Can I retire at age 60 with 582,000?

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 $582,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$48,061$47,633$47,215$46,808$46,409$45,068
2 years$23,793$23,349$22,920$22,504$22,100$20,759
3 years$15,704$15,259$14,831$14,418$14,021$12,723
4 years$11,661$11,217$10,793$10,388$10,000$8,755
5 years$9,235$8,794$8,376$7,979$7,602$6,412
6 years$7,619$7,181$6,769$6,381$6,015$4,883
7 years$6,465$6,031$5,625$5,246$4,892$3,817
8 years$5,600$5,169$4,770$4,401$4,058$3,039
9 years$4,927$4,501$4,109$3,748$3,418$2,454
10 years$4,389$3,967$3,582$3,231$2,912$2,003
11 years$3,950$3,532$3,154$2,812$2,504$1,648
12 years$3,583$3,170$2,799$2,467$2,170$1,365
13 years$3,274$2,865$2,501$2,178$1,893$1,136
14 years$3,009$2,604$2,247$1,933$1,659$950
15 years$2,779$2,379$2,028$1,724$1,461$797
16 years$2,578$2,183$1,839$1,544$1,291$670
17 years$2,402$2,010$1,674$1,387$1,145$565
18 years$2,245$1,857$1,528$1,250$1,018$477
19 years$2,104$1,721$1,399$1,129$907$404
20 years$1,978$1,600$1,284$1,023$810$342
21 years$1,864$1,490$1,181$928$725$291
22 years$1,761$1,391$1,088$844$650$247
23 years$1,666$1,301$1,005$769$583$210
24 years$1,580$1,219$929$701$524$178
25 years$1,500$1,144$861$640$472$152
26 years$1,427$1,075$798$585$425$129
27 years$1,360$1,012$741$536$383$110
28 years$1,297$953$689$491$346$94
29 years$1,239$899$641$450$312$80
30 years$1,185$849$597$413$282$68
31 years$1,134$803$557$379$255$58
32 years$1,087$760$519$349$231$50
33 years$1,042$719$485$321$209$42
34 years$1,001$682$453$295$189$36
35 years$961$647$424$272$171$31
36 years$924$614$396$250$155$26
37 years$889$583$371$230$141$22
38 years$856$554$347$212$127$19
39 years$825$527$325$196$116$16
40 years$796$501$305$181$105$14
41 years$768$477$286$167$95$12
42 years$741$454$268$154$86$10
43 years$716$433$252$142$78$9
44 years$691$413$236$131$71$7
45 years$669$394$222$121$65$6
46 years$647$375$208$112$59$5
47 years$626$358$196$103$53$5
48 years$606$342$184$95$48$4
49 years$587$327$173$88$44$3
50 years$568$312$163$82$40$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $582,000, adding $3,496 every year, while hoping to spend $34,970 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: 40/49/11 Blend
59$582,000$582,000$582,000$582,000
60$644,970$614,124$605,103$668,513
61$673,549$607,008$588,166$678,323
62$703,871$598,372$569,490$685,207
63$736,078$588,103$548,979$691,876
64$770,322$576,085$526,534$698,327
65$806,772$562,191$502,051$704,557
66$845,614$546,289$475,420$710,569
67$887,049$528,239$446,529$716,365
68$931,298$507,894$415,259$721,954
69$978,605$485,095$381,484$727,348
70$1,029,235$459,676$345,076$732,564
71$1,083,480$431,463$305,899$737,626
72$1,141,659$400,270$263,811$742,562
73$1,204,125$365,899$218,665$747,410
74$1,271,261$328,144$170,305$752,216
75$1,343,491$286,784$118,572$757,035
76$1,421,279$241,589$63,296$761,933
77$1,505,135$192,312$4,303$766,989
78$1,595,620$138,696$0$772,297
79$1,693,348$80,467$0$784,850
80$1,798,996$17,337$0$798,878
81$1,913,308$0$0$814,045
82$2,037,100$0$0$858,046
83$2,171,271$0$0$915,931
84$2,316,808$0$0$978,788
85$2,474,798$0$0$1,047,092
86$2,646,436$0$0$1,121,371
87$2,833,037$0$0$1,202,201
88$3,036,045$0$0$1,290,219
89$3,257,052$0$0$1,386,125
90$3,497,809$0$0$1,490,689
91$3,760,243$0$0$1,604,758
92$4,046,472$0$0$1,729,266
93$4,358,832$0$0$1,865,240
94$4,699,890$0$0$2,013,811
95$5,072,475$0$0$2,176,222
96$5,479,699$0$0$2,353,845
97$5,924,990$0$0$2,548,189
98$6,412,120$0$0$2,760,914
99$6,945,246$0$0$2,993,851
100$7,528,941$0$0$3,249,014