Can I retire at age 60 with 496,000?

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 $496,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$40,959$40,594$40,238$39,891$39,552$38,179
2 years$20,277$19,899$19,533$19,178$18,834$17,465
3 years$13,384$13,004$12,639$12,288$11,949$10,627
4 years$9,938$9,560$9,198$8,853$8,522$7,257
5 years$7,871$7,495$7,138$6,800$6,478$5,274
6 years$6,493$6,120$5,769$5,438$5,126$3,983
7 years$5,510$5,140$4,794$4,471$4,169$3,087
8 years$4,772$4,406$4,066$3,750$3,459$2,437
9 years$4,199$3,836$3,502$3,194$2,913$1,949
10 years$3,741$3,381$3,053$2,754$2,482$1,576
11 years$3,366$3,010$2,688$2,397$2,134$1,284
12 years$3,054$2,702$2,385$2,102$1,850$1,053
13 years$2,790$2,441$2,131$1,856$1,613$868
14 years$2,564$2,219$1,915$1,647$1,414$718
15 years$2,368$2,027$1,729$1,469$1,245$596
16 years$2,197$1,860$1,567$1,315$1,100$496
17 years$2,047$1,713$1,426$1,182$976$413
18 years$1,913$1,583$1,302$1,065$867$345
19 years$1,793$1,467$1,192$962$773$289
20 years$1,686$1,363$1,094$872$691$242
21 years$1,589$1,270$1,006$791$618$203
22 years$1,500$1,185$927$719$554$171
23 years$1,420$1,109$856$655$497$143
24 years$1,346$1,039$792$597$447$120
25 years$1,279$975$733$546$402$101
26 years$1,216$916$680$499$362$85
27 years$1,159$862$632$457$327$72
28 years$1,105$812$587$418$295$60
29 years$1,056$766$546$384$266$51
30 years$1,010$724$509$352$240$43
31 years$966$684$475$323$217$36
32 years$926$647$443$297$197$30
33 years$888$613$413$273$178$26
34 years$853$581$386$251$161$22
35 years$819$551$361$231$146$18
36 years$788$523$338$213$132$15
37 years$758$497$316$196$120$13
38 years$730$472$296$181$109$11
39 years$703$449$277$167$99$9
40 years$678$427$260$154$89$8
41 years$654$407$244$142$81$7
42 years$631$387$229$131$74$5
43 years$610$369$215$121$67$5
44 years$589$352$201$112$61$4
45 years$570$335$189$103$55$3
46 years$551$320$178$95$50$3
47 years$533$305$167$88$45$2
48 years$516$291$157$81$41$2
49 years$500$278$147$75$37$2
50 years$484$266$139$70$34$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $496,000, adding $2,738 every year, while hoping to spend $26,406 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: 30/43/27 Blend
59$496,000$496,000$496,000$496,000
60$549,416$523,128$515,440$561,264
61$577,361$520,666$504,612$568,247
62$607,271$517,198$492,535$573,255
63$639,319$512,647$479,142$578,115
64$673,694$506,931$464,358$582,833
65$710,604$499,964$448,107$587,418
66$750,277$491,654$430,310$591,880
67$792,964$481,903$410,883$596,235
68$838,938$470,608$389,740$600,504
69$888,502$457,660$366,788$604,712
70$941,987$442,943$341,934$608,889
71$999,758$426,336$315,077$613,074
72$1,062,214$407,707$286,113$617,310
73$1,129,797$386,921$254,934$621,653
74$1,202,988$363,833$221,427$626,163
75$1,282,321$338,289$185,473$630,916
76$1,368,380$310,127$146,948$635,996
77$1,461,807$279,175$105,723$641,504
78$1,563,310$245,254$61,664$647,554
79$1,673,667$208,170$14,629$654,277
80$1,793,733$167,723$0$661,824
81$1,924,452$123,699$0$680,614
82$2,066,857$75,872$0$705,761
83$2,222,091$24,004$0$733,315
84$2,391,407$0$0$763,576
85$2,576,188$0$0$812,097
86$2,777,953$0$0$877,554
87$2,998,377$0$0$949,140
88$3,239,301$0$0$1,027,462
89$3,502,756$0$0$1,113,192
90$3,790,973$0$0$1,207,065
91$4,106,413$0$0$1,309,893
92$4,451,785$0$0$1,422,570
93$4,830,069$0$0$1,546,082
94$5,244,550$0$0$1,681,511
95$5,698,846$0$0$1,830,053
96$6,196,940$0$0$1,993,022
97$6,743,219$0$0$2,171,867
98$7,342,515$0$0$2,368,185
99$8,000,151$0$0$2,583,734
100$8,721,990$0$0$2,820,448