Can I retire at age 60 with 505,000?

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 $505,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$41,702$41,331$40,969$40,615$40,269$38,718
2 years$20,645$20,260$19,888$19,526$19,176$17,631
3 years$13,626$13,240$12,869$12,511$12,166$10,677
4 years$10,118$9,733$9,365$9,013$8,677$7,254
5 years$8,013$7,631$7,268$6,923$6,596$5,244
6 years$6,611$6,231$5,873$5,536$5,219$3,939
7 years$5,609$5,233$4,881$4,552$4,245$3,035
8 years$4,859$4,486$4,139$3,818$3,521$2,382
9 years$4,275$3,905$3,565$3,252$2,965$1,894
10 years$3,809$3,442$3,108$2,804$2,527$1,521
11 years$3,427$3,065$2,736$2,440$2,173$1,231
12 years$3,109$2,751$2,428$2,140$1,883$1,003
13 years$2,841$2,486$2,170$1,889$1,642$821
14 years$2,611$2,260$1,949$1,677$1,439$674
15 years$2,411$2,064$1,760$1,496$1,267$556
16 years$2,237$1,894$1,596$1,339$1,120$459
17 years$2,084$1,744$1,452$1,203$993$380
18 years$1,948$1,612$1,326$1,085$883$315
19 years$1,826$1,494$1,214$980$787$262
20 years$1,716$1,388$1,114$888$703$218
21 years$1,617$1,293$1,024$805$629$181
22 years$1,528$1,207$944$732$564$151
23 years$1,446$1,129$872$667$506$126
24 years$1,371$1,058$806$608$455$105
25 years$1,302$992$747$556$409$87
26 years$1,239$933$693$508$369$73
27 years$1,180$878$643$465$333$61
28 years$1,126$827$598$426$300$51
29 years$1,075$780$556$391$271$42
30 years$1,028$737$518$359$245$36
31 years$984$697$483$329$221$30
32 years$943$659$451$303$200$25
33 years$904$624$421$278$181$21
34 years$868$592$393$256$164$17
35 years$834$561$368$236$149$14
36 years$802$533$344$217$135$12
37 years$772$506$322$200$122$10
38 years$743$481$301$184$111$8
39 years$716$457$282$170$100$7
40 years$690$435$265$157$91$6
41 years$666$414$248$145$83$5
42 years$643$394$233$133$75$4
43 years$621$376$218$123$68$3
44 years$600$358$205$114$62$3
45 years$580$341$193$105$56$2
46 years$561$326$181$97$51$2
47 years$543$311$170$90$46$2
48 years$526$297$160$83$42$1
49 years$509$283$150$77$38$1
50 years$493$271$141$71$35$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $505,000, adding $6,170 every year, while hoping to spend $28,956 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: 34/43/23 Blend
59$505,000$505,000$505,000$505,000
60$562,874$536,109$528,282$577,892
61$589,479$531,570$515,170$585,055
62$617,826$525,837$500,649$589,700
63$648,064$518,823$484,640$594,123
64$680,353$510,432$467,063$598,324
65$714,871$500,565$447,831$602,303
66$751,811$489,116$426,857$606,063
67$791,386$475,972$404,046$609,612
68$833,828$461,016$379,303$612,960
69$879,393$444,121$352,524$616,123
70$928,363$425,154$323,605$619,120
71$981,044$403,975$292,434$621,978
72$1,037,776$380,435$258,896$624,727
73$1,098,929$354,376$222,869$627,409
74$1,164,911$325,632$184,227$630,069
75$1,236,172$294,028$142,838$632,767
76$1,313,203$259,377$98,565$635,570
77$1,396,545$221,482$51,263$638,558
78$1,486,795$180,137$782$641,825
79$1,584,606$135,121$0$645,479
80$1,690,697$86,204$0$662,677
81$1,805,861$33,140$0$681,586
82$1,930,966$0$0$702,224
83$2,066,971$0$0$736,337
84$2,214,929$0$0$790,573
85$2,375,997$0$0$849,684
86$2,551,451$0$0$914,146
87$2,742,695$0$0$984,483
88$2,951,272$0$0$1,061,273
89$3,178,881$0$0$1,145,152
90$3,427,394$0$0$1,236,819
91$3,698,870$0$0$1,337,044
92$3,995,576$0$0$1,446,674
93$4,320,007$0$0$1,566,645
94$4,674,912$0$0$1,697,984
95$5,063,316$0$0$1,841,822
96$5,488,553$0$0$1,999,408
97$5,954,289$0$0$2,172,113
98$6,464,567$0$0$2,361,451
99$7,023,836$0$0$2,569,086
100$7,636,997$0$0$2,796,853