Can I retire at age 60 with 585,000?

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 $585,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$48,309$47,878$47,459$47,049$46,649$45,971
2 years$23,915$23,470$23,038$22,620$22,214$21,532
3 years$15,785$15,338$14,907$14,493$14,093$13,429
4 years$11,721$11,275$10,849$10,441$10,051$9,410
5 years$9,283$8,840$8,419$8,020$7,641$7,024
6 years$7,658$7,218$6,804$6,413$6,046$5,454
7 years$6,498$6,062$5,654$5,273$4,917$4,351
8 years$5,628$5,196$4,795$4,423$4,079$3,538
9 years$4,952$4,524$4,130$3,768$3,435$2,919
10 years$4,412$3,988$3,601$3,248$2,927$2,436
11 years$3,970$3,550$3,170$2,827$2,517$2,050
12 years$3,602$3,186$2,813$2,479$2,181$1,738
13 years$3,291$2,880$2,513$2,189$1,902$1,482
14 years$3,024$2,617$2,258$1,943$1,668$1,270
15 years$2,793$2,391$2,039$1,733$1,468$1,092
16 years$2,592$2,194$1,849$1,552$1,298$943
17 years$2,414$2,020$1,682$1,394$1,151$816
18 years$2,256$1,867$1,536$1,256$1,023$708
19 years$2,115$1,730$1,406$1,135$912$615
20 years$1,988$1,608$1,290$1,028$814$536
21 years$1,874$1,498$1,187$933$729$467
22 years$1,770$1,398$1,094$848$653$408
23 years$1,675$1,308$1,010$773$586$357
24 years$1,588$1,225$934$705$527$312
25 years$1,508$1,150$865$644$474$273
26 years$1,435$1,080$802$588$427$240
27 years$1,367$1,017$745$539$385$210
28 years$1,304$958$693$493$348$184
29 years$1,245$904$644$453$314$162
30 years$1,191$854$600$415$284$142
31 years$1,140$807$560$381$256$125
32 years$1,092$764$522$351$232$110
33 years$1,048$723$488$322$210$97
34 years$1,006$685$456$297$190$85
35 years$966$650$426$273$172$75
36 years$929$617$398$251$156$66
37 years$894$586$373$232$141$58
38 years$861$557$349$214$128$51
39 years$830$530$327$197$116$45
40 years$800$504$307$182$105$39
41 years$772$480$288$168$96$35
42 years$745$457$270$155$87$31
43 years$719$435$253$143$79$27
44 years$695$415$238$132$71$24
45 years$672$396$223$122$65$21
46 years$650$377$210$112$59$18
47 years$629$360$197$104$53$16
48 years$609$344$185$96$49$14
49 years$590$328$174$89$44$13
50 years$571$314$163$82$40$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $585,000, adding $5,107 every year, while hoping to spend $36,624 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: 56/39/5 Blend
59$585,000$585,000$585,000$585,000
60$649,938$618,933$609,865$685,406
61$677,264$610,293$591,328$701,223
62$706,150$600,002$570,943$713,881
63$736,716$587,941$548,608$726,754
64$769,093$573,983$524,219$739,866
65$803,426$557,993$497,666$753,245
66$839,872$539,831$468,833$766,924
67$878,601$519,345$437,602$780,941
68$919,803$496,377$403,846$795,342
69$963,681$470,759$367,433$810,177
70$1,010,463$442,312$328,228$825,505
71$1,060,393$410,848$286,087$841,395
72$1,113,742$376,169$240,860$857,923
73$1,170,807$338,064$192,391$875,180
74$1,231,911$296,311$140,518$893,265
75$1,297,410$250,674$85,070$912,294
76$1,367,696$200,907$25,870$932,397
77$1,443,196$146,747$0$953,721
78$1,524,381$87,917$0$978,426
79$1,611,768$24,124$0$1,006,310
80$1,705,922$0$0$1,036,216
81$1,807,468$0$0$1,087,682
82$1,917,089$0$0$1,154,457
83$2,035,537$0$0$1,226,652
84$2,163,638$0$0$1,304,776
85$2,302,300$0$0$1,389,388
86$2,452,522$0$0$1,481,104
87$2,615,402$0$0$1,580,600
88$2,792,145$0$0$1,688,619
89$2,984,081$0$0$1,805,981
90$3,192,669$0$0$1,933,585
91$3,419,516$0$0$2,072,421
92$3,666,389$0$0$2,223,579
93$3,935,232$0$0$2,388,259
94$4,228,186$0$0$2,567,779
95$4,547,605$0$0$2,763,591
96$4,896,082$0$0$2,977,294
97$5,276,468$0$0$3,210,646
98$5,691,906$0$0$3,465,585
99$6,145,850$0$0$3,744,243
100$6,642,109$0$0$4,048,967