Can I retire at age 60 with 502,000?

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 $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%19.2%
1 years$41,455$41,085$40,725$40,374$40,030$38,549
2 years$20,522$20,140$19,770$19,410$19,062$17,586
3 years$13,546$13,162$12,792$12,436$12,094$10,670
4 years$10,058$9,675$9,309$8,960$8,625$7,264
5 years$7,966$7,585$7,224$6,882$6,557$5,262
6 years$6,572$6,194$5,838$5,504$5,188$3,961
7 years$5,576$5,202$4,852$4,525$4,219$3,059
8 years$4,830$4,459$4,115$3,796$3,500$2,406
9 years$4,250$3,882$3,544$3,233$2,948$1,918
10 years$3,786$3,422$3,090$2,787$2,512$1,545
11 years$3,407$3,046$2,720$2,425$2,160$1,254
12 years$3,091$2,734$2,414$2,127$1,872$1,024
13 years$2,824$2,471$2,157$1,878$1,632$840
14 years$2,595$2,246$1,938$1,667$1,431$692
15 years$2,397$2,052$1,750$1,487$1,260$572
16 years$2,224$1,883$1,586$1,331$1,114$474
17 years$2,071$1,734$1,443$1,196$987$394
18 years$1,936$1,602$1,318$1,078$878$327
19 years$1,815$1,485$1,206$974$782$273
20 years$1,706$1,380$1,107$882$699$227
21 years$1,608$1,285$1,018$801$625$190
22 years$1,519$1,200$939$728$561$159
23 years$1,437$1,122$867$663$503$133
24 years$1,363$1,051$801$605$452$111
25 years$1,294$987$742$552$407$93
26 years$1,231$927$688$505$367$78
27 years$1,173$873$639$462$331$65
28 years$1,119$822$594$423$298$55
29 years$1,069$776$553$388$269$46
30 years$1,022$733$515$356$243$38
31 years$978$693$480$327$220$32
32 years$937$655$448$301$199$27
33 years$899$621$418$277$180$23
34 years$863$588$391$255$163$19
35 years$829$558$365$234$148$16
36 years$797$529$342$216$134$13
37 years$767$503$320$199$121$11
38 years$739$478$300$183$110$9
39 years$712$454$281$169$100$8
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$3
45 years$577$339$191$104$56$3
46 years$558$324$180$96$51$2
47 years$540$309$169$89$46$2
48 years$522$295$159$82$42$2
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 $3,016 every year, while hoping to spend $21,155 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: 49/46/5 Blend
59$502,000$502,000$502,000$502,000
60$556,315$529,709$521,928$582,745
61$590,550$533,156$516,904$604,536
62$627,569$536,063$511,002$625,675
63$667,632$538,381$504,172$648,128
64$711,026$540,058$496,358$672,022
65$758,069$541,039$487,504$697,498
66$809,108$541,266$477,551$724,712
67$864,525$540,675$466,437$753,838
68$924,740$539,202$454,096$785,068
69$990,216$536,776$440,461$818,614
70$1,061,462$533,322$425,461$854,711
71$1,139,038$528,761$409,020$893,620
72$1,223,560$523,010$391,062$935,628
73$1,315,706$515,980$371,505$981,056
74$1,416,221$507,577$350,265$1,030,257
75$1,525,929$497,701$327,251$1,083,620
76$1,645,732$486,247$302,372$1,141,580
77$1,776,625$473,102$275,531$1,204,614
78$1,919,706$458,148$246,626$1,273,251
79$2,076,179$441,261$215,551$1,348,078
80$2,247,373$422,307$182,196$1,429,742
81$2,434,752$401,146$146,446$1,518,959
82$2,639,924$377,630$108,180$1,616,521
83$2,864,664$351,602$67,271$1,723,303
84$3,110,925$322,895$23,590$1,840,274
85$3,380,857$291,335$0$1,968,503
86$3,676,830$256,736$0$2,110,401
87$4,001,453$218,902$0$2,267,469
88$4,357,599$177,626$0$2,439,899
89$4,748,434$132,690$0$2,629,295
90$5,177,444$83,862$0$2,837,429
91$5,648,471$30,898$0$3,066,256
92$6,165,744$0$0$3,317,937
93$6,733,925$0$0$3,608,250
94$7,358,148$0$0$3,944,438
95$8,044,068$0$0$4,313,914
96$8,797,917$0$0$4,720,041
97$9,626,559$0$0$5,166,525
98$10,537,557$0$0$5,657,450
99$11,539,243$0$0$6,197,313
100$12,640,797$0$0$6,791,070