Can I retire at age 60 with 557,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%17.3%
1 years$45,997$45,587$45,187$44,797$44,416$43,098
2 years$22,771$22,346$21,935$21,537$21,150$19,833
3 years$15,030$14,604$14,194$13,799$13,419$12,144
4 years$11,160$10,735$10,329$9,941$9,570$8,348
5 years$8,839$8,417$8,016$7,636$7,275$6,108
6 years$7,292$6,873$6,478$6,107$5,757$4,646
7 years$6,187$5,772$5,383$5,021$4,682$3,627
8 years$5,359$4,947$4,566$4,212$3,884$2,885
9 years$4,715$4,308$3,932$3,587$3,271$2,327
10 years$4,201$3,797$3,428$3,092$2,787$1,896
11 years$3,780$3,380$3,018$2,691$2,397$1,558
12 years$3,429$3,034$2,679$2,361$2,077$1,289
13 years$3,133$2,742$2,393$2,084$1,811$1,071
14 years$2,879$2,492$2,150$1,850$1,588$894
15 years$2,660$2,277$1,941$1,650$1,398$749
16 years$2,468$2,089$1,760$1,477$1,236$629
17 years$2,298$1,924$1,602$1,327$1,095$530
18 years$2,148$1,778$1,462$1,196$974$447
19 years$2,014$1,647$1,338$1,081$868$378
20 years$1,893$1,531$1,228$979$775$320
21 years$1,784$1,426$1,130$888$694$271
22 years$1,685$1,331$1,041$808$622$230
23 years$1,595$1,245$962$736$558$195
24 years$1,512$1,166$889$671$502$166
25 years$1,436$1,095$824$613$452$141
26 years$1,366$1,029$764$560$407$120
27 years$1,301$968$709$513$367$102
28 years$1,241$912$659$470$331$87
29 years$1,186$861$614$431$299$74
30 years$1,134$813$572$395$270$63
31 years$1,085$768$533$363$244$53
32 years$1,040$727$497$334$221$45
33 years$998$689$464$307$200$39
34 years$958$653$434$282$181$33
35 years$920$619$406$260$164$28
36 years$885$587$379$239$148$24
37 years$851$558$355$221$135$20
38 years$820$530$332$203$122$17
39 years$790$504$312$187$111$15
40 years$762$480$292$173$100$13
41 years$735$457$274$160$91$11
42 years$709$435$257$147$83$9
43 years$685$414$241$136$75$8
44 years$662$395$226$125$68$7
45 years$640$377$212$116$62$6
46 years$619$359$199$107$56$5
47 years$599$343$187$99$51$4
48 years$580$327$176$91$46$4
49 years$561$313$166$84$42$3
50 years$544$299$156$78$38$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $557,000, adding $2,095 every year, while hoping to spend $35,598 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: 64/10/26 Blend
59$557,000$557,000$557,000$557,000
60$615,975$586,454$577,820$651,050
61$640,928$577,314$559,301$665,872
62$667,234$566,534$538,969$677,925
63$694,992$553,994$516,725$690,306
64$724,312$539,570$492,466$703,054
65$755,313$523,131$466,085$716,208
66$788,126$504,535$437,469$729,817
67$822,892$483,634$406,502$743,933
68$859,768$460,273$373,060$758,617
69$898,922$434,284$337,016$773,937
70$940,541$405,493$298,234$789,970
71$984,828$373,714$256,577$806,801
72$1,032,005$338,751$211,897$824,529
73$1,082,316$300,396$164,042$843,262
74$1,136,028$258,431$112,853$863,124
75$1,193,433$212,624$58,164$884,250
76$1,254,851$162,731$0$906,796
77$1,320,634$108,493$0$930,989
78$1,391,167$49,638$0$974,188
79$1,466,874$0$0$1,020,510
80$1,548,217$0$0$1,071,804
81$1,635,706$0$0$1,132,874
82$1,729,901$0$0$1,198,654
83$1,831,416$0$0$1,269,576
84$1,940,925$0$0$1,346,115
85$2,059,168$0$0$1,428,792
86$2,186,961$0$0$1,518,181
87$2,325,198$0$0$1,614,914
88$2,474,863$0$0$1,719,682
89$2,637,038$0$0$1,833,248
90$2,812,911$0$0$1,956,450
91$3,003,790$0$0$2,090,209
92$3,211,114$0$0$2,235,539
93$3,436,465$0$0$2,393,554
94$3,681,582$0$0$2,565,482
95$3,948,381$0$0$2,752,672
96$4,238,970$0$0$2,956,608
97$4,555,665$0$0$3,178,926
98$4,901,019$0$0$3,421,424
99$5,277,841$0$0$3,686,081
100$5,689,222$0$0$3,975,077