Can I retire at age 60 with 553,000?

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 $553,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$45,666$45,259$44,863$44,475$44,097$43,911
2 years$22,607$22,186$21,778$21,382$20,999$20,811
3 years$14,922$14,499$14,092$13,700$13,322$13,139
4 years$11,080$10,658$10,255$9,870$9,502$9,324
5 years$8,775$8,356$7,958$7,581$7,223$7,051
6 years$7,239$6,823$6,432$6,063$5,715$5,549
7 years$6,143$5,730$5,345$4,984$4,648$4,488
8 years$5,321$4,912$4,533$4,181$3,856$3,703
9 years$4,681$4,277$3,904$3,562$3,247$3,100
10 years$4,171$3,770$3,404$3,070$2,767$2,626
11 years$3,753$3,356$2,997$2,672$2,380$2,245
12 years$3,405$3,012$2,659$2,344$2,062$1,933
13 years$3,111$2,722$2,376$2,069$1,798$1,675
14 years$2,859$2,474$2,135$1,837$1,576$1,459
15 years$2,641$2,260$1,927$1,638$1,388$1,276
16 years$2,450$2,074$1,747$1,467$1,227$1,120
17 years$2,282$1,910$1,590$1,318$1,088$987
18 years$2,133$1,765$1,452$1,188$967$871
19 years$1,999$1,636$1,329$1,073$862$771
20 years$1,879$1,520$1,220$972$770$684
21 years$1,771$1,416$1,122$882$689$608
22 years$1,673$1,322$1,034$802$618$541
23 years$1,583$1,236$955$730$554$482
24 years$1,501$1,158$883$666$498$430
25 years$1,426$1,087$818$608$448$384
26 years$1,356$1,021$758$556$404$343
27 years$1,292$961$704$509$364$307
28 years$1,233$906$655$466$329$275
29 years$1,177$854$609$428$297$246
30 years$1,126$807$567$393$268$221
31 years$1,078$763$529$361$242$198
32 years$1,033$722$494$331$219$178
33 years$990$684$461$305$198$159
34 years$951$648$431$280$180$143
35 years$913$615$403$258$163$129
36 years$878$583$377$238$147$116
37 years$845$554$353$219$134$104
38 years$814$526$330$202$121$93
39 years$784$501$309$186$110$84
40 years$756$476$290$172$100$75
41 years$729$453$272$158$90$68
42 years$704$432$255$146$82$61
43 years$680$411$239$135$74$55
44 years$657$392$225$125$68$49
45 years$635$374$211$115$61$45
46 years$614$357$198$106$56$40
47 years$594$340$186$98$51$36
48 years$575$325$175$91$46$32
49 years$557$310$164$84$42$29
50 years$540$296$155$78$38$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $553,000, adding $3,080 every year, while hoping to spend $24,373 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: 78/10/12 Blend
59$553,000$553,000$553,000$553,000
60$612,583$583,274$574,703$658,731
61$649,134$585,922$568,022$692,173
62$688,596$587,882$560,302$725,414
63$731,240$589,096$551,479$761,177
64$777,366$589,501$541,493$799,705
65$827,299$589,029$530,275$841,265
66$881,401$587,608$517,756$886,149
67$940,067$585,165$503,865$934,681
68$1,003,734$581,617$488,524$987,219
69$1,072,879$576,881$471,654$1,044,154
70$1,148,031$570,866$453,172$1,105,921
71$1,229,767$563,476$432,991$1,172,996
72$1,318,728$554,610$411,020$1,245,906
73$1,415,613$544,161$387,164$1,325,232
74$1,521,195$532,014$361,324$1,411,612
75$1,636,324$518,050$333,395$1,505,752
76$1,761,935$502,141$303,270$1,608,428
77$1,899,058$484,151$270,835$1,720,499
78$2,048,825$463,938$235,971$1,842,908
79$2,212,485$441,351$198,556$1,976,696
80$2,391,410$416,229$158,460$2,123,011
81$2,587,114$388,403$115,548$2,283,120
82$2,801,260$357,696$69,679$2,458,416
83$3,035,682$323,917$20,707$2,650,437
84$3,292,399$286,866$0$2,860,880
85$3,573,634$246,333$0$3,095,653
86$3,881,836$202,094$0$3,355,869
87$4,219,700$153,914$0$3,641,167
88$4,590,197$101,543$0$3,954,073
89$4,996,598$44,719$0$4,297,370
90$5,442,504$0$0$4,674,127
91$5,931,885$0$0$5,089,577
92$6,469,112$0$0$5,551,065
93$7,058,999$0$0$6,057,808
94$7,706,852$0$0$6,614,366
95$8,418,511$0$0$7,225,761
96$9,200,415$0$0$7,897,526
97$10,059,655$0$0$8,635,754
98$11,004,042$0$0$9,447,161
99$12,042,184$0$0$10,339,144
100$13,183,561$0$0$11,319,854