Can I retire at age 60 with 488,000?

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 $488,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$40,299$39,940$39,589$39,248$38,914$38,636
2 years$19,950$19,578$19,218$18,869$18,530$18,250
3 years$13,168$12,795$12,435$12,090$11,756$11,483
4 years$9,777$9,405$9,050$8,710$8,385$8,120
5 years$7,744$7,374$7,023$6,690$6,374$6,118
6 years$6,388$6,021$5,676$5,350$5,044$4,797
7 years$5,421$5,057$4,716$4,399$4,102$3,865
8 years$4,695$4,335$4,000$3,690$3,403$3,176
9 years$4,131$3,774$3,445$3,143$2,866$2,648
10 years$3,680$3,327$3,004$2,709$2,442$2,234
11 years$3,312$2,961$2,644$2,358$2,100$1,901
12 years$3,005$2,658$2,347$2,068$1,820$1,630
13 years$2,745$2,402$2,097$1,826$1,587$1,406
14 years$2,523$2,183$1,884$1,621$1,391$1,219
15 years$2,330$1,995$1,701$1,445$1,225$1,062
16 years$2,162$1,830$1,542$1,294$1,082$928
17 years$2,014$1,685$1,403$1,163$960$813
18 years$1,882$1,557$1,281$1,048$853$714
19 years$1,764$1,443$1,173$947$761$629
20 years$1,659$1,341$1,076$858$679$555
21 years$1,563$1,249$990$778$608$491
22 years$1,476$1,166$912$708$545$434
23 years$1,397$1,091$842$645$489$385
24 years$1,325$1,022$779$588$440$342
25 years$1,258$959$722$537$396$303
26 years$1,197$901$669$491$356$270
27 years$1,140$848$621$449$321$240
28 years$1,088$799$578$412$290$214
29 years$1,039$754$538$378$262$190
30 years$993$712$501$346$237$170
31 years$951$673$467$318$214$151
32 years$911$637$436$292$193$135
33 years$874$603$407$269$175$120
34 years$839$572$380$247$159$108
35 years$806$542$355$228$144$96
36 years$775$515$332$210$130$86
37 years$746$489$311$193$118$77
38 years$718$465$291$178$107$69
39 years$692$442$273$164$97$61
40 years$667$420$256$152$88$55
41 years$644$400$240$140$80$49
42 years$621$381$225$129$72$44
43 years$600$363$211$119$66$39
44 years$580$346$198$110$60$35
45 years$561$330$186$102$54$31
46 years$542$315$175$94$49$28
47 years$525$300$164$87$45$25
48 years$508$287$154$80$41$22
49 years$492$274$145$74$37$20
50 years$476$262$136$68$33$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $488,000, adding $2,040 every year, while hoping to spend $25,680 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: 59/34/7 Blend
59$488,000$488,000$488,000$488,000
60$539,880$514,016$506,452$570,821
61$567,625$511,880$496,095$589,679
62$597,338$508,778$484,530$607,123
63$629,195$504,636$471,690$625,500
64$663,386$499,376$457,504$644,900
65$700,119$492,913$441,899$665,424
66$739,624$485,159$424,796$687,184
67$782,154$476,020$406,115$710,305
68$827,986$465,397$385,771$734,925
69$877,423$453,184$363,677$761,198
70$930,799$439,269$339,739$789,295
71$988,482$423,535$313,862$819,406
72$1,050,875$405,856$285,944$851,740
73$1,118,421$386,100$255,881$886,532
74$1,191,609$364,127$223,561$924,041
75$1,270,973$339,790$188,871$964,555
76$1,357,104$312,931$151,690$1,008,391
77$1,450,650$283,386$111,892$1,055,905
78$1,552,324$250,980$69,348$1,107,487
79$1,662,910$215,527$23,921$1,163,573
80$1,783,272$176,833$0$1,224,643
81$1,914,360$134,691$0$1,293,065
82$2,057,218$88,885$0$1,369,622
83$2,212,996$39,182$0$1,453,190
84$2,382,961$0$0$1,544,507
85$2,568,507$0$0$1,649,871
86$2,771,166$0$0$1,781,002
87$2,992,627$0$0$1,924,338
88$3,234,750$0$0$2,081,087
89$3,499,581$0$0$2,252,579
90$3,789,373$0$0$2,440,279
91$4,106,609$0$0$2,645,799
92$4,454,020$0$0$2,870,916
93$4,834,616$0$0$3,117,584
94$5,251,712$0$0$3,387,959
95$5,708,955$0$0$3,684,412
96$6,210,367$0$0$4,009,556
97$6,760,375$0$0$4,366,268
98$7,363,854$0$0$4,757,719
99$8,026,177$0$0$5,187,399
100$8,753,261$0$0$5,659,156