Can I retire at age 60 with 557,000?

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 $557,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$45,997$45,587$45,187$44,797$44,416$43,484
2 years$22,771$22,346$21,935$21,537$21,150$20,216
3 years$15,030$14,604$14,194$13,799$13,419$12,510
4 years$11,160$10,735$10,329$9,941$9,570$8,696
5 years$8,839$8,417$8,016$7,636$7,275$6,437
6 years$7,292$6,873$6,478$6,107$5,757$4,955
7 years$6,187$5,772$5,383$5,021$4,682$3,917
8 years$5,359$4,947$4,566$4,212$3,884$3,156
9 years$4,715$4,308$3,932$3,587$3,271$2,579
10 years$4,201$3,797$3,428$3,092$2,787$2,131
11 years$3,780$3,380$3,018$2,691$2,397$1,776
12 years$3,429$3,034$2,679$2,361$2,077$1,490
13 years$3,133$2,742$2,393$2,084$1,811$1,257
14 years$2,879$2,492$2,150$1,850$1,588$1,066
15 years$2,660$2,277$1,941$1,650$1,398$906
16 years$2,468$2,089$1,760$1,477$1,236$774
17 years$2,298$1,924$1,602$1,327$1,095$662
18 years$2,148$1,778$1,462$1,196$974$567
19 years$2,014$1,647$1,338$1,081$868$488
20 years$1,893$1,531$1,228$979$775$419
21 years$1,784$1,426$1,130$888$694$361
22 years$1,685$1,331$1,041$808$622$312
23 years$1,595$1,245$962$736$558$269
24 years$1,512$1,166$889$671$502$233
25 years$1,436$1,095$824$613$452$201
26 years$1,366$1,029$764$560$407$174
27 years$1,301$968$709$513$367$151
28 years$1,241$912$659$470$331$131
29 years$1,186$861$614$431$299$113
30 years$1,134$813$572$395$270$98
31 years$1,085$768$533$363$244$85
32 years$1,040$727$497$334$221$74
33 years$998$689$464$307$200$64
34 years$958$653$434$282$181$56
35 years$920$619$406$260$164$48
36 years$885$587$379$239$148$42
37 years$851$558$355$221$135$36
38 years$820$530$332$203$122$32
39 years$790$504$312$187$111$27
40 years$762$480$292$173$100$24
41 years$735$457$274$160$91$21
42 years$709$435$257$147$83$18
43 years$685$414$241$136$75$16
44 years$662$395$226$125$68$14
45 years$640$377$212$116$62$12
46 years$619$359$199$107$56$10
47 years$599$343$187$99$51$9
48 years$580$327$176$91$46$8
49 years$561$313$166$84$42$7
50 years$544$299$156$78$38$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $557,000, adding $2,640 every year, while hoping to spend $24,694 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: 35/36/29 Blend
59$557,000$557,000$557,000$557,000
60$616,537$587,016$578,383$632,657
61$653,150$589,506$571,484$647,480
62$692,669$591,290$563,527$661,064
63$735,366$592,307$554,450$675,249
64$781,537$592,494$544,188$690,108
65$831,509$591,782$532,673$705,719
66$885,642$590,098$519,836$722,174
67$944,329$587,365$505,603$739,573
68$1,008,006$583,501$489,896$758,029
69$1,077,149$578,419$472,634$777,670
70$1,152,285$572,028$453,734$798,638
71$1,233,990$564,229$433,106$821,093
72$1,322,900$554,920$410,658$845,213
73$1,419,715$543,990$386,295$871,199
74$1,525,205$531,324$359,914$899,272
75$1,640,216$516,799$331,411$929,681
76$1,765,680$500,284$300,676$962,705
77$1,902,624$481,643$267,593$998,652
78$2,052,176$460,728$232,042$1,037,867
79$2,215,581$437,386$193,898$1,080,734
80$2,394,207$411,455$153,030$1,127,679
81$2,589,560$382,760$109,301$1,179,179
82$2,803,300$351,121$62,568$1,235,760
83$3,037,255$316,344$12,682$1,298,012
84$3,293,436$278,225$0$1,366,586
85$3,574,058$236,550$0$1,454,755
86$3,881,561$191,090$0$1,555,780
87$4,218,632$141,606$0$1,666,676
88$4,588,231$87,843$0$1,788,488
89$4,993,617$29,534$0$1,922,373
90$5,438,381$0$0$2,069,608
91$5,926,475$0$0$2,244,917
92$6,462,257$0$0$2,450,278
93$7,050,523$0$0$2,675,843
94$7,696,560$0$0$2,923,648
95$8,406,190$0$0$3,195,937
96$9,185,826$0$0$3,495,183
97$10,042,534$0$0$3,824,111
98$10,984,099$0$0$4,185,719
99$12,019,097$0$0$4,583,316
100$13,156,974$0$0$5,020,543