Can I retire at age 60 with 580,000?

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 $580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$47,896$47,469$47,053$46,647$46,250$45,446
2 years$23,711$23,269$22,841$22,426$22,024$21,217
3 years$15,650$15,207$14,780$14,369$13,973$13,188
4 years$11,621$11,179$10,756$10,352$9,966$9,208
5 years$9,204$8,764$8,347$7,951$7,576$6,848
6 years$7,593$7,157$6,746$6,359$5,994$5,298
7 years$6,443$6,010$5,606$5,228$4,875$4,209
8 years$5,580$5,152$4,754$4,385$4,044$3,409
9 years$4,910$4,486$4,095$3,735$3,406$2,801
10 years$4,374$3,954$3,570$3,220$2,902$2,327
11 years$3,936$3,520$3,143$2,802$2,496$1,951
12 years$3,571$3,159$2,789$2,458$2,163$1,646
13 years$3,263$2,855$2,492$2,170$1,886$1,397
14 years$2,998$2,595$2,239$1,926$1,653$1,191
15 years$2,770$2,371$2,022$1,718$1,456$1,020
16 years$2,570$2,175$1,833$1,538$1,287$876
17 years$2,393$2,003$1,668$1,382$1,141$754
18 years$2,237$1,851$1,522$1,246$1,014$651
19 years$2,097$1,715$1,394$1,125$904$563
20 years$1,971$1,594$1,279$1,019$808$488
21 years$1,858$1,485$1,177$925$723$423
22 years$1,754$1,386$1,084$841$648$367
23 years$1,660$1,296$1,001$766$581$319
24 years$1,574$1,215$926$699$523$278
25 years$1,495$1,140$858$638$470$242
26 years$1,422$1,071$795$583$424$211
27 years$1,355$1,008$739$534$382$184
28 years$1,293$950$687$489$345$161
29 years$1,235$896$639$449$311$140
30 years$1,181$846$595$412$281$122
31 years$1,130$800$555$378$254$107
32 years$1,083$757$518$348$230$93
33 years$1,039$717$483$320$208$82
34 years$997$680$452$294$188$71
35 years$958$645$422$271$171$62
36 years$921$612$395$249$155$55
37 years$886$581$370$230$140$48
38 years$854$552$346$212$127$42
39 years$822$525$324$195$115$37
40 years$793$500$304$180$104$32
41 years$765$476$285$166$95$28
42 years$738$453$267$153$86$25
43 years$713$431$251$142$78$21
44 years$689$411$236$131$71$19
45 years$666$392$221$121$64$16
46 years$644$374$208$111$58$14
47 years$624$357$195$103$53$13
48 years$604$341$183$95$48$11
49 years$585$326$172$88$44$10
50 years$566$311$162$81$40$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $580,000, adding $3,955 every year, while hoping to spend $29,708 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: 48/42/10 Blend
59$580,000$580,000$580,000$580,000
60$643,240$612,500$603,510$672,178
61$677,241$610,903$592,118$690,884
62$713,715$608,232$579,349$707,754
63$752,882$604,404$565,126$725,390
64$794,985$599,329$549,366$743,873
65$840,289$592,912$531,986$763,293
66$889,087$585,053$512,896$783,753
67$941,700$575,647$492,004$805,364
68$998,480$564,580$469,213$828,255
69$1,059,815$551,735$444,422$852,567
70$1,126,130$536,983$417,523$878,459
71$1,197,893$520,193$388,408$906,107
72$1,275,617$501,222$356,959$935,711
73$1,359,869$479,921$323,056$967,490
74$1,451,270$456,131$286,573$1,001,692
75$1,550,504$429,686$247,378$1,038,589
76$1,658,323$400,408$205,332$1,078,488
77$1,775,554$368,110$160,292$1,121,729
78$1,903,107$332,593$112,109$1,168,691
79$2,041,983$293,650$60,624$1,219,795
80$2,193,284$251,058$5,674$1,275,511
81$2,358,224$204,584$0$1,336,358
82$2,538,136$153,982$0$1,408,567
83$2,734,489$98,991$0$1,488,144
84$2,948,900$39,334$0$1,575,215
85$3,183,150$0$0$1,670,596
86$3,439,196$0$0$1,786,868
87$3,719,198$0$0$1,933,959
88$4,025,529$0$0$2,094,946
89$4,360,806$0$0$2,271,210
90$4,727,909$0$0$2,464,275
91$5,130,008$0$0$2,675,817
92$5,570,597$0$0$2,907,681
93$6,053,522$0$0$3,161,903
94$6,583,019$0$0$3,440,720
95$7,163,754$0$0$3,746,600
96$7,800,865$0$0$4,082,261
97$8,500,014$0$0$4,450,694
98$9,267,435$0$0$4,855,196
99$10,109,997$0$0$5,299,400
100$11,035,264$0$0$5,787,305