Can I retire at age 60 with 603,000?

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 $603,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$49,795$49,352$48,919$48,497$48,084$47,424
2 years$24,651$24,192$23,747$23,316$22,897$22,234
3 years$16,271$15,810$15,366$14,939$14,527$13,880
4 years$12,081$11,622$11,182$10,762$10,361$9,736
5 years$9,569$9,112$8,678$8,267$7,876$7,275
6 years$7,894$7,440$7,013$6,611$6,232$5,655
7 years$6,698$6,248$5,828$5,435$5,068$4,516
8 years$5,802$5,356$4,943$4,559$4,205$3,677
9 years$5,105$4,663$4,257$3,884$3,541$3,037
10 years$4,548$4,111$3,711$3,348$3,017$2,537
11 years$4,092$3,659$3,267$2,913$2,595$2,139
12 years$3,713$3,284$2,900$2,556$2,249$1,815
13 years$3,392$2,968$2,591$2,256$1,961$1,550
14 years$3,117$2,698$2,328$2,003$1,719$1,330
15 years$2,879$2,465$2,102$1,786$1,513$1,145
16 years$2,672$2,261$1,905$1,599$1,338$990
17 years$2,488$2,083$1,734$1,437$1,186$858
18 years$2,326$1,924$1,583$1,295$1,054$745
19 years$2,180$1,783$1,449$1,170$940$649
20 years$2,049$1,657$1,330$1,060$840$566
21 years$1,931$1,544$1,223$962$751$494
22 years$1,824$1,441$1,127$874$673$432
23 years$1,726$1,348$1,041$796$605$378
24 years$1,637$1,263$963$726$543$332
25 years$1,555$1,185$892$663$489$291
26 years$1,479$1,114$827$607$440$255
27 years$1,409$1,048$768$555$397$224
28 years$1,344$988$714$509$358$197
29 years$1,284$932$664$466$324$173
30 years$1,227$880$619$428$292$153
31 years$1,175$832$577$393$264$134
32 years$1,126$787$538$361$239$118
33 years$1,080$745$503$332$216$104
34 years$1,037$706$470$306$196$92
35 years$996$670$439$281$177$81
36 years$958$636$411$259$161$71
37 years$922$604$384$239$146$63
38 years$887$574$360$220$132$55
39 years$855$546$337$203$120$49
40 years$824$519$316$187$109$43
41 years$795$494$296$173$99$38
42 years$768$471$278$159$89$33
43 years$741$449$261$147$81$30
44 years$716$428$245$136$74$26
45 years$693$408$230$125$67$23
46 years$670$389$216$116$61$20
47 years$648$371$203$107$55$18
48 years$628$354$191$99$50$16
49 years$608$338$179$91$45$14
50 years$589$323$168$85$41$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $603,000, adding $2,082 every year, while hoping to spend $24,037 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: 56/17/27 Blend
59$603,000$603,000$603,000$603,000
60$666,654$634,695$625,348$698,931
61$709,077$640,219$620,722$726,871
62$755,022$645,209$615,135$754,615
63$804,823$649,613$608,531$784,352
64$858,846$653,375$600,848$816,282
65$917,495$656,437$592,023$850,625
66$981,214$658,737$581,990$887,626
67$1,050,492$660,210$570,681$927,555
68$1,125,866$660,784$558,023$970,712
69$1,207,927$660,385$543,939$1,017,427
70$1,297,326$658,934$528,351$1,068,066
71$1,394,778$656,347$511,176$1,123,031
72$1,501,072$652,535$492,327$1,182,769
73$1,617,075$647,402$471,714$1,247,774
74$1,743,741$640,850$449,241$1,318,590
75$1,882,122$632,770$424,810$1,395,819
76$2,033,374$623,051$398,316$1,480,126
77$2,198,770$611,574$369,652$1,572,246
78$2,379,714$598,210$338,705$1,672,990
79$2,577,749$582,827$305,356$1,783,254
80$2,794,576$565,282$269,482$1,904,028
81$3,032,067$545,425$230,954$2,036,404
82$3,292,284$523,097$189,637$2,181,590
83$3,577,498$498,129$145,391$2,340,917
84$3,890,210$470,345$98,068$2,515,857
85$4,233,175$439,555$47,517$2,708,033
86$4,609,426$405,560$0$2,919,237
87$5,022,305$368,151$0$3,153,300
88$5,475,494$327,103$0$3,425,283
89$5,973,047$282,184$0$3,723,942
90$6,519,430$233,143$0$4,051,988
91$7,119,564$179,719$0$4,412,410
92$7,778,869$121,635$0$4,808,504
93$8,503,316$58,598$0$5,243,903
94$9,299,483$0$0$5,722,609
95$10,174,617$0$0$6,250,852
96$11,136,703$0$0$6,843,688
97$12,194,536$0$0$7,495,585
98$13,357,807$0$0$8,212,521
99$14,637,194$0$0$9,001,084
100$16,044,461$0$0$9,868,534