Can I retire at age 60 with 640,000?

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 $640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$52,851$52,380$51,921$51,472$51,034$50,355
2 years$26,164$25,676$25,204$24,746$24,302$23,619
3 years$17,269$16,780$16,309$15,855$15,418$14,752
4 years$12,823$12,335$11,869$11,423$10,996$10,353
5 years$10,156$9,671$9,211$8,774$8,359$7,740
6 years$8,378$7,897$7,443$7,016$6,614$6,020
7 years$7,109$6,632$6,186$5,769$5,379$4,810
8 years$6,158$5,685$5,246$4,839$4,463$3,918
9 years$5,418$4,950$4,518$4,122$3,758$3,239
10 years$4,827$4,363$3,939$3,553$3,202$2,707
11 years$4,343$3,884$3,468$3,092$2,754$2,283
12 years$3,941$3,486$3,078$2,712$2,387$1,939
13 years$3,600$3,150$2,750$2,395$2,081$1,657
14 years$3,309$2,864$2,471$2,126$1,824$1,422
15 years$3,056$2,616$2,231$1,896$1,606$1,226
16 years$2,835$2,400$2,022$1,697$1,420$1,060
17 years$2,641$2,210$1,840$1,525$1,259$919
18 years$2,468$2,042$1,680$1,374$1,119$799
19 years$2,314$1,893$1,538$1,242$998$696
20 years$2,175$1,759$1,411$1,125$891$608
21 years$2,050$1,638$1,298$1,021$797$531
22 years$1,936$1,529$1,197$928$715$465
23 years$1,832$1,430$1,105$845$642$407
24 years$1,737$1,340$1,022$771$577$357
25 years$1,650$1,258$946$704$519$314
26 years$1,570$1,182$878$644$467$276
27 years$1,495$1,112$815$589$421$242
28 years$1,426$1,048$758$540$380$213
29 years$1,362$989$705$495$343$188
30 years$1,303$934$657$454$310$165
31 years$1,247$883$612$417$280$145
32 years$1,195$835$571$384$254$128
33 years$1,146$791$533$353$230$113
34 years$1,100$750$498$324$208$100
35 years$1,057$711$466$299$188$88
36 years$1,016$675$436$275$171$77
37 years$978$641$408$253$155$68
38 years$942$609$382$234$140$60
39 years$908$579$358$215$127$53
40 years$875$551$335$199$115$47
41 years$844$525$315$183$105$41
42 years$815$500$295$169$95$37
43 years$787$476$277$156$86$32
44 years$760$454$260$144$78$29
45 years$735$433$244$133$71$25
46 years$711$413$229$123$64$22
47 years$688$394$215$114$59$20
48 years$666$376$202$105$53$17
49 years$645$359$190$97$48$15
50 years$625$343$179$90$44$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $640,000, adding $3,938 every year, while hoping to spend $34,536 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: 71/23/6 Blend
59$640,000$640,000$640,000$640,000
60$709,342$675,422$665,502$758,882
61$744,949$671,772$651,050$788,462
62$783,030$666,785$634,957$816,156
63$823,802$660,360$617,131$845,503
64$867,500$652,389$597,475$876,657
65$914,386$642,756$575,891$909,788
66$964,744$631,341$552,274$945,082
67$1,018,886$618,016$526,514$982,748
68$1,077,157$602,643$498,496$1,023,013
69$1,139,933$585,078$468,102$1,066,131
70$1,207,629$565,170$435,206$1,112,381
71$1,280,699$542,756$399,678$1,162,074
72$1,359,645$517,665$361,381$1,215,549
73$1,445,014$489,716$320,173$1,273,185
74$1,537,412$458,719$275,906$1,335,399
75$1,637,503$424,471$228,423$1,402,653
76$1,746,016$386,757$177,563$1,475,455
77$1,863,753$345,352$123,155$1,554,370
78$1,991,599$300,018$65,024$1,640,020
79$2,130,524$250,501$2,984$1,733,092
80$2,281,597$196,534$0$1,834,346
81$2,445,993$137,837$0$1,948,668
82$2,625,004$74,111$0$2,073,406
83$2,820,055$5,043$0$2,209,406
84$3,032,710$0$0$2,357,813
85$3,264,695$0$0$2,537,532
86$3,517,905$0$0$2,735,119
87$3,794,429$0$0$2,950,930
88$4,096,566$0$0$3,186,764
89$4,426,847$0$0$3,444,601
90$4,788,059$0$0$3,726,620
91$5,183,268$0$0$4,035,220
92$5,615,854$0$0$4,373,046
93$6,089,537$0$0$4,743,005
94$6,608,412$0$0$5,148,304
95$7,176,991$0$0$5,592,471
96$7,800,243$0$0$6,079,393
97$8,483,640$0$0$6,613,351
98$9,233,207$0$0$7,199,058
99$10,055,584$0$0$7,841,709
100$10,958,082$0$0$8,547,023