Can I retire at age 60 with 498,000?

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 $498,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$41,124$40,758$40,401$40,052$39,711$38,735
2 years$20,359$19,979$19,612$19,256$18,910$17,933
3 years$13,438$13,057$12,690$12,337$11,997$11,050
4 years$9,978$9,598$9,235$8,888$8,557$7,645
5 years$7,902$7,525$7,167$6,827$6,505$5,633
6 years$6,519$6,145$5,792$5,460$5,147$4,315
7 years$5,532$5,160$4,813$4,489$4,186$3,394
8 years$4,791$4,423$4,082$3,765$3,473$2,720
9 years$4,216$3,851$3,516$3,207$2,924$2,211
10 years$3,756$3,395$3,065$2,765$2,492$1,817
11 years$3,380$3,022$2,698$2,406$2,143$1,505
12 years$3,066$2,713$2,395$2,111$1,857$1,256
13 years$2,801$2,451$2,140$1,863$1,619$1,053
14 years$2,574$2,228$1,922$1,654$1,420$887
15 years$2,378$2,036$1,736$1,475$1,250$750
16 years$2,206$1,868$1,574$1,321$1,105$636
17 years$2,055$1,720$1,432$1,187$979$540
18 years$1,921$1,589$1,307$1,069$871$460
19 years$1,800$1,473$1,197$966$776$393
20 years$1,693$1,369$1,098$875$693$336
21 years$1,595$1,275$1,010$794$620$287
22 years$1,506$1,190$931$722$556$246
23 years$1,426$1,113$860$658$499$211
24 years$1,352$1,043$795$600$449$181
25 years$1,284$979$736$548$404$155
26 years$1,221$920$683$501$364$134
27 years$1,164$866$634$459$328$115
28 years$1,110$816$590$420$296$99
29 years$1,060$770$549$385$267$85
30 years$1,014$727$511$354$241$73
31 years$970$687$476$325$218$63
32 years$930$650$445$298$197$54
33 years$892$616$415$274$179$47
34 years$856$583$388$252$162$40
35 years$823$553$363$232$147$35
36 years$791$525$339$214$133$30
37 years$761$499$317$197$120$26
38 years$733$474$297$182$109$22
39 years$706$451$279$168$99$19
40 years$681$429$261$155$90$16
41 years$657$408$245$143$81$14
42 years$634$389$230$132$74$12
43 years$612$370$215$122$67$11
44 years$592$353$202$112$61$9
45 years$572$337$190$104$55$8
46 years$553$321$178$96$50$7
47 years$535$307$168$88$46$6
48 years$518$293$157$82$41$5
49 years$502$279$148$76$38$4
50 years$486$267$139$70$34$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $498,000, adding $3,416 every year, while hoping to spend $27,446 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: 59/17/24 Blend
59$498,000$498,000$498,000$498,000
60$552,320$525,926$518,207$581,162
61$579,454$522,494$506,364$597,760
62$608,436$517,974$493,205$612,604
63$639,425$512,283$478,657$628,202
64$672,597$505,335$462,642$644,633
65$708,143$497,037$445,081$661,985
66$746,272$487,292$425,890$680,358
67$787,217$475,994$404,983$699,861
68$831,230$463,035$382,267$720,617
69$878,590$448,298$357,647$742,762
70$929,602$431,659$331,023$766,448
71$984,600$412,990$302,292$791,845
72$1,043,954$392,151$271,343$819,139
73$1,108,069$368,998$238,064$848,540
74$1,177,388$343,375$202,336$880,281
75$1,252,401$315,120$164,034$914,619
76$1,333,646$284,061$123,029$951,842
77$1,421,712$250,014$79,185$992,267
78$1,517,251$212,789$32,362$1,036,247
79$1,620,976$172,181$0$1,084,176
80$1,733,674$127,976$0$1,140,994
81$1,856,208$79,947$0$1,211,814
82$1,989,531$27,853$0$1,288,915
83$2,134,688$0$0$1,372,931
84$2,292,831$0$0$1,469,905
85$2,465,227$0$0$1,581,337
86$2,653,272$0$0$1,702,923
87$2,858,500$0$0$1,835,659
88$3,082,600$0$0$1,980,644
89$3,327,434$0$0$2,139,087
90$3,595,049$0$0$2,312,318
91$3,887,699$0$0$2,501,802
92$4,207,867$0$0$2,709,153
93$4,558,287$0$0$2,936,147
94$4,941,967$0$0$3,184,740
95$5,362,223$0$0$3,457,087
96$5,822,705$0$0$3,755,559
97$6,327,432$0$0$4,082,770
98$6,880,832$0$0$4,441,597
99$7,487,781$0$0$4,835,209
100$8,153,649$0$0$5,267,097