Can I retire at age 60 with 397,000?

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 $397,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$32,784$32,492$32,207$31,929$31,657$30,930
2 years$16,230$15,927$15,634$15,350$15,075$14,346
3 years$10,712$10,409$10,117$9,835$9,564$8,856
4 years$7,954$7,652$7,362$7,086$6,821$6,140
5 years$6,300$5,999$5,713$5,442$5,185$4,533
6 years$5,197$4,899$4,617$4,352$4,103$3,480
7 years$4,410$4,114$3,837$3,578$3,337$2,744
8 years$3,820$3,526$3,254$3,002$2,768$2,204
9 years$3,361$3,070$2,803$2,557$2,331$1,796
10 years$2,994$2,706$2,443$2,204$1,986$1,479
11 years$2,694$2,409$2,151$1,918$1,708$1,229
12 years$2,444$2,162$1,909$1,682$1,480$1,028
13 years$2,233$1,954$1,706$1,485$1,291$864
14 years$2,052$1,776$1,533$1,319$1,132$730
15 years$1,896$1,623$1,384$1,176$996$619
16 years$1,759$1,489$1,255$1,053$881$526
17 years$1,638$1,371$1,142$946$781$449
18 years$1,531$1,267$1,042$853$694$383
19 years$1,435$1,174$954$770$619$328
20 years$1,349$1,091$876$698$553$281
21 years$1,272$1,016$805$633$495$241
22 years$1,201$949$742$576$443$207
23 years$1,137$887$685$524$398$178
24 years$1,078$831$634$478$358$154
25 years$1,024$780$587$437$322$132
26 years$974$733$544$399$290$114
27 years$928$690$506$366$261$98
28 years$885$650$470$335$236$85
29 years$845$613$437$307$213$73
30 years$808$579$407$282$192$63
31 years$774$548$380$259$174$55
32 years$741$518$354$238$157$47
33 years$711$491$331$219$142$41
34 years$683$465$309$201$129$35
35 years$656$441$289$185$117$30
36 years$631$419$270$171$106$26
37 years$607$398$253$157$96$23
38 years$584$378$237$145$87$20
39 years$563$359$222$134$79$17
40 years$543$342$208$123$72$15
41 years$524$325$195$114$65$13
42 years$505$310$183$105$59$11
43 years$488$295$172$97$53$9
44 years$472$282$161$89$49$8
45 years$456$268$151$83$44$7
46 years$441$256$142$76$40$6
47 years$427$244$134$70$36$5
48 years$413$233$126$65$33$5
49 years$400$223$118$60$30$4
50 years$388$213$111$56$27$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $397,000, adding $2,890 every year, while hoping to spend $22,320 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: 38/46/16 Blend
59$397,000$397,000$397,000$397,000
60$440,475$419,434$413,281$454,988
61$461,655$416,238$403,377$462,460
62$484,248$412,137$392,394$468,175
63$508,373$407,064$380,271$473,877
64$534,163$400,946$366,946$479,574
65$561,763$393,708$352,354$485,281
66$591,331$385,267$336,426$491,012
67$623,041$375,540$319,091$496,789
68$657,085$364,435$300,274$502,635
69$693,671$351,856$279,897$508,579
70$733,031$337,703$257,879$514,655
71$775,417$321,867$234,134$520,902
72$821,105$304,234$208,574$527,368
73$870,402$284,686$181,106$534,107
74$923,642$263,094$151,631$541,181
75$981,193$239,325$120,050$548,664
76$1,043,459$213,237$86,256$556,638
77$1,110,885$184,678$50,139$565,200
78$1,183,960$153,492$11,583$574,458
79$1,263,221$119,510$0$584,538
80$1,349,259$82,556$0$600,627
81$1,442,724$42,442$0$620,277
82$1,544,332$0$0$641,713
83$1,654,870$0$0$665,684
84$1,775,202$0$0$715,214
85$1,906,281$0$0$769,217
86$2,049,156$0$0$828,132
87$2,204,979$0$0$892,441
88$2,375,021$0$0$962,674
89$2,560,679$0$0$1,039,415
90$2,763,492$0$0$1,123,309
91$2,985,152$0$0$1,215,063
92$3,227,526$0$0$1,315,456
93$3,492,664$0$0$1,425,349
94$3,782,829$0$0$1,545,685
95$4,100,508$0$0$1,677,506
96$4,448,444$0$0$1,821,960
97$4,829,654$0$0$1,980,308
98$5,247,463$0$0$2,153,941
99$5,705,531$0$0$2,344,392
100$6,207,892$0$0$2,553,348