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%13.3%
1 years$41,455$41,085$40,725$40,374$40,030$39,481
2 years$20,522$20,140$19,770$19,410$19,062$18,510
3 years$13,546$13,162$12,792$12,436$12,094$11,555
4 years$10,058$9,675$9,309$8,960$8,625$8,105
5 years$7,966$7,585$7,224$6,882$6,557$6,056
6 years$6,572$6,194$5,838$5,504$5,188$4,708
7 years$5,576$5,202$4,852$4,525$4,219$3,760
8 years$4,830$4,459$4,115$3,796$3,500$3,061
9 years$4,250$3,882$3,544$3,233$2,948$2,529
10 years$3,786$3,422$3,090$2,787$2,512$2,112
11 years$3,407$3,046$2,720$2,425$2,160$1,780
12 years$3,091$2,734$2,414$2,127$1,872$1,511
13 years$2,824$2,471$2,157$1,878$1,632$1,290
14 years$2,595$2,246$1,938$1,667$1,431$1,107
15 years$2,397$2,052$1,750$1,487$1,260$953
16 years$2,224$1,883$1,586$1,331$1,114$824
17 years$2,071$1,734$1,443$1,196$987$714
18 years$1,936$1,602$1,318$1,078$878$620
19 years$1,815$1,485$1,206$974$782$540
20 years$1,706$1,380$1,107$882$699$471
21 years$1,608$1,285$1,018$801$625$411
22 years$1,519$1,200$939$728$561$360
23 years$1,437$1,122$867$663$503$315
24 years$1,363$1,051$801$605$452$276
25 years$1,294$987$742$552$407$242
26 years$1,231$927$688$505$367$213
27 years$1,173$873$639$462$331$187
28 years$1,119$822$594$423$298$164
29 years$1,069$776$553$388$269$144
30 years$1,022$733$515$356$243$127
31 years$978$693$480$327$220$112
32 years$937$655$448$301$199$98
33 years$899$621$418$277$180$87
34 years$863$588$391$255$163$76
35 years$829$558$365$234$148$67
36 years$797$529$342$216$134$59
37 years$767$503$320$199$121$52
38 years$739$478$300$183$110$46
39 years$712$454$281$169$100$41
40 years$686$432$263$156$90$36
41 years$662$412$247$144$82$32
42 years$639$392$231$133$74$28
43 years$617$373$217$122$68$25
44 years$596$356$204$113$61$22
45 years$577$339$191$104$56$19
46 years$558$324$180$96$51$17
47 years$540$309$169$89$46$15
48 years$522$295$159$82$42$13
49 years$506$282$149$76$38$12
50 years$490$269$140$70$34$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $502,000, adding $5,689 every year, while hoping to spend $26,856 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: 67/13/20 Blend
59$502,000$502,000$502,000$502,000
60$559,072$532,466$524,685$593,372
61$587,523$529,982$513,688$614,571
62$617,976$526,477$501,421$634,115
63$650,606$521,871$487,816$654,843
64$685,607$516,082$472,797$676,869
65$723,190$509,021$456,287$700,324
66$763,588$500,596$438,205$725,347
67$807,055$490,706$418,466$752,098
68$853,872$479,248$396,982$780,749
69$904,346$466,110$373,659$811,495
70$958,814$451,174$348,402$844,547
71$1,017,648$434,317$321,109$880,143
72$1,081,256$415,406$291,674$918,545
73$1,150,086$394,303$259,986$960,040
74$1,224,631$370,860$225,932$1,004,950
75$1,305,432$344,921$189,389$1,053,627
76$1,393,085$316,321$150,233$1,106,465
77$1,488,246$284,887$108,332$1,163,895
78$1,591,634$250,434$63,549$1,226,396
79$1,704,044$212,768$15,740$1,294,498
80$1,826,346$171,683$0$1,368,785
81$1,959,500$126,962$0$1,457,434
82$2,104,562$78,377$0$1,557,704
83$2,262,695$25,684$0$1,667,057
84$2,435,176$0$0$1,786,403
85$2,623,413$0$0$1,921,231
86$2,828,955$0$0$2,072,496
87$3,053,509$0$0$2,237,781
88$3,298,951$0$0$2,418,473
89$3,567,348$0$0$2,616,098
90$3,860,977$0$0$2,832,335
91$4,182,344$0$0$3,069,034
92$4,534,207$0$0$3,328,231
93$4,919,607$0$0$3,612,171
94$5,341,889$0$0$3,923,324
95$5,804,739$0$0$4,264,409
96$6,312,216$0$0$4,638,424
97$6,868,791$0$0$5,048,668
98$7,479,387$0$0$5,498,776
99$8,149,428$0$0$5,992,752
100$8,884,889$0$0$6,535,007