Can I retire at age 60 with 614,000?

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 $614,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$50,704$50,252$49,811$49,381$48,961$47,280
2 years$25,101$24,633$24,180$23,741$23,315$21,639
3 years$16,568$16,098$15,646$15,211$14,792$13,173
4 years$12,302$11,834$11,386$10,959$10,550$9,000
5 years$9,743$9,278$8,836$8,417$8,020$6,544
6 years$8,038$7,576$7,141$6,731$6,346$4,945
7 years$6,820$6,362$5,934$5,534$5,161$3,834
8 years$5,907$5,454$5,033$4,643$4,281$3,029
9 years$5,198$4,748$4,335$3,954$3,606$2,425
10 years$4,631$4,186$3,779$3,409$3,072$1,961
11 years$4,167$3,726$3,327$2,967$2,642$1,599
12 years$3,780$3,344$2,953$2,602$2,290$1,312
13 years$3,454$3,022$2,638$2,297$1,997$1,082
14 years$3,174$2,747$2,370$2,039$1,750$896
15 years$2,932$2,510$2,140$1,819$1,541$744
16 years$2,720$2,303$1,940$1,628$1,362$620
17 years$2,534$2,121$1,766$1,463$1,208$517
18 years$2,368$1,959$1,612$1,319$1,074$432
19 years$2,220$1,816$1,475$1,191$957$362
20 years$2,087$1,688$1,354$1,079$855$304
21 years$1,967$1,572$1,246$979$765$255
22 years$1,857$1,467$1,148$890$686$214
23 years$1,758$1,372$1,060$811$616$180
24 years$1,667$1,286$980$740$553$151
25 years$1,583$1,207$908$675$498$127
26 years$1,506$1,134$842$618$448$107
27 years$1,435$1,067$782$565$404$90
28 years$1,368$1,006$727$518$365$76
29 years$1,307$949$676$475$329$64
30 years$1,250$896$630$436$298$54
31 years$1,196$847$587$400$269$46
32 years$1,146$801$548$368$243$38
33 years$1,100$759$512$338$220$32
34 years$1,056$719$478$311$199$27
35 years$1,014$682$447$287$181$23
36 years$975$648$418$264$164$19
37 years$938$615$391$243$148$16
38 years$904$585$367$224$134$14
39 years$871$556$343$207$122$12
40 years$839$529$322$191$111$10
41 years$810$503$302$176$100$8
42 years$782$479$283$162$91$7
43 years$755$457$266$150$83$6
44 years$730$435$249$138$75$5
45 years$705$415$234$128$68$4
46 years$682$396$220$118$62$4
47 years$660$378$207$109$56$3
48 years$639$361$194$101$51$3
49 years$619$345$182$93$46$2
50 years$599$329$172$86$42$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $614,000, adding $3,092 every year, while hoping to spend $31,520 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: 47/29/24 Blend
59$614,000$614,000$614,000$614,000
60$679,817$647,275$637,758$706,978
61$715,622$645,455$625,586$724,527
62$754,022$642,489$611,950$740,206
63$795,249$638,287$596,767$756,591
64$839,557$632,756$579,952$773,766
65$887,225$625,795$561,413$791,820
66$938,560$617,296$541,058$810,858
67$993,897$607,148$518,788$830,995
68$1,053,605$595,229$494,498$852,359
69$1,118,092$581,414$468,083$875,097
70$1,187,802$565,568$439,428$899,370
71$1,263,226$547,550$408,418$925,359
72$1,344,903$527,207$374,927$953,269
73$1,433,425$504,382$338,829$983,325
74$1,529,444$478,906$299,989$1,015,780
75$1,633,675$450,601$258,267$1,050,917
76$1,746,907$419,278$213,516$1,089,050
77$1,870,007$384,737$165,584$1,130,530
78$2,003,928$346,769$114,311$1,175,747
79$2,149,718$305,151$59,531$1,225,135
80$2,308,533$259,648$1,069$1,279,178
81$2,481,643$210,010$0$1,338,413
82$2,670,446$155,975$0$1,419,140
83$2,876,481$97,267$0$1,507,634
84$3,101,441$33,592$0$1,604,407
85$3,347,191$0$0$1,710,332
86$3,615,783$0$0$1,837,655
87$3,909,478$0$0$1,988,665
88$4,230,764$0$0$2,153,932
89$4,582,381$0$0$2,334,872
90$4,967,345$0$0$2,533,046
91$5,388,978$0$0$2,750,175
92$5,850,940$0$0$2,988,152
93$6,357,258$0$0$3,249,063
94$6,912,371$0$0$3,535,204
95$7,521,166$0$0$3,849,106
96$8,189,025$0$0$4,193,555
97$8,921,878$0$0$4,571,621
98$9,726,255$0$0$4,986,685
99$10,609,351$0$0$5,442,471
100$11,579,090$0$0$5,943,083