Can I retire at age 60 with 599,000?

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 $599,000?

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$49,465$49,024$48,594$48,175$47,765$46,897
2 years$24,488$24,031$23,590$23,161$22,745$21,873
3 years$16,163$15,705$15,264$14,839$14,431$13,582
4 years$12,001$11,545$11,108$10,691$10,292$9,474
5 years$9,505$9,051$8,620$8,212$7,824$7,039
6 years$7,841$7,391$6,967$6,567$6,191$5,439
7 years$6,654$6,207$5,789$5,399$5,035$4,317
8 years$5,763$5,320$4,910$4,529$4,177$3,492
9 years$5,071$4,632$4,229$3,858$3,517$2,866
10 years$4,517$4,083$3,687$3,325$2,997$2,378
11 years$4,065$3,635$3,246$2,894$2,578$1,991
12 years$3,688$3,263$2,881$2,539$2,234$1,678
13 years$3,369$2,949$2,574$2,241$1,948$1,422
14 years$3,097$2,680$2,312$1,989$1,707$1,211
15 years$2,860$2,448$2,088$1,774$1,503$1,035
16 years$2,654$2,246$1,893$1,589$1,329$888
17 years$2,472$2,069$1,722$1,427$1,178$763
18 years$2,310$1,912$1,572$1,286$1,047$658
19 years$2,166$1,772$1,439$1,162$934$568
20 years$2,036$1,646$1,321$1,053$834$491
21 years$1,918$1,533$1,215$955$746$426
22 years$1,812$1,431$1,120$869$669$369
23 years$1,715$1,339$1,034$791$600$321
24 years$1,626$1,254$956$722$540$279
25 years$1,544$1,177$886$659$486$242
26 years$1,469$1,106$821$603$437$211
27 years$1,400$1,041$763$552$394$184
28 years$1,335$981$709$505$356$160
29 years$1,275$926$660$463$321$139
30 years$1,219$874$615$425$290$121
31 years$1,167$826$573$391$263$106
32 years$1,118$782$535$359$237$92
33 years$1,073$740$499$330$215$81
34 years$1,030$702$466$304$195$70
35 years$989$666$436$280$176$61
36 years$951$632$408$257$160$54
37 years$915$600$382$237$145$47
38 years$881$570$358$219$131$41
39 years$849$542$335$202$119$36
40 years$819$516$314$186$108$31
41 years$790$491$294$172$98$27
42 years$763$468$276$158$89$24
43 years$737$446$259$146$81$21
44 years$712$425$243$135$73$18
45 years$688$405$228$125$66$16
46 years$665$386$215$115$60$14
47 years$644$369$202$106$55$12
48 years$623$352$189$98$50$11
49 years$604$336$178$91$45$9
50 years$585$321$167$84$41$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $599,000, adding $6,677 every year, while hoping to spend $46,915 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: 47/37/16 Blend
59$599,000$599,000$599,000$599,000
60$666,985$635,238$625,954$695,029
61$685,101$616,448$597,006$696,389
62$703,491$595,164$565,516$692,559
63$722,136$571,216$531,349$687,387
64$741,009$544,421$494,365$680,766
65$760,082$514,587$454,416$672,582
66$779,320$481,512$411,349$662,714
67$798,684$444,979$365,003$651,032
68$818,130$404,763$315,210$637,396
69$837,605$360,622$261,795$621,657
70$857,051$312,303$204,576$603,658
71$876,402$259,538$143,361$583,227
72$895,583$202,044$77,952$560,183
73$914,509$139,520$8,140$534,332
74$933,084$71,651$0$505,466
75$951,200$0$0$484,691
76$968,737$0$0$463,431
77$985,559$0$0$470,936
78$1,001,514$0$0$477,955
79$1,016,432$0$0$484,398
80$1,030,124$0$0$490,165
81$1,042,378$0$0$495,145
82$1,052,958$0$0$499,216
83$1,061,602$0$0$502,239
84$1,068,016$0$0$504,061
85$1,071,876$0$0$504,513
86$1,072,819$0$0$503,406
87$1,070,444$0$0$500,531
88$1,064,306$0$0$495,653
89$1,053,908$0$0$488,517
90$1,038,703$0$0$478,835
91$1,018,082$0$0$466,292
92$991,370$0$0$450,535
93$957,822$0$0$431,176
94$916,609$0$0$407,785
95$866,817$0$0$379,887
96$807,433$0$0$346,954
97$737,336$0$0$308,403
98$655,286$0$0$263,591
99$559,914$0$0$211,806
100$449,705$0$0$152,261