Can I retire at age 60 with 493,000?

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 $493,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$40,711$40,349$39,995$39,650$39,313$39,130
2 years$20,154$19,779$19,415$19,062$18,720$18,536
3 years$13,303$12,926$12,563$12,213$11,877$11,697
4 years$9,878$9,502$9,143$8,799$8,471$8,296
5 years$7,823$7,449$7,095$6,759$6,439$6,271
6 years$6,454$6,083$5,734$5,405$5,095$4,933
7 years$5,476$5,109$4,765$4,444$4,144$3,987
8 years$4,743$4,379$4,041$3,728$3,438$3,288
9 years$4,174$3,813$3,480$3,175$2,895$2,751
10 years$3,718$3,361$3,034$2,737$2,467$2,329
11 years$3,346$2,992$2,671$2,382$2,121$1,990
12 years$3,035$2,685$2,371$2,089$1,838$1,712
13 years$2,773$2,427$2,118$1,845$1,603$1,483
14 years$2,549$2,206$1,903$1,637$1,405$1,291
15 years$2,354$2,015$1,718$1,460$1,237$1,128
16 years$2,184$1,849$1,558$1,308$1,094$990
17 years$2,034$1,703$1,418$1,175$970$871
18 years$1,901$1,573$1,294$1,059$862$769
19 years$1,782$1,458$1,185$957$768$680
20 years$1,676$1,355$1,087$866$686$603
21 years$1,579$1,262$1,000$786$614$535
22 years$1,491$1,178$922$715$551$476
23 years$1,411$1,102$851$651$494$423
24 years$1,338$1,032$787$594$444$377
25 years$1,271$969$729$542$400$337
26 years$1,209$911$676$496$360$301
27 years$1,152$857$628$454$325$269
28 years$1,099$808$584$416$293$241
29 years$1,049$762$543$381$264$215
30 years$1,004$719$506$350$239$193
31 years$961$680$472$321$216$173
32 years$921$644$440$295$195$155
33 years$883$609$411$272$177$139
34 years$848$578$384$250$160$125
35 years$814$548$359$230$145$112
36 years$783$520$336$212$131$100
37 years$753$494$314$195$119$90
38 years$726$469$294$180$108$81
39 years$699$446$276$166$98$73
40 years$674$425$258$153$89$65
41 years$650$404$242$141$81$59
42 years$628$385$227$130$73$53
43 years$606$367$213$120$66$48
44 years$586$350$200$111$60$43
45 years$566$333$188$103$55$38
46 years$548$318$177$95$50$35
47 years$530$303$166$88$45$31
48 years$513$290$156$81$41$28
49 years$497$277$147$75$37$25
50 years$481$264$138$69$34$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $493,000, adding $4,490 every year, while hoping to spend $26,755 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: 38/40/22 Blend
59$493,000$493,000$493,000$493,000
60$547,917$521,788$514,147$564,985
61$575,338$518,889$502,904$574,871
62$604,659$514,951$490,387$582,710
63$636,045$509,894$476,526$590,641
64$669,679$503,636$461,247$598,688
65$705,759$496,088$444,472$606,880
66$744,504$487,154$426,119$615,250
67$786,154$476,735$406,105$623,838
68$830,972$464,725$384,340$632,689
69$879,248$451,013$360,732$641,857
70$931,299$435,480$335,184$651,402
71$987,473$418,001$307,594$661,396
72$1,048,154$398,442$277,858$671,919
73$1,113,763$376,663$245,864$683,064
74$1,184,764$352,516$211,497$694,936
75$1,261,664$325,844$174,637$707,654
76$1,345,025$296,481$135,157$721,356
77$1,435,460$264,251$92,928$736,195
78$1,533,646$228,969$47,810$752,346
79$1,640,329$190,439$0$770,005
80$1,756,325$148,454$0$789,475
81$1,882,537$102,795$0$822,908
82$2,019,956$53,231$0$859,387
83$2,169,671$0$0$899,266
84$2,332,882$0$0$943,151
85$2,510,912$0$0$1,016,639
86$2,705,213$0$0$1,096,907
87$2,917,385$0$0$1,184,625
88$3,149,191$0$0$1,280,528
89$3,402,569$0$0$1,385,429
90$3,679,654$0$0$1,500,219
91$3,982,798$0$0$1,625,882
92$4,314,590$0$0$1,763,502
93$4,677,878$0$0$1,914,269
94$5,075,803$0$0$2,079,498
95$5,511,821$0$0$2,260,634
96$5,989,738$0$0$2,459,271
97$6,513,748$0$0$2,677,162
98$7,088,469$0$0$2,916,240
99$7,718,986$0$0$3,178,634
100$8,410,901$0$0$3,466,687