Can I retire at age 60 with 653,000?

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 $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%12.1%
1 years$53,924$53,444$52,975$52,518$52,071$51,613
2 years$26,695$26,198$25,716$25,249$24,796$24,334
3 years$17,620$17,121$16,640$16,177$15,731$15,281
4 years$13,083$12,585$12,110$11,655$11,220$10,783
5 years$10,362$9,867$9,398$8,952$8,529$8,108
6 years$8,548$8,057$7,595$7,159$6,749$6,344
7 years$7,253$6,766$6,311$5,886$5,489$5,100
8 years$6,283$5,800$5,352$4,937$4,553$4,181
9 years$5,528$5,050$4,610$4,206$3,835$3,478
10 years$4,925$4,451$4,019$3,625$3,267$2,927
11 years$4,431$3,963$3,538$3,155$2,810$2,485
12 years$4,021$3,557$3,140$2,767$2,435$2,126
13 years$3,673$3,214$2,806$2,443$2,123$1,829
14 years$3,376$2,922$2,521$2,169$1,861$1,582
15 years$3,118$2,669$2,276$1,934$1,639$1,373
16 years$2,893$2,449$2,063$1,732$1,448$1,197
17 years$2,695$2,255$1,878$1,556$1,284$1,046
18 years$2,518$2,084$1,714$1,402$1,142$916
19 years$2,361$1,931$1,569$1,267$1,018$805
20 years$2,219$1,795$1,440$1,148$909$708
21 years$2,091$1,672$1,325$1,042$814$624
22 years$1,975$1,560$1,221$947$729$551
23 years$1,869$1,459$1,127$862$655$487
24 years$1,773$1,367$1,042$787$588$430
25 years$1,684$1,283$966$718$529$381
26 years$1,602$1,206$896$657$477$338
27 years$1,526$1,135$832$601$430$300
28 years$1,455$1,070$773$551$388$266
29 years$1,390$1,009$719$505$350$236
30 years$1,329$953$670$464$317$210
31 years$1,272$901$625$426$286$186
32 years$1,219$852$583$391$259$166
33 years$1,169$807$544$360$234$147
34 years$1,123$765$508$331$212$131
35 years$1,079$726$475$305$192$117
36 years$1,037$689$445$281$174$104
37 years$998$654$416$259$158$93
38 years$961$622$390$238$143$82
39 years$926$591$365$220$130$73
40 years$893$562$342$203$118$65
41 years$861$535$321$187$107$58
42 years$831$510$301$173$97$52
43 years$803$486$283$159$88$46
44 years$776$463$265$147$80$41
45 years$750$442$249$136$72$37
46 years$725$421$234$126$66$33
47 years$702$402$220$116$60$29
48 years$680$384$206$107$54$26
49 years$658$366$194$99$49$23
50 years$638$350$182$92$45$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $653,000, adding $4,722 every year, while hoping to spend $30,336 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: 54/41/5 Blend
59$653,000$653,000$653,000$653,000
60$724,477$689,868$679,746$762,578
61$766,096$691,394$670,240$790,365
62$810,944$691,978$659,400$816,822
63$859,317$691,542$647,147$844,868
64$911,543$690,003$633,401$874,658
65$967,980$687,273$618,080$906,362
66$1,029,023$683,258$601,094$940,171
67$1,095,104$677,859$582,352$976,296
68$1,166,702$670,971$561,758$1,014,969
69$1,244,338$662,482$539,210$1,056,450
70$1,328,591$652,274$514,604$1,101,025
71$1,420,094$640,221$487,829$1,149,013
72$1,519,543$626,192$458,771$1,200,764
73$1,627,706$610,045$427,309$1,256,669
74$1,745,426$591,631$393,319$1,317,160
75$1,873,633$570,794$356,668$1,382,714
76$2,013,347$547,366$317,219$1,453,861
77$2,165,692$521,172$274,831$1,531,187
78$2,331,907$492,023$229,352$1,615,340
79$2,513,353$459,724$180,627$1,707,038
80$2,711,530$424,065$128,493$1,807,075
81$2,928,089$384,827$72,779$1,916,330
82$3,164,845$341,775$13,309$2,035,775
83$3,423,800$294,663$0$2,166,485
84$3,707,158$243,231$0$2,312,325
85$4,017,343$187,204$0$2,472,865
86$4,357,026$126,292$0$2,648,860
87$4,729,150$60,187$0$2,841,928
88$5,136,953$0$0$3,053,857
89$5,584,003$0$0$3,291,782
90$6,074,229$0$0$3,582,525
91$6,611,959$0$0$3,901,505
92$7,201,959$0$0$4,251,559
93$7,849,480$0$0$4,635,809
94$8,560,305$0$0$5,057,696
95$9,340,805$0$0$5,521,010
96$10,197,998$0$0$6,029,927
97$11,139,614$0$0$6,589,044
98$12,174,169$0$0$7,203,430
99$13,311,046$0$0$7,878,666
100$14,560,580$0$0$8,620,901