Can I retire at age 60 with 601,000?

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 $601,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$49,630$49,188$48,757$48,336$47,925$46,690
2 years$24,569$24,112$23,668$23,238$22,821$21,586
3 years$16,217$15,757$15,315$14,889$14,479$13,281
4 years$12,041$11,583$11,145$10,727$10,326$9,175
5 years$9,537$9,081$8,649$8,239$7,850$6,749
6 years$7,868$7,416$6,990$6,589$6,211$5,162
7 years$6,676$6,228$5,809$5,417$5,052$4,053
8 years$5,782$5,338$4,926$4,544$4,191$3,243
9 years$5,088$4,648$4,243$3,871$3,529$2,631
10 years$4,533$4,097$3,699$3,337$3,007$2,158
11 years$4,078$3,647$3,257$2,904$2,586$1,785
12 years$3,700$3,274$2,890$2,547$2,241$1,486
13 years$3,381$2,958$2,582$2,249$1,954$1,243
14 years$3,107$2,689$2,320$1,996$1,713$1,045
15 years$2,870$2,456$2,095$1,780$1,508$882
16 years$2,663$2,254$1,899$1,594$1,333$746
17 years$2,480$2,076$1,728$1,432$1,182$633
18 years$2,318$1,918$1,578$1,291$1,051$538
19 years$2,173$1,778$1,444$1,166$937$458
20 years$2,043$1,652$1,325$1,056$837$390
21 years$1,925$1,539$1,219$959$749$333
22 years$1,818$1,436$1,124$872$671$285
23 years$1,721$1,343$1,037$794$602$244
24 years$1,631$1,259$959$724$542$209
25 years$1,549$1,181$889$661$487$179
26 years$1,474$1,110$824$605$439$153
27 years$1,404$1,045$765$553$396$131
28 years$1,339$984$711$507$357$113
29 years$1,279$929$662$465$322$97
30 years$1,223$877$617$427$291$83
31 years$1,171$829$575$392$263$71
32 years$1,122$784$536$360$238$61
33 years$1,076$743$501$331$216$53
34 years$1,033$704$468$305$195$45
35 years$993$668$438$281$177$39
36 years$955$634$409$258$160$33
37 years$918$602$383$238$145$29
38 years$884$572$359$219$132$25
39 years$852$544$336$202$119$21
40 years$822$518$315$187$108$18
41 years$793$493$295$172$98$16
42 years$765$469$277$159$89$13
43 years$739$447$260$147$81$12
44 years$714$426$244$135$73$10
45 years$690$406$229$125$67$9
46 years$668$388$215$116$61$7
47 years$646$370$202$107$55$6
48 years$625$353$190$99$50$5
49 years$606$337$179$91$45$5
50 years$587$322$168$84$41$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $601,000, adding $4,412 every year, while hoping to spend $22,618 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: 68/8/24 Blend
59$601,000$601,000$601,000$601,000
60$666,853$635,000$625,684$707,827
61$710,807$642,050$622,580$742,912
62$758,485$648,687$618,613$778,276
63$810,246$654,867$613,731$816,434
64$866,479$660,543$607,879$857,663
65$927,616$665,666$600,999$902,268
66$994,130$670,182$593,030$950,584
67$1,066,544$674,033$583,909$1,002,981
68$1,145,431$677,160$573,570$1,059,867
69$1,231,423$679,499$561,942$1,121,695
70$1,325,214$680,981$548,953$1,188,960
71$1,427,570$681,533$534,527$1,262,211
72$1,539,333$681,078$518,584$1,342,053
73$1,661,429$679,535$501,041$1,429,152
74$1,794,879$676,817$481,810$1,524,246
75$1,940,806$672,830$460,800$1,628,144
76$2,100,448$667,478$437,917$1,741,744
77$2,275,166$660,657$413,059$1,866,030
78$2,466,460$652,257$386,124$2,002,094
79$2,675,982$642,160$357,002$2,151,135
80$2,905,551$630,244$325,580$2,314,478
81$3,157,168$616,378$291,739$2,493,584
82$3,433,041$600,423$255,354$2,690,063
83$3,735,600$582,231$216,296$2,905,692
84$4,067,519$561,649$174,430$3,142,429
85$4,431,748$538,511$129,615$3,402,435
86$4,831,531$512,644$81,703$3,688,092
87$5,270,447$483,863$30,539$4,002,026
88$5,752,434$451,974$0$4,347,133
89$6,281,833$416,771$0$4,732,768
90$6,863,424$378,036$0$5,165,037
91$7,502,473$335,540$0$5,640,039
92$8,204,784$289,040$0$6,162,099
93$8,976,747$238,278$0$6,735,987
94$9,825,406$182,985$0$7,366,957
95$10,758,518$122,872$0$8,060,798
96$11,784,632$57,637$0$8,823,889
97$12,913,165$0$0$9,663,261
98$14,154,493$0$0$10,587,808
99$15,520,048$0$0$11,610,502
100$17,022,426$0$0$12,735,707