Can I retire at age 60 with 502,000?

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 $502,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$41,455$41,085$40,725$40,374$40,030$38,442
2 years$20,522$20,140$19,770$19,410$19,062$17,482
3 years$13,546$13,162$12,792$12,436$12,094$10,571
4 years$10,058$9,675$9,309$8,960$8,625$7,172
5 years$7,966$7,585$7,224$6,882$6,557$5,176
6 years$6,572$6,194$5,838$5,504$5,188$3,881
7 years$5,576$5,202$4,852$4,525$4,219$2,986
8 years$4,830$4,459$4,115$3,796$3,500$2,339
9 years$4,250$3,882$3,544$3,233$2,948$1,856
10 years$3,786$3,422$3,090$2,787$2,512$1,488
11 years$3,407$3,046$2,720$2,425$2,160$1,202
12 years$3,091$2,734$2,414$2,127$1,872$977
13 years$2,824$2,471$2,157$1,878$1,632$798
14 years$2,595$2,246$1,938$1,667$1,431$654
15 years$2,397$2,052$1,750$1,487$1,260$538
16 years$2,224$1,883$1,586$1,331$1,114$444
17 years$2,071$1,734$1,443$1,196$987$366
18 years$1,936$1,602$1,318$1,078$878$303
19 years$1,815$1,485$1,206$974$782$251
20 years$1,706$1,380$1,107$882$699$208
21 years$1,608$1,285$1,018$801$625$173
22 years$1,519$1,200$939$728$561$144
23 years$1,437$1,122$867$663$503$120
24 years$1,363$1,051$801$605$452$99
25 years$1,294$987$742$552$407$83
26 years$1,231$927$688$505$367$69
27 years$1,173$873$639$462$331$57
28 years$1,119$822$594$423$298$48
29 years$1,069$776$553$388$269$40
30 years$1,022$733$515$356$243$33
31 years$978$693$480$327$220$28
32 years$937$655$448$301$199$23
33 years$899$621$418$277$180$19
34 years$863$588$391$255$163$16
35 years$829$558$365$234$148$13
36 years$797$529$342$216$134$11
37 years$767$503$320$199$121$9
38 years$739$478$300$183$110$8
39 years$712$454$281$169$100$6
40 years$686$432$263$156$90$5
41 years$662$412$247$144$82$4
42 years$639$392$231$133$74$4
43 years$617$373$217$122$68$3
44 years$596$356$204$113$61$3
45 years$577$339$191$104$56$2
46 years$558$324$180$96$51$2
47 years$540$309$169$89$46$2
48 years$522$295$159$82$42$1
49 years$506$282$149$76$38$1
50 years$490$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 $502,000, adding $2,175 every year, while hoping to spend $29,650 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: 52/39/9 Blend
59$502,000$502,000$502,000$502,000
60$555,448$528,842$521,061$582,946
61$580,556$523,207$506,969$596,258
62$607,231$516,303$491,411$607,347
63$635,603$508,036$474,307$618,709
64$665,811$498,306$455,573$630,376
65$698,009$487,009$435,120$642,385
66$732,367$474,034$412,858$654,779
67$769,069$459,262$388,689$667,606
68$808,318$442,569$362,514$680,923
69$850,335$423,824$334,227$694,793
70$895,364$402,886$303,718$709,289
71$943,673$379,609$270,874$724,493
72$995,554$353,836$235,575$740,497
73$1,051,329$325,403$197,695$757,408
74$1,111,351$294,134$157,105$775,344
75$1,176,009$259,847$113,668$794,439
76$1,245,727$222,345$67,241$814,845
77$1,320,974$181,423$17,677$836,732
78$1,402,265$136,863$0$860,291
79$1,490,163$88,437$0$889,119
80$1,585,290$35,901$0$922,107
81$1,688,329$0$0$957,841
82$1,800,030$0$0$1,005,654
83$1,921,218$0$0$1,074,286
84$2,052,802$0$0$1,148,850
85$2,195,779$0$0$1,229,915
86$2,351,248$0$0$1,318,112
87$2,520,417$0$0$1,414,132
88$2,704,616$0$0$1,518,734
89$2,905,307$0$0$1,632,758
90$3,124,100$0$0$1,757,124
91$3,362,767$0$0$1,892,847
92$3,623,259$0$0$2,041,044
93$3,907,722$0$0$2,202,942
94$4,218,519$0$0$2,379,897
95$4,558,252$0$0$2,573,397
96$4,929,785$0$0$2,785,082
97$5,336,272$0$0$3,016,759
98$5,781,186$0$0$3,270,417
99$6,268,350$0$0$3,548,245
100$6,801,976$0$0$3,852,655