Can I retire at age 60 with 629,000?

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 $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%11.4%
1 years$51,942$51,480$51,028$50,588$50,157$49,862
2 years$25,714$25,235$24,771$24,321$23,884$23,587
3 years$16,972$16,491$16,028$15,583$15,153$14,862
4 years$12,602$12,123$11,665$11,226$10,807$10,525
5 years$9,981$9,505$9,052$8,623$8,216$7,943
6 years$8,234$7,761$7,316$6,896$6,501$6,238
7 years$6,987$6,518$6,079$5,669$5,287$5,034
8 years$6,052$5,587$5,156$4,756$4,386$4,144
9 years$5,325$4,864$4,441$4,051$3,694$3,461
10 years$4,744$4,288$3,871$3,492$3,147$2,925
11 years$4,269$3,817$3,408$3,039$2,707$2,494
12 years$3,873$3,426$3,025$2,666$2,346$2,143
13 years$3,538$3,096$2,702$2,353$2,045$1,852
14 years$3,252$2,814$2,428$2,089$1,793$1,609
15 years$3,004$2,571$2,192$1,863$1,579$1,404
16 years$2,787$2,359$1,988$1,668$1,395$1,229
17 years$2,596$2,172$1,809$1,499$1,237$1,079
18 years$2,426$2,007$1,651$1,351$1,100$950
19 years$2,274$1,860$1,511$1,221$980$839
20 years$2,138$1,729$1,387$1,105$876$742
21 years$2,015$1,610$1,276$1,003$784$657
22 years$1,903$1,503$1,176$912$702$583
23 years$1,801$1,406$1,086$831$631$518
24 years$1,707$1,317$1,004$758$567$461
25 years$1,622$1,236$930$692$510$410
26 years$1,543$1,162$863$633$459$365
27 years$1,470$1,093$801$579$414$326
28 years$1,402$1,030$745$531$374$291
29 years$1,339$972$693$487$337$260
30 years$1,280$918$645$447$305$232
31 years$1,226$868$602$410$276$207
32 years$1,174$821$561$377$249$185
33 years$1,126$778$524$347$226$166
34 years$1,081$737$490$319$204$149
35 years$1,039$699$458$294$185$133
36 years$999$663$428$270$168$119
37 years$961$630$401$249$152$107
38 years$926$599$375$230$138$96
39 years$892$569$352$212$125$86
40 years$860$542$330$195$113$77
41 years$830$516$309$180$103$69
42 years$801$491$290$166$93$62
43 years$773$468$272$153$85$55
44 years$747$446$255$142$77$50
45 years$722$425$240$131$70$44
46 years$699$406$225$121$63$40
47 years$676$387$212$112$58$36
48 years$655$370$199$103$52$32
49 years$634$353$187$95$47$29
50 years$614$337$176$88$43$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $629,000, adding $3,830 every year, while hoping to spend $35,893 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: 62/13/25 Blend
59$629,000$629,000$629,000$629,000
60$697,109$663,772$654,022$735,486
61$730,024$658,107$637,742$756,282
62$765,093$650,961$619,714$774,705
63$802,499$642,224$599,840$794,032
64$842,440$631,780$578,021$814,360
65$885,135$619,503$554,151$835,792
66$930,823$605,263$528,119$858,446
67$979,767$588,920$499,810$882,453
68$1,032,253$570,327$469,104$907,958
69$1,088,599$549,329$435,875$935,122
70$1,149,150$525,760$399,991$964,128
71$1,214,287$499,446$361,314$995,175
72$1,284,427$470,202$319,702$1,028,486
73$1,360,030$437,833$275,003$1,064,309
74$1,441,599$402,133$227,061$1,102,921
75$1,529,688$362,883$175,713$1,144,627
76$1,624,904$319,852$120,788$1,189,769
77$1,727,917$272,798$62,107$1,238,722
78$1,839,461$221,462$0$1,291,907
79$1,960,345$165,572$0$1,349,926
80$2,091,457$104,842$0$1,430,846
81$2,233,773$38,967$0$1,518,707
82$2,388,369$0$0$1,614,201
83$2,556,426$0$0$1,722,719
84$2,739,245$0$0$1,846,875
85$2,938,257$0$0$1,982,070
86$3,155,035$0$0$2,129,379
87$3,391,313$0$0$2,289,986
88$3,648,997$0$0$2,465,193
89$3,930,185$0$0$2,656,431
90$4,237,187$0$0$2,865,280
91$4,572,547$0$0$3,093,474
92$4,939,063$0$0$3,342,926
93$5,339,818$0$0$3,615,741
94$5,778,204$0$0$3,914,236
95$6,257,957$0$0$4,240,963
96$6,783,193$0$0$4,598,731
97$7,358,440$0$0$4,990,635
98$7,988,689$0$0$5,420,082
99$8,679,433$0$0$5,890,825
100$9,436,724$0$0$6,406,999