Can I retire at age 60 with 470,000?

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 $470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$38,812$38,466$38,129$37,800$37,478$36,979
2 years$19,214$18,856$18,509$18,173$17,847$17,345
3 years$12,682$12,323$11,977$11,644$11,323$10,834
4 years$9,417$9,058$8,716$8,389$8,076$7,603
5 years$7,458$7,102$6,764$6,443$6,139$5,684
6 years$6,153$5,799$5,466$5,153$4,857$4,421
7 years$5,221$4,870$4,543$4,236$3,950$3,532
8 years$4,522$4,175$3,852$3,554$3,277$2,878
9 years$3,979$3,635$3,318$3,027$2,760$2,379
10 years$3,545$3,204$2,893$2,609$2,352$1,988
11 years$3,190$2,852$2,547$2,271$2,022$1,677
12 years$2,894$2,560$2,260$1,992$1,753$1,424
13 years$2,644$2,314$2,019$1,759$1,528$1,217
14 years$2,430$2,103$1,814$1,561$1,340$1,044
15 years$2,244$1,921$1,638$1,392$1,180$900
16 years$2,082$1,763$1,485$1,247$1,043$778
17 years$1,939$1,623$1,351$1,120$924$675
18 years$1,813$1,500$1,234$1,009$822$587
19 years$1,699$1,390$1,129$912$733$511
20 years$1,597$1,292$1,037$826$654$446
21 years$1,505$1,203$953$750$586$390
22 years$1,422$1,123$879$682$525$341
23 years$1,346$1,050$811$621$471$299
24 years$1,276$984$750$566$423$262
25 years$1,212$924$695$517$381$230
26 years$1,153$868$645$473$343$202
27 years$1,098$817$599$433$309$178
28 years$1,048$770$556$396$279$157
29 years$1,001$726$518$364$252$138
30 years$957$686$482$334$228$121
31 years$916$648$450$306$206$107
32 years$878$613$420$282$186$94
33 years$842$581$392$259$169$83
34 years$808$551$366$238$153$73
35 years$776$522$342$219$138$65
36 years$746$496$320$202$125$57
37 years$718$471$300$186$114$50
38 years$692$447$281$172$103$44
39 years$666$425$263$158$93$39
40 years$643$405$246$146$85$34
41 years$620$385$231$135$77$30
42 years$598$367$217$124$70$27
43 years$578$350$203$115$63$24
44 years$558$333$191$106$57$21
45 years$540$318$179$98$52$18
46 years$522$303$168$90$47$16
47 years$505$289$158$83$43$14
48 years$489$276$149$77$39$13
49 years$474$264$140$71$35$11
50 years$459$252$131$66$32$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $470,000, adding $6,680 every year, while hoping to spend $28,107 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: 44/48/8 Blend
59$470,000$470,000$470,000$470,000
60$524,830$499,920$492,635$546,441
61$548,457$494,511$479,233$556,681
62$573,552$487,894$464,440$564,361
63$600,235$479,982$448,179$572,040
64$628,638$470,679$430,371$579,726
65$658,903$459,887$410,933$587,434
66$691,189$447,499$389,778$595,178
67$725,669$433,405$366,813$602,979
68$762,530$417,485$341,945$610,861
69$801,981$399,614$315,073$618,853
70$844,249$379,661$286,093$626,991
71$889,582$357,485$254,897$635,315
72$938,255$332,937$221,372$643,875
73$990,568$305,862$185,399$652,727
74$1,046,850$276,093$146,853$661,938
75$1,107,462$243,455$105,607$671,584
76$1,172,803$207,764$61,524$681,754
77$1,243,309$168,824$14,465$692,550
78$1,319,459$126,429$0$704,087
79$1,401,780$80,361$0$719,552
80$1,490,852$30,388$0$737,560
81$1,587,311$0$0$757,061
82$1,691,857$0$0$790,800
83$1,805,260$0$0$844,856
84$1,928,366$0$0$903,588
85$2,062,106$0$0$967,446
86$2,207,506$0$0$1,036,926
87$2,365,690$0$0$1,112,572
88$2,537,899$0$0$1,194,986
89$2,725,497$0$0$1,284,828
90$2,929,986$0$0$1,382,824
91$3,153,016$0$0$1,489,774
92$3,396,407$0$0$1,606,559
93$3,662,160$0$0$1,734,148
94$3,952,479$0$0$1,873,609
95$4,269,788$0$0$2,026,115
96$4,616,759$0$0$2,192,962
97$4,996,332$0$0$2,375,572
98$5,411,744$0$0$2,575,515
99$5,866,560$0$0$2,794,518
100$6,364,707$0$0$3,034,482