Can I retire at age 60 with 583,000?

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 $583,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$48,144$47,715$47,296$46,888$46,489$44,983
2 years$23,833$23,390$22,959$22,542$22,138$20,634
3 years$15,731$15,285$14,856$14,443$14,045$12,592
4 years$11,681$11,236$10,812$10,405$10,017$8,625
5 years$9,251$8,809$8,390$7,992$7,615$6,288
6 years$7,632$7,194$6,781$6,392$6,025$4,764
7 years$6,476$6,041$5,635$5,255$4,900$3,705
8 years$5,609$5,178$4,779$4,408$4,065$2,935
9 years$4,935$4,509$4,116$3,755$3,423$2,357
10 years$4,397$3,974$3,588$3,237$2,917$1,912
11 years$3,956$3,538$3,159$2,817$2,509$1,564
12 years$3,590$3,176$2,804$2,471$2,174$1,288
13 years$3,279$2,870$2,505$2,181$1,896$1,065
14 years$3,014$2,609$2,251$1,936$1,662$885
15 years$2,784$2,383$2,032$1,727$1,463$738
16 years$2,583$2,186$1,842$1,546$1,293$617
17 years$2,406$2,013$1,676$1,389$1,147$517
18 years$2,248$1,861$1,530$1,252$1,020$434
19 years$2,108$1,724$1,401$1,131$909$364
20 years$1,981$1,602$1,286$1,025$812$307
21 years$1,867$1,493$1,183$930$726$258
22 years$1,764$1,393$1,090$845$651$218
23 years$1,669$1,303$1,006$770$584$184
24 years$1,583$1,221$931$702$525$155
25 years$1,503$1,146$862$641$473$131
26 years$1,430$1,077$800$586$426$111
27 years$1,362$1,013$742$537$384$94
28 years$1,299$955$690$492$346$79
29 years$1,241$901$642$451$313$67
30 years$1,187$851$598$414$283$57
31 years$1,136$804$558$380$256$48
32 years$1,089$761$520$349$231$41
33 years$1,044$721$486$321$209$35
34 years$1,002$683$454$296$189$29
35 years$963$648$424$272$172$25
36 years$926$615$397$251$155$21
37 years$891$584$372$231$141$18
38 years$858$555$348$213$128$15
39 years$827$528$326$196$116$13
40 years$797$502$306$181$105$11
41 years$769$478$287$167$95$9
42 years$742$455$269$154$86$8
43 years$717$434$252$142$78$7
44 years$693$413$237$131$71$6
45 years$670$394$222$121$65$5
46 years$648$376$209$112$59$4
47 years$627$359$196$104$53$3
48 years$607$343$184$96$48$3
49 years$588$327$173$88$44$2
50 years$569$313$163$82$40$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $583,000, adding $3,935 every year, while hoping to spend $40,965 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: 79/8/13 Blend
59$583,000$583,000$583,000$583,000
60$646,525$615,626$606,589$695,653
61$668,884$602,205$583,324$715,099
62$692,151$586,754$557,906$730,765
63$716,375$569,129$530,220$746,781
64$741,608$549,180$500,146$763,164
65$767,909$526,746$467,557$779,934
66$795,338$501,659$432,323$797,112
67$823,962$473,740$394,305$814,723
68$853,851$442,798$353,359$832,793
69$885,083$408,635$309,336$851,353
70$917,742$371,038$262,079$870,437
71$951,916$329,784$211,423$890,081
72$987,704$284,636$157,199$910,330
73$1,025,211$235,344$99,226$931,229
74$1,064,552$181,645$37,320$952,832
75$1,105,851$123,261$0$975,197
76$1,149,243$59,895$0$1,002,377
77$1,194,875$0$0$1,036,242
78$1,242,906$0$0$1,072,492
79$1,293,510$0$0$1,116,246
80$1,346,876$0$0$1,162,395
81$1,403,211$0$0$1,211,118
82$1,462,738$0$0$1,262,611
83$1,525,705$0$0$1,317,088
84$1,592,377$0$0$1,374,780
85$1,663,048$0$0$1,435,942
86$1,738,037$0$0$1,500,852
87$1,817,694$0$0$1,569,814
88$1,902,401$0$0$1,643,160
89$1,992,576$0$0$1,721,254
90$2,088,677$0$0$1,804,494
91$2,191,205$0$0$1,893,316
92$2,300,710$0$0$1,988,198
93$2,417,793$0$0$2,089,664
94$2,543,115$0$0$2,198,287
95$2,677,399$0$0$2,314,697
96$2,821,438$0$0$2,439,585
97$2,976,105$0$0$2,573,709
98$3,142,354$0$0$2,717,900
99$3,321,235$0$0$2,873,070
100$3,513,901$0$0$3,040,224