Can I retire at age 60 with 590,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$48,722$48,288$47,864$47,451$47,047$46,192
2 years$24,120$23,670$23,235$22,813$22,404$21,545
3 years$15,920$15,469$15,035$14,616$14,214$13,378
4 years$11,821$11,371$10,941$10,530$10,137$9,332
5 years$9,362$8,915$8,491$8,088$7,706$6,933
6 years$7,724$7,280$6,862$6,468$6,098$5,357
7 years$6,554$6,114$5,702$5,318$4,959$4,252
8 years$5,677$5,241$4,836$4,461$4,114$3,440
9 years$4,995$4,563$4,165$3,800$3,465$2,823
10 years$4,450$4,022$3,631$3,276$2,952$2,343
11 years$4,004$3,580$3,197$2,851$2,539$1,961
12 years$3,633$3,214$2,837$2,500$2,200$1,653
13 years$3,319$2,904$2,535$2,208$1,919$1,401
14 years$3,050$2,640$2,278$1,960$1,682$1,193
15 years$2,817$2,412$2,056$1,748$1,481$1,020
16 years$2,614$2,213$1,864$1,565$1,309$874
17 years$2,435$2,038$1,697$1,406$1,160$752
18 years$2,275$1,883$1,549$1,267$1,032$648
19 years$2,133$1,745$1,418$1,145$920$560
20 years$2,005$1,622$1,301$1,037$821$484
21 years$1,890$1,510$1,197$941$735$419
22 years$1,785$1,410$1,103$856$659$364
23 years$1,689$1,319$1,018$779$591$316
24 years$1,602$1,236$942$711$532$274
25 years$1,521$1,159$872$649$478$239
26 years$1,447$1,090$809$593$431$208
27 years$1,378$1,026$751$543$389$181
28 years$1,315$966$698$498$351$157
29 years$1,256$912$650$456$317$137
30 years$1,201$861$605$419$286$120
31 years$1,150$814$564$385$259$104
32 years$1,102$770$527$354$234$91
33 years$1,057$729$492$325$212$79
34 years$1,014$691$459$299$192$69
35 years$975$656$430$275$174$61
36 years$937$622$402$254$157$53
37 years$902$591$376$234$143$46
38 years$868$562$352$215$129$40
39 years$837$534$330$199$117$35
40 years$807$508$309$183$106$31
41 years$778$484$290$169$96$27
42 years$751$461$272$156$88$23
43 years$725$439$255$144$79$21
44 years$701$418$240$133$72$18
45 years$678$399$225$123$65$16
46 years$655$381$211$113$59$14
47 years$634$363$199$105$54$12
48 years$614$347$187$97$49$10
49 years$595$331$175$89$45$9
50 years$576$316$165$83$40$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $590,000, adding $4,700 every year, while hoping to spend $38,481 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: 39/32/29 Blend
59$590,000$590,000$590,000$590,000
60$655,028$623,758$614,613$674,794
61$680,897$613,379$594,259$679,312
62$708,116$601,201$571,934$680,315
63$736,780$587,096$547,530$680,672
64$766,996$570,928$520,936$680,350
65$798,878$552,552$492,036$679,314
66$832,552$531,816$460,708$677,532
67$868,155$508,558$426,825$674,968
68$905,836$482,606$390,252$671,591
69$945,758$453,781$350,852$667,369
70$988,099$421,890$308,480$662,269
71$1,033,054$386,731$262,983$656,262
72$1,080,836$348,091$214,203$649,322
73$1,131,677$305,743$161,974$641,422
74$1,185,833$259,450$106,125$632,540
75$1,243,582$208,957$46,475$622,658
76$1,305,231$154,000$0$611,762
77$1,371,115$94,296$0$605,158
78$1,441,600$29,548$0$613,220
79$1,517,090$0$0$621,618
80$1,598,026$0$0$644,713
81$1,684,892$0$0$680,721
82$1,778,220$0$0$719,464
83$1,878,594$0$0$761,192
84$1,986,655$0$0$806,179
85$2,103,106$0$0$854,727
86$2,228,720$0$0$907,165
87$2,364,346$0$0$963,858
88$2,510,918$0$0$1,025,204
89$2,669,460$0$0$1,091,643
90$2,841,099$0$0$1,163,658
91$3,027,076$0$0$1,241,779
92$3,228,752$0$0$1,326,591
93$3,447,626$0$0$1,418,735
94$3,685,346$0$0$1,518,918
95$3,943,724$0$0$1,627,917
96$4,224,754$0$0$1,746,588
97$4,530,631$0$0$1,875,870
98$4,863,768$0$0$2,016,799
99$5,226,823$0$0$2,170,516
100$5,622,717$0$0$2,338,274