Can I retire at age 60 with 662,000?

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 $662,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$54,667$54,180$53,705$53,242$52,789$52,043
2 years$27,063$26,559$26,071$25,597$25,138$24,387
3 years$17,863$17,357$16,869$16,400$15,948$15,217
4 years$13,264$12,759$12,277$11,815$11,374$10,668
5 years$10,505$10,003$9,527$9,075$8,647$7,967
6 years$8,666$8,168$7,699$7,258$6,842$6,190
7 years$7,353$6,860$6,398$5,967$5,564$4,941
8 years$6,369$5,880$5,426$5,005$4,616$4,020
9 years$5,604$5,120$4,674$4,264$3,887$3,319
10 years$4,993$4,513$4,075$3,675$3,312$2,771
11 years$4,492$4,017$3,587$3,199$2,849$2,334
12 years$4,076$3,606$3,183$2,806$2,469$1,980
13 years$3,724$3,259$2,844$2,477$2,153$1,689
14 years$3,422$2,962$2,556$2,199$1,887$1,448
15 years$3,161$2,706$2,307$1,961$1,661$1,246
16 years$2,933$2,483$2,092$1,756$1,468$1,076
17 years$2,732$2,286$1,904$1,578$1,302$932
18 years$2,553$2,113$1,738$1,422$1,158$809
19 years$2,393$1,958$1,591$1,285$1,032$704
20 years$2,250$1,819$1,460$1,163$922$614
21 years$2,120$1,695$1,343$1,056$825$535
22 years$2,003$1,582$1,238$960$739$468
23 years$1,895$1,480$1,143$874$664$409
24 years$1,797$1,386$1,057$797$597$359
25 years$1,707$1,301$979$728$537$314
26 years$1,624$1,223$908$666$483$276
27 years$1,547$1,151$843$610$436$242
28 years$1,475$1,084$784$558$393$212
29 years$1,409$1,023$729$512$355$187
30 years$1,348$966$679$470$321$164
31 years$1,290$913$633$432$290$144
32 years$1,236$864$591$397$262$127
33 years$1,186$818$552$365$238$112
34 years$1,138$776$515$336$215$98
35 years$1,093$736$482$309$195$87
36 years$1,051$698$451$285$176$76
37 years$1,012$663$422$262$160$67
38 years$974$630$395$242$145$59
39 years$939$599$370$223$131$52
40 years$905$570$347$206$119$46
41 years$873$543$325$190$108$40
42 years$843$517$305$175$98$36
43 years$814$492$286$162$89$31
44 years$787$469$269$149$81$28
45 years$760$448$252$138$73$24
46 years$735$427$237$127$67$22
47 years$712$408$223$118$61$19
48 years$689$389$209$109$55$17
49 years$667$372$197$100$50$15
50 years$646$355$185$93$45$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $662,000, adding $3,060 every year, while hoping to spend $54,002 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: 78/13/9 Blend
59$662,000$662,000$662,000$662,000
60$732,680$697,594$687,333$788,565
61$749,956$674,319$652,901$802,429
62$767,184$648,093$615,506$810,344
63$784,302$618,715$574,991$817,449
64$801,241$585,972$531,193$823,641
65$817,921$549,637$483,941$828,805
66$834,253$509,474$433,057$832,816
67$850,137$465,229$378,356$835,536
68$865,462$416,636$319,641$836,814
69$880,101$363,413$256,711$836,486
70$893,914$305,263$189,353$834,370
71$906,743$241,870$117,346$830,268
72$918,412$172,904$40,459$823,961
73$928,726$98,012$0$815,212
74$937,466$16,824$0$807,753
75$944,389$0$0$801,709
76$949,224$0$0$803,066
77$951,670$0$0$804,764
78$951,393$0$0$804,108
79$948,021$0$0$800,779
80$941,142$0$0$794,422
81$930,299$0$0$784,643
82$914,984$0$0$771,006
83$894,635$0$0$753,028
84$868,631$0$0$730,173
85$836,280$0$0$701,846
86$796,819$0$0$667,393
87$749,404$0$0$626,084
88$693,098$0$0$577,117
89$626,868$0$0$519,601
90$549,569$0$0$452,552
91$459,937$0$0$374,883
92$356,573$0$0$285,390
93$237,931$0$0$182,747
94$102,306$0$0$65,483
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0