Can I retire at age 60 with 597,000?

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 $597,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$49,300$48,861$48,432$48,014$47,606$47,385
2 years$24,406$23,951$23,511$23,084$22,669$22,447
3 years$16,109$15,652$15,213$14,790$14,382$14,165
4 years$11,961$11,506$11,071$10,655$10,258$10,046
5 years$9,473$9,021$8,592$8,184$7,798$7,594
6 years$7,815$7,366$6,943$6,545$6,170$5,973
7 years$6,631$6,186$5,770$5,381$5,018$4,829
8 years$5,744$5,303$4,893$4,514$4,163$3,981
9 years$5,054$4,617$4,215$3,845$3,506$3,331
10 years$4,502$4,070$3,674$3,314$2,987$2,820
11 years$4,051$3,623$3,235$2,885$2,569$2,409
12 years$3,676$3,252$2,871$2,530$2,226$2,074
13 years$3,358$2,939$2,565$2,234$1,941$1,796
14 years$3,086$2,671$2,305$1,983$1,702$1,563
15 years$2,851$2,440$2,081$1,768$1,498$1,366
16 years$2,645$2,239$1,887$1,583$1,324$1,199
17 years$2,463$2,062$1,717$1,423$1,174$1,055
18 years$2,302$1,905$1,567$1,282$1,044$931
19 years$2,158$1,766$1,435$1,158$931$823
20 years$2,029$1,641$1,317$1,049$831$730
21 years$1,912$1,528$1,211$952$744$648
22 years$1,806$1,427$1,116$866$667$576
23 years$1,709$1,334$1,031$788$598$513
24 years$1,621$1,250$953$719$538$457
25 years$1,539$1,173$883$657$484$408
26 years$1,464$1,103$819$601$436$364
27 years$1,395$1,038$760$550$393$326
28 years$1,331$978$707$504$355$291
29 years$1,271$922$658$462$320$261
30 years$1,215$871$613$424$289$234
31 years$1,163$824$571$389$262$209
32 years$1,115$779$533$358$237$188
33 years$1,069$738$498$329$214$168
34 years$1,026$699$465$303$194$151
35 years$986$663$435$279$176$136
36 years$948$630$407$257$159$122
37 years$912$598$381$236$144$109
38 years$879$568$356$218$131$98
39 years$847$540$334$201$119$88
40 years$816$514$313$185$108$79
41 years$787$489$293$171$98$71
42 years$760$466$275$158$89$64
43 years$734$444$258$146$80$58
44 years$709$423$242$135$73$52
45 years$686$404$228$124$66$47
46 years$663$385$214$115$60$42
47 years$642$368$201$106$55$38
48 years$621$351$189$98$50$34
49 years$602$335$177$91$45$30
50 years$583$320$167$84$41$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $597,000, adding $5,791 every year, while hoping to spend $46,188 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: 48/37/15 Blend
59$597,000$597,000$597,000$597,000
60$663,867$632,226$622,973$692,691
61$682,438$614,062$594,699$695,056
62$701,355$593,459$563,930$692,407
63$720,605$570,250$530,533$688,519
64$740,171$544,257$494,370$683,293
65$760,034$515,291$455,297$676,622
66$780,170$483,153$413,162$668,394
67$800,553$447,633$367,808$658,489
68$821,150$408,508$319,071$646,777
69$841,925$365,542$266,777$633,121
70$862,834$318,487$210,747$617,375
71$883,830$267,079$150,794$599,382
72$904,857$211,042$86,722$578,974
73$925,851$150,082$18,325$555,972
74$946,740$83,888$0$530,186
75$967,444$12,135$0$510,159
76$987,869$0$0$490,623
77$1,007,913$0$0$495,124
78$1,027,458$0$0$504,265
79$1,046,375$0$0$513,035
80$1,064,515$0$0$521,357
81$1,081,715$0$0$529,140
82$1,097,792$0$0$536,288
83$1,112,539$0$0$542,690
84$1,125,727$0$0$548,224
85$1,137,101$0$0$552,752
86$1,146,377$0$0$556,124
87$1,153,238$0$0$558,170
88$1,157,332$0$0$558,702
89$1,158,266$0$0$557,511
90$1,155,607$0$0$554,367
91$1,148,871$0$0$549,012
92$1,137,523$0$0$541,160
93$1,120,969$0$0$530,497
94$1,098,550$0$0$516,671
95$1,069,537$0$0$499,295
96$1,033,120$0$0$477,939
97$988,406$0$0$452,127
98$934,402$0$0$421,335
99$870,014$0$0$384,978
100$794,027$0$0$342,415