Can I retire at age 60 with 462,000?

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 $462,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$38,152$37,812$37,480$37,157$36,841$36,517
2 years$18,887$18,535$18,194$17,864$17,543$17,217
3 years$12,466$12,113$11,773$11,445$11,130$10,811
4 years$9,256$8,904$8,568$8,246$7,938$7,629
5 years$7,331$6,981$6,649$6,334$6,034$5,737
6 years$6,048$5,701$5,373$5,065$4,775$4,488
7 years$5,132$4,787$4,465$4,164$3,883$3,608
8 years$4,445$4,104$3,787$3,493$3,221$2,958
9 years$3,911$3,573$3,262$2,975$2,713$2,461
10 years$3,484$3,149$2,844$2,565$2,312$2,071
11 years$3,135$2,804$2,503$2,232$1,988$1,758
12 years$2,845$2,516$2,222$1,958$1,723$1,504
13 years$2,599$2,274$1,985$1,729$1,502$1,294
14 years$2,388$2,067$1,783$1,534$1,317$1,119
15 years$2,206$1,888$1,610$1,368$1,160$972
16 years$2,047$1,733$1,460$1,225$1,025$847
17 years$1,906$1,596$1,328$1,101$909$740
18 years$1,782$1,474$1,213$992$808$648
19 years$1,670$1,366$1,110$896$720$569
20 years$1,570$1,270$1,019$812$643$501
21 years$1,480$1,183$937$737$576$441
22 years$1,398$1,104$864$670$516$390
23 years$1,323$1,033$798$610$463$344
24 years$1,254$967$738$557$416$305
25 years$1,191$908$683$508$375$270
26 years$1,133$853$634$465$337$239
27 years$1,079$803$588$425$304$212
28 years$1,030$757$547$390$274$188
29 years$983$714$509$357$248$167
30 years$940$674$474$328$224$148
31 years$900$637$442$301$202$132
32 years$863$603$412$277$183$117
33 years$827$571$385$255$166$104
34 years$794$541$360$234$150$93
35 years$763$513$336$216$136$83
36 years$734$487$315$199$123$74
37 years$706$463$294$183$112$66
38 years$680$440$276$169$101$58
39 years$655$418$258$156$92$52
40 years$632$398$242$143$83$46
41 years$609$379$227$132$76$41
42 years$588$361$213$122$69$37
43 years$568$344$200$113$62$33
44 years$549$328$188$104$56$29
45 years$531$312$176$96$51$26
46 years$513$298$165$89$47$23
47 years$497$284$155$82$42$21
48 years$481$272$146$76$38$18
49 years$466$259$137$70$35$16
50 years$451$248$129$65$32$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $462,000, adding $4,615 every year, while hoping to spend $28,372 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: 48/22/30 Blend
59$462,000$462,000$462,000$462,000
60$513,884$489,398$482,237$533,953
61$536,113$483,191$468,205$542,367
62$559,658$475,729$452,751$548,374
63$584,624$466,921$435,799$554,360
64$611,124$456,669$417,267$560,336
65$639,284$444,871$397,071$566,320
66$669,240$431,418$375,121$572,330
67$701,141$416,196$351,326$578,391
68$735,150$399,082$325,589$584,532
69$771,447$379,949$297,807$590,784
70$810,227$358,659$267,877$597,189
71$851,706$335,069$235,686$603,793
72$896,119$309,026$201,121$610,649
73$943,725$280,370$164,060$617,820
74$994,806$248,930$124,378$625,377
75$1,049,676$214,527$81,943$633,404
76$1,108,673$176,969$36,619$641,993
77$1,172,174$136,057$0$651,254
78$1,240,591$91,579$0$665,069
79$1,314,375$43,310$0$692,572
80$1,394,023$0$0$722,234
81$1,480,081$0$0$756,463
82$1,573,149$0$0$804,859
83$1,673,886$0$0$857,286
84$1,783,016$0$0$914,126
85$1,901,338$0$0$975,799
86$2,029,726$0$0$1,042,768
87$2,169,146$0$0$1,115,543
88$2,320,656$0$0$1,194,683
89$2,485,423$0$0$1,280,803
90$2,664,731$0$0$1,374,582
91$2,859,991$0$0$1,476,766
92$3,072,756$0$0$1,588,174
93$3,304,736$0$0$1,709,711
94$3,557,812$0$0$1,842,370
95$3,834,056$0$0$1,987,245
96$4,135,748$0$0$2,145,542
97$4,465,396$0$0$2,318,587
98$4,825,764$0$0$2,507,839
99$5,219,894$0$0$2,714,907
100$5,651,136$0$0$2,941,561