Can I retire at age 60 with 629,000?

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 $629,000?

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$51,942$51,480$51,028$50,588$50,157$48,436
2 years$25,714$25,235$24,771$24,321$23,884$22,167
3 years$16,972$16,491$16,028$15,583$15,153$13,495
4 years$12,602$12,123$11,665$11,226$10,807$9,220
5 years$9,981$9,505$9,052$8,623$8,216$6,704
6 years$8,234$7,761$7,316$6,896$6,501$5,066
7 years$6,987$6,518$6,079$5,669$5,287$3,928
8 years$6,052$5,587$5,156$4,756$4,386$3,102
9 years$5,325$4,864$4,441$4,051$3,694$2,484
10 years$4,744$4,288$3,871$3,492$3,147$2,009
11 years$4,269$3,817$3,408$3,039$2,707$1,638
12 years$3,873$3,426$3,025$2,666$2,346$1,344
13 years$3,538$3,096$2,702$2,353$2,045$1,108
14 years$3,252$2,814$2,428$2,089$1,793$918
15 years$3,004$2,571$2,192$1,863$1,579$762
16 years$2,787$2,359$1,988$1,668$1,395$635
17 years$2,596$2,172$1,809$1,499$1,237$530
18 years$2,426$2,007$1,651$1,351$1,100$443
19 years$2,274$1,860$1,511$1,221$980$371
20 years$2,138$1,729$1,387$1,105$876$311
21 years$2,015$1,610$1,276$1,003$784$261
22 years$1,903$1,503$1,176$912$702$219
23 years$1,801$1,406$1,086$831$631$184
24 years$1,707$1,317$1,004$758$567$155
25 years$1,622$1,236$930$692$510$131
26 years$1,543$1,162$863$633$459$110
27 years$1,470$1,093$801$579$414$93
28 years$1,402$1,030$745$531$374$78
29 years$1,339$972$693$487$337$66
30 years$1,280$918$645$447$305$55
31 years$1,226$868$602$410$276$47
32 years$1,174$821$561$377$249$39
33 years$1,126$778$524$347$226$33
34 years$1,081$737$490$319$204$28
35 years$1,039$699$458$294$185$24
36 years$999$663$428$270$168$20
37 years$961$630$401$249$152$17
38 years$926$599$375$230$138$14
39 years$892$569$352$212$125$12
40 years$860$542$330$195$113$10
41 years$830$516$309$180$103$9
42 years$801$491$290$166$93$7
43 years$773$468$272$153$85$6
44 years$747$446$255$142$77$5
45 years$722$425$240$131$70$4
46 years$699$406$225$121$63$4
47 years$676$387$212$112$58$3
48 years$655$370$199$103$52$3
49 years$634$353$187$95$47$2
50 years$614$337$176$88$43$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $629,000, adding $3,413 every year, while hoping to spend $48,972 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: 31/49/20 Blend
59$629,000$629,000$629,000$629,000
60$696,679$663,342$653,592$713,842
61$715,634$643,739$623,382$707,464
62$734,881$621,535$590,518$695,936
63$754,399$596,551$554,860$682,496
64$774,161$568,595$516,261$667,008
65$794,138$537,468$474,568$649,327
66$814,294$502,958$429,620$629,299
67$834,589$464,840$381,249$606,761
68$854,977$422,878$329,281$581,538
69$875,406$376,820$273,533$553,447
70$895,815$326,401$213,814$522,291
71$916,136$271,343$149,925$487,861
72$936,291$211,348$81,656$449,937
73$956,193$146,105$8,793$408,284
74$975,744$75,283$0$362,650
75$994,833$0$0$327,489
76$1,013,336$0$0$291,550
77$1,031,112$0$0$295,901
78$1,048,005$0$0$299,898
79$1,063,840$0$0$303,476
80$1,078,423$0$0$306,569
81$1,091,534$0$0$309,100
82$1,102,930$0$0$310,984
83$1,112,340$0$0$312,126
84$1,119,463$0$0$312,422
85$1,123,964$0$0$311,754
86$1,125,468$0$0$309,993
87$1,123,561$0$0$306,995
88$1,117,784$0$0$302,601
89$1,107,626$0$0$296,635
90$1,092,520$0$0$288,899
91$1,071,838$0$0$279,177
92$1,044,886$0$0$267,230
93$1,010,891$0$0$252,790
94$969,001$0$0$235,564
95$918,271$0$0$215,227
96$857,654$0$0$191,417
97$785,995$0$0$163,737
98$702,014$0$0$131,747
99$604,296$0$0$94,960
100$491,277$0$0$52,839