Can I retire at age 60 with 653,000?

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 $653,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$53,924$53,444$52,975$52,518$52,071$50,064
2 years$26,695$26,198$25,716$25,249$24,796$22,798
3 years$17,620$17,121$16,640$16,177$15,731$13,805
4 years$13,083$12,585$12,110$11,655$11,220$9,380
5 years$10,362$9,867$9,398$8,952$8,529$6,781
6 years$8,548$8,057$7,595$7,159$6,749$5,093
7 years$7,253$6,766$6,311$5,886$5,489$3,924
8 years$6,283$5,800$5,352$4,937$4,553$3,079
9 years$5,528$5,050$4,610$4,206$3,835$2,449
10 years$4,925$4,451$4,019$3,625$3,267$1,967
11 years$4,431$3,963$3,538$3,155$2,810$1,592
12 years$4,021$3,557$3,140$2,767$2,435$1,297
13 years$3,673$3,214$2,806$2,443$2,123$1,061
14 years$3,376$2,922$2,521$2,169$1,861$872
15 years$3,118$2,669$2,276$1,934$1,639$719
16 years$2,893$2,449$2,063$1,732$1,448$594
17 years$2,695$2,255$1,878$1,556$1,284$492
18 years$2,518$2,084$1,714$1,402$1,142$408
19 years$2,361$1,931$1,569$1,267$1,018$339
20 years$2,219$1,795$1,440$1,148$909$281
21 years$2,091$1,672$1,325$1,042$814$234
22 years$1,975$1,560$1,221$947$729$195
23 years$1,869$1,459$1,127$862$655$163
24 years$1,773$1,367$1,042$787$588$136
25 years$1,684$1,283$966$718$529$113
26 years$1,602$1,206$896$657$477$94
27 years$1,526$1,135$832$601$430$79
28 years$1,455$1,070$773$551$388$66
29 years$1,390$1,009$719$505$350$55
30 years$1,329$953$670$464$317$46
31 years$1,272$901$625$426$286$38
32 years$1,219$852$583$391$259$32
33 years$1,169$807$544$360$234$27
34 years$1,123$765$508$331$212$22
35 years$1,079$726$475$305$192$19
36 years$1,037$689$445$281$174$16
37 years$998$654$416$259$158$13
38 years$961$622$390$238$143$11
39 years$926$591$365$220$130$9
40 years$893$562$342$203$118$8
41 years$861$535$321$187$107$6
42 years$831$510$301$173$97$5
43 years$803$486$283$159$88$4
44 years$776$463$265$147$80$4
45 years$750$442$249$136$72$3
46 years$725$421$234$126$66$3
47 years$702$402$220$116$60$2
48 years$680$384$206$107$54$2
49 years$658$366$194$99$49$2
50 years$638$350$182$92$45$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $653,000, adding $2,058 every year, while hoping to spend $48,652 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: 36/35/29 Blend
59$653,000$653,000$653,000$653,000
60$721,729$687,120$676,998$741,372
61$743,580$669,023$647,912$738,105
62$766,029$648,410$616,222$730,049
63$789,086$625,104$581,787$720,425
64$812,760$598,921$544,464$709,128
65$837,059$569,665$504,101$696,044
66$861,990$537,131$460,540$681,051
67$887,561$501,097$413,615$664,023
68$913,775$461,334$363,155$644,824
69$940,638$417,597$308,978$623,314
70$968,150$369,627$250,896$599,342
71$996,314$317,151$188,713$572,748
72$1,025,126$259,879$122,223$543,365
73$1,054,584$197,508$51,213$511,014
74$1,084,680$129,715$0$475,509
75$1,115,406$56,160$0$444,254
76$1,146,749$0$0$426,840
77$1,178,692$0$0$416,317
78$1,211,216$0$0$427,604
79$1,244,294$0$0$439,060
80$1,277,896$0$0$450,671
81$1,311,986$0$0$462,422
82$1,346,522$0$0$474,294
83$1,381,452$0$0$486,265
84$1,416,720$0$0$498,310
85$1,452,257$0$0$510,401
86$1,487,986$0$0$522,505
87$1,523,819$0$0$534,584
88$1,559,655$0$0$546,598
89$1,595,379$0$0$558,497
90$1,630,860$0$0$570,230
91$1,665,953$0$0$581,733
92$1,700,491$0$0$592,941
93$1,734,286$0$0$603,775
94$1,767,130$0$0$614,151
95$1,798,786$0$0$623,972
96$1,828,991$0$0$633,131
97$1,857,448$0$0$641,508
98$1,883,827$0$0$648,969
99$1,907,761$0$0$655,365
100$1,928,836$0$0$660,529