Can I retire at age 60 with 602,000?

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 $602,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$49,713$49,270$48,838$48,416$48,004$46,730
2 years$24,610$24,152$23,708$23,277$22,859$21,584
3 years$16,244$15,784$15,340$14,914$14,503$13,267
4 years$12,061$11,603$11,164$10,745$10,344$9,157
5 years$9,553$9,097$8,664$8,253$7,863$6,728
6 years$7,881$7,428$7,002$6,600$6,222$5,140
7 years$6,687$6,238$5,818$5,426$5,060$4,031
8 years$5,792$5,347$4,934$4,552$4,198$3,222
9 years$5,096$4,656$4,250$3,877$3,535$2,611
10 years$4,540$4,104$3,705$3,342$3,012$2,139
11 years$4,085$3,653$3,262$2,909$2,590$1,766
12 years$3,707$3,279$2,895$2,551$2,245$1,469
13 years$3,386$2,963$2,586$2,252$1,958$1,227
14 years$3,112$2,694$2,324$1,999$1,716$1,030
15 years$2,875$2,461$2,098$1,783$1,511$868
16 years$2,667$2,258$1,902$1,597$1,335$733
17 years$2,484$2,079$1,731$1,435$1,184$621
18 years$2,322$1,921$1,580$1,293$1,053$527
19 years$2,177$1,781$1,447$1,168$938$448
20 years$2,046$1,655$1,328$1,058$838$382
21 years$1,928$1,541$1,221$960$750$325
22 years$1,821$1,439$1,125$873$672$278
23 years$1,723$1,346$1,039$795$604$237
24 years$1,634$1,261$961$725$542$203
25 years$1,552$1,183$890$662$488$173
26 years$1,476$1,112$826$606$440$148
27 years$1,407$1,046$767$554$396$127
28 years$1,342$986$713$508$358$109
29 years$1,282$930$663$466$323$93
30 years$1,225$878$618$427$292$80
31 years$1,173$830$576$393$264$68
32 years$1,124$786$537$361$239$59
33 years$1,078$744$502$332$216$50
34 years$1,035$705$469$305$196$43
35 years$994$669$438$281$177$37
36 years$956$635$410$259$160$32
37 years$920$603$384$238$145$27
38 years$886$573$359$220$132$23
39 years$854$545$337$203$120$20
40 years$823$518$316$187$108$17
41 years$794$494$296$172$98$15
42 years$766$470$278$159$89$13
43 years$740$448$260$147$81$11
44 years$715$427$244$136$74$9
45 years$691$407$230$125$67$8
46 years$669$388$216$116$61$7
47 years$647$371$203$107$55$6
48 years$626$354$190$99$50$5
49 years$607$338$179$91$45$4
50 years$588$323$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 $602,000, adding $4,926 every year, while hoping to spend $50,916 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: 63/13/24 Blend
59$602,000$602,000$602,000$602,000
60$668,485$636,579$627,248$706,096
61$682,496$613,597$594,087$709,125
62$696,230$587,783$558,108$706,350
63$709,605$558,943$519,164$702,181
64$722,528$526,875$477,099$696,489
65$734,896$491,362$431,752$689,133
66$746,594$452,178$382,954$679,959
67$757,493$409,080$330,529$668,801
68$767,447$361,815$274,292$655,479
69$776,297$310,114$214,051$639,798
70$783,862$253,693$149,605$621,543
71$789,943$192,251$80,744$600,483
72$794,318$125,472$7,249$576,366
73$796,738$53,019$0$548,919
74$796,929$0$0$536,072
75$794,586$0$0$526,080
76$789,369$0$0$521,653
77$780,904$0$0$514,945
78$768,771$0$0$505,665
79$752,510$0$0$493,491
80$731,608$0$0$478,068
81$705,498$0$0$459,000
82$673,551$0$0$435,851
83$635,073$0$0$408,136
84$589,293$0$0$375,321
85$535,362$0$0$336,814
86$472,337$0$0$291,960
87$399,179$0$0$240,036
88$314,736$0$0$180,243
89$217,738$0$0$111,695
90$106,779$0$0$33,417
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
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