Can I retire at age 60 with 629,000?

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 $629,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$51,942$51,480$51,028$50,588$50,157$49,551
2 years$25,714$25,235$24,771$24,321$23,884$23,274
3 years$16,972$16,491$16,028$15,583$15,153$14,558
4 years$12,602$12,123$11,665$11,226$10,807$10,232
5 years$9,981$9,505$9,052$8,623$8,216$7,662
6 years$8,234$7,761$7,316$6,896$6,501$5,969
7 years$6,987$6,518$6,079$5,669$5,287$4,777
8 years$6,052$5,587$5,156$4,756$4,386$3,898
9 years$5,325$4,864$4,441$4,051$3,694$3,228
10 years$4,744$4,288$3,871$3,492$3,147$2,703
11 years$4,269$3,817$3,408$3,039$2,707$2,284
12 years$3,873$3,426$3,025$2,666$2,346$1,944
13 years$3,538$3,096$2,702$2,353$2,045$1,664
14 years$3,252$2,814$2,428$2,089$1,793$1,431
15 years$3,004$2,571$2,192$1,863$1,579$1,236
16 years$2,787$2,359$1,988$1,668$1,395$1,071
17 years$2,596$2,172$1,809$1,499$1,237$931
18 years$2,426$2,007$1,651$1,351$1,100$811
19 years$2,274$1,860$1,511$1,221$980$708
20 years$2,138$1,729$1,387$1,105$876$619
21 years$2,015$1,610$1,276$1,003$784$543
22 years$1,903$1,503$1,176$912$702$476
23 years$1,801$1,406$1,086$831$631$418
24 years$1,707$1,317$1,004$758$567$368
25 years$1,622$1,236$930$692$510$323
26 years$1,543$1,162$863$633$459$285
27 years$1,470$1,093$801$579$414$251
28 years$1,402$1,030$745$531$374$221
29 years$1,339$972$693$487$337$195
30 years$1,280$918$645$447$305$172
31 years$1,226$868$602$410$276$152
32 years$1,174$821$561$377$249$134
33 years$1,126$778$524$347$226$119
34 years$1,081$737$490$319$204$105
35 years$1,039$699$458$294$185$93
36 years$999$663$428$270$168$82
37 years$961$630$401$249$152$73
38 years$926$599$375$230$138$64
39 years$892$569$352$212$125$57
40 years$860$542$330$195$113$50
41 years$830$516$309$180$103$44
42 years$801$491$290$166$93$39
43 years$773$468$272$153$85$35
44 years$747$446$255$142$77$31
45 years$722$425$240$131$70$27
46 years$699$406$225$121$63$24
47 years$676$387$212$112$58$21
48 years$655$370$199$103$52$19
49 years$634$353$187$95$47$17
50 years$614$337$176$88$43$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $629,000, adding $4,249 every year, while hoping to spend $51,298 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: 58/29/13 Blend
59$629,000$629,000$629,000$629,000
60$697,541$664,204$654,454$735,486
61$714,109$642,169$621,798$739,568
62$730,649$617,335$586,328$737,953
63$747,101$589,512$547,897$734,979
64$763,403$558,495$506,349$730,523
65$779,480$524,071$461,522$724,451
66$795,251$486,015$413,246$716,619
67$810,623$444,086$361,347$706,872
68$825,492$398,031$305,637$695,041
69$839,741$347,584$245,925$680,946
70$853,241$292,462$182,009$664,389
71$865,844$232,365$113,679$645,159
72$877,389$166,979$40,716$623,026
73$887,693$95,971$0$597,742
74$896,553$18,990$0$574,192
75$903,744$0$0$553,293
76$909,014$0$0$549,644
77$912,084$0$0$550,619
78$912,644$0$0$549,957
79$910,347$0$0$547,438
80$904,812$0$0$542,816
81$895,613$0$0$535,818
82$882,278$0$0$526,142
83$864,286$0$0$513,452
84$841,057$0$0$497,377
85$811,950$0$0$477,507
86$776,255$0$0$453,386
87$733,186$0$0$424,511
88$681,873$0$0$390,324
89$621,353$0$0$350,210
90$550,564$0$0$303,486
91$468,328$0$0$249,399
92$373,345$0$0$187,116
93$264,176$0$0$115,717
94$139,234$0$0$34,186
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0