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%15.5%
1 years$45,666$45,259$44,863$44,475$44,097$43,101
2 years$22,607$22,186$21,778$21,382$20,999$20,000
3 years$14,922$14,499$14,092$13,700$13,322$12,353
4 years$11,080$10,658$10,255$9,870$9,502$8,569
5 years$8,775$8,356$7,958$7,581$7,223$6,330
6 years$7,239$6,823$6,432$6,063$5,715$4,862
7 years$6,143$5,730$5,345$4,984$4,648$3,835
8 years$5,321$4,912$4,533$4,181$3,856$3,083
9 years$4,681$4,277$3,904$3,562$3,247$2,513
10 years$4,171$3,770$3,404$3,070$2,767$2,072
11 years$3,753$3,356$2,997$2,672$2,380$1,722
12 years$3,405$3,012$2,659$2,344$2,062$1,441
13 years$3,111$2,722$2,376$2,069$1,798$1,213
14 years$2,859$2,474$2,135$1,837$1,576$1,025
15 years$2,641$2,260$1,927$1,638$1,388$869
16 years$2,450$2,074$1,747$1,467$1,227$740
17 years$2,282$1,910$1,590$1,318$1,088$631
18 years$2,133$1,765$1,452$1,188$967$540
19 years$1,999$1,636$1,329$1,073$862$462
20 years$1,879$1,520$1,220$972$770$396
21 years$1,771$1,416$1,122$882$689$341
22 years$1,673$1,322$1,034$802$618$293
23 years$1,583$1,236$955$730$554$252
24 years$1,501$1,158$883$666$498$217
25 years$1,426$1,087$818$608$448$187
26 years$1,356$1,021$758$556$404$161
27 years$1,292$961$704$509$364$139
28 years$1,233$906$655$466$329$120
29 years$1,177$854$609$428$297$104
30 years$1,126$807$567$393$268$90
31 years$1,078$763$529$361$242$78
32 years$1,033$722$494$331$219$67
33 years$990$684$461$305$198$58
34 years$951$648$431$280$180$50
35 years$913$615$403$258$163$43
36 years$878$583$377$238$147$38
37 years$845$554$353$219$134$32
38 years$814$526$330$202$121$28
39 years$784$501$309$186$110$24
40 years$756$476$290$172$100$21
41 years$729$453$272$158$90$18
42 years$704$432$255$146$82$16
43 years$680$411$239$135$74$14
44 years$657$392$225$125$68$12
45 years$635$374$211$115$61$10
46 years$614$357$198$106$56$9
47 years$594$340$186$98$51$8
48 years$575$325$175$91$46$7
49 years$557$310$164$84$42$6
50 years$540$296$155$78$38$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $553,000, adding $6,895 every year, while hoping to spend $35,947 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: 31/42/27 Blend
59$553,000$553,000$553,000$553,000
60$616,518$587,209$578,638$630,358
61$641,156$577,735$559,775$632,115
62$667,101$566,592$539,075$630,367
63$694,451$553,660$516,439$627,772
64$723,308$538,813$491,763$624,282
65$753,787$521,916$464,938$619,845
66$786,010$502,826$435,851$614,409
67$820,113$481,395$404,382$607,922
68$856,244$457,463$370,408$600,330
69$894,563$430,860$333,798$591,576
70$935,246$401,410$294,419$581,605
71$978,486$368,925$252,127$570,360
72$1,024,494$333,205$206,776$557,786
73$1,073,501$294,039$158,210$543,824
74$1,125,757$251,207$106,270$528,418
75$1,181,541$204,473$50,787$511,513
76$1,241,156$153,589$0$493,054
77$1,304,932$98,293$0$475,414
78$1,373,234$38,309$0$471,889
79$1,446,463$0$0$467,839
80$1,525,055$0$0$475,596
81$1,609,491$0$0$503,011
82$1,700,300$0$0$532,558
83$1,798,061$0$0$564,434
84$1,903,409$0$0$598,854
85$2,017,045$0$0$636,055
86$2,139,735$0$0$676,299
87$2,272,323$0$0$719,871
88$2,415,737$0$0$767,088
89$2,570,996$0$0$818,295
90$2,739,220$0$0$873,873
91$2,921,641$0$0$934,242
92$3,119,614$0$0$999,862
93$3,334,630$0$0$1,071,241
94$3,568,327$0$0$1,148,937
95$3,822,508$0$0$1,233,563
96$4,099,158$0$0$1,325,795
97$4,400,458$0$0$1,426,377
98$4,728,812$0$0$1,536,126
99$5,086,862$0$0$1,655,944
100$5,477,518$0$0$1,786,823