Can I retire at age 60 with 514,000?

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 $514,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$42,446$42,068$41,699$41,339$40,987$40,325
2 years$21,013$20,621$20,242$19,874$19,518$18,852
3 years$13,869$13,476$13,098$12,734$12,383$11,735
4 years$10,298$9,906$9,532$9,174$8,832$8,206
5 years$8,156$7,767$7,397$7,046$6,714$6,113
6 years$6,729$6,342$5,978$5,635$5,312$4,736
7 years$5,709$5,326$4,968$4,633$4,320$3,770
8 years$4,945$4,566$4,213$3,886$3,584$3,059
9 years$4,351$3,975$3,629$3,310$3,018$2,518
10 years$3,876$3,504$3,164$2,854$2,572$2,096
11 years$3,488$3,119$2,785$2,483$2,212$1,760
12 years$3,165$2,800$2,472$2,178$1,917$1,488
13 years$2,891$2,530$2,208$1,923$1,671$1,265
14 years$2,657$2,300$1,984$1,707$1,465$1,081
15 years$2,454$2,101$1,791$1,522$1,290$927
16 years$2,277$1,928$1,624$1,363$1,140$798
17 years$2,121$1,775$1,478$1,225$1,011$689
18 years$1,982$1,640$1,349$1,104$899$596
19 years$1,858$1,520$1,235$997$801$516
20 years$1,747$1,413$1,134$903$716$448
21 years$1,646$1,316$1,043$820$640$390
22 years$1,555$1,228$961$745$574$339
23 years$1,472$1,149$887$679$515$296
24 years$1,395$1,076$821$619$463$258
25 years$1,325$1,010$760$565$417$225
26 years$1,261$949$705$517$375$197
27 years$1,201$893$655$473$338$172
28 years$1,146$842$608$434$305$150
29 years$1,094$794$566$398$276$132
30 years$1,046$750$527$365$249$115
31 years$1,002$709$492$335$225$101
32 years$960$671$459$308$204$88
33 years$920$635$428$283$184$77
34 years$884$602$400$261$167$68
35 years$849$571$374$240$151$60
36 years$816$542$350$221$137$52
37 years$786$515$328$204$124$46
38 years$756$489$307$188$113$40
39 years$729$465$287$173$102$35
40 years$703$443$269$160$93$31
41 years$678$421$253$147$84$27
42 years$654$401$237$136$76$24
43 years$632$382$222$125$69$21
44 years$611$364$209$116$63$18
45 years$590$348$196$107$57$16
46 years$571$332$184$99$52$14
47 years$553$316$173$91$47$12
48 years$535$302$163$84$43$11
49 years$518$288$153$78$39$10
50 years$502$276$144$72$35$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $514,000, adding $2,728 every year, while hoping to spend $40,153 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: 46/49/5 Blend
59$514,000$514,000$514,000$514,000
60$569,242$542,000$534,033$594,545
61$584,582$525,835$509,201$596,036
62$600,141$507,533$482,191$593,217
63$615,899$486,946$452,888$589,210
64$631,833$463,918$421,171$583,915
65$647,914$438,285$386,915$577,229
66$664,113$409,872$349,988$569,038
67$680,392$378,495$310,252$559,223
68$696,711$343,960$267,564$547,656
69$713,022$306,061$221,775$534,199
70$729,272$264,580$172,726$518,706
71$745,401$219,287$120,255$501,019
72$761,340$169,940$64,192$480,970
73$777,011$116,282$4,357$458,379
74$792,329$58,043$0$433,053
75$807,195$0$0$407,960
76$821,500$0$0$382,891
77$835,121$0$0$388,739
78$847,920$0$0$394,137
79$859,746$0$0$399,008
80$870,425$0$0$403,262
81$879,769$0$0$406,802
82$887,562$0$0$409,519
83$893,570$0$0$411,291
84$897,527$0$0$411,985
85$899,142$0$0$411,449
86$898,089$0$0$409,518
87$894,006$0$0$406,008
88$886,493$0$0$400,713
89$875,104$0$0$393,407
90$859,347$0$0$383,838
91$838,674$0$0$371,727
92$812,480$0$0$356,767
93$780,095$0$0$338,614
94$740,776$0$0$316,893
95$693,701$0$0$291,183
96$637,962$0$0$261,023
97$572,553$0$0$225,901
98$496,362$0$0$185,251
99$408,159$0$0$138,449
100$306,587$0$0$84,804