Can I retire at age 60 with 496,000?

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 $496,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$40,959$40,594$40,238$39,891$39,552$39,122
2 years$20,277$19,899$19,533$19,178$18,834$18,402
3 years$13,384$13,004$12,639$12,288$11,949$11,527
4 years$9,938$9,560$9,198$8,853$8,522$8,114
5 years$7,871$7,495$7,138$6,800$6,478$6,085
6 years$6,493$6,120$5,769$5,438$5,126$4,748
7 years$5,510$5,140$4,794$4,471$4,169$3,807
8 years$4,772$4,406$4,066$3,750$3,459$3,112
9 years$4,199$3,836$3,502$3,194$2,913$2,581
10 years$3,741$3,381$3,053$2,754$2,482$2,166
11 years$3,366$3,010$2,688$2,397$2,134$1,833
12 years$3,054$2,702$2,385$2,102$1,850$1,563
13 years$2,790$2,441$2,131$1,856$1,613$1,340
14 years$2,564$2,219$1,915$1,647$1,414$1,155
15 years$2,368$2,027$1,729$1,469$1,245$1,000
16 years$2,197$1,860$1,567$1,315$1,100$868
17 years$2,047$1,713$1,426$1,182$976$756
18 years$1,913$1,583$1,302$1,065$867$660
19 years$1,793$1,467$1,192$962$773$578
20 years$1,686$1,363$1,094$872$691$506
21 years$1,589$1,270$1,006$791$618$445
22 years$1,500$1,185$927$719$554$391
23 years$1,420$1,109$856$655$497$344
24 years$1,346$1,039$792$597$447$303
25 years$1,279$975$733$546$402$267
26 years$1,216$916$680$499$362$236
27 years$1,159$862$632$457$327$209
28 years$1,105$812$587$418$295$184
29 years$1,056$766$546$384$266$163
30 years$1,010$724$509$352$240$144
31 years$966$684$475$323$217$128
32 years$926$647$443$297$197$113
33 years$888$613$413$273$178$100
34 years$853$581$386$251$161$89
35 years$819$551$361$231$146$79
36 years$788$523$338$213$132$70
37 years$758$497$316$196$120$62
38 years$730$472$296$181$109$55
39 years$703$449$277$167$99$49
40 years$678$427$260$154$89$43
41 years$654$407$244$142$81$38
42 years$631$387$229$131$74$34
43 years$610$369$215$121$67$30
44 years$589$352$201$112$61$27
45 years$570$335$189$103$55$24
46 years$551$320$178$95$50$21
47 years$533$305$167$88$45$19
48 years$516$291$157$81$41$17
49 years$500$278$147$75$37$15
50 years$484$266$139$70$34$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $496,000, adding $6,279 every year, while hoping to spend $23,930 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: 63/31/6 Blend
59$496,000$496,000$496,000$496,000
60$553,069$526,781$519,093$586,939
61$584,020$527,132$511,021$610,643
62$617,327$526,698$501,877$633,123
63$653,204$525,415$491,599$657,044
64$691,887$523,217$480,124$682,543
65$733,635$520,030$467,384$709,772
66$778,733$515,779$453,309$738,901
67$827,495$510,384$437,826$770,116
68$880,265$503,758$420,858$803,624
69$937,421$495,810$402,325$839,653
70$999,378$486,446$382,144$878,454
71$1,066,596$475,562$360,226$920,309
72$1,139,575$463,052$336,481$965,524
73$1,218,871$448,800$310,812$1,014,441
74$1,305,090$432,686$283,119$1,067,438
75$1,398,904$414,582$253,298$1,124,930
76$1,501,049$394,354$221,240$1,187,380
77$1,612,336$371,857$186,831$1,255,296
78$1,733,656$346,940$149,952$1,329,242
79$1,865,993$319,443$110,479$1,409,839
80$2,010,426$289,198$68,282$1,497,775
81$2,168,145$256,024$23,225$1,593,810
82$2,340,460$219,734$0$1,698,781
83$2,528,813$180,127$0$1,815,209
84$2,734,792$136,993$0$1,944,216
85$2,960,143$90,108$0$2,085,454
86$3,206,792$39,238$0$2,240,183
87$3,476,858$0$0$2,409,793
88$3,772,674$0$0$2,601,232
89$4,096,811$0$0$2,825,701
90$4,452,098$0$0$3,071,778
91$4,841,652$0$0$3,341,627
92$5,268,908$0$0$3,637,632
93$5,737,646$0$0$3,962,417
94$6,252,032$0$0$4,318,873
95$6,816,653$0$0$4,710,184
96$7,436,563$0$0$5,139,859
97$8,117,330$0$0$5,611,762
98$8,865,085$0$0$6,130,149
99$9,686,584$0$0$6,699,711
100$10,589,270$0$0$7,325,613