Can I retire at age 60 with 581,000?

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 $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%17.2%
1 years$47,978$47,551$47,134$46,727$46,330$44,973
2 years$23,752$23,309$22,881$22,465$22,062$20,706
3 years$15,677$15,233$14,805$14,394$13,997$12,684
4 years$11,641$11,198$10,774$10,370$9,983$8,723
5 years$9,219$8,779$8,361$7,965$7,589$6,386
6 years$7,606$7,169$6,757$6,370$6,005$4,860
7 years$6,454$6,020$5,615$5,237$4,883$3,797
8 years$5,590$5,161$4,762$4,393$4,051$3,022
9 years$4,919$4,493$4,102$3,742$3,412$2,439
10 years$4,382$3,961$3,576$3,226$2,907$1,989
11 years$3,943$3,526$3,148$2,807$2,500$1,635
12 years$3,577$3,165$2,794$2,462$2,167$1,353
13 years$3,268$2,860$2,496$2,174$1,889$1,126
14 years$3,004$2,600$2,243$1,930$1,656$940
15 years$2,774$2,375$2,025$1,721$1,458$788
16 years$2,574$2,179$1,836$1,541$1,289$663
17 years$2,397$2,007$1,671$1,384$1,143$558
18 years$2,241$1,854$1,525$1,248$1,016$471
19 years$2,101$1,718$1,396$1,127$906$399
20 years$1,975$1,597$1,281$1,021$809$338
21 years$1,861$1,487$1,179$927$724$286
22 years$1,758$1,388$1,086$843$649$243
23 years$1,663$1,299$1,003$767$582$206
24 years$1,577$1,217$928$700$524$175
25 years$1,498$1,142$859$639$471$149
26 years$1,425$1,073$797$584$424$127
27 years$1,357$1,010$740$535$383$108
28 years$1,295$952$688$490$345$92
29 years$1,237$898$640$449$312$78
30 years$1,183$848$596$412$282$67
31 years$1,132$801$556$379$255$57
32 years$1,085$758$519$348$230$48
33 years$1,040$718$484$320$208$41
34 years$999$681$452$295$189$35
35 years$960$646$423$271$171$30
36 years$923$613$396$250$155$26
37 years$888$582$370$230$140$22
38 years$855$553$347$212$127$19
39 years$824$526$325$196$115$16
40 years$794$500$305$180$105$14
41 years$766$476$286$166$95$12
42 years$740$454$268$154$86$10
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$4
49 years$586$326$173$88$44$3
50 years$567$311$162$81$40$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $581,000, adding $6,397 every year, while hoping to spend $20,254 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: 56/29/15 Blend
59$581,000$581,000$581,000$581,000
60$646,861$616,068$607,062$680,210
61$691,290$624,705$605,848$712,218
62$739,573$633,086$603,915$744,316
63$792,080$641,178$601,218$778,816
64$849,221$648,945$597,707$815,952
65$911,445$656,347$593,334$855,982
66$979,247$663,343$588,045$899,192
67$1,053,173$669,889$581,787$945,895
68$1,133,822$675,938$574,502$996,438
69$1,221,853$681,440$566,129$1,051,204
70$1,317,993$686,342$556,606$1,110,615
71$1,423,042$690,587$545,866$1,175,138
72$1,537,881$694,114$533,841$1,245,286
73$1,663,478$696,859$520,458$1,321,628
74$1,800,901$698,754$505,642$1,404,790
75$1,951,326$699,725$489,313$1,495,462
76$2,116,046$699,697$471,390$1,594,406
77$2,296,486$698,585$451,785$1,702,465
78$2,494,217$696,305$430,409$1,820,566
79$2,710,965$692,763$407,166$1,949,733
80$2,948,636$687,860$381,959$2,091,096
81$3,209,326$681,494$354,683$2,245,901
82$3,495,343$673,554$325,231$2,415,523
83$3,809,233$663,922$293,491$2,601,479
84$4,153,796$652,476$259,344$2,805,443
85$4,532,119$639,083$222,668$3,029,260
86$4,947,602$623,605$183,335$3,274,966
87$5,403,991$605,895$141,210$3,544,807
88$5,905,411$585,797$96,153$3,841,260
89$6,456,407$563,145$48,018$4,167,057
90$7,061,987$537,766$0$4,525,213
91$7,727,668$509,474$0$4,919,587
92$8,459,527$478,076$0$5,361,544
93$9,264,260$443,363$0$5,847,462
94$10,149,244$405,117$0$6,381,825
95$11,122,608$363,109$0$6,969,579
96$12,193,307$317,094$0$7,616,177
97$13,371,206$266,814$0$8,327,628
98$14,667,179$211,997$0$9,110,560
99$16,093,202$152,355$0$9,972,275
100$17,662,473$87,586$0$10,920,827