Can I retire at age 60 with 559,000?

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 $559,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$46,162$45,751$45,349$44,958$44,575$44,037
2 years$22,852$22,427$22,014$21,614$21,226$20,684
3 years$15,084$14,656$14,245$13,849$13,467$12,938
4 years$11,200$10,774$10,366$9,977$9,605$9,093
5 years$8,870$8,447$8,045$7,663$7,301$6,809
6 years$7,318$6,897$6,501$6,128$5,777$5,305
7 years$6,209$5,792$5,403$5,039$4,698$4,245
8 years$5,378$4,965$4,582$4,227$3,898$3,465
9 years$4,732$4,323$3,946$3,600$3,283$2,869
10 years$4,216$3,811$3,441$3,103$2,797$2,402
11 years$3,793$3,392$3,029$2,701$2,405$2,030
12 years$3,442$3,045$2,688$2,369$2,084$1,727
13 years$3,144$2,752$2,402$2,092$1,818$1,479
14 years$2,890$2,501$2,158$1,857$1,593$1,272
15 years$2,669$2,285$1,948$1,656$1,403$1,098
16 years$2,477$2,096$1,766$1,483$1,240$952
17 years$2,307$1,931$1,607$1,332$1,099$827
18 years$2,156$1,784$1,467$1,200$978$721
19 years$2,021$1,653$1,343$1,085$871$629
20 years$1,900$1,536$1,233$982$778$550
21 years$1,790$1,431$1,134$892$696$482
22 years$1,691$1,336$1,045$811$624$423
23 years$1,600$1,249$965$738$560$371
24 years$1,517$1,171$892$673$504$327
25 years$1,441$1,099$827$615$453$287
26 years$1,371$1,032$767$562$408$253
27 years$1,306$972$712$515$368$223
28 years$1,246$916$662$472$332$197
29 years$1,190$864$616$432$300$174
30 years$1,138$816$574$397$271$153
31 years$1,089$771$535$364$245$135
32 years$1,044$730$499$335$222$119
33 years$1,001$691$466$308$201$106
34 years$961$655$435$283$182$93
35 years$923$621$407$261$164$82
36 years$888$590$381$240$149$73
37 years$854$560$356$221$135$65
38 years$823$532$334$204$122$57
39 years$793$506$313$188$111$50
40 years$764$481$293$174$101$45
41 years$737$458$275$160$91$40
42 years$712$436$258$148$83$35
43 years$687$416$242$136$75$31
44 years$664$396$227$126$68$27
45 years$642$378$213$116$62$24
46 years$621$361$200$107$56$21
47 years$601$344$188$99$51$19
48 years$582$329$177$92$46$17
49 years$563$314$166$85$42$15
50 years$546$300$156$78$38$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $559,000, adding $2,189 every year, while hoping to spend $27,439 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: 51/28/21 Blend
59$559,000$559,000$559,000$559,000
60$618,276$588,649$579,984$646,094
61$652,145$588,298$570,219$665,196
62$688,550$587,010$559,207$682,954
63$727,718$584,710$546,877$701,686
64$769,904$581,319$533,156$721,492
65$815,383$576,753$517,966$742,488
66$864,460$570,922$501,226$764,800
67$917,469$563,731$482,851$788,570
68$974,778$555,081$462,753$813,956
69$1,036,789$544,863$440,838$841,134
70$1,103,946$532,967$417,012$870,298
71$1,176,738$519,271$391,171$901,666
72$1,255,701$503,651$363,210$935,479
73$1,341,424$485,972$333,020$972,006
74$1,434,557$466,092$300,483$1,011,545
75$1,535,813$443,861$265,481$1,054,427
76$1,645,977$419,122$227,886$1,101,019
77$1,765,914$391,706$187,567$1,151,730
78$1,896,574$361,437$144,387$1,207,011
79$2,039,003$328,125$98,203$1,267,364
80$2,194,353$291,575$48,864$1,333,347
81$2,363,890$251,576$0$1,405,576
82$2,549,011$207,906$0$1,485,583
83$2,751,249$160,334$0$1,585,018
84$2,972,297$108,610$0$1,693,796
85$3,214,015$52,475$0$1,812,888
86$3,478,452$0$0$1,943,363
87$3,767,865$0$0$2,088,976
88$4,084,738$0$0$2,266,163
89$4,431,807$0$0$2,460,292
90$4,812,086$0$0$2,673,057
91$5,228,893$0$0$2,906,321
92$5,685,883$0$0$3,162,137
93$6,187,080$0$0$3,442,766
94$6,736,918$0$0$3,750,699
95$7,340,280$0$0$4,088,680
96$8,002,546$0$0$4,459,730
97$8,729,640$0$0$4,867,179
98$9,528,088$0$0$5,314,693
99$10,405,081$0$0$5,806,312
100$11,368,539$0$0$6,346,485