Can I retire at age 60 with 594,000?

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 $594,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$49,052$48,615$48,189$47,773$47,366$46,833
2 years$24,283$23,831$23,393$22,968$22,555$22,018
3 years$16,028$15,574$15,137$14,716$14,310$13,786
4 years$11,901$11,448$11,016$10,602$10,206$9,699
5 years$9,426$8,976$8,549$8,143$7,758$7,270
6 years$7,776$7,329$6,908$6,512$6,139$5,670
7 years$6,598$6,155$5,741$5,354$4,993$4,543
8 years$5,715$5,276$4,869$4,491$4,142$3,712
9 years$5,029$4,594$4,193$3,826$3,488$3,077
10 years$4,480$4,049$3,656$3,298$2,972$2,580
11 years$4,031$3,605$3,219$2,870$2,556$2,182
12 years$3,657$3,235$2,856$2,517$2,215$1,860
13 years$3,341$2,924$2,552$2,222$1,932$1,594
14 years$3,071$2,658$2,293$1,973$1,693$1,373
15 years$2,836$2,428$2,070$1,759$1,491$1,187
16 years$2,632$2,228$1,877$1,575$1,318$1,030
17 years$2,451$2,051$1,708$1,415$1,168$897
18 years$2,291$1,896$1,559$1,276$1,039$782
19 years$2,148$1,757$1,427$1,153$926$684
20 years$2,019$1,633$1,310$1,044$827$599
21 years$1,902$1,521$1,205$947$740$526
22 years$1,797$1,420$1,111$861$663$462
23 years$1,701$1,328$1,025$785$595$406
24 years$1,612$1,244$948$716$535$358
25 years$1,531$1,167$878$653$482$315
26 years$1,457$1,097$815$597$434$278
27 years$1,388$1,033$756$547$391$245
28 years$1,324$973$703$501$353$217
29 years$1,264$918$654$460$319$192
30 years$1,209$867$610$422$288$169
31 years$1,157$819$568$387$260$150
32 years$1,109$775$530$356$235$133
33 years$1,064$734$495$327$213$117
34 years$1,021$696$463$301$193$104
35 years$981$660$432$277$175$92
36 years$943$626$405$255$158$81
37 years$908$595$379$235$144$72
38 years$874$565$355$217$130$64
39 years$842$538$332$200$118$57
40 years$812$512$311$184$107$50
41 years$783$487$292$170$97$45
42 years$756$464$274$157$88$39
43 years$730$442$257$145$80$35
44 years$706$421$241$134$73$31
45 years$682$402$227$124$66$28
46 years$660$383$213$114$60$24
47 years$639$366$200$105$54$22
48 years$618$349$188$97$49$19
49 years$599$333$177$90$45$17
50 years$580$318$166$83$41$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $594,000, adding $6,180 every year, while hoping to spend $28,638 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: 75/10/15 Blend
59$594,000$594,000$594,000$594,000
60$660,963$629,481$620,274$707,925
61$697,910$629,855$610,582$740,184
62$737,667$629,287$599,606$771,364
63$780,488$627,702$587,273$804,763
64$826,656$625,017$573,505$840,593
65$876,480$621,148$558,222$879,089
66$930,299$616,002$541,340$920,507
67$988,487$609,484$522,773$965,134
68$1,051,454$601,490$502,427$1,013,284
69$1,119,651$591,912$480,207$1,065,302
70$1,193,574$580,634$456,013$1,121,572
71$1,273,769$567,535$429,739$1,182,515
72$1,360,834$552,485$401,276$1,248,597
73$1,455,430$535,348$370,510$1,320,330
74$1,558,282$515,978$337,320$1,398,280
75$1,670,189$494,223$301,582$1,483,073
76$1,792,028$469,920$263,165$1,575,396
77$1,924,767$442,898$221,933$1,676,010
78$2,069,468$412,975$177,743$1,785,753
79$2,227,303$379,960$130,446$1,905,548
80$2,399,559$343,649$79,888$2,036,416
81$2,587,656$303,830$25,906$2,179,482
82$2,793,153$260,274$0$2,335,985
83$3,017,771$212,743$0$2,512,369
84$3,263,400$160,984$0$2,709,822
85$3,532,125$104,730$0$2,925,887
86$3,826,239$43,700$0$3,162,432
87$4,148,269$0$0$3,421,512
88$4,500,996$0$0$3,707,859
89$4,887,483$0$0$4,026,907
90$5,311,106$0$0$4,376,633
91$5,775,578$0$0$4,760,110
92$6,284,992$0$0$5,180,719
93$6,843,857$0$0$5,642,185
94$7,457,136$0$0$6,148,611
95$8,130,299$0$0$6,704,517
96$8,869,369$0$0$7,314,880
97$9,680,982$0$0$7,985,186
98$10,572,449$0$0$8,721,474
99$11,551,821$0$0$9,530,401
100$12,627,970$0$0$10,419,297