Can I retire at age 60 with 508,000?

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 $508,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$41,950$41,576$41,212$40,856$40,509$40,052
2 years$20,767$20,381$20,006$19,642$19,290$18,830
3 years$13,707$13,319$12,945$12,585$12,238$11,790
4 years$10,178$9,791$9,421$9,067$8,728$8,295
5 years$8,061$7,676$7,311$6,964$6,635$6,218
6 years$6,650$6,268$5,908$5,569$5,250$4,849
7 years$5,643$5,264$4,910$4,579$4,270$3,885
8 years$4,888$4,512$4,164$3,841$3,542$3,174
9 years$4,301$3,929$3,586$3,272$2,983$2,631
10 years$3,831$3,463$3,127$2,820$2,542$2,206
11 years$3,447$3,083$2,753$2,454$2,186$1,866
12 years$3,128$2,767$2,443$2,153$1,894$1,590
13 years$2,858$2,501$2,183$1,901$1,652$1,363
14 years$2,626$2,273$1,961$1,687$1,448$1,174
15 years$2,426$2,076$1,771$1,505$1,275$1,015
16 years$2,251$1,905$1,605$1,347$1,127$881
17 years$2,096$1,754$1,461$1,211$999$767
18 years$1,959$1,621$1,333$1,091$888$669
19 years$1,837$1,503$1,221$986$792$585
20 years$1,727$1,396$1,120$893$707$512
21 years$1,627$1,301$1,030$810$633$450
22 years$1,537$1,214$950$737$567$395
23 years$1,454$1,135$877$671$509$347
24 years$1,379$1,064$811$612$458$306
25 years$1,310$998$751$559$412$270
26 years$1,246$938$697$511$371$238
27 years$1,187$883$647$468$335$210
28 years$1,132$832$601$429$302$185
29 years$1,081$785$560$393$273$164
30 years$1,034$741$521$361$246$145
31 years$990$701$486$331$223$128
32 years$949$663$453$304$201$113
33 years$910$628$423$280$182$100
34 years$873$595$396$258$165$89
35 years$839$564$370$237$149$79
36 years$807$536$346$218$135$70
37 years$776$509$324$201$123$62
38 years$748$484$303$185$111$55
39 years$720$460$284$171$101$48
40 years$695$438$266$158$92$43
41 years$670$416$250$146$83$38
42 years$647$397$234$134$75$34
43 years$625$378$220$124$68$30
44 years$604$360$206$114$62$27
45 years$584$344$194$106$56$24
46 years$564$328$182$98$51$21
47 years$546$313$171$90$46$19
48 years$529$299$161$83$42$16
49 years$512$285$151$77$38$15
50 years$496$272$142$71$35$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $508,000, adding $6,097 every year, while hoping to spend $24,871 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: 39/45/16 Blend
59$508,000$508,000$508,000$508,000
60$566,105$539,181$531,307$585,255
61$597,385$539,138$522,643$599,447
62$631,022$538,260$512,856$611,926
63$667,231$536,479$501,880$624,890
64$706,245$533,723$489,651$638,394
65$748,325$529,918$476,096$652,503
66$793,752$524,983$461,144$667,288
67$842,840$518,832$444,718$682,831
68$895,931$511,376$426,737$699,223
69$953,402$502,519$407,118$716,567
70$1,015,666$492,160$385,774$734,979
71$1,083,179$480,191$362,612$754,589
72$1,156,442$466,499$337,538$775,543
73$1,236,005$450,963$310,452$798,003
74$1,322,474$433,457$281,249$822,155
75$1,416,516$413,845$249,820$848,201
76$1,518,863$391,986$216,051$876,371
77$1,630,322$367,729$179,824$906,922
78$1,751,781$340,913$141,014$940,139
79$1,884,216$311,372$99,491$976,340
80$2,028,703$278,926$55,121$1,015,883
81$2,186,424$243,387$7,762$1,059,162
82$2,358,684$204,557$0$1,106,620
83$2,546,915$162,226$0$1,166,052
84$2,752,697$116,171$0$1,232,591
85$2,977,767$66,159$0$1,305,546
86$3,224,040$11,941$0$1,385,624
87$3,493,622$0$0$1,473,605
88$3,788,835$0$0$1,593,504
89$4,112,234$0$0$1,731,396
90$4,466,633$0$0$1,882,577
91$4,855,131$0$0$2,048,378
92$5,281,143$0$0$2,230,264
93$5,748,428$0$0$2,429,851
94$6,261,128$0$0$2,648,916
95$6,823,803$0$0$2,889,420
96$7,441,478$0$0$3,153,520
97$8,119,687$0$0$3,443,593
98$8,864,529$0$0$3,762,260
99$9,682,718$0$0$4,112,404
100$10,581,653$0$0$4,497,203