Can I retire at age 60 with 497,000?

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 $497,000?

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$41,042$40,676$40,320$39,971$39,631$39,365
2 years$20,318$19,939$19,573$19,217$18,872$18,604
3 years$13,411$13,031$12,665$12,313$11,973$11,711
4 years$9,958$9,579$9,217$8,870$8,539$8,285
5 years$7,887$7,510$7,153$6,813$6,492$6,246
6 years$6,506$6,132$5,780$5,449$5,137$4,900
7 years$5,521$5,150$4,803$4,480$4,177$3,950
8 years$4,782$4,415$4,074$3,758$3,466$3,248
9 years$4,207$3,844$3,509$3,201$2,918$2,710
10 years$3,748$3,388$3,059$2,759$2,487$2,287
11 years$3,373$3,016$2,693$2,401$2,139$1,948
12 years$3,060$2,707$2,390$2,106$1,853$1,671
13 years$2,796$2,446$2,135$1,860$1,616$1,443
14 years$2,569$2,224$1,919$1,651$1,417$1,252
15 years$2,373$2,031$1,732$1,472$1,247$1,090
16 years$2,202$1,864$1,571$1,318$1,102$953
17 years$2,051$1,716$1,429$1,184$977$836
18 years$1,917$1,586$1,305$1,067$869$735
19 years$1,797$1,470$1,194$964$775$648
20 years$1,689$1,366$1,096$873$692$572
21 years$1,592$1,272$1,008$793$619$506
22 years$1,503$1,188$929$721$555$448
23 years$1,423$1,111$858$656$498$398
24 years$1,349$1,041$793$599$448$353
25 years$1,281$977$735$547$403$314
26 years$1,219$918$682$500$363$279
27 years$1,161$864$633$458$327$249
28 years$1,108$814$588$419$295$222
29 years$1,058$768$548$384$267$198
30 years$1,012$725$510$353$241$176
31 years$968$686$475$324$218$157
32 years$928$649$444$298$197$140
33 years$890$614$414$274$178$125
34 years$854$582$387$252$161$112
35 years$821$552$362$232$146$100
36 years$789$524$338$214$132$90
37 years$760$498$317$197$120$80
38 years$731$473$297$181$109$72
39 years$705$450$278$167$99$64
40 years$679$428$261$154$90$57
41 years$656$407$244$142$81$51
42 years$633$388$229$131$74$46
43 years$611$370$215$121$67$41
44 years$591$352$202$112$61$37
45 years$571$336$190$103$55$33
46 years$552$321$178$96$50$29
47 years$534$306$167$88$45$26
48 years$517$292$157$82$41$24
49 years$501$279$148$75$37$21
50 years$485$266$139$70$34$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $497,000, adding $6,976 every year, while hoping to spend $40,803 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: 36/47/17 Blend
59$497,000$497,000$497,000$497,000
60$554,890$528,549$520,845$571,765
61$568,074$511,034$494,879$567,110
62$581,236$491,293$466,676$557,734
63$594,330$469,174$436,118$546,746
64$607,305$444,516$403,080$534,027
65$620,102$417,149$367,435$519,447
66$632,656$386,893$329,048$502,867
67$644,893$353,557$287,778$484,140
68$656,732$316,941$243,478$463,108
69$668,079$276,832$195,995$439,603
70$678,830$233,004$145,168$413,445
71$688,871$185,221$90,831$384,441
72$698,071$133,232$32,809$352,387
73$706,286$76,772$0$317,061
74$713,354$15,561$0$283,511
75$719,097$0$0$252,897
76$723,314$0$0$245,248
77$725,784$0$0$244,914
78$726,260$0$0$243,748
79$724,468$0$0$241,639
80$720,102$0$0$238,466
81$712,826$0$0$234,092
82$702,265$0$0$228,368
83$688,004$0$0$221,128
84$669,583$0$0$212,188
85$646,492$0$0$201,343
86$618,166$0$0$188,369
87$583,983$0$0$173,017
88$543,249$0$0$155,009
89$495,201$0$0$134,041
90$438,994$0$0$109,777
91$373,691$0$0$81,842
92$298,260$0$0$49,825
93$211,559$0$0$13,271
94$112,324$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