Can I retire at age 60 with 492,000?

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 $492,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$40,629$40,267$39,914$39,569$39,233$38,710
2 years$20,113$19,739$19,376$19,024$18,682$18,157
3 years$13,276$12,899$12,537$12,189$11,853$11,341
4 years$9,858$9,482$9,124$8,781$8,454$7,959
5 years$7,807$7,434$7,081$6,745$6,426$5,950
6 years$6,441$6,071$5,722$5,394$5,085$4,628
7 years$5,465$5,098$4,755$4,435$4,135$3,698
8 years$4,734$4,370$4,033$3,720$3,431$3,012
9 years$4,165$3,805$3,473$3,169$2,889$2,490
10 years$3,710$3,354$3,028$2,731$2,462$2,081
11 years$3,339$2,986$2,666$2,377$2,117$1,755
12 years$3,029$2,680$2,366$2,085$1,835$1,491
13 years$2,768$2,422$2,114$1,841$1,600$1,274
14 years$2,543$2,201$1,899$1,634$1,402$1,093
15 years$2,349$2,011$1,715$1,457$1,235$942
16 years$2,180$1,845$1,555$1,305$1,091$815
17 years$2,030$1,699$1,415$1,172$968$707
18 years$1,897$1,570$1,291$1,057$860$614
19 years$1,779$1,455$1,182$955$767$535
20 years$1,672$1,352$1,085$865$685$467
21 years$1,576$1,260$998$785$613$408
22 years$1,488$1,176$920$714$549$357
23 years$1,409$1,100$849$650$493$313
24 years$1,336$1,030$785$593$443$275
25 years$1,268$967$727$541$399$241
26 years$1,207$909$675$495$359$212
27 years$1,150$855$627$453$324$186
28 years$1,097$806$582$415$292$164
29 years$1,047$760$542$381$264$144
30 years$1,001$718$505$349$239$127
31 years$959$679$471$321$216$112
32 years$919$642$439$295$195$99
33 years$881$608$410$271$177$87
34 years$846$576$383$249$160$77
35 years$813$547$358$230$145$68
36 years$781$519$335$211$131$60
37 years$752$493$314$195$119$53
38 years$724$468$294$180$108$46
39 years$698$445$275$166$98$41
40 years$673$424$258$153$89$36
41 years$649$403$242$141$80$32
42 years$626$384$227$130$73$28
43 years$605$366$213$120$66$25
44 years$585$349$200$111$60$22
45 years$565$333$188$102$55$19
46 years$547$317$176$95$50$17
47 years$529$303$166$87$45$15
48 years$512$289$156$81$41$13
49 years$496$276$146$75$37$12
50 years$480$264$137$69$34$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $492,000, adding $6,708 every year, while hoping to spend $32,994 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: 56/22/22 Blend
59$492,000$492,000$492,000$492,000
60$549,103$523,027$515,401$576,233
61$570,006$513,550$497,562$586,053
62$591,936$502,503$478,019$592,676
63$614,962$489,774$456,681$599,182
64$639,159$475,244$433,451$605,569
65$664,611$458,789$408,230$611,835
66$691,408$440,276$380,912$617,982
67$719,646$419,564$351,387$624,013
68$749,433$396,506$319,541$629,933
69$780,884$370,943$285,255$635,750
70$814,126$342,711$248,402$641,476
71$849,296$311,634$208,853$647,127
72$886,546$277,526$166,472$652,720
73$926,040$240,191$121,115$658,281
74$967,959$199,422$72,634$663,839
75$1,012,497$155,001$20,875$669,429
76$1,059,872$106,696$0$675,094
77$1,110,318$54,263$0$688,952
78$1,164,094$0$0$708,749
79$1,221,480$0$0$730,310
80$1,282,788$0$0$767,404
81$1,348,356$0$0$807,104
82$1,418,555$0$0$849,638
83$1,493,794$0$0$895,258
84$1,574,519$0$0$944,237
85$1,661,222$0$0$996,879
86$1,754,440$0$0$1,053,515
87$1,854,766$0$0$1,114,508
88$1,962,848$0$0$1,180,260
89$2,079,399$0$0$1,251,208
90$2,205,204$0$0$1,327,835
91$2,341,122$0$0$1,410,672
92$2,488,101$0$0$1,500,302
93$2,647,178$0$0$1,597,365
94$2,819,499$0$0$1,702,565
95$3,006,319$0$0$1,816,677
96$3,209,020$0$0$1,940,553
97$3,429,122$0$0$2,075,129
98$3,668,298$0$0$2,221,435
99$3,928,386$0$0$2,380,607
100$4,211,409$0$0$2,553,890