Can I retire at age 60 with 612,000?

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 $612,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$50,538$50,088$49,649$49,220$48,802$48,576
2 years$25,019$24,553$24,101$23,664$23,239$23,011
3 years$16,514$16,046$15,595$15,162$14,744$14,520
4 years$12,262$11,795$11,349$10,923$10,515$10,299
5 years$9,711$9,248$8,808$8,390$7,994$7,784
6 years$8,012$7,551$7,118$6,709$6,325$6,123
7 years$6,798$6,342$5,915$5,516$5,144$4,950
8 years$5,888$5,436$5,016$4,627$4,267$4,081
9 years$5,181$4,733$4,321$3,942$3,594$3,415
10 years$4,615$4,172$3,767$3,398$3,062$2,891
11 years$4,153$3,714$3,316$2,957$2,633$2,470
12 years$3,768$3,333$2,943$2,594$2,282$2,126
13 years$3,443$3,012$2,629$2,290$1,990$1,841
14 years$3,164$2,738$2,363$2,033$1,744$1,602
15 years$2,922$2,501$2,133$1,813$1,536$1,401
16 years$2,711$2,295$1,934$1,623$1,357$1,229
17 years$2,525$2,114$1,760$1,458$1,204$1,081
18 years$2,360$1,953$1,606$1,314$1,070$954
19 years$2,213$1,810$1,471$1,188$954$844
20 years$2,080$1,682$1,350$1,076$852$748
21 years$1,960$1,567$1,241$976$762$664
22 years$1,851$1,463$1,144$888$683$590
23 years$1,752$1,368$1,056$808$614$526
24 years$1,661$1,282$977$737$551$469
25 years$1,578$1,203$905$673$496$418
26 years$1,501$1,130$839$616$447$373
27 years$1,430$1,064$779$563$403$334
28 years$1,364$1,002$725$516$364$299
29 years$1,303$946$674$473$328$267
30 years$1,246$893$628$434$297$239
31 years$1,193$844$585$399$268$215
32 years$1,143$799$546$367$243$192
33 years$1,096$757$510$337$220$173
34 years$1,052$717$477$310$199$155
35 years$1,011$680$446$286$180$139
36 years$972$645$417$263$163$125
37 years$935$613$390$242$148$112
38 years$901$583$365$223$134$101
39 years$868$554$342$206$122$90
40 years$837$527$321$190$110$81
41 years$807$502$301$175$100$73
42 years$779$478$282$162$91$66
43 years$753$455$265$149$82$59
44 years$727$434$249$138$75$53
45 years$703$414$233$127$68$48
46 years$680$395$219$118$62$43
47 years$658$377$206$109$56$39
48 years$637$360$194$100$51$35
49 years$617$343$182$93$46$31
50 years$598$328$171$86$42$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $612,000, adding $2,738 every year, while hoping to spend $28,562 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: 21/49/30 Blend
59$612,000$612,000$612,000$612,000
60$677,248$644,812$635,326$684,995
61$715,938$646,018$626,220$693,588
62$757,616$646,326$615,851$700,230
63$802,559$645,662$604,148$706,715
64$851,067$643,946$591,034$713,049
65$903,472$641,096$576,430$719,242
66$960,139$637,022$560,253$725,306
67$1,021,468$631,631$542,416$731,260
68$1,087,899$624,823$522,829$737,125
69$1,159,918$616,492$501,396$742,930
70$1,238,055$606,525$478,018$748,709
71$1,322,896$594,805$452,592$754,506
72$1,415,086$581,205$425,008$760,370
73$1,515,333$565,592$395,154$766,362
74$1,624,417$547,826$362,911$772,554
75$1,743,194$527,756$328,156$779,029
76$1,872,609$505,225$290,758$785,884
77$2,013,699$480,065$250,583$793,231
78$2,167,609$452,101$207,489$801,201
79$2,335,595$421,144$161,331$809,943
80$2,519,043$386,997$111,953$819,628
81$2,719,477$349,452$59,195$830,452
82$2,938,576$308,287$2,890$842,638
83$3,178,186$263,269$0$856,439
84$3,440,343$214,151$0$890,452
85$3,727,286$160,672$0$928,870
86$4,041,483$102,558$0$971,198
87$4,385,648$39,518$0$1,017,912
88$4,762,775$0$0$1,069,548
89$5,176,157$0$0$1,142,205
90$5,629,422$0$0$1,245,346
91$6,126,568$0$0$1,358,587
92$6,671,995$0$0$1,482,944
93$7,270,552$0$0$1,619,538
94$7,927,579$0$0$1,769,602
95$8,648,959$0$0$1,934,497
96$9,441,172$0$0$2,115,719
97$10,311,356$0$0$2,314,918
98$11,267,376$0$0$2,533,913
99$12,317,893$0$0$2,774,706
100$13,472,453$0$0$3,039,503