Can I retire at age 60 with 653,000?

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 $653,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$53,924$53,444$52,975$52,518$52,071$51,124
2 years$26,695$26,198$25,716$25,249$24,796$23,845
3 years$17,620$17,121$16,640$16,177$15,731$14,807
4 years$13,083$12,585$12,110$11,655$11,220$10,328
5 years$10,362$9,867$9,398$8,952$8,529$7,673
6 years$8,548$8,057$7,595$7,159$6,749$5,929
7 years$7,253$6,766$6,311$5,886$5,489$4,706
8 years$6,283$5,800$5,352$4,937$4,553$3,807
9 years$5,528$5,050$4,610$4,206$3,835$3,125
10 years$4,925$4,451$4,019$3,625$3,267$2,593
11 years$4,431$3,963$3,538$3,155$2,810$2,170
12 years$4,021$3,557$3,140$2,767$2,435$1,829
13 years$3,673$3,214$2,806$2,443$2,123$1,550
14 years$3,376$2,922$2,521$2,169$1,861$1,320
15 years$3,118$2,669$2,276$1,934$1,639$1,129
16 years$2,893$2,449$2,063$1,732$1,448$968
17 years$2,695$2,255$1,878$1,556$1,284$832
18 years$2,518$2,084$1,714$1,402$1,142$717
19 years$2,361$1,931$1,569$1,267$1,018$619
20 years$2,219$1,795$1,440$1,148$909$536
21 years$2,091$1,672$1,325$1,042$814$464
22 years$1,975$1,560$1,221$947$729$402
23 years$1,869$1,459$1,127$862$655$349
24 years$1,773$1,367$1,042$787$588$304
25 years$1,684$1,283$966$718$529$264
26 years$1,602$1,206$896$657$477$230
27 years$1,526$1,135$832$601$430$200
28 years$1,455$1,070$773$551$388$174
29 years$1,390$1,009$719$505$350$152
30 years$1,329$953$670$464$317$132
31 years$1,272$901$625$426$286$115
32 years$1,219$852$583$391$259$101
33 years$1,169$807$544$360$234$88
34 years$1,123$765$508$331$212$77
35 years$1,079$726$475$305$192$67
36 years$1,037$689$445$281$174$58
37 years$998$654$416$259$158$51
38 years$961$622$390$238$143$45
39 years$926$591$365$220$130$39
40 years$893$562$342$203$118$34
41 years$861$535$321$187$107$30
42 years$831$510$301$173$97$26
43 years$803$486$283$159$88$23
44 years$776$463$265$147$80$20
45 years$750$442$249$136$72$17
46 years$725$421$234$126$66$15
47 years$702$402$220$116$60$13
48 years$680$384$206$107$54$12
49 years$658$366$194$99$49$10
50 years$638$350$182$92$45$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $653,000, adding $5,654 every year, while hoping to spend $20,864 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: 77/18/5 Blend
59$653,000$653,000$653,000$653,000
60$725,438$690,829$680,708$780,662
61$777,234$702,481$681,312$829,340
62$833,613$714,004$681,238$879,414
63$895,022$725,370$680,439$933,691
64$961,950$736,550$678,870$992,579
65$1,034,938$747,509$676,481$1,056,526
66$1,114,579$758,215$673,221$1,126,028
67$1,201,527$768,628$669,034$1,201,629
68$1,296,501$778,709$663,865$1,283,930
69$1,400,293$788,415$657,654$1,373,591
70$1,513,777$797,701$650,339$1,471,341
71$1,637,911$806,517$641,854$1,577,982
72$1,773,753$814,811$632,132$1,694,398
73$1,922,467$822,529$621,100$1,821,563
74$2,085,336$829,610$608,684$1,960,550
75$2,263,771$835,992$594,806$2,112,540
76$2,459,327$841,607$579,383$2,278,837
77$2,673,716$846,383$562,330$2,460,874
78$2,908,825$850,245$543,557$2,660,234
79$3,166,729$853,111$522,971$2,878,660
80$3,449,718$854,896$500,472$3,118,070
81$3,760,311$855,508$475,960$3,380,582
82$4,101,284$854,849$449,326$3,668,526
83$4,475,696$852,817$420,459$3,984,473
84$4,886,913$849,302$389,241$4,331,254
85$5,338,648$844,188$355,551$4,711,990
86$5,834,988$837,351$319,259$5,130,119
87$6,380,436$828,660$280,234$5,589,431
88$6,979,954$817,978$238,335$6,094,103
89$7,639,007$805,157$193,417$6,648,738
90$8,363,617$790,041$145,328$7,258,408
91$9,160,419$772,465$93,909$7,928,703
92$10,036,721$752,255$38,994$8,665,784
93$11,000,576$729,226$0$9,476,442
94$12,060,859$703,182$0$10,369,204
95$13,227,345$673,916$0$11,353,560
96$14,510,804$641,208$0$12,436,527
97$15,923,107$604,828$0$13,628,129
98$17,477,328$564,529$0$14,939,419
99$19,187,877$520,052$0$16,382,573
100$21,070,630$471,124$0$17,971,010