Can I retire at age 60 with 512,000?

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 $512,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$42,280$41,904$41,536$41,178$40,828$39,760
2 years$20,931$20,541$20,163$19,797$19,442$18,373
3 years$13,815$13,424$13,047$12,684$12,335$11,299
4 years$10,258$9,868$9,495$9,138$8,797$7,802
5 years$8,125$7,737$7,368$7,019$6,687$5,736
6 years$6,703$6,318$5,955$5,613$5,292$4,384
7 years$5,687$5,305$4,948$4,615$4,303$3,441
8 years$4,926$4,548$4,197$3,871$3,570$2,751
9 years$4,334$3,960$3,615$3,298$3,007$2,231
10 years$3,861$3,490$3,151$2,842$2,562$1,829
11 years$3,475$3,107$2,774$2,474$2,203$1,511
12 years$3,152$2,789$2,462$2,170$1,909$1,257
13 years$2,880$2,520$2,200$1,916$1,665$1,052
14 years$2,647$2,291$1,977$1,701$1,459$883
15 years$2,445$2,093$1,785$1,517$1,285$745
16 years$2,268$1,920$1,618$1,358$1,136$630
17 years$2,113$1,768$1,472$1,220$1,007$534
18 years$1,975$1,634$1,344$1,100$895$453
19 years$1,851$1,514$1,230$994$798$386
20 years$1,740$1,407$1,129$900$713$329
21 years$1,640$1,311$1,039$817$638$280
22 years$1,549$1,224$957$743$572$239
23 years$1,466$1,144$884$676$513$205
24 years$1,390$1,072$817$617$461$175
25 years$1,320$1,006$757$563$415$150
26 years$1,256$946$702$515$374$128
27 years$1,196$890$652$471$337$110
28 years$1,141$839$606$432$304$94
29 years$1,090$791$564$396$275$81
30 years$1,042$747$525$363$248$69
31 years$998$706$490$334$224$59
32 years$956$668$457$307$203$51
33 years$917$633$427$282$184$44
34 years$880$600$399$260$166$38
35 years$846$569$373$239$151$32
36 years$813$540$349$220$136$28
37 years$782$513$326$203$124$24
38 years$753$487$306$187$112$20
39 years$726$463$286$172$102$18
40 years$700$441$268$159$92$15
41 years$675$420$252$147$84$13
42 years$652$400$236$135$76$11
43 years$630$381$222$125$69$10
44 years$608$363$208$115$63$8
45 years$588$346$195$107$57$7
46 years$569$330$183$98$52$6
47 years$550$315$172$91$47$5
48 years$533$301$162$84$43$4
49 years$516$287$152$78$39$4
50 years$500$274$143$72$35$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $512,000, adding $6,524 every year, while hoping to spend $34,479 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: 24/49/27 Blend
59$512,000$512,000$512,000$512,000
60$570,954$543,818$535,882$579,681
61$592,505$533,779$517,148$577,492
62$615,100$522,093$496,632$571,803
63$638,807$508,643$474,236$564,978
64$663,703$493,304$449,860$556,947
65$689,870$475,945$423,400$547,634
66$717,398$456,427$394,745$536,962
67$746,384$434,604$363,780$524,848
68$776,935$410,319$330,386$511,207
69$809,166$383,409$294,438$495,951
70$843,204$353,699$255,805$478,986
71$879,185$321,005$214,349$460,218
72$917,262$285,134$169,930$439,546
73$957,596$245,879$122,396$416,866
74$1,000,369$203,025$71,594$392,071
75$1,045,774$156,341$17,360$365,050
76$1,094,027$105,585$0$335,687
77$1,145,362$50,503$0$315,537
78$1,200,035$0$0$298,901
79$1,258,326$0$0$285,646
80$1,320,544$0$0$300,616
81$1,387,025$0$0$316,667
82$1,458,138$0$0$333,895
83$1,534,288$0$0$352,405
84$1,615,919$0$0$372,313
85$1,703,519$0$0$393,747
86$1,797,621$0$0$416,845
87$1,898,812$0$0$441,763
88$2,007,736$0$0$468,667
89$2,125,101$0$0$497,744
90$2,251,683$0$0$529,197
91$2,388,336$0$0$563,250
92$2,535,998$0$0$600,148
93$2,695,699$0$0$640,163
94$2,868,571$0$0$683,591
95$3,055,861$0$0$730,760
96$3,258,937$0$0$782,030
97$3,479,305$0$0$837,797
98$3,718,622$0$0$898,495
99$3,978,708$0$0$964,605
100$4,261,568$0$0$1,036,654