,471$733,643
61$738,209$666,829$646,617$769,748
62$788,119$674,116$642,891$806,194
63$842,320$680,961$638,240$845,530
64$901,224$687,316$632,609$888,042
65$965,286$693,131$625,938$934,044
66$1,035,005$698,354$618,167$983,886
67$1,110,929$702,927$609,229$1,037,951
68$1,193,664$706,791$599,058$1,096,663
69$1,283,874$709,880$587,584$1,160,491
70$1,382,293$712,127$574,731$1,229,948
71$1,489,725$713,460$560,423$1,305,605
72$1,607,058$713,801$544,578$1,388,089
73$1,735,269$713,067$527,112$1,478,093
74$1,875,432$711,174$507,936$1,576,380
75$2,028,731$708,027$486,957$1,683,792
76$2,196,470$703,529$464,079$1,801,259
77$2,380,085$697,576$439,200$1,929,805
78$2,581,154$690,057$412,214$2,070,562
79$2,801,419$680,857$383,010$2,224,775
80$3,042,796$669,852$351,473$2,393,820
81$3,307,396$656,909$317,482$2,579,213
82$3,597,543$641,891$280,911$2,782,627
83$3,915,799$624,650$241,628$3,005,905
84$4,264,982$605,030$199,494$3,251,083
85$4,648,200$582,866$154,367$3,520,402
86$5,068,875$557,985$106,097$3,816,336
87$5,530,775$530,200$54,526$4,141,613
88$6,038,052$499,318$0$4,499,240
89$6,595,280$465,132$0$4,892,674
90$7,207,498$427,423$0$5,341,582
91$7,880,257$385,960$0$5,834,903
92$8,619,671$340,500$0$6,377,134
93$9,432,477$290,785$0$6,973,229
94$10,326,099$236,542$0$7,628,649
95$11,308,712$177,484$0$8,349,409
96$12,389,326$113,306$0$9,142,138
97$13,577,867$43,688$0$10,014,141
98$14,885,272$0$0$10,973,468
99$16,323,590$0$0$12,031,432
100$17,906,096$0$0$13,199,200