Can I retire at age 60 with 606,000?

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 $606,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$50,043$49,597$49,162$48,738$48,323$47,739
2 years$24,774$24,312$23,865$23,432$23,011$22,423
3 years$16,352$15,888$15,442$15,013$14,599$14,026
4 years$12,142$11,680$11,238$10,816$10,412$9,858
5 years$9,616$9,157$8,721$8,308$7,915$7,381
6 years$7,933$7,477$7,048$6,644$6,263$5,751
7 years$6,731$6,279$5,857$5,462$5,094$4,602
8 years$5,830$5,383$4,967$4,582$4,226$3,756
9 years$5,130$4,687$4,278$3,903$3,559$3,110
10 years$4,570$4,131$3,730$3,364$3,032$2,604
11 years$4,112$3,678$3,284$2,928$2,608$2,200
12 years$3,731$3,301$2,914$2,568$2,260$1,873
13 years$3,409$2,983$2,604$2,267$1,971$1,603
14 years$3,133$2,711$2,339$2,013$1,727$1,379
15 years$2,894$2,477$2,112$1,795$1,521$1,191
16 years$2,685$2,273$1,915$1,607$1,344$1,032
17 years$2,501$2,093$1,743$1,444$1,192$897
18 years$2,337$1,934$1,591$1,301$1,060$781
19 years$2,191$1,792$1,456$1,176$945$682
20 years$2,060$1,666$1,336$1,065$844$597
21 years$1,941$1,551$1,229$967$755$523
22 years$1,833$1,448$1,133$879$677$459
23 years$1,735$1,354$1,046$800$608$403
24 years$1,645$1,269$967$730$546$354
25 years$1,562$1,191$896$667$491$312
26 years$1,486$1,119$831$610$443$274
27 years$1,416$1,053$772$558$399$242
28 years$1,351$993$717$511$360$213
29 years$1,290$936$668$469$325$188
30 years$1,234$884$622$430$294$166
31 years$1,181$836$580$395$266$147
32 years$1,132$791$541$363$240$130
33 years$1,085$749$505$334$217$114
34 years$1,042$710$472$307$197$101
35 years$1,001$673$441$283$178$89
36 years$962$639$413$260$162$79
37 years$926$607$386$240$146$70
38 years$892$577$362$221$133$62
39 years$859$549$339$204$120$55
40 years$828$522$318$188$109$48
41 years$799$497$298$174$99$43
42 years$772$473$279$160$90$38
43 years$745$451$262$148$82$34
44 years$720$430$246$137$74$30
45 years$696$410$231$126$67$26
46 years$673$391$217$116$61$23
47 years$651$373$204$108$55$21
48 years$631$356$192$99$50$18
49 years$611$340$180$92$46$16
50 years$592$325$169$85$42$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $606,000, adding $3,126 every year, while hoping to spend $37,575 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: 49/44/7 Blend
59$606,000$606,000$606,000$606,000
60$671,036$638,918$629,525$702,550
61$699,503$630,246$610,635$715,744
62$729,613$619,889$589,852$725,812
63$761,496$607,726$567,075$735,862
64$795,290$593,627$542,194$745,902
65$831,150$577,454$515,097$755,943
66$869,242$559,064$485,667$766,000
67$909,748$538,302$453,781$776,091
68$952,869$515,005$419,309$786,241
69$998,824$489,003$382,118$796,479
70$1,047,852$460,112$342,068$806,840
71$1,100,216$428,141$299,010$817,367
72$1,156,204$392,886$252,793$828,111
73$1,216,132$354,132$203,256$839,130
74$1,280,345$311,651$150,233$850,496
75$1,349,223$265,205$93,548$862,289
76$1,423,182$214,539$33,021$874,605
77$1,502,680$159,385$0$887,553
78$1,588,218$99,459$0$903,617
79$1,680,348$34,464$0$923,369
80$1,779,673$0$0$944,521
81$1,886,860$0$0$984,669
82$2,002,638$0$0$1,046,109
83$2,127,810$0$0$1,112,589
84$2,263,258$0$0$1,184,582
85$2,409,952$0$0$1,262,611
86$2,568,957$0$0$1,347,251
87$2,741,446$0$0$1,439,134
88$2,928,709$0$0$1,538,955
89$3,132,163$0$0$1,647,477
90$3,353,368$0$0$1,765,543
91$3,594,041$0$0$1,894,077
92$3,856,068$0$0$2,034,098
93$4,141,529$0$0$2,186,726
94$4,452,710$0$0$2,353,194
95$4,792,126$0$0$2,534,860
96$5,162,548$0$0$2,733,217
97$5,567,023$0$0$2,949,911
98$6,008,910$0$0$3,186,751
99$6,491,901$0$0$3,445,732
100$7,020,064$0$0$3,729,047