Can I retire at age 60 with 647,000?

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 $647,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$53,429$52,953$52,488$52,035$51,593$51,246
2 years$26,450$25,957$25,480$25,017$24,568$24,218
3 years$17,458$16,963$16,487$16,029$15,587$15,245
4 years$12,963$12,470$11,998$11,548$11,117$10,786
5 years$10,267$9,777$9,311$8,870$8,451$8,131
6 years$8,470$7,983$7,525$7,093$6,687$6,379
7 years$7,187$6,704$6,253$5,832$5,438$5,142
8 years$6,225$5,747$5,303$4,892$4,511$4,228
9 years$5,477$5,004$4,568$4,167$3,799$3,527
10 years$4,879$4,410$3,982$3,592$3,237$2,977
11 years$4,391$3,926$3,506$3,126$2,784$2,536
12 years$3,984$3,524$3,111$2,742$2,413$2,176
13 years$3,639$3,185$2,780$2,421$2,104$1,878
14 years$3,345$2,895$2,498$2,149$1,844$1,629
15 years$3,090$2,645$2,255$1,916$1,624$1,420
16 years$2,866$2,426$2,045$1,716$1,435$1,241
17 years$2,670$2,235$1,860$1,542$1,272$1,089
18 years$2,495$2,065$1,698$1,389$1,131$957
19 years$2,339$1,914$1,555$1,255$1,008$844
20 years$2,199$1,778$1,427$1,137$901$745
21 years$2,072$1,656$1,312$1,032$806$659
22 years$1,957$1,546$1,210$938$723$584
23 years$1,852$1,446$1,117$855$649$518
24 years$1,756$1,355$1,033$779$583$460
25 years$1,668$1,271$957$712$525$409
26 years$1,587$1,195$887$651$473$364
27 years$1,512$1,125$824$596$426$324
28 years$1,442$1,060$766$546$384$288
29 years$1,377$1,000$713$501$347$257
30 years$1,317$944$664$459$314$229
31 years$1,261$893$619$422$284$205
32 years$1,208$845$577$388$257$183
33 years$1,159$800$539$357$232$163
34 years$1,112$758$504$328$210$146
35 years$1,069$719$471$302$190$130
36 years$1,028$682$441$278$172$117
37 years$989$648$412$256$156$104
38 years$952$616$386$236$142$93
39 years$917$586$362$218$129$83
40 years$885$557$339$201$117$75
41 years$853$530$318$185$106$67
42 years$824$505$298$171$96$60
43 years$796$481$280$158$87$54
44 years$769$459$263$146$79$48
45 years$743$438$247$135$72$43
46 years$719$417$232$124$65$38
47 years$696$398$218$115$59$34
48 years$673$380$205$106$54$31
49 years$652$363$192$98$49$28
50 years$632$347$181$91$44$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $647,000, adding $4,123 every year, while hoping to spend $57,991 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: 70/24/6 Blend
59$647,000$647,000$647,000$647,000
60$717,247$682,956$672,927$766,591
61$728,704$654,719$633,768$771,509
62$739,386$623,154$591,354$769,339
63$749,153$588,039$545,514$765,360
64$757,849$549,134$496,070$759,383
65$765,298$506,190$442,837$751,198
66$771,306$458,941$385,620$740,578
67$775,658$407,108$324,217$727,271
68$778,112$350,394$258,416$711,005
69$778,402$288,486$187,995$691,481
70$776,231$221,053$112,725$668,374
71$771,268$147,747$32,363$641,326
72$763,150$68,198$0$609,947
73$751,469$0$0$577,229
74$735,777$0$0$546,469
75$715,575$0$0$530,220
76$690,313$0$0$510,047
77$659,379$0$0$485,477
78$622,097$0$0$455,988
79$577,719$0$0$421,002
80$525,418$0$0$379,881
81$464,279$0$0$331,917
82$393,290$0$0$276,330
83$311,332$0$0$212,255
84$217,169$0$0$138,739
85$109,434$0$0$54,726
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0