Can I retire at age 60 with 655,000?

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 $655,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$54,089$53,607$53,137$52,679$52,231$50,357
2 years$26,777$26,278$25,795$25,326$24,872$23,005
3 years$17,674$17,173$16,691$16,227$15,780$13,978
4 years$13,123$12,624$12,147$11,690$11,254$9,531
5 years$10,394$9,897$9,426$8,979$8,555$6,915
6 years$8,575$8,082$7,618$7,181$6,769$5,214
7 years$7,276$6,787$6,331$5,904$5,505$4,034
8 years$6,302$5,818$5,369$4,953$4,567$3,178
9 years$5,545$5,066$4,624$4,218$3,846$2,538
10 years$4,940$4,465$4,031$3,636$3,277$2,048
11 years$4,445$3,975$3,549$3,165$2,819$1,666
12 years$4,033$3,568$3,150$2,776$2,442$1,363
13 years$3,684$3,224$2,814$2,451$2,130$1,121
14 years$3,386$2,931$2,529$2,175$1,867$925
15 years$3,128$2,677$2,283$1,940$1,644$766
16 years$2,902$2,456$2,070$1,737$1,453$636
17 years$2,703$2,262$1,883$1,561$1,288$530
18 years$2,526$2,090$1,719$1,407$1,145$442
19 years$2,368$1,937$1,574$1,271$1,021$369
20 years$2,226$1,800$1,445$1,151$912$308
21 years$2,098$1,677$1,329$1,045$816$258
22 years$1,981$1,565$1,225$950$731$216
23 years$1,875$1,464$1,131$865$657$181
24 years$1,778$1,372$1,046$789$590$152
25 years$1,689$1,287$969$721$531$127
26 years$1,606$1,210$898$659$478$107
27 years$1,530$1,139$834$603$431$90
28 years$1,460$1,073$775$553$389$75
29 years$1,394$1,012$722$507$351$63
30 years$1,333$956$672$465$318$53
31 years$1,276$904$627$427$287$45
32 years$1,223$855$585$392$260$38
33 years$1,173$810$546$361$235$32
34 years$1,126$767$510$332$213$27
35 years$1,082$728$477$306$193$22
36 years$1,040$691$446$282$175$19
37 years$1,001$656$418$259$158$16
38 years$964$624$391$239$143$13
39 years$929$593$366$220$130$11
40 years$895$564$343$203$118$9
41 years$864$537$322$188$107$8
42 years$834$511$302$173$97$7
43 years$805$487$283$160$88$6
44 years$778$464$266$148$80$5
45 years$752$443$250$136$73$4
46 years$728$423$235$126$66$3
47 years$704$403$220$116$60$3
48 years$682$385$207$107$54$2
49 years$660$368$195$99$49$2
50 years$640$351$183$92$45$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $655,000, adding $2,691 every year, while hoping to spend $22,786 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: 73/21/6 Blend
59$655,000$655,000$655,000$655,000
60$724,586$689,871$679,718$776,780
61$774,249$699,430$678,245$821,092
62$828,215$708,695$675,958$866,470
63$886,897$717,625$672,807$915,518
64$950,753$726,181$668,738$968,590
65$1,020,283$734,317$663,694$1,026,077
66$1,096,041$741,988$657,617$1,088,409
67$1,178,635$749,143$650,445$1,156,061
68$1,268,733$755,728$642,112$1,229,555
69$1,367,073$761,687$632,552$1,309,468
70$1,474,464$766,960$621,692$1,396,433
71$1,591,800$771,481$609,459$1,491,149
72$1,720,062$775,183$595,775$1,594,389
73$1,860,333$777,991$580,558$1,706,999
74$2,013,804$779,830$563,724$1,829,918
75$2,181,785$780,615$545,182$1,964,175
76$2,365,722$780,260$524,840$2,110,907
77$2,567,205$778,672$502,601$2,271,369
78$2,787,984$775,751$478,363$2,446,939
79$3,029,989$771,394$452,019$2,639,141
80$3,295,344$765,488$423,457$2,849,652
81$3,586,388$757,916$392,562$3,080,321
82$3,905,699$748,553$359,212$3,333,187
83$4,256,115$737,266$323,280$3,610,495
84$4,640,762$723,916$284,634$3,914,722
85$5,063,085$708,353$243,134$4,248,597
86$5,526,877$690,420$198,636$4,615,129
87$6,036,318$669,949$150,990$5,017,633
88$6,596,011$646,765$100,037$5,459,766
89$7,211,028$620,681$45,612$5,945,555
90$7,886,957$591,499$0$6,479,441
91$8,629,954$559,010$0$7,067,119
92$9,446,800$522,992$0$7,716,352
93$10,344,967$483,212$0$8,430,178
94$11,332,687$439,422$0$9,215,163
95$12,419,029$391,362$0$10,078,547
96$13,613,985$338,754$0$11,028,308
97$14,928,566$281,308$0$12,073,236
98$16,374,902$218,714$0$13,223,025
99$17,966,358$150,647$0$14,488,353
100$19,717,661$76,763$0$15,880,991