Can I retire at age 60 with 659,000?

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 $659,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$54,420$53,935$53,462$53,000$52,550$51,936
2 years$26,940$26,439$25,952$25,481$25,024$24,406
3 years$17,782$17,278$16,793$16,326$15,876$15,274
4 years$13,203$12,701$12,221$11,762$11,323$10,740
5 years$10,457$9,958$9,484$9,034$8,607$8,046
6 years$8,627$8,131$7,664$7,225$6,811$6,272
7 years$7,320$6,829$6,369$5,940$5,539$5,022
8 years$6,340$5,853$5,402$4,983$4,595$4,101
9 years$5,579$5,096$4,652$4,244$3,870$3,398
10 years$4,970$4,492$4,056$3,659$3,297$2,847
11 years$4,472$3,999$3,571$3,184$2,836$2,407
12 years$4,058$3,589$3,169$2,793$2,457$2,050
13 years$3,707$3,244$2,831$2,466$2,143$1,756
14 years$3,407$2,949$2,544$2,189$1,878$1,511
15 years$3,147$2,694$2,297$1,952$1,654$1,306
16 years$2,920$2,471$2,082$1,748$1,462$1,133
17 years$2,719$2,276$1,895$1,570$1,296$985
18 years$2,542$2,103$1,730$1,415$1,152$859
19 years$2,383$1,949$1,584$1,279$1,027$750
20 years$2,240$1,811$1,453$1,158$917$657
21 years$2,111$1,687$1,337$1,051$821$576
22 years$1,993$1,575$1,232$956$736$505
23 years$1,887$1,473$1,138$870$661$444
24 years$1,789$1,380$1,052$794$594$391
25 years$1,699$1,295$974$725$534$344
26 years$1,616$1,217$904$663$481$303
27 years$1,540$1,145$839$607$434$268
28 years$1,469$1,079$780$556$392$236
29 years$1,403$1,018$726$510$354$209
30 years$1,341$962$676$468$319$184
31 years$1,284$909$630$430$289$163
32 years$1,230$860$588$395$261$144
33 years$1,180$815$549$363$236$127
34 years$1,133$772$513$334$214$113
35 years$1,089$732$480$308$194$100
36 years$1,047$695$449$283$176$88
37 years$1,007$660$420$261$159$78
38 years$970$627$393$241$144$69
39 years$934$597$369$222$131$61
40 years$901$568$345$205$119$54
41 years$869$540$324$189$108$48
42 years$839$515$304$174$98$43
43 years$810$490$285$161$89$38
44 years$783$467$268$148$81$33
45 years$757$446$251$137$73$30
46 years$732$425$236$127$66$26
47 years$708$406$222$117$60$23
48 years$686$387$208$108$55$21
49 years$664$370$196$100$50$18
50 years$643$353$184$92$45$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $659,000, adding $5,771 every year, while hoping to spend $40,814 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: 72/9/19 Blend
59$659,000$659,000$659,000$659,000
60$732,171$697,244$687,029$781,168
61$763,426$687,983$666,619$805,243
62$796,502$676,900$644,157$826,145
63$831,541$663,864$619,532$847,999
64$868,698$648,733$592,626$870,891
65$908,144$631,360$563,317$894,920
66$950,064$611,586$531,478$920,193
67$994,663$589,246$496,976$946,830
68$1,042,164$564,164$459,669$974,964
69$1,092,810$536,154$419,413$1,004,742
70$1,146,869$505,018$376,056$1,036,329
71$1,204,633$470,547$329,438$1,069,906
72$1,266,424$432,523$279,392$1,105,673
73$1,332,594$390,711$225,747$1,143,855
74$1,403,529$344,866$168,319$1,184,700
75$1,479,651$294,727$106,920$1,228,481
76$1,561,427$240,019$41,353$1,275,502
77$1,649,365$180,453$0$1,326,102
78$1,744,026$115,721$0$1,386,454
79$1,846,025$45,500$0$1,460,495
80$1,956,038$0$0$1,540,335
81$2,074,805$0$0$1,629,554
82$2,203,144$0$0$1,730,858
83$2,341,949$0$0$1,840,449
84$2,492,206$0$0$1,959,110
85$2,654,998$0$0$2,087,699
86$2,831,515$0$0$2,227,160
87$3,023,067$0$0$2,378,531
88$3,231,093$0$0$2,542,955
89$3,457,177$0$0$2,721,686
90$3,703,062$0$0$2,916,108
91$3,970,665$0$0$3,127,740
92$4,262,095$0$0$3,358,256
93$4,579,673$0$0$3,609,496
94$4,925,954$0$0$3,883,487
95$5,303,748$0$0$4,182,458
96$5,716,151$0$0$4,508,864
97$6,166,569$0$0$4,865,407
98$6,658,752$0$0$5,255,061
99$7,196,828$0$0$5,681,102
100$7,785,343$0$0$6,147,135