Can I retire at age 60 with 487,000?

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 $487,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$40,216$39,858$39,508$39,167$38,834$38,573
2 years$19,909$19,538$19,179$18,830$18,492$18,229
3 years$13,141$12,768$12,410$12,065$11,732$11,475
4 years$9,757$9,386$9,031$8,692$8,368$8,118
5 years$7,728$7,359$7,009$6,676$6,361$6,120
6 years$6,375$6,009$5,664$5,339$5,033$4,801
7 years$5,410$5,046$4,707$4,390$4,093$3,871
8 years$4,686$4,326$3,992$3,682$3,396$3,182
9 years$4,123$3,766$3,438$3,136$2,860$2,655
10 years$3,673$3,320$2,997$2,704$2,437$2,241
11 years$3,305$2,955$2,639$2,353$2,096$1,909
12 years$2,998$2,653$2,342$2,064$1,816$1,638
13 years$2,739$2,397$2,092$1,822$1,584$1,414
14 years$2,518$2,179$1,880$1,617$1,388$1,226
15 years$2,326$1,991$1,697$1,443$1,222$1,069
16 years$2,158$1,826$1,539$1,292$1,080$934
17 years$2,010$1,682$1,400$1,161$958$819
18 years$1,878$1,554$1,278$1,046$852$720
19 years$1,761$1,440$1,170$945$759$635
20 years$1,655$1,338$1,074$856$678$561
21 years$1,560$1,247$988$777$607$496
22 years$1,473$1,164$910$706$544$439
23 years$1,394$1,088$841$643$488$390
24 years$1,322$1,020$777$587$439$346
25 years$1,256$957$720$536$395$308
26 years$1,194$899$668$490$356$274
27 years$1,138$847$620$448$321$244
28 years$1,085$798$577$411$289$217
29 years$1,037$753$537$377$261$194
30 years$991$711$500$346$236$173
31 years$949$672$466$318$213$154
32 years$909$636$435$292$193$138
33 years$872$602$406$268$175$123
34 years$837$571$379$247$158$110
35 years$804$541$355$227$143$98
36 years$773$514$332$209$130$88
37 years$744$488$310$193$118$78
38 years$717$464$291$178$107$70
39 years$691$441$272$164$97$63
40 years$666$419$255$151$88$56
41 years$642$399$239$139$80$50
42 years$620$380$225$129$72$45
43 years$599$362$211$119$66$40
44 years$579$345$198$110$60$36
45 years$559$329$186$101$54$32
46 years$541$314$174$94$49$29
47 years$524$300$164$86$45$26
48 years$507$286$154$80$40$23
49 years$491$273$145$74$37$21
50 years$475$261$136$68$33$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $487,000, adding $2,374 every year, while hoping to spend $46,646 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: 38/32/30 Blend
59$487,000$487,000$487,000$487,000
60$539,123$513,312$505,763$554,726
61$544,482$488,833$473,075$541,977
62$548,825$461,592$437,729$523,792
63$551,998$431,403$399,586$503,265
64$553,832$398,071$358,502$480,213
65$554,136$361,390$314,325$454,442
66$552,702$321,142$266,899$425,740
67$549,296$277,096$216,059$393,883
68$543,660$229,009$161,632$358,627
69$535,506$176,624$103,439$319,711
70$524,516$119,667$41,293$276,851
71$510,339$57,853$0$229,743
72$492,584$0$0$186,070
73$470,819$0$0$155,306
74$444,566$0$0$142,994
75$413,296$0$0$128,539
76$376,422$0$0$111,695
77$333,298$0$0$92,189
78$283,207$0$0$69,721
79$225,358$0$0$43,956
80$158,876$0$0$14,529
81$82,795$0$0$0
82$0$0$0$0
83$0$0$0$0
84$0$0$0$0
85$0$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0