Can I retire at age 60 with 518,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $518,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$42,776$42,395$42,023$41,660$41,306$40,406
2 years$21,176$20,782$20,400$20,029$19,670$18,767
3 years$13,977$13,581$13,200$12,833$12,479$11,603
4 years$10,378$9,984$9,606$9,245$8,900$8,057
5 years$8,220$7,827$7,455$7,101$6,766$5,957
6 years$6,781$6,392$6,025$5,679$5,354$4,581
7 years$5,754$5,368$5,006$4,669$4,354$3,617
8 years$4,984$4,601$4,246$3,917$3,612$2,911
9 years$4,385$4,006$3,657$3,336$3,042$2,377
10 years$3,907$3,531$3,188$2,876$2,592$1,961
11 years$3,515$3,144$2,807$2,503$2,229$1,632
12 years$3,189$2,821$2,491$2,195$1,932$1,368
13 years$2,914$2,550$2,226$1,938$1,684$1,152
14 years$2,678$2,318$2,000$1,720$1,477$975
15 years$2,474$2,117$1,805$1,534$1,300$829
16 years$2,295$1,943$1,637$1,374$1,149$706
17 years$2,138$1,789$1,490$1,234$1,019$603
18 years$1,998$1,653$1,360$1,112$906$516
19 years$1,873$1,532$1,245$1,005$807$443
20 years$1,761$1,424$1,142$910$721$381
21 years$1,659$1,326$1,051$826$645$327
22 years$1,567$1,238$968$751$578$282
23 years$1,483$1,158$894$684$519$243
24 years$1,406$1,085$827$624$467$210
25 years$1,335$1,018$766$570$420$181
26 years$1,270$957$710$521$378$156
27 years$1,210$900$660$477$341$135
28 years$1,155$848$613$437$308$117
29 years$1,103$800$571$401$278$101
30 years$1,054$756$532$368$251$88
31 years$1,009$715$496$338$227$76
32 years$967$676$462$310$205$66
33 years$928$640$432$285$186$57
34 years$891$607$403$263$168$49
35 years$856$576$377$242$152$43
36 years$823$546$353$223$138$37
37 years$792$519$330$205$125$32
38 years$762$493$309$189$113$28
39 years$735$469$290$174$103$24
40 years$708$446$272$161$93$21
41 years$683$425$255$148$85$18
42 years$659$404$239$137$77$16
43 years$637$385$224$126$70$14
44 years$615$367$210$117$63$12
45 years$595$350$198$108$57$10
46 years$575$334$186$100$52$9
47 years$557$319$174$92$47$8
48 years$539$304$164$85$43$7
49 years$522$291$154$79$39$6
50 years$506$278$145$73$35$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $518,000, adding $5,614 every year, while hoping to spend $40,030 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: 59/25/16 Blend
59$518,000$518,000$518,000$518,000
60$576,627$549,173$541,144$607,965
61$592,851$533,491$516,681$614,119
62$609,389$515,698$490,056$615,908
63$626,229$495,651$461,156$616,928
64$643,360$473,193$429,860$617,113
65$660,766$448,162$396,043$616,388
66$678,428$420,386$359,575$614,675
67$696,325$389,683$320,318$611,889
68$714,431$355,858$278,130$607,941
69$732,718$318,710$232,862$602,732
70$751,150$278,022$184,357$596,159
71$769,689$233,566$132,455$588,109
72$788,289$185,103$76,984$578,463
73$806,899$132,377$17,768$567,091
74$825,461$75,122$0$553,854
75$843,908$13,054$0$546,358
76$862,166$0$0$540,429
77$880,150$0$0$547,784
78$897,765$0$0$558,465
79$914,903$0$0$568,813
80$931,444$0$0$578,748
81$947,255$0$0$588,181
82$962,183$0$0$597,015
83$976,061$0$0$605,138
84$988,699$0$0$612,427
85$999,890$0$0$618,744
86$1,009,397$0$0$623,938
87$1,016,961$0$0$627,836
88$1,022,291$0$0$630,251
89$1,025,065$0$0$630,971
90$1,024,926$0$0$629,761
91$1,021,474$0$0$626,363
92$1,014,268$0$0$620,488
93$1,002,818$0$0$611,816
94$986,581$0$0$599,993
95$964,954$0$0$584,625
96$937,270$0$0$565,279
97$902,790$0$0$541,471
98$860,695$0$0$512,668
99$810,080$0$0$478,280
100$749,942$0$0$437,655