Can I retire at age 60 with 649,000?

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 $649,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$53,594$53,116$52,651$52,196$51,752$51,190
2 years$26,532$26,037$25,559$25,094$24,644$24,078
3 years$17,512$17,016$16,538$16,078$15,635$15,083
4 years$13,003$12,508$12,035$11,583$11,151$10,617
5 years$10,299$9,807$9,340$8,897$8,477$7,962
6 years$8,496$8,008$7,548$7,115$6,707$6,213
7 years$7,209$6,725$6,273$5,850$5,455$4,981
8 years$6,244$5,765$5,320$4,907$4,525$4,072
9 years$5,494$5,019$4,582$4,180$3,811$3,378
10 years$4,895$4,424$3,994$3,603$3,247$2,834
11 years$4,404$3,939$3,517$3,136$2,793$2,399
12 years$3,996$3,535$3,121$2,750$2,420$2,045
13 years$3,651$3,195$2,788$2,428$2,110$1,754
14 years$3,355$2,904$2,505$2,156$1,850$1,512
15 years$3,099$2,653$2,262$1,922$1,629$1,308
16 years$2,875$2,434$2,051$1,721$1,440$1,136
17 years$2,678$2,241$1,866$1,547$1,276$989
18 years$2,503$2,071$1,704$1,394$1,135$864
19 years$2,346$1,920$1,560$1,259$1,012$756
20 years$2,206$1,784$1,431$1,141$904$663
21 years$2,079$1,661$1,317$1,035$809$582
22 years$1,963$1,551$1,213$941$725$512
23 years$1,858$1,451$1,120$857$651$450
24 years$1,762$1,359$1,036$782$585$397
25 years$1,673$1,275$960$714$526$350
26 years$1,592$1,199$890$653$474$309
27 years$1,516$1,128$826$598$427$273
28 years$1,446$1,063$768$547$386$241
29 years$1,382$1,003$715$502$348$213
30 years$1,321$947$666$461$315$189
31 years$1,265$895$621$423$284$167
32 years$1,212$847$579$389$257$148
33 years$1,162$802$541$358$233$131
34 years$1,116$760$505$329$211$116
35 years$1,072$721$472$303$191$103
36 years$1,031$685$442$279$173$91
37 years$992$650$414$257$157$81
38 years$955$618$387$237$142$72
39 years$920$588$363$218$129$64
40 years$887$559$340$201$117$56
41 years$856$532$319$186$106$50
42 years$826$507$299$172$96$44
43 years$798$483$281$158$87$39
44 years$771$460$264$146$79$35
45 years$745$439$247$135$72$31
46 years$721$419$232$125$65$28
47 years$698$400$218$115$59$24
48 years$675$381$205$106$54$22
49 years$654$364$193$98$49$19
50 years$634$348$181$91$44$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $649,000, adding $5,558 every year, while hoping to spend $43,900 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: 80/6/14 Blend
59$649,000$649,000$649,000$649,000
60$720,931$686,534$676,475$776,151
61$747,757$673,465$652,427$800,178
62$775,847$658,284$626,103$820,309
63$805,286$640,842$597,379$841,144
64$836,161$620,979$566,127$862,731
65$868,571$598,529$532,214$885,128
66$902,621$573,312$495,499$908,395
67$938,425$545,142$455,836$932,602
68$976,110$513,819$413,072$957,824
69$1,015,811$479,134$367,047$984,145
70$1,057,675$440,863$317,594$1,011,657
71$1,101,864$398,772$264,540$1,040,462
72$1,148,554$352,612$207,703$1,070,674
73$1,197,938$302,120$146,891$1,102,418
74$1,250,223$247,020$81,908$1,135,833
75$1,305,640$187,018$12,546$1,171,072
76$1,364,438$121,804$0$1,208,306
77$1,426,890$51,052$0$1,256,904
78$1,493,295$0$0$1,310,490
79$1,563,982$0$0$1,369,141
80$1,639,307$0$0$1,435,243
81$1,719,662$0$0$1,505,771
82$1,805,478$0$0$1,581,102
83$1,897,226$0$0$1,661,653
84$1,995,420$0$0$1,747,876
85$2,100,628$0$0$1,840,272
86$2,213,470$0$0$1,939,386
87$2,334,626$0$0$2,045,820
88$2,464,846$0$0$2,160,231
89$2,604,948$0$0$2,283,343
90$2,755,835$0$0$2,415,949
91$2,918,495$0$0$2,558,922
92$3,094,016$0$0$2,713,220
93$3,283,591$0$0$2,879,894
94$3,488,534$0$0$3,060,102
95$3,710,287$0$0$3,255,114
96$3,950,435$0$0$3,466,329
97$4,210,722$0$0$3,695,281
98$4,493,064$0$0$3,943,662
99$4,799,569$0$0$4,213,329
100$5,132,557$0$0$4,506,325