Can I retire at age 60 with 638,000?

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 $638,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$52,685$52,216$51,758$51,311$50,875$50,449
2 years$26,082$25,596$25,125$24,669$24,226$23,797
3 years$17,215$16,727$16,258$15,806$15,370$14,950
4 years$12,783$12,296$11,832$11,387$10,962$10,556
5 years$10,124$9,641$9,182$8,746$8,333$7,941
6 years$8,352$7,872$7,420$6,995$6,594$6,217
7 years$7,087$6,611$6,166$5,751$5,363$5,000
8 years$6,138$5,667$5,229$4,824$4,449$4,102
9 years$5,401$4,934$4,504$4,109$3,746$3,414
10 years$4,812$4,349$3,927$3,542$3,192$2,875
11 years$4,330$3,872$3,457$3,083$2,745$2,442
12 years$3,928$3,475$3,068$2,704$2,379$2,090
13 years$3,589$3,140$2,741$2,387$2,075$1,800
14 years$3,298$2,855$2,463$2,119$1,819$1,557
15 years$3,047$2,608$2,224$1,890$1,601$1,353
16 years$2,827$2,393$2,016$1,692$1,415$1,180
17 years$2,633$2,203$1,835$1,520$1,255$1,032
18 years$2,461$2,036$1,675$1,370$1,116$905
19 years$2,307$1,887$1,533$1,238$994$795
20 years$2,168$1,754$1,407$1,121$888$700
21 years$2,043$1,633$1,294$1,018$795$617
22 years$1,930$1,525$1,193$925$713$545
23 years$1,827$1,426$1,101$843$640$482
24 years$1,732$1,336$1,019$769$575$427
25 years$1,645$1,254$943$702$517$378
26 years$1,565$1,178$875$642$466$336
27 years$1,491$1,109$812$587$420$298
28 years$1,422$1,045$755$538$379$265
29 years$1,358$986$703$494$342$235
30 years$1,299$931$655$453$309$209
31 years$1,243$880$610$416$280$186
32 years$1,191$833$569$382$253$165
33 years$1,143$789$532$352$229$147
34 years$1,097$747$497$323$207$131
35 years$1,054$709$464$298$188$117
36 years$1,013$673$435$274$170$104
37 years$975$639$407$253$154$93
38 years$939$607$381$233$140$83
39 years$905$578$357$215$127$74
40 years$872$549$334$198$115$66
41 years$841$523$314$183$104$59
42 years$812$498$294$169$95$52
43 years$784$475$276$156$86$47
44 years$758$452$259$144$78$42
45 years$733$431$243$133$71$37
46 years$709$412$229$123$64$33
47 years$686$393$215$113$58$30
48 years$664$375$202$105$53$26
49 years$643$358$190$97$48$24
50 years$623$342$178$89$44$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $638,000, adding $2,175 every year, while hoping to spend $28,134 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: 58/17/25 Blend
59$638,000$638,000$638,000$638,000
60$705,320$671,506$661,617$741,337
61$747,328$674,475$653,846$769,150
62$792,678$676,647$644,873$796,276
63$841,681$677,953$634,626$825,256
64$894,679$678,319$623,033$856,276
65$952,049$677,669$610,016$889,544
66$1,014,202$675,919$595,497$925,287
67$1,081,594$672,982$579,389$963,760
68$1,154,724$668,766$561,606$1,005,241
69$1,234,142$663,172$542,056$1,050,042
70$1,320,452$656,095$520,642$1,098,505
71$1,414,319$647,424$497,265$1,151,009
72$1,516,475$637,043$471,818$1,207,974
73$1,627,724$624,827$444,193$1,269,865
74$1,748,953$610,645$414,275$1,337,194
75$1,881,136$594,356$381,942$1,410,528
76$2,025,346$575,813$347,072$1,490,495
77$2,182,763$554,861$309,531$1,577,789
78$2,354,689$531,333$269,184$1,673,174
79$2,542,554$505,054$225,888$1,777,497
80$2,747,932$475,840$179,493$1,891,696
81$2,972,560$443,495$129,845$2,016,801
82$3,218,346$407,811$76,780$2,153,957
83$3,487,394$368,571$20,129$2,304,424
84$3,782,020$325,542$0$2,469,595
85$4,104,773$278,480$0$2,661,767
86$4,458,461$227,127$0$2,878,311
87$4,846,179$171,211$0$3,115,779
88$5,271,331$110,443$0$3,376,298
89$5,737,671$44,519$0$3,662,210
90$6,249,331$0$0$3,976,099
91$6,810,862$0$0$4,325,842
92$7,427,278$0$0$4,718,968
93$8,104,102$0$0$5,150,677
94$8,847,419$0$0$5,624,857
95$9,663,930$0$0$6,145,792
96$10,561,018$0$0$6,718,198
97$11,546,817$0$0$7,347,274
98$12,630,288$0$0$8,038,746
99$13,821,303$0$0$8,798,923
100$15,130,737$0$0$9,634,755