Can I retire at age 60 with 488,000?

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 $488,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$40,299$39,940$39,589$39,248$38,914$38,428
2 years$19,950$19,578$19,218$18,869$18,530$18,041
3 years$13,168$12,795$12,435$12,090$11,756$11,279
4 years$9,777$9,405$9,050$8,710$8,385$7,924
5 years$7,744$7,374$7,023$6,690$6,374$5,930
6 years$6,388$6,021$5,676$5,350$5,044$4,617
7 years$5,421$5,057$4,716$4,399$4,102$3,693
8 years$4,695$4,335$4,000$3,690$3,403$3,012
9 years$4,131$3,774$3,445$3,143$2,866$2,493
10 years$3,680$3,327$3,004$2,709$2,442$2,086
11 years$3,312$2,961$2,644$2,358$2,100$1,762
12 years$3,005$2,658$2,347$2,068$1,820$1,498
13 years$2,745$2,402$2,097$1,826$1,587$1,282
14 years$2,523$2,183$1,884$1,621$1,391$1,102
15 years$2,330$1,995$1,701$1,445$1,225$951
16 years$2,162$1,830$1,542$1,294$1,082$823
17 years$2,014$1,685$1,403$1,163$960$715
18 years$1,882$1,557$1,281$1,048$853$623
19 years$1,764$1,443$1,173$947$761$543
20 years$1,659$1,341$1,076$858$679$475
21 years$1,563$1,249$990$778$608$416
22 years$1,476$1,166$912$708$545$364
23 years$1,397$1,091$842$645$489$320
24 years$1,325$1,022$779$588$440$281
25 years$1,258$959$722$537$396$247
26 years$1,197$901$669$491$356$217
27 years$1,140$848$621$449$321$191
28 years$1,088$799$578$412$290$169
29 years$1,039$754$538$378$262$149
30 years$993$712$501$346$237$131
31 years$951$673$467$318$214$116
32 years$911$637$436$292$193$102
33 years$874$603$407$269$175$90
34 years$839$572$380$247$159$80
35 years$806$542$355$228$144$70
36 years$775$515$332$210$130$62
37 years$746$489$311$193$118$55
38 years$718$465$291$178$107$49
39 years$692$442$273$164$97$43
40 years$667$420$256$152$88$38
41 years$644$400$240$140$80$34
42 years$621$381$225$129$72$30
43 years$600$363$211$119$66$26
44 years$580$346$198$110$60$23
45 years$561$330$186$102$54$21
46 years$542$315$175$94$49$18
47 years$525$300$164$87$45$16
48 years$508$287$154$80$41$14
49 years$492$274$145$74$37$13
50 years$476$262$136$68$33$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $488,000, adding $2,355 every year, while hoping to spend $35,436 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: 77/11/12 Blend
59$488,000$488,000$488,000$488,000
60$540,205$514,341$506,777$580,372
61$557,602$501,840$486,051$594,651
62$575,587$487,539$463,442$605,562
63$594,180$471,312$438,851$616,525
64$613,406$453,026$412,172$627,532
65$633,290$432,541$383,297$638,574
66$653,858$409,708$352,109$649,642
67$675,137$384,368$318,490$660,726
68$697,155$356,357$282,314$671,817
69$719,944$325,497$243,450$682,903
70$743,535$291,604$201,762$693,973
71$767,962$254,479$157,108$705,017
72$793,261$213,915$109,338$716,022
73$819,471$169,694$58,298$726,976
74$846,630$121,582$3,824$737,866
75$874,782$69,336$0$748,679
76$903,973$12,696$0$766,357
77$934,249$0$0$784,905
78$965,664$0$0$809,729
79$998,270$0$0$837,092
80$1,032,126$0$0$865,506
81$1,067,295$0$0$895,024
82$1,103,843$0$0$925,702
83$1,141,840$0$0$957,599
84$1,181,364$0$0$990,781
85$1,222,495$0$0$1,025,315
86$1,265,322$0$0$1,061,276
87$1,309,938$0$0$1,098,744
88$1,356,445$0$0$1,137,804
89$1,404,951$0$0$1,178,548
90$1,455,575$0$0$1,221,076
91$1,508,443$0$0$1,265,495
92$1,563,693$0$0$1,311,920
93$1,621,471$0$0$1,360,477
94$1,681,939$0$0$1,411,301
95$1,745,269$0$0$1,464,539
96$1,811,650$0$0$1,520,349
97$1,881,285$0$0$1,578,905
98$1,954,396$0$0$1,640,393
99$2,031,223$0$0$1,705,016
100$2,112,026$0$0$1,772,997