Can I retire at age 60 with 586,000?

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 $586,000?

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 years$48,391$47,960$47,540$47,129$46,728$45,396
2 years$23,956$23,510$23,078$22,658$22,252$20,920
3 years$15,812$15,364$14,933$14,517$14,117$12,828
4 years$11,741$11,294$10,867$10,459$10,069$8,831
5 years$9,299$8,855$8,433$8,033$7,654$6,472
6 years$7,671$7,231$6,815$6,424$6,056$4,931
7 years$6,509$6,072$5,664$5,282$4,925$3,856
8 years$5,638$5,205$4,803$4,431$4,086$3,073
9 years$4,961$4,532$4,137$3,774$3,441$2,483
10 years$4,419$3,995$3,607$3,253$2,932$2,027
11 years$3,977$3,556$3,175$2,831$2,522$1,669
12 years$3,608$3,192$2,818$2,483$2,185$1,383
13 years$3,296$2,885$2,518$2,193$1,906$1,152
14 years$3,029$2,622$2,262$1,946$1,670$964
15 years$2,798$2,395$2,042$1,736$1,471$809
16 years$2,596$2,198$1,852$1,554$1,300$681
17 years$2,418$2,024$1,685$1,396$1,153$575
18 years$2,260$1,870$1,538$1,258$1,025$486
19 years$2,119$1,733$1,408$1,137$913$412
20 years$1,992$1,611$1,292$1,030$816$349
21 years$1,877$1,500$1,189$935$730$296
22 years$1,773$1,400$1,096$850$654$252
23 years$1,678$1,310$1,012$774$587$214
24 years$1,591$1,227$936$706$528$182
25 years$1,511$1,152$866$645$475$155
26 years$1,437$1,082$804$589$428$132
27 years$1,369$1,019$746$540$386$113
28 years$1,306$960$694$494$348$96
29 years$1,247$905$646$453$314$82
30 years$1,193$855$601$416$284$70
31 years$1,142$808$561$382$257$60
32 years$1,094$765$523$351$232$51
33 years$1,049$724$488$323$210$44
34 years$1,007$687$456$297$190$37
35 years$968$651$427$274$172$32
36 years$931$618$399$252$156$27
37 years$896$587$374$232$142$23
38 years$862$558$350$214$128$20
39 years$831$530$328$197$116$17
40 years$801$505$307$182$106$14
41 years$773$480$288$168$96$12
42 years$746$458$270$155$87$11
43 years$721$436$254$143$79$9
44 years$696$416$238$132$72$8
45 years$673$396$223$122$65$7
46 years$651$378$210$113$59$6
47 years$630$361$197$104$54$5
48 years$610$344$185$96$49$4
49 years$591$329$174$89$44$4
50 years$572$314$164$82$40$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $586,000, adding $6,249 every year, while hoping to spend $37,310 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: 71/20/9 Blend
59$586,000$586,000$586,000$586,000
60$652,218$621,160$612,077$697,011
61$679,047$611,899$592,884$718,207
62$707,361$600,934$571,797$736,206
63$737,274$588,142$548,715$754,889
64$768,908$573,393$523,528$774,316
65$802,396$556,548$496,126$794,552
66$837,884$537,463$466,390$815,669
67$875,531$515,982$434,197$837,748
68$915,512$491,942$399,420$860,881
69$958,018$465,170$361,924$885,166
70$1,003,257$435,485$321,569$910,717
71$1,051,457$402,691$278,209$937,657
72$1,102,868$366,586$231,692$966,126
73$1,157,764$326,952$181,857$996,277
74$1,216,445$283,562$128,539$1,028,282
75$1,279,241$236,175$71,563$1,062,333
76$1,346,511$184,535$10,748$1,098,640
77$1,418,652$128,373$0$1,137,440
78$1,496,096$67,406$0$1,184,194
79$1,579,322$1,333$0$1,235,433
80$1,668,852$0$0$1,290,466
81$1,765,259$0$0$1,365,113
82$1,869,174$0$0$1,445,913
83$1,981,291$0$0$1,533,113
84$2,102,369$0$0$1,627,309
85$2,233,246$0$0$1,729,154
86$2,374,839$0$0$1,839,367
87$2,528,160$0$0$1,958,738
88$2,694,319$0$0$2,088,134
89$2,874,538$0$0$2,228,512
90$3,070,158$0$0$2,380,921
91$3,282,658$0$0$2,546,516
92$3,513,662$0$0$2,726,569
93$3,764,958$0$0$2,922,476
94$4,038,513$0$0$3,135,777
95$4,336,490$0$0$3,368,163
96$4,661,272$0$0$3,621,498
97$5,015,479$0$0$3,897,831
98$5,401,996$0$0$4,199,418
99$5,823,998$0$0$4,528,744
100$6,284,981$0$0$4,888,542