Can I retire at age 60 with 581,000?

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 $581,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$47,978$47,551$47,134$46,727$46,330$44,919
2 years$23,752$23,309$22,881$22,465$22,062$20,652
3 years$15,677$15,233$14,805$14,394$13,997$12,633
4 years$11,641$11,198$10,774$10,370$9,983$8,675
5 years$9,219$8,779$8,361$7,965$7,589$6,341
6 years$7,606$7,169$6,757$6,370$6,005$4,818
7 years$6,454$6,020$5,615$5,237$4,883$3,757
8 years$5,590$5,161$4,762$4,393$4,051$2,985
9 years$4,919$4,493$4,102$3,742$3,412$2,405
10 years$4,382$3,961$3,576$3,226$2,907$1,957
11 years$3,943$3,526$3,148$2,807$2,500$1,606
12 years$3,577$3,165$2,794$2,462$2,167$1,327
13 years$3,268$2,860$2,496$2,174$1,889$1,101
14 years$3,004$2,600$2,243$1,930$1,656$918
15 years$2,774$2,375$2,025$1,721$1,458$768
16 years$2,574$2,179$1,836$1,541$1,289$644
17 years$2,397$2,007$1,671$1,384$1,143$542
18 years$2,241$1,854$1,525$1,248$1,016$456
19 years$2,101$1,718$1,396$1,127$906$385
20 years$1,975$1,597$1,281$1,021$809$325
21 years$1,861$1,487$1,179$927$724$275
22 years$1,758$1,388$1,086$843$649$233
23 years$1,663$1,299$1,003$767$582$197
24 years$1,577$1,217$928$700$524$167
25 years$1,498$1,142$859$639$471$142
26 years$1,425$1,073$797$584$424$121
27 years$1,357$1,010$740$535$383$102
28 years$1,295$952$688$490$345$87
29 years$1,237$898$640$449$312$74
30 years$1,183$848$596$412$282$63
31 years$1,132$801$556$379$255$53
32 years$1,085$758$519$348$230$45
33 years$1,040$718$484$320$208$39
34 years$999$681$452$295$189$33
35 years$960$646$423$271$171$28
36 years$923$613$396$250$155$24
37 years$888$582$370$230$140$20
38 years$855$553$347$212$127$17
39 years$824$526$325$196$115$15
40 years$794$500$305$180$105$12
41 years$766$476$286$166$95$11
42 years$740$454$268$154$86$9
43 years$714$432$251$142$78$8
44 years$690$412$236$131$71$7
45 years$667$393$222$121$64$6
46 years$645$375$208$112$59$5
47 years$625$358$195$103$53$4
48 years$605$341$184$95$48$3
49 years$586$326$173$88$44$3
50 years$567$311$162$81$40$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $581,000, adding $4,055 every year, while hoping to spend $25,415 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: 51/31/18 Blend
59$581,000$581,000$581,000$581,000
60$644,445$613,652$604,646$673,920
61$683,137$616,679$597,861$697,675
62$724,924$619,003$589,996$720,515
63$770,094$620,563$580,989$744,798
64$818,965$621,292$570,774$770,668
65$871,887$621,123$559,282$798,286
66$929,242$619,980$546,440$827,831
67$991,453$617,787$532,174$859,500
68$1,058,983$614,461$516,404$893,514
69$1,132,343$609,913$499,047$930,113
70$1,212,094$604,051$480,017$969,568
71$1,298,853$596,775$459,224$1,012,177
72$1,393,301$587,982$436,572$1,058,270
73$1,496,184$577,559$411,964$1,108,213
74$1,608,325$565,390$385,295$1,162,410
75$1,730,630$551,350$356,458$1,221,311
76$1,864,095$535,307$325,340$1,285,412
77$2,009,817$517,121$291,823$1,355,261
78$2,169,003$496,645$255,784$1,431,466
79$2,342,984$473,723$217,095$1,514,701
80$2,533,221$448,189$175,621$1,605,709
81$2,741,328$419,868$131,223$1,705,312
82$2,969,077$388,575$83,753$1,814,421
83$3,218,424$354,116$33,059$1,934,042
84$3,491,518$316,283$0$2,065,286
85$3,790,729$274,857$0$2,213,426
86$4,118,667$229,609$0$2,382,817
87$4,478,206$180,294$0$2,568,640
88$4,872,509$126,654$0$2,772,588
89$5,305,063$68,419$0$2,996,532
90$5,779,708$5,299$0$3,242,537
91$6,300,672$0$0$3,512,881
92$6,872,616$0$0$3,831,571
93$7,500,669$0$0$4,183,574
94$8,190,486$0$0$4,570,259
95$8,948,294$0$0$4,995,124
96$9,780,954$0$0$5,462,024
97$10,696,022$0$0$5,975,206
98$11,701,826$0$0$6,539,349
99$12,807,539$0$0$7,159,606
100$14,023,266$0$0$7,841,657