Can I retire at age 60 with 656,000?

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 $656,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$54,172$53,689$53,219$52,759$52,310$50,881
2 years$26,818$26,318$25,834$25,365$24,910$23,480
3 years$17,701$17,199$16,716$16,252$15,804$14,418
4 years$13,143$12,643$12,165$11,708$11,271$9,941
5 years$10,410$9,913$9,441$8,993$8,568$7,297
6 years$8,588$8,094$7,630$7,192$6,780$5,568
7 years$7,287$6,798$6,340$5,913$5,514$4,362
8 years$6,312$5,827$5,377$4,960$4,574$3,482
9 years$5,553$5,073$4,631$4,225$3,852$2,819
10 years$4,947$4,472$4,038$3,642$3,282$2,306
11 years$4,452$3,981$3,555$3,170$2,823$1,902
12 years$4,039$3,573$3,155$2,780$2,446$1,579
13 years$3,690$3,229$2,818$2,454$2,133$1,318
14 years$3,391$2,935$2,532$2,179$1,870$1,105
15 years$3,133$2,681$2,286$1,943$1,646$930
16 years$2,906$2,460$2,073$1,740$1,455$784
17 years$2,707$2,266$1,886$1,563$1,290$663
18 years$2,530$2,094$1,722$1,409$1,147$562
19 years$2,372$1,940$1,576$1,273$1,023$477
20 years$2,230$1,803$1,447$1,153$913$406
21 years$2,101$1,679$1,331$1,046$817$345
22 years$1,984$1,568$1,226$951$733$294
23 years$1,878$1,466$1,132$866$658$251
24 years$1,781$1,374$1,047$790$591$214
25 years$1,691$1,289$970$722$532$183
26 years$1,609$1,212$900$660$479$156
27 years$1,533$1,140$835$604$432$133
28 years$1,462$1,074$777$553$390$114
29 years$1,396$1,014$723$507$352$98
30 years$1,335$957$673$466$318$83
31 years$1,278$905$628$428$288$71
32 years$1,225$856$586$393$260$61
33 years$1,175$811$547$361$235$52
34 years$1,128$769$511$333$213$45
35 years$1,084$729$478$306$193$38
36 years$1,042$692$447$282$175$33
37 years$1,003$657$418$260$158$28
38 years$965$625$392$239$144$24
39 years$930$594$367$221$130$21
40 years$897$565$344$204$118$18
41 years$865$538$322$188$107$15
42 years$835$512$302$173$97$13
43 years$807$488$284$160$88$11
44 years$779$465$266$148$80$10
45 years$754$444$250$137$73$8
46 years$729$423$235$126$66$7
47 years$705$404$221$116$60$6
48 years$683$386$207$108$54$5
49 years$661$368$195$99$49$4
50 years$640$352$183$92$45$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $656,000, adding $6,113 every year, while hoping to spend $39,838 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: 64/25/11 Blend
59$656,000$656,000$656,000$656,000
60$729,218$694,450$684,282$773,702
61$761,210$686,090$664,818$795,816
62$795,131$675,986$643,367$814,760
63$831,135$664,010$619,820$834,446
64$869,390$650,026$594,063$854,947
65$910,082$633,891$565,978$876,341
66$953,413$615,454$535,441$898,718
67$999,605$594,555$502,322$922,177
68$1,048,900$571,024$466,485$946,829
69$1,101,564$544,680$427,788$972,798
70$1,157,888$515,334$386,084$1,000,225
71$1,218,193$482,786$341,218$1,029,263
72$1,282,828$446,821$293,028$1,060,087
73$1,352,178$407,217$241,346$1,092,888
74$1,426,664$363,734$185,995$1,127,883
75$1,506,749$316,123$126,791$1,165,312
76$1,592,942$264,118$63,544$1,205,441
77$1,685,800$207,438$0$1,248,567
78$1,785,938$145,788$0$1,295,487
79$1,894,026$78,855$0$1,354,093
80$2,010,807$6,308$0$1,417,355
81$2,137,092$0$0$1,485,755
82$2,273,775$0$0$1,579,688
83$2,421,840$0$0$1,683,360
84$2,582,365$0$0$1,795,796
85$2,756,539$0$0$1,917,835
86$2,945,668$0$0$2,050,395
87$3,151,189$0$0$2,194,491
88$3,374,683$0$0$2,351,235
89$3,617,888$0$0$2,521,854
90$3,882,718$0$0$2,707,695
91$4,171,279$0$0$2,910,244
92$4,485,888$0$0$3,131,134
93$4,829,094$0$0$3,372,161
94$5,203,706$0$0$3,635,306
95$5,612,812$0$0$3,922,745
96$6,059,814$0$0$4,236,877
97$6,548,458$0$0$4,580,342
98$7,082,864$0$0$4,956,047
99$7,667,574$0$0$5,367,192
100$8,307,586$0$0$5,817,300