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%15.3%
1 years$45,997$45,587$45,187$44,797$44,416$43,448
2 years$22,771$22,346$21,935$21,537$21,150$20,180
3 years$15,030$14,604$14,194$13,799$13,419$12,476
4 years$11,160$10,735$10,329$9,941$9,570$8,663
5 years$8,839$8,417$8,016$7,636$7,275$6,406
6 years$7,292$6,873$6,478$6,107$5,757$4,926
7 years$6,187$5,772$5,383$5,021$4,682$3,890
8 years$5,359$4,947$4,566$4,212$3,884$3,131
9 years$4,715$4,308$3,932$3,587$3,271$2,555
10 years$4,201$3,797$3,428$3,092$2,787$2,109
11 years$3,780$3,380$3,018$2,691$2,397$1,755
12 years$3,429$3,034$2,679$2,361$2,077$1,471
13 years$3,133$2,742$2,393$2,084$1,811$1,239
14 years$2,879$2,492$2,150$1,850$1,588$1,049
15 years$2,660$2,277$1,941$1,650$1,398$891
16 years$2,468$2,089$1,760$1,477$1,236$759
17 years$2,298$1,924$1,602$1,327$1,095$649
18 years$2,148$1,778$1,462$1,196$974$555
19 years$2,014$1,647$1,338$1,081$868$476
20 years$1,893$1,531$1,228$979$775$409
21 years$1,784$1,426$1,130$888$694$352
22 years$1,685$1,331$1,041$808$622$303
23 years$1,595$1,245$962$736$558$261
24 years$1,512$1,166$889$671$502$226
25 years$1,436$1,095$824$613$452$195
26 years$1,366$1,029$764$560$407$168
27 years$1,301$968$709$513$367$145
28 years$1,241$912$659$470$331$126
29 years$1,186$861$614$431$299$109
30 years$1,134$813$572$395$270$94
31 years$1,085$768$533$363$244$82
32 years$1,040$727$497$334$221$71
33 years$998$689$464$307$200$61
34 years$958$653$434$282$181$53
35 years$920$619$406$260$164$46
36 years$885$587$379$239$148$40
37 years$851$558$355$221$135$34
38 years$820$530$332$203$122$30
39 years$790$504$312$187$111$26
40 years$762$480$292$173$100$22
41 years$735$457$274$160$91$19
42 years$709$435$257$147$83$17
43 years$685$414$241$136$75$15
44 years$662$395$226$125$68$13
45 years$640$377$212$116$62$11
46 years$619$359$199$107$56$10
47 years$599$343$187$99$51$8
48 years$580$327$176$91$46$7
49 years$561$313$166$84$42$6
50 years$544$299$156$78$38$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $557,000, adding $6,639 every year, while hoping to spend $33,548 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: 67/26/7 Blend
59$557,000$557,000$557,000$557,000
60$620,662$591,141$582,508$661,058
61$648,275$584,412$566,327$681,989
62$677,580$576,229$548,480$700,196
63$708,714$566,485$528,875$719,205
64$741,827$555,068$507,417$739,087
65$777,084$541,857$484,006$759,925
66$814,665$526,726$458,538$781,809
67$854,765$509,540$430,903$804,840
68$897,602$490,158$400,989$829,130
69$943,410$468,429$368,676$854,805
70$992,451$444,194$333,839$882,004
71$1,045,007$417,286$296,348$910,881
72$1,101,390$387,525$256,068$941,608
73$1,161,943$354,725$212,858$974,376
74$1,227,041$318,687$166,569$1,009,399
75$1,297,096$279,200$117,046$1,046,912
76$1,372,561$236,042$64,128$1,087,176
77$1,453,934$188,979$7,647$1,130,484
78$1,541,759$137,763$0$1,177,158
79$1,636,638$82,132$0$1,231,487
80$1,739,229$21,811$0$1,290,804
81$1,850,257$0$0$1,354,992
82$1,970,520$0$0$1,437,000
83$2,100,893$0$0$1,532,695
84$2,242,339$0$0$1,636,548
85$2,395,919$0$0$1,749,342
86$2,562,797$0$0$1,871,935
87$2,744,254$0$0$2,005,274
88$2,941,702$0$0$2,150,398
89$3,156,692$0$0$2,308,454
90$3,390,932$0$0$2,480,702
91$3,646,300$0$0$2,668,527
92$3,924,865$0$0$2,873,456
93$4,228,902$0$0$3,097,170
94$4,560,918$0$0$3,341,517
95$4,923,670$0$0$3,608,533
96$5,320,196$0$0$3,900,459
97$5,753,838$0$0$4,219,763
98$6,228,278$0$0$4,569,163
99$6,747,568$0$0$4,951,649
100$7,316,172$0$0$5,370,516