Can I retire at age 60 with 501,000?

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 $501,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$41,372$41,004$40,644$40,293$39,950$38,487
2 years$20,481$20,100$19,730$19,372$19,024$17,566
3 years$13,519$13,135$12,767$12,412$12,070$10,663
4 years$10,038$9,656$9,291$8,942$8,608$7,263
5 years$7,950$7,570$7,210$6,868$6,544$5,264
6 years$6,559$6,182$5,827$5,493$5,178$3,965
7 years$5,565$5,191$4,842$4,516$4,211$3,064
8 years$4,820$4,450$4,107$3,788$3,493$2,411
9 years$4,241$3,875$3,537$3,227$2,942$1,923
10 years$3,778$3,415$3,084$2,781$2,507$1,550
11 years$3,400$3,040$2,715$2,421$2,156$1,259
12 years$3,085$2,729$2,409$2,123$1,868$1,029
13 years$2,818$2,466$2,153$1,875$1,629$845
14 years$2,590$2,242$1,934$1,664$1,428$696
15 years$2,392$2,048$1,746$1,484$1,257$576
16 years$2,220$1,879$1,583$1,329$1,111$478
17 years$2,067$1,730$1,441$1,194$985$397
18 years$1,932$1,599$1,315$1,076$876$330
19 years$1,811$1,482$1,204$972$781$275
20 years$1,703$1,377$1,105$880$698$230
21 years$1,605$1,283$1,016$799$624$192
22 years$1,516$1,197$937$727$560$161
23 years$1,434$1,120$865$662$502$134
24 years$1,360$1,049$800$604$451$112
25 years$1,292$985$741$551$406$94
26 years$1,229$925$687$504$366$79
27 years$1,171$871$638$461$330$66
28 years$1,117$821$593$423$298$55
29 years$1,067$774$552$388$269$47
30 years$1,020$731$514$356$243$39
31 years$976$691$479$327$220$33
32 years$935$654$447$300$199$27
33 years$897$619$418$276$180$23
34 years$861$587$390$254$163$19
35 years$828$557$365$234$147$16
36 years$796$528$341$215$134$14
37 years$766$502$319$198$121$11
38 years$737$477$299$183$110$10
39 years$710$454$280$169$100$8
40 years$685$432$263$156$90$7
41 years$661$411$246$144$82$6
42 years$638$391$231$132$74$5
43 years$616$373$217$122$67$4
44 years$595$355$203$113$61$3
45 years$575$339$191$104$56$3
46 years$557$323$179$96$50$2
47 years$539$308$169$89$46$2
48 years$521$294$158$82$42$2
49 years$505$281$149$76$38$1
50 years$489$269$140$70$34$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $501,000, adding $4,487 every year, while hoping to spend $20,937 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: 49/22/29 Blend
59$501,000$501,000$501,000$501,000
60$556,730$530,177$522,412$579,226
61$591,240$533,879$517,636$599,180
62$628,568$537,061$511,998$618,430
63$668,980$539,674$505,448$638,942
64$712,767$541,669$497,931$660,847
65$760,250$542,992$489,393$684,287
66$811,782$543,585$479,774$709,423
67$867,750$543,388$469,013$736,432
68$928,583$542,336$457,047$765,511
69$994,748$540,360$443,808$796,876
70$1,066,763$537,389$429,226$830,770
71$1,145,196$533,344$413,228$867,459
72$1,230,672$528,143$395,738$907,240
73$1,323,879$521,702$376,674$950,439
74$1,425,576$513,926$355,954$997,421
75$1,536,596$504,719$333,489$1,048,585
76$1,657,856$493,978$309,188$1,104,378
77$1,790,367$481,593$282,956$1,165,290
78$1,935,242$467,449$254,693$1,231,865
79$2,093,706$451,422$224,294$1,304,706
80$2,267,106$433,384$191,650$1,384,479
81$2,456,928$413,197$156,648$1,471,919
82$2,664,808$390,717$119,168$1,567,840
83$2,892,545$365,788$79,087$1,673,142
84$3,142,123$338,250$36,274$1,788,821
85$3,415,725$307,931$0$1,915,974
86$3,715,759$274,649$0$2,058,730
87$4,044,871$238,212$0$2,227,686
88$4,405,982$198,418$0$2,413,135
89$4,802,305$155,053$0$2,616,762
90$5,237,380$107,891$0$2,840,427
91$5,715,109$56,693$0$3,086,180
92$6,239,786$1,208$0$3,356,282
93$6,816,145$0$0$3,653,227
94$7,449,399$0$0$3,994,009
95$8,145,293$0$0$4,368,879
96$8,910,154$0$0$4,780,962
97$9,750,952$0$0$5,234,021
98$10,675,369$0$0$5,732,202
99$11,691,866$0$0$6,280,073
100$12,809,765$0$0$6,882,667