Can I retire at age 60 with 547,000?

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 $547,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$45,171$44,768$44,376$43,993$43,619$42,358
2 years$22,362$21,945$21,542$21,150$20,771$19,511
3 years$14,760$14,341$13,939$13,551$13,178$11,958
4 years$10,959$10,543$10,144$9,763$9,399$8,228
5 years$8,680$8,265$7,872$7,499$7,145$6,027
6 years$7,161$6,749$6,362$5,997$5,653$4,589
7 years$6,076$5,668$5,287$4,930$4,598$3,587
8 years$5,263$4,859$4,484$4,136$3,814$2,857
9 years$4,631$4,230$3,862$3,523$3,212$2,307
10 years$4,125$3,729$3,367$3,037$2,737$1,882
11 years$3,712$3,320$2,964$2,643$2,354$1,549
12 years$3,368$2,979$2,630$2,318$2,040$1,282
13 years$3,077$2,693$2,350$2,047$1,779$1,068
14 years$2,828$2,447$2,112$1,817$1,559$892
15 years$2,612$2,236$1,907$1,620$1,373$749
16 years$2,423$2,051$1,729$1,451$1,213$630
17 years$2,257$1,889$1,573$1,303$1,076$531
18 years$2,110$1,746$1,436$1,175$957$449
19 years$1,978$1,618$1,314$1,061$853$380
20 years$1,859$1,503$1,206$961$762$322
21 years$1,752$1,400$1,110$872$682$273
22 years$1,655$1,307$1,023$793$611$232
23 years$1,566$1,223$944$722$548$197
24 years$1,485$1,145$873$659$493$168
25 years$1,410$1,075$809$602$444$143
26 years$1,342$1,010$750$550$400$122
27 years$1,278$951$697$504$360$104
28 years$1,219$896$648$461$325$88
29 years$1,164$845$603$423$293$75
30 years$1,113$798$561$388$265$64
31 years$1,066$755$523$357$240$55
32 years$1,021$714$488$328$217$47
33 years$980$676$456$301$196$40
34 years$940$641$426$277$178$34
35 years$904$608$398$255$161$29
36 years$869$577$373$235$146$25
37 years$836$548$349$217$132$21
38 years$805$521$327$200$120$18
39 years$776$495$306$184$109$15
40 years$748$471$287$170$99$13
41 years$721$448$269$157$89$11
42 years$696$427$252$145$81$10
43 years$673$407$237$133$74$8
44 years$650$388$222$123$67$7
45 years$628$370$209$114$61$6
46 years$608$353$196$105$55$5
47 years$588$337$184$97$50$4
48 years$569$321$173$90$45$4
49 years$551$307$163$83$41$3
50 years$534$293$153$77$37$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $547,000, adding $2,479 every year, while hoping to spend $32,424 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: 56/14/30 Blend
59$547,000$547,000$547,000$547,000
60$605,351$576,360$567,882$634,101
61$632,598$570,103$552,407$647,942
62$661,537$562,452$535,327$659,462
63$692,308$553,306$516,554$671,370
64$725,060$542,555$495,995$683,715
65$759,961$530,085$473,556$696,553
66$797,191$515,773$449,134$709,946
67$836,950$499,491$422,625$723,965
68$879,455$481,103$393,920$738,692
69$924,946$460,463$362,902$754,217
70$973,684$437,419$329,453$770,642
71$1,025,956$411,809$293,446$788,082
72$1,082,078$383,463$254,751$806,666
73$1,142,397$352,199$213,232$826,538
74$1,207,291$317,826$168,745$847,861
75$1,277,178$280,143$121,141$870,816
76$1,352,516$238,936$70,265$895,607
77$1,433,807$193,979$15,954$922,460
78$1,521,606$145,034$0$951,630
79$1,616,519$91,850$0$996,846
80$1,719,214$34,161$0$1,051,300
81$1,830,425$0$0$1,110,293
82$1,950,959$0$0$1,178,641
83$2,081,703$0$0$1,258,527
84$2,223,632$0$0$1,345,292
85$2,377,821$0$0$1,439,595
86$2,545,449$0$0$1,542,166
87$2,727,816$0$0$1,653,805
88$2,926,351$0$0$1,775,393
89$3,142,625$0$0$1,907,899
90$3,378,369$0$0$2,052,390
91$3,635,488$0$0$2,210,040
92$3,916,078$0$0$2,382,143
93$4,222,445$0$0$2,570,120
94$4,557,131$0$0$2,775,539
95$4,922,930$0$0$3,000,123
96$5,322,921$0$0$3,245,771
97$5,760,494$0$0$3,514,574
98$6,239,380$0$0$3,808,833
99$6,763,689$0$0$4,131,084
100$7,337,946$0$0$4,484,117