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%13.2%
1 years$45,171$44,768$44,376$43,993$43,619$43,038
2 years$22,362$21,945$21,542$21,150$20,771$20,187
3 years$14,760$14,341$13,939$13,551$13,178$12,608
4 years$10,959$10,543$10,144$9,763$9,399$8,848
5 years$8,680$8,265$7,872$7,499$7,145$6,615
6 years$7,161$6,749$6,362$5,997$5,653$5,145
7 years$6,076$5,668$5,287$4,930$4,598$4,111
8 years$5,263$4,859$4,484$4,136$3,814$3,349
9 years$4,631$4,230$3,862$3,523$3,212$2,768
10 years$4,125$3,729$3,367$3,037$2,737$2,314
11 years$3,712$3,320$2,964$2,643$2,354$1,951
12 years$3,368$2,979$2,630$2,318$2,040$1,657
13 years$3,077$2,693$2,350$2,047$1,779$1,416
14 years$2,828$2,447$2,112$1,817$1,559$1,216
15 years$2,612$2,236$1,907$1,620$1,373$1,048
16 years$2,423$2,051$1,729$1,451$1,213$906
17 years$2,257$1,889$1,573$1,303$1,076$786
18 years$2,110$1,746$1,436$1,175$957$683
19 years$1,978$1,618$1,314$1,061$853$595
20 years$1,859$1,503$1,206$961$762$519
21 years$1,752$1,400$1,110$872$682$454
22 years$1,655$1,307$1,023$793$611$397
23 years$1,566$1,223$944$722$548$348
24 years$1,485$1,145$873$659$493$305
25 years$1,410$1,075$809$602$444$268
26 years$1,342$1,010$750$550$400$236
27 years$1,278$951$697$504$360$207
28 years$1,219$896$648$461$325$182
29 years$1,164$845$603$423$293$160
30 years$1,113$798$561$388$265$141
31 years$1,066$755$523$357$240$124
32 years$1,021$714$488$328$217$110
33 years$980$676$456$301$196$97
34 years$940$641$426$277$178$85
35 years$904$608$398$255$161$75
36 years$869$577$373$235$146$66
37 years$836$548$349$217$132$58
38 years$805$521$327$200$120$52
39 years$776$495$306$184$109$45
40 years$748$471$287$170$99$40
41 years$721$448$269$157$89$35
42 years$696$427$252$145$81$31
43 years$673$407$237$133$74$28
44 years$650$388$222$123$67$24
45 years$628$370$209$114$61$22
46 years$608$353$196$105$55$19
47 years$588$337$184$97$50$17
48 years$569$321$173$90$45$15
49 years$551$307$163$83$41$13
50 years$534$293$153$77$37$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $547,000, adding $6,710 every year, while hoping to spend $20,110 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: 73/6/21 Blend
59$547,000$547,000$547,000$547,000
60$609,715$580,724$572,246$650,655
61$650,509$587,783$570,019$685,825
62$694,791$594,513$567,044$721,282
63$742,893$600,878$563,274$759,619
64$795,185$606,838$558,660$801,120
65$852,071$612,350$553,152$846,097
66$913,996$617,370$546,697$894,893
67$981,451$621,848$539,238$947,887
68$1,054,974$625,733$530,718$1,005,497
69$1,135,159$628,972$521,075$1,068,184
70$1,222,659$631,505$510,244$1,136,456
71$1,318,193$633,272$498,160$1,210,873
72$1,422,552$634,206$484,753$1,292,053
73$1,536,608$634,238$469,948$1,380,675
74$1,661,320$633,293$453,669$1,477,491
75$1,797,744$631,294$435,836$1,583,327
76$1,947,042$628,156$416,365$1,699,096
77$2,110,496$623,791$395,169$1,825,804
78$2,289,515$618,105$372,155$1,964,558
79$2,485,652$610,999$347,229$2,116,582
80$2,700,617$602,366$320,289$2,283,222
81$2,936,293$592,096$291,233$2,465,964
82$3,194,756$580,069$259,949$2,666,446
83$3,478,288$566,160$226,325$2,886,473
84$3,789,408$550,235$190,241$3,128,035
85$4,130,886$532,156$151,573$3,393,326
86$4,505,776$511,771$110,190$3,684,765
87$4,917,441$488,924$65,958$4,005,019
88$5,369,587$463,448$18,734$4,357,027
89$5,866,294$435,166$0$4,744,029
90$6,412,060$403,893$0$5,176,692
91$7,011,836$369,430$0$5,656,800
92$7,671,081$331,570$0$6,184,526
93$8,395,806$290,092$0$6,764,694
94$9,192,635$244,762$0$7,402,617
95$10,068,865$195,337$0$8,104,149
96$11,032,535$141,554$0$8,875,742
97$12,092,504$83,141$0$9,724,503
98$13,258,531$19,806$0$10,658,266
99$14,541,370$0$0$11,685,662
100$15,952,868$0$0$12,819,420