Can I retire at age 60 with 562,000?

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 $562,000?

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$46,409$45,996$45,593$45,199$44,815$43,838
2 years$22,975$22,547$22,132$21,730$21,340$20,361
3 years$15,164$14,735$14,321$13,923$13,539$12,588
4 years$11,260$10,832$10,422$10,031$9,656$8,741
5 years$8,918$8,492$8,088$7,704$7,341$6,463
6 years$7,357$6,934$6,536$6,161$5,808$4,970
7 years$6,243$5,824$5,432$5,066$4,724$3,925
8 years$5,407$4,992$4,607$4,249$3,919$3,159
9 years$4,758$4,346$3,968$3,620$3,300$2,578
10 years$4,238$3,831$3,459$3,120$2,812$2,128
11 years$3,814$3,411$3,045$2,715$2,418$1,771
12 years$3,460$3,061$2,703$2,382$2,096$1,484
13 years$3,161$2,766$2,415$2,103$1,827$1,250
14 years$2,905$2,515$2,170$1,867$1,602$1,058
15 years$2,684$2,297$1,959$1,665$1,410$899
16 years$2,490$2,108$1,776$1,491$1,247$766
17 years$2,319$1,941$1,616$1,339$1,105$654
18 years$2,167$1,794$1,475$1,207$983$560
19 years$2,032$1,662$1,350$1,091$876$481
20 years$1,910$1,545$1,239$988$782$413
21 years$1,800$1,439$1,140$896$700$355
22 years$1,700$1,343$1,051$815$628$306
23 years$1,609$1,256$970$742$563$264
24 years$1,526$1,177$897$677$506$228
25 years$1,449$1,104$831$618$456$196
26 years$1,378$1,038$771$565$410$170
27 years$1,313$977$716$517$370$147
28 years$1,253$921$665$474$334$127
29 years$1,196$868$619$435$302$110
30 years$1,144$820$577$399$272$95
31 years$1,095$775$538$366$246$82
32 years$1,049$734$502$337$223$71
33 years$1,006$695$468$310$202$62
34 years$966$658$438$285$183$53
35 years$928$625$409$262$165$46
36 years$893$593$383$242$150$40
37 years$859$563$358$223$136$35
38 years$827$535$335$205$123$30
39 years$797$509$314$189$112$26
40 years$768$484$295$174$101$23
41 years$741$461$276$161$92$20
42 years$716$439$259$149$83$17
43 years$691$418$243$137$76$15
44 years$668$399$228$127$69$13
45 years$646$380$214$117$62$11
46 years$624$363$201$108$57$10
47 years$604$346$189$100$51$8
48 years$585$330$178$92$47$7
49 years$566$315$167$85$42$6
50 years$549$301$157$79$39$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $562,000, adding $2,782 every year, while hoping to spend $25,030 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: 43/41/16 Blend
59$562,000$562,000$562,000$562,000
60$622,194$592,408$583,697$645,942
61$659,026$594,804$576,619$665,301
62$698,776$596,479$568,465$683,567
63$741,715$597,370$559,172$702,821
64$788,141$597,413$548,676$723,165
65$838,382$596,537$536,908$744,713
66$892,798$594,668$523,795$767,593
67$951,785$591,728$509,264$791,945
68$1,015,778$587,634$493,235$817,927
69$1,085,256$582,297$475,627$845,715
70$1,160,746$575,623$456,354$875,504
71$1,242,827$567,513$435,326$907,510
72$1,332,136$557,862$412,451$941,976
73$1,429,374$546,557$387,628$979,168
74$1,535,314$533,482$360,757$1,019,386
75$1,650,804$518,511$331,731$1,062,961
76$1,776,779$501,511$300,437$1,110,259
77$1,914,267$482,342$266,758$1,161,688
78$2,064,402$460,856$230,574$1,217,702
79$2,228,429$436,896$191,756$1,278,803
80$2,407,721$410,296$150,172$1,345,546
81$2,603,788$380,880$105,682$1,418,551
82$2,818,294$348,463$58,142$1,498,502
83$3,053,070$312,848$7,401$1,586,156
84$3,310,135$273,829$0$1,682,356
85$3,591,707$231,185$0$1,796,012
86$3,900,235$184,686$0$1,922,043
87$4,238,410$134,087$0$2,060,353
88$4,609,200$79,130$0$2,212,239
89$5,015,873$19,542$0$2,379,131
90$5,462,028$0$0$2,562,610
91$5,951,628$0$0$2,784,710
92$6,489,040$0$0$3,038,249
93$7,079,074$0$0$3,316,688
94$7,727,028$0$0$3,622,537
95$8,438,739$0$0$3,958,560
96$9,220,637$0$0$4,327,803
97$10,079,804$0$0$4,733,621
98$11,024,045$0$0$5,179,711
99$12,061,955$0$0$5,670,144
100$13,203,005$0$0$6,209,408