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%18.9%
1 years$41,455$41,085$40,725$40,374$40,030$38,595
2 years$20,522$20,140$19,770$19,410$19,062$17,631
3 years$13,546$13,162$12,792$12,436$12,094$10,713
4 years$10,058$9,675$9,309$8,960$8,625$7,305
5 years$7,966$7,585$7,224$6,882$6,557$5,300
6 years$6,572$6,194$5,838$5,504$5,188$3,996
7 years$5,576$5,202$4,852$4,525$4,219$3,092
8 years$4,830$4,459$4,115$3,796$3,500$2,436
9 years$4,250$3,882$3,544$3,233$2,948$1,945
10 years$3,786$3,422$3,090$2,787$2,512$1,570
11 years$3,407$3,046$2,720$2,425$2,160$1,277
12 years$3,091$2,734$2,414$2,127$1,872$1,045
13 years$2,824$2,471$2,157$1,878$1,632$859
14 years$2,595$2,246$1,938$1,667$1,431$709
15 years$2,397$2,052$1,750$1,487$1,260$587
16 years$2,224$1,883$1,586$1,331$1,114$488
17 years$2,071$1,734$1,443$1,196$987$406
18 years$1,936$1,602$1,318$1,078$878$338
19 years$1,815$1,485$1,206$974$782$283
20 years$1,706$1,380$1,107$882$699$236
21 years$1,608$1,285$1,018$801$625$198
22 years$1,519$1,200$939$728$561$165
23 years$1,437$1,122$867$663$503$139
24 years$1,363$1,051$801$605$452$116
25 years$1,294$987$742$552$407$98
26 years$1,231$927$688$505$367$82
27 years$1,173$873$639$462$331$69
28 years$1,119$822$594$423$298$58
29 years$1,069$776$553$388$269$48
30 years$1,022$733$515$356$243$41
31 years$978$693$480$327$220$34
32 years$937$655$448$301$199$29
33 years$899$621$418$277$180$24
34 years$863$588$391$255$163$20
35 years$829$558$365$234$148$17
36 years$797$529$342$216$134$14
37 years$767$503$320$199$121$12
38 years$739$478$300$183$110$10
39 years$712$454$281$169$100$9
40 years$686$432$263$156$90$7
41 years$662$412$247$144$82$6
42 years$639$392$231$133$74$5
43 years$617$373$217$122$68$4
44 years$596$356$204$113$61$4
45 years$577$339$191$104$56$3
46 years$558$324$180$96$51$3
47 years$540$309$169$89$46$2
48 years$522$295$159$82$42$2
49 years$506$282$149$76$38$2
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 $2,888 every year, while hoping to spend $38,961 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: 39/49/12 Blend
59$502,000$502,000$502,000$502,000
60$556,183$529,577$521,796$575,755
61$571,459$514,072$497,822$574,391
62$586,988$496,502$471,739$568,887
63$602,754$476,723$443,435$562,078
64$618,739$454,586$412,794$553,863
65$634,921$429,932$379,693$544,137
66$651,275$402,591$344,005$532,786
67$667,772$372,385$305,597$519,691
68$684,380$339,126$264,329$504,722
69$701,058$302,616$220,056$487,742
70$717,765$262,642$172,626$468,607
71$734,449$218,984$121,882$447,161
72$751,055$171,406$67,657$423,238
73$767,518$119,660$9,778$396,661
74$783,765$63,484$0$367,244
75$799,715$2,601$0$341,441
76$815,276$0$0$314,152
77$830,346$0$0$318,040
78$844,807$0$0$323,033
79$858,532$0$0$327,670
80$871,374$0$0$331,888
81$883,172$0$0$335,616
82$893,745$0$0$338,776
83$902,893$0$0$341,279
84$910,389$0$0$343,028
85$915,986$0$0$343,913
86$919,405$0$0$343,815
87$920,337$0$0$342,599
88$918,440$0$0$340,116
89$913,332$0$0$336,200
90$904,591$0$0$330,669
91$891,749$0$0$323,320
92$874,286$0$0$313,927
93$851,627$0$0$302,241
94$823,133$0$0$287,986
95$788,099$0$0$270,857
96$745,744$0$0$250,516
97$695,202$0$0$226,590
98$635,516$0$0$198,664
99$565,629$0$0$166,282
100$484,370$0$0$128,939