Can I retire at age 60 with 661,000?

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 $661,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$54,585$54,099$53,624$53,161$52,709$51,687
2 years$27,022$26,519$26,031$25,558$25,100$24,074
3 years$17,836$17,330$16,844$16,375$15,924$14,927
4 years$13,244$12,740$12,258$11,798$11,357$10,396
5 years$10,489$9,988$9,513$9,062$8,634$7,712
6 years$8,653$8,156$7,688$7,247$6,831$5,949
7 years$7,342$6,849$6,389$5,958$5,556$4,714
8 years$6,360$5,871$5,418$4,998$4,609$3,807
9 years$5,596$5,112$4,666$4,257$3,882$3,119
10 years$4,985$4,506$4,068$3,670$3,307$2,583
11 years$4,486$4,011$3,582$3,194$2,844$2,158
12 years$4,070$3,600$3,179$2,801$2,465$1,815
13 years$3,718$3,254$2,840$2,473$2,149$1,536
14 years$3,417$2,958$2,552$2,195$1,884$1,305
15 years$3,156$2,702$2,304$1,958$1,659$1,113
16 years$2,928$2,479$2,089$1,753$1,466$953
17 years$2,728$2,283$1,901$1,575$1,300$818
18 years$2,549$2,109$1,735$1,420$1,156$703
19 years$2,390$1,955$1,588$1,283$1,030$606
20 years$2,247$1,817$1,458$1,162$920$523
21 years$2,117$1,692$1,341$1,054$824$452
22 years$2,000$1,580$1,236$959$738$391
23 years$1,892$1,477$1,141$873$663$339
24 years$1,794$1,384$1,055$796$596$294
25 years$1,704$1,299$977$727$536$255
26 years$1,621$1,221$906$665$483$221
27 years$1,544$1,149$842$609$435$192
28 years$1,473$1,083$783$558$393$167
29 years$1,407$1,021$728$511$355$145
30 years$1,346$965$678$469$320$126
31 years$1,288$912$632$431$290$110
32 years$1,234$863$590$396$262$96
33 years$1,184$817$551$364$237$83
34 years$1,136$774$515$335$215$72
35 years$1,092$735$481$309$194$63
36 years$1,050$697$450$284$176$55
37 years$1,010$662$421$262$160$48
38 years$973$629$395$241$145$42
39 years$937$598$370$222$131$36
40 years$904$569$346$205$119$32
41 years$872$542$325$189$108$28
42 years$842$516$305$175$98$24
43 years$813$492$286$161$89$21
44 years$785$469$268$149$81$18
45 years$759$447$252$138$73$16
46 years$734$426$237$127$67$14
47 years$711$407$222$117$60$12
48 years$688$388$209$108$55$11
49 years$666$371$196$100$50$9
50 years$645$354$185$93$45$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $661,000, adding $2,397 every year, while hoping to spend $24,305 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: 45/50/5 Blend
59$661,000$661,000$661,000$661,000
60$730,895$695,862$685,616$762,681
61$779,585$704,098$682,724$793,040
62$832,428$711,924$678,920$823,211
63$889,821$719,293$674,149$855,351
64$952,200$726,157$668,351$889,648
65$1,020,049$732,463$661,465$926,310
66$1,093,896$738,155$653,426$965,568
67$1,174,324$743,175$644,166$1,007,675
68$1,261,974$747,460$633,615$1,052,914
69$1,357,553$750,943$621,698$1,101,595
70$1,461,837$753,553$608,338$1,154,063
71$1,575,680$755,213$593,454$1,210,698
72$1,700,025$755,844$576,961$1,271,919
73$1,835,908$755,360$558,769$1,338,192
74$1,984,468$753,671$538,785$1,410,029
75$2,146,963$750,680$516,913$1,487,999
76$2,324,774$746,284$493,051$1,572,728
77$2,519,426$740,376$467,093$1,664,909
78$2,732,593$732,841$438,926$1,765,307
79$2,966,124$723,556$408,437$1,874,769
80$3,222,051$712,393$375,502$1,994,229
81$3,502,614$699,214$339,995$2,124,719
82$3,810,280$683,875$301,784$2,267,380
83$4,147,765$666,222$260,731$2,423,471
84$4,518,063$646,092$216,690$2,594,384
85$4,924,468$623,313$169,512$2,781,654
86$5,370,612$597,704$119,039$2,986,980
87$5,860,493$569,070$65,106$3,212,235
88$6,398,518$537,210$7,542$3,459,487
89$6,989,540$501,906$0$3,731,022
90$7,638,904$462,930$0$4,032,237
91$8,352,502$420,043$0$4,363,656
92$9,136,821$372,989$0$4,727,962
93$9,999,009$321,498$0$5,128,558
94$10,946,944$265,287$0$5,569,201
95$11,989,301$204,055$0$6,054,035
96$13,135,639$137,484$0$6,587,636
97$14,396,493$65,239$0$7,175,050
98$15,783,466$0$0$7,821,846
99$17,309,343$0$0$8,541,341
100$18,988,213$0$0$9,372,558