Can I retire at age 60 with 497,000?

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 $497,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$41,042$40,676$40,320$39,971$39,631$38,424
2 years$20,318$19,939$19,573$19,217$18,872$17,666
3 years$13,411$13,031$12,665$12,313$11,973$10,807
4 years$9,958$9,579$9,217$8,870$8,539$7,421
5 years$7,887$7,510$7,153$6,813$6,492$5,424
6 years$6,506$6,132$5,780$5,449$5,137$4,121
7 years$5,521$5,150$4,803$4,480$4,177$3,214
8 years$4,782$4,415$4,074$3,758$3,466$2,554
9 years$4,207$3,844$3,509$3,201$2,918$2,057
10 years$3,748$3,388$3,059$2,759$2,487$1,674
11 years$3,373$3,016$2,693$2,401$2,139$1,374
12 years$3,060$2,707$2,390$2,106$1,853$1,135
13 years$2,796$2,446$2,135$1,860$1,616$942
14 years$2,569$2,224$1,919$1,651$1,417$785
15 years$2,373$2,031$1,732$1,472$1,247$657
16 years$2,202$1,864$1,571$1,318$1,102$551
17 years$2,051$1,716$1,429$1,184$977$463
18 years$1,917$1,586$1,305$1,067$869$390
19 years$1,797$1,470$1,194$964$775$329
20 years$1,689$1,366$1,096$873$692$278
21 years$1,592$1,272$1,008$793$619$235
22 years$1,503$1,188$929$721$555$199
23 years$1,423$1,111$858$656$498$169
24 years$1,349$1,041$793$599$448$143
25 years$1,281$977$735$547$403$121
26 years$1,219$918$682$500$363$103
27 years$1,161$864$633$458$327$88
28 years$1,108$814$588$419$295$74
29 years$1,058$768$548$384$267$63
30 years$1,012$725$510$353$241$54
31 years$968$686$475$324$218$46
32 years$928$649$444$298$197$39
33 years$890$614$414$274$178$33
34 years$854$582$387$252$161$28
35 years$821$552$362$232$146$24
36 years$789$524$338$214$132$20
37 years$760$498$317$197$120$17
38 years$731$473$297$181$109$15
39 years$705$450$278$167$99$13
40 years$679$428$261$154$90$11
41 years$656$407$244$142$81$9
42 years$633$388$229$131$74$8
43 years$611$370$215$121$67$7
44 years$591$352$202$112$61$6
45 years$571$336$190$103$55$5
46 years$552$321$178$96$50$4
47 years$534$306$167$88$45$3
48 years$517$292$157$82$41$3
49 years$501$279$148$75$37$2
50 years$485$266$139$70$34$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $497,000, adding $6,519 every year, while hoping to spend $31,467 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: 62/26/12 Blend
59$497,000$497,000$497,000$497,000
60$554,418$528,077$520,374$586,827
61$577,488$520,472$504,326$601,742
62$601,857$511,440$486,685$613,824
63$627,623$500,878$467,366$626,239
64$654,895$488,676$446,278$639,019
65$683,792$474,718$423,325$652,202
66$714,442$458,882$398,410$665,830
67$746,987$441,039$371,428$679,951
68$781,581$421,052$342,273$694,622
69$818,393$398,774$310,830$709,903
70$857,609$374,054$276,982$725,864
71$899,430$346,728$240,606$742,586
72$944,079$316,624$201,574$760,156
73$991,799$283,563$159,750$778,674
74$1,042,856$247,351$114,995$798,254
75$1,097,543$207,786$67,163$819,021
76$1,156,179$164,655$16,100$841,118
77$1,219,117$117,731$0$864,702
78$1,286,743$66,775$0$894,869
79$1,359,479$11,535$0$929,421
80$1,437,791$0$0$966,539
81$1,522,191$0$0$1,020,301
82$1,613,237$0$0$1,081,887
83$1,711,548$0$0$1,148,416
84$1,817,800$0$0$1,220,351
85$1,932,737$0$0$1,298,199
86$2,057,178$0$0$1,382,518
87$2,192,022$0$0$1,473,924
88$2,338,258$0$0$1,573,090
89$2,496,973$0$0$1,680,758
90$2,669,364$0$0$1,797,747
91$2,856,746$0$0$1,924,953
92$3,060,567$0$0$2,063,364
93$3,282,420$0$0$2,214,069
94$3,524,056$0$0$2,378,264
95$3,787,405$0$0$2,557,264
96$4,074,587$0$0$2,752,520
97$4,387,940$0$0$2,965,626
98$4,730,033$0$0$3,198,337
99$5,103,698$0$0$3,452,587
100$5,512,049$0$0$3,730,503