Can I retire at age 60 with 304,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $304,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$25,104$24,880$24,662$24,449$24,241$23,627
2 years$12,428$12,196$11,972$11,754$11,544$10,928
3 years$8,203$7,970$7,747$7,531$7,324$6,727
4 years$6,091$5,859$5,638$5,426$5,223$4,650
5 years$4,824$4,594$4,375$4,168$3,971$3,422
6 years$3,980$3,751$3,536$3,333$3,142$2,619
7 years$3,377$3,150$2,938$2,740$2,555$2,057
8 years$2,925$2,700$2,492$2,299$2,120$1,647
9 years$2,574$2,351$2,146$1,958$1,785$1,337
10 years$2,293$2,072$1,871$1,688$1,521$1,097
11 years$2,063$1,845$1,647$1,469$1,308$908
12 years$1,872$1,656$1,462$1,288$1,134$756
13 years$1,710$1,496$1,306$1,137$989$634
14 years$1,572$1,360$1,174$1,010$867$533
15 years$1,452$1,243$1,060$900$763$450
16 years$1,347$1,140$961$806$674$381
17 years$1,254$1,050$874$724$598$323
18 years$1,172$970$798$653$532$275
19 years$1,099$899$731$590$474$234
20 years$1,033$836$670$534$423$200
21 years$974$778$617$485$379$171
22 years$920$726$568$441$340$146
23 years$870$679$525$402$305$125
24 years$825$637$485$366$274$107
25 years$784$597$450$334$246$92
26 years$746$561$417$306$222$79
27 years$710$528$387$280$200$68
28 years$678$498$360$256$181$58
29 years$647$470$335$235$163$50
30 years$619$444$312$216$147$43
31 years$592$419$291$198$133$37
32 years$568$397$271$182$121$32
33 years$544$376$253$168$109$27
34 years$523$356$237$154$99$23
35 years$502$338$221$142$89$20
36 years$483$321$207$131$81$17
37 years$465$305$194$120$73$15
38 years$447$289$181$111$67$13
39 years$431$275$170$102$60$11
40 years$416$262$159$94$55$9
41 years$401$249$149$87$50$8
42 years$387$237$140$80$45$7
43 years$374$226$132$74$41$6
44 years$361$216$123$68$37$5
45 years$349$206$116$63$34$4
46 years$338$196$109$58$31$4
47 years$327$187$102$54$28$3
48 years$316$179$96$50$25$3
49 years$306$171$90$46$23$2
50 years$297$163$85$43$21$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $304,000, adding $6,639 every year, while hoping to spend $24,510 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: 44/39/17 Blend
59$304,000$304,000$304,000$304,000
60$341,856$325,744$321,032$354,951
61$350,647$315,627$305,708$354,677
62$359,513$304,193$289,050$351,428
63$368,436$291,351$270,985$347,386
64$377,395$277,006$251,442$342,489
65$386,367$261,056$230,343$336,670
66$395,323$243,395$207,606$329,857
67$404,234$223,910$183,149$321,976
68$413,064$202,480$156,883$312,945
69$421,775$178,979$128,716$302,676
70$430,321$153,274$98,553$291,077
71$438,653$125,223$66,294$278,049
72$446,714$94,678$31,833$263,485
73$454,442$61,481$0$247,271
74$461,767$25,465$0$230,182
75$468,609$0$0$217,410
76$474,881$0$0$208,869
77$480,485$0$0$210,913
78$485,311$0$0$212,558
79$489,238$0$0$213,745
80$492,129$0$0$214,407
81$493,835$0$0$214,472
82$494,187$0$0$213,855
83$492,999$0$0$212,468
84$490,065$0$0$210,208
85$485,155$0$0$206,964
86$478,016$0$0$202,611
87$468,364$0$0$197,012
88$455,888$0$0$190,015
89$440,241$0$0$181,451
90$421,041$0$0$171,133
91$397,864$0$0$158,854
92$370,239$0$0$144,387
93$337,648$0$0$127,477
94$299,516$0$0$107,846
95$255,209$0$0$85,185
96$204,025$0$0$59,152
97$145,188$0$0$29,370
98$77,840$0$0$0
99$1,035$0$0$0
100$0$0$0$0