Can I retire at age 60 with 291,000?

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 $291,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$24,031$23,816$23,608$23,404$23,205$22,820
2 years$11,896$11,675$11,460$11,252$11,050$10,664
3 years$7,852$7,630$7,415$7,209$7,010$6,635
4 years$5,830$5,609$5,397$5,194$5,000$4,637
5 years$4,618$4,397$4,188$3,989$3,801$3,452
6 years$3,809$3,591$3,384$3,190$3,008$2,674
7 years$3,232$3,015$2,812$2,623$2,446$2,127
8 years$2,800$2,585$2,385$2,200$2,029$1,725
9 years$2,463$2,250$2,054$1,874$1,709$1,419
10 years$2,195$1,984$1,791$1,616$1,456$1,180
11 years$1,975$1,766$1,577$1,406$1,252$990
12 years$1,792$1,585$1,399$1,233$1,085$837
13 years$1,637$1,432$1,250$1,089$946$711
14 years$1,504$1,302$1,123$967$829$607
15 years$1,390$1,189$1,014$862$730$521
16 years$1,289$1,091$920$772$645$448
17 years$1,201$1,005$837$693$572$386
18 years$1,122$929$764$625$509$334
19 years$1,052$861$699$565$454$289
20 years$989$800$642$511$405$251
21 years$932$745$590$464$363$218
22 years$880$695$544$422$325$189
23 years$833$650$502$384$292$165
24 years$790$609$465$351$262$144
25 years$750$572$430$320$236$125
26 years$714$537$399$293$213$110
27 years$680$506$371$268$192$96
28 years$649$477$344$245$173$84
29 years$619$450$321$225$156$73
30 years$592$425$299$207$141$64
31 years$567$401$278$190$128$56
32 years$543$380$260$174$115$49
33 years$521$360$243$160$104$43
34 years$500$341$227$148$95$38
35 years$481$323$212$136$86$33
36 years$462$307$198$125$78$29
37 years$445$292$185$115$70$25
38 years$428$277$174$106$64$22
39 years$413$263$163$98$58$19
40 years$398$251$153$90$52$17
41 years$384$239$143$83$48$15
42 years$370$227$134$77$43$13
43 years$358$216$126$71$39$11
44 years$346$206$118$66$36$10
45 years$334$197$111$61$32$9
46 years$323$188$104$56$29$8
47 years$313$179$98$52$27$7
48 years$303$171$92$48$24$6
49 years$293$163$86$44$22$5
50 years$284$156$81$41$20$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $291,000, adding $2,673 every year, while hoping to spend $22,888 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: 31/50/19 Blend
59$291,000$291,000$291,000$291,000
60$323,439$308,016$303,506$331,473
61$332,077$298,756$289,320$328,476
62$340,829$288,276$273,893$322,987
63$349,683$276,490$257,157$316,594
64$358,623$263,311$239,045$309,230
65$367,634$248,644$219,484$300,826
66$376,695$232,390$198,399$291,311
67$385,785$214,444$175,712$280,604
68$394,877$194,694$151,341$268,624
69$403,944$173,024$125,200$255,281
70$412,953$149,308$97,201$240,484
71$421,866$123,417$67,250$224,130
72$430,643$95,210$35,249$206,116
73$439,236$64,543$1,097$186,328
74$447,592$31,260$0$164,646
75$455,653$0$0$148,108
76$463,352$0$0$132,760
77$470,614$0$0$134,436
78$477,357$0$0$135,910
79$483,489$0$0$137,149
80$488,905$0$0$138,117
81$493,491$0$0$138,773
82$497,118$0$0$139,073
83$499,643$0$0$138,967
84$500,909$0$0$138,400
85$500,738$0$0$137,311
86$498,935$0$0$135,632
87$495,283$0$0$133,288
88$489,540$0$0$130,195
89$481,438$0$0$126,260
90$470,683$0$0$121,382
91$456,944$0$0$115,448
92$439,859$0$0$108,331
93$419,026$0$0$99,892
94$393,997$0$0$89,980
95$364,281$0$0$78,423
96$329,332$0$0$65,034
97$288,547$0$0$49,605
98$241,259$0$0$31,908
99$186,731$0$0$11,689
100$124,148$0$0$0