Can I retire at age 60 with 577,000?

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 $577,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$47,648$47,224$46,810$46,405$46,011$44,485
2 years$23,588$23,149$22,723$22,310$21,910$20,387
3 years$15,569$15,128$14,703$14,294$13,901$12,429
4 years$11,561$11,121$10,700$10,298$9,914$8,505
5 years$9,156$8,719$8,304$7,910$7,536$6,193
6 years$7,553$7,120$6,711$6,326$5,963$4,688
7 years$6,409$5,979$5,577$5,201$4,850$3,641
8 years$5,551$5,125$4,729$4,363$4,023$2,881
9 years$4,885$4,462$4,073$3,716$3,388$2,311
10 years$4,352$3,933$3,551$3,203$2,887$1,873
11 years$3,916$3,502$3,127$2,788$2,483$1,530
12 years$3,553$3,143$2,775$2,445$2,152$1,258
13 years$3,246$2,840$2,479$2,159$1,876$1,039
14 years$2,983$2,582$2,227$1,916$1,645$862
15 years$2,755$2,358$2,011$1,709$1,448$718
16 years$2,556$2,164$1,823$1,530$1,280$599
17 years$2,381$1,993$1,659$1,375$1,135$501
18 years$2,225$1,841$1,515$1,239$1,009$420
19 years$2,086$1,707$1,387$1,120$899$352
20 years$1,961$1,586$1,272$1,014$803$296
21 years$1,848$1,477$1,170$920$719$249
22 years$1,745$1,379$1,079$837$644$210
23 years$1,652$1,290$996$762$578$177
24 years$1,566$1,208$921$695$520$149
25 years$1,488$1,134$853$635$468$126
26 years$1,415$1,066$791$580$421$106
27 years$1,348$1,003$735$531$380$90
28 years$1,286$945$683$487$343$76
29 years$1,228$892$636$446$310$64
30 years$1,175$842$592$410$280$54
31 years$1,124$796$552$376$253$46
32 years$1,077$753$515$346$229$39
33 years$1,033$713$481$318$207$33
34 years$992$676$449$293$187$28
35 years$953$641$420$269$170$23
36 years$916$609$393$248$154$20
37 years$882$578$368$229$139$17
38 years$849$549$344$211$126$14
39 years$818$522$323$194$115$12
40 years$789$497$302$179$104$10
41 years$761$473$284$165$94$9
42 years$735$451$266$153$86$7
43 years$709$429$250$141$78$6
44 years$686$409$234$130$70$5
45 years$663$390$220$120$64$4
46 years$641$372$207$111$58$4
47 years$620$355$194$102$53$3
48 years$600$339$182$95$48$3
49 years$581$324$171$88$44$2
50 years$563$309$161$81$40$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $577,000, adding $4,321 every year, while hoping to spend $24,576 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: 53/21/26 Blend
59$577,000$577,000$577,000$577,000
60$640,311$609,730$600,787$669,409
61$679,474$613,458$594,764$693,722
62$721,808$616,545$587,717$717,294
63$767,611$618,934$579,583$742,448
64$817,209$620,563$570,301$769,345
65$870,961$621,369$559,803$798,163
66$929,265$621,281$548,022$829,098
67$992,553$620,227$534,884$862,370
68$1,061,304$618,129$520,314$898,220
69$1,136,045$614,905$504,232$936,917
70$1,217,354$610,468$486,556$978,756
71$1,305,867$604,724$467,199$1,024,066
72$1,402,286$597,575$446,070$1,073,210
73$1,507,381$588,918$423,075$1,126,590
74$1,622,000$578,642$398,114$1,184,650
75$1,747,077$566,629$371,085$1,247,884
76$1,883,641$552,756$341,878$1,316,834
77$2,032,824$536,891$310,382$1,392,103
78$2,195,869$518,897$276,477$1,474,356
79$2,374,150$498,625$240,041$1,564,328
80$2,569,176$475,920$200,945$1,662,833
81$2,782,610$450,618$159,055$1,770,770
82$3,016,282$422,544$114,229$1,889,131
83$3,272,209$391,515$66,323$2,019,015
84$3,552,611$357,336$15,181$2,161,634
85$3,859,934$319,802$0$2,318,329
86$4,196,869$278,694$0$2,501,508
87$4,566,383$233,783$0$2,707,083
88$4,971,743$184,827$0$2,932,692
89$5,416,546$131,570$0$3,180,379
90$5,904,756$73,739$0$3,452,400
91$6,440,739$11,050$0$3,751,241
92$7,029,304$0$0$4,079,643
93$7,675,749$0$0$4,453,755
94$8,385,908$0$0$4,867,607
95$9,166,211$0$0$5,322,397
96$10,023,742$0$0$5,822,263
97$10,966,301$0$0$6,371,760
98$12,002,485$0$0$6,975,907
99$13,141,766$0$0$7,640,236
100$14,394,577$0$0$8,370,839