Can I retire at age 60 with 593,000?

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 $593,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$48,969$48,533$48,108$47,692$47,287$46,256
2 years$24,242$23,791$23,353$22,929$22,517$21,485
3 years$16,001$15,548$15,111$14,691$14,286$13,283
4 years$11,881$11,429$10,997$10,584$10,189$9,223
5 years$9,410$8,961$8,534$8,129$7,745$6,820
6 years$7,763$7,317$6,897$6,501$6,129$5,244
7 years$6,587$6,145$5,731$5,345$4,984$4,141
8 years$5,705$5,267$4,861$4,484$4,135$3,333
9 years$5,020$4,586$4,186$3,819$3,482$2,721
10 years$4,472$4,042$3,650$3,292$2,967$2,245
11 years$4,024$3,599$3,213$2,865$2,552$1,868
12 years$3,651$3,230$2,852$2,513$2,211$1,566
13 years$3,336$2,919$2,548$2,219$1,928$1,319
14 years$3,066$2,653$2,289$1,970$1,690$1,117
15 years$2,832$2,424$2,067$1,756$1,488$949
16 years$2,627$2,224$1,874$1,573$1,315$808
17 years$2,447$2,048$1,705$1,413$1,166$691
18 years$2,287$1,892$1,557$1,273$1,037$591
19 years$2,144$1,754$1,425$1,151$924$507
20 years$2,015$1,630$1,308$1,042$826$436
21 years$1,899$1,518$1,203$946$739$375
22 years$1,794$1,417$1,109$860$662$323
23 years$1,698$1,325$1,024$783$594$278
24 years$1,610$1,242$947$714$534$240
25 years$1,529$1,165$877$652$481$207
26 years$1,454$1,095$813$596$433$179
27 years$1,385$1,031$755$546$390$155
28 years$1,322$971$702$500$352$134
29 years$1,262$916$653$459$318$116
30 years$1,207$865$609$421$287$100
31 years$1,155$818$567$387$260$87
32 years$1,107$774$529$355$235$75
33 years$1,062$733$494$327$213$65
34 years$1,019$695$462$301$193$56
35 years$979$659$432$277$174$49
36 years$942$625$404$255$158$42
37 years$906$594$378$235$143$37
38 years$873$565$354$216$130$32
39 years$841$537$332$200$118$28
40 years$811$511$311$184$107$24
41 years$782$486$291$170$97$21
42 years$755$463$273$157$88$18
43 years$729$441$257$145$80$16
44 years$705$421$241$134$72$13
45 years$681$401$226$123$66$12
46 years$659$383$212$114$60$10
47 years$637$365$200$105$54$9
48 years$617$348$188$97$49$8
49 years$598$333$176$90$45$7
50 years$579$318$166$83$41$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $593,000, adding $6,947 every year, while hoping to spend $46,564 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: 85/7/8 Blend
59$593,000$593,000$593,000$593,000
60$660,652$629,223$620,031$715,636
61$678,495$610,511$591,259$733,859
62$696,597$589,322$559,961$746,817
63$714,935$565,484$526,006$759,586
64$733,484$538,818$489,253$772,118
65$752,212$509,133$449,555$784,357
66$771,084$476,226$406,761$796,244
67$790,057$439,885$360,711$807,710
68$809,087$399,883$311,238$818,681
69$828,118$355,982$258,169$829,077
70$847,091$307,929$201,322$838,805
71$865,935$255,459$140,508$847,767
72$884,574$198,290$75,528$855,853
73$902,919$136,124$6,177$862,942
74$920,870$68,648$0$868,899
75$938,317$0$0$879,368
76$955,135$0$0$889,681
77$971,182$0$0$904,555
78$986,303$0$0$918,557
79$1,000,323$0$0$931,522
80$1,013,045$0$0$943,266
81$1,024,252$0$0$953,585
82$1,033,699$0$0$962,251
83$1,041,117$0$0$969,010
84$1,046,204$0$0$973,579
85$1,048,625$0$0$975,645
86$1,048,008$0$0$974,859
87$1,043,939$0$0$970,833
88$1,035,959$0$0$963,138
89$1,023,561$0$0$951,296
90$1,006,178$0$0$934,778
91$983,186$0$0$912,999
92$953,892$0$0$885,308
93$917,528$0$0$850,988
94$873,245$0$0$809,241
95$820,102$0$0$759,187
96$757,059$0$0$699,851
97$682,964$0$0$630,154
98$596,545$0$0$548,904
99$496,395$0$0$454,782
100$380,958$0$0$346,331