Can I retire at age 60 with 595,000?

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 $595,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$49,135$48,697$48,270$47,853$47,446$45,909
2 years$24,324$23,871$23,432$23,006$22,593$21,059
3 years$16,055$15,600$15,162$14,740$14,334$12,851
4 years$11,921$11,468$11,034$10,620$10,223$8,803
5 years$9,442$8,991$8,563$8,157$7,772$6,417
6 years$7,789$7,342$6,920$6,523$6,149$4,862
7 years$6,609$6,165$5,751$5,363$5,001$3,781
8 years$5,725$5,285$4,877$4,499$4,149$2,995
9 years$5,037$4,602$4,201$3,832$3,494$2,405
10 years$4,487$4,056$3,662$3,303$2,977$1,952
11 years$4,038$3,611$3,224$2,875$2,560$1,597
12 years$3,663$3,241$2,861$2,522$2,219$1,314
13 years$3,347$2,929$2,556$2,226$1,935$1,087
14 years$3,076$2,662$2,297$1,976$1,696$903
15 years$2,841$2,432$2,074$1,762$1,493$753
16 years$2,636$2,231$1,880$1,578$1,320$629
17 years$2,455$2,055$1,711$1,418$1,170$527
18 years$2,295$1,899$1,562$1,278$1,041$443
19 years$2,151$1,760$1,430$1,155$927$372
20 years$2,022$1,635$1,312$1,046$828$313
21 years$1,906$1,523$1,207$949$741$264
22 years$1,800$1,422$1,112$863$664$222
23 years$1,703$1,330$1,027$786$596$188
24 years$1,615$1,246$950$717$536$159
25 years$1,534$1,169$880$655$482$134
26 years$1,459$1,099$816$599$435$113
27 years$1,390$1,034$758$548$392$96
28 years$1,326$975$704$502$354$81
29 years$1,267$919$655$460$319$69
30 years$1,211$868$611$422$288$58
31 years$1,159$821$569$388$261$49
32 years$1,111$777$531$357$236$42
33 years$1,066$735$496$328$213$35
34 years$1,023$697$463$302$193$30
35 years$983$661$433$278$175$25
36 years$945$628$405$256$159$21
37 years$909$596$379$236$144$18
38 years$876$566$355$217$130$15
39 years$844$539$333$200$118$13
40 years$813$512$312$185$107$11
41 years$785$488$292$170$97$9
42 years$758$465$274$157$88$8
43 years$732$443$257$145$80$7
44 years$707$422$242$134$73$6
45 years$683$402$227$124$66$5
46 years$661$384$213$114$60$4
47 years$640$366$200$106$54$3
48 years$619$350$188$98$49$3
49 years$600$334$177$90$45$2
50 years$581$319$166$83$41$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $595,000, adding $3,893 every year, while hoping to spend $21,599 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: 48/44/8 Blend
59$595,000$595,000$595,000$595,000
60$659,706$628,171$618,948$689,777
61$704,014$635,970$616,702$718,605
62$752,119$643,427$613,656$747,293
63$804,383$650,503$609,762$777,938
64$861,208$657,156$604,967$810,727
65$923,035$663,340$599,217$845,868
66$990,349$669,008$592,454$883,591
67$1,063,683$674,108$584,620$924,150
68$1,143,625$678,586$575,652$967,825
69$1,230,822$682,384$565,483$1,014,927
70$1,325,985$685,440$554,047$1,065,797
71$1,429,898$687,689$541,270$1,120,815
72$1,543,423$689,061$527,077$1,180,397
73$1,667,510$689,482$511,392$1,245,006
74$1,803,202$688,874$494,130$1,315,151
75$1,951,653$687,152$475,207$1,391,395
76$2,114,127$684,229$454,532$1,474,361
77$2,292,021$680,009$432,012$1,564,734
78$2,486,872$674,394$407,549$1,663,275
79$2,700,370$667,277$381,040$1,770,820
80$2,934,381$658,546$352,377$1,888,295
81$3,190,955$648,082$321,449$2,016,722
82$3,472,354$635,760$288,140$2,157,228
83$3,781,067$621,445$252,325$2,311,058
84$4,119,837$604,997$213,879$2,479,588
85$4,491,684$586,265$172,668$2,664,335
86$4,899,935$565,092$128,552$2,866,975
87$5,348,257$541,309$81,386$3,089,357
88$5,840,685$514,740$31,019$3,333,523
89$6,381,669$485,196$0$3,601,726
90$6,976,109$452,480$0$3,898,393
91$7,629,401$416,381$0$4,227,280
92$8,347,494$376,677$0$4,588,780
93$9,136,939$333,135$0$4,986,249
94$10,004,954$285,506$0$5,423,393
95$10,959,493$233,529$0$5,904,296
96$12,009,316$176,927$0$6,433,465
97$13,164,078$115,409$0$7,015,873
98$14,434,415$48,664$0$7,657,003
99$15,832,045$0$0$8,362,904
100$17,369,882$0$0$9,151,688