Can I retire at age 60 with 512,000?

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 $512,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$42,280$41,904$41,536$41,178$40,828$40,351
2 years$20,931$20,541$20,163$19,797$19,442$18,962
3 years$13,815$13,424$13,047$12,684$12,335$11,867
4 years$10,258$9,868$9,495$9,138$8,797$8,344
5 years$8,125$7,737$7,368$7,019$6,687$6,251
6 years$6,703$6,318$5,955$5,613$5,292$4,873
7 years$5,687$5,305$4,948$4,615$4,303$3,902
8 years$4,926$4,548$4,197$3,871$3,570$3,186
9 years$4,334$3,960$3,615$3,298$3,007$2,640
10 years$3,861$3,490$3,151$2,842$2,562$2,212
11 years$3,475$3,107$2,774$2,474$2,203$1,870
12 years$3,152$2,789$2,462$2,170$1,909$1,592
13 years$2,880$2,520$2,200$1,916$1,665$1,364
14 years$2,647$2,291$1,977$1,701$1,459$1,174
15 years$2,445$2,093$1,785$1,517$1,285$1,015
16 years$2,268$1,920$1,618$1,358$1,136$880
17 years$2,113$1,768$1,472$1,220$1,007$765
18 years$1,975$1,634$1,344$1,100$895$667
19 years$1,851$1,514$1,230$994$798$583
20 years$1,740$1,407$1,129$900$713$510
21 years$1,640$1,311$1,039$817$638$447
22 years$1,549$1,224$957$743$572$393
23 years$1,466$1,144$884$676$513$345
24 years$1,390$1,072$817$617$461$304
25 years$1,320$1,006$757$563$415$267
26 years$1,256$946$702$515$374$236
27 years$1,196$890$652$471$337$208
28 years$1,141$839$606$432$304$183
29 years$1,090$791$564$396$275$162
30 years$1,042$747$525$363$248$143
31 years$998$706$490$334$224$126
32 years$956$668$457$307$203$112
33 years$917$633$427$282$184$99
34 years$880$600$399$260$166$87
35 years$846$569$373$239$151$77
36 years$813$540$349$220$136$68
37 years$782$513$326$203$124$61
38 years$753$487$306$187$112$54
39 years$726$463$286$172$102$48
40 years$700$441$268$159$92$42
41 years$675$420$252$147$84$37
42 years$652$400$236$135$76$33
43 years$630$381$222$125$69$29
44 years$608$363$208$115$63$26
45 years$588$346$195$107$57$23
46 years$569$330$183$98$52$20
47 years$550$315$172$91$47$18
48 years$533$301$162$84$43$16
49 years$516$287$152$78$39$14
50 years$500$274$143$72$35$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $512,000, adding $5,160 every year, while hoping to spend $20,928 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: 44/44/12 Blend
59$512,000$512,000$512,000$512,000
60$569,547$542,411$534,475$592,427
61$605,373$546,721$530,112$613,191
62$644,152$550,542$524,902$633,162
63$686,164$553,827$518,794$654,342
64$731,714$556,526$511,736$676,851
65$781,141$558,587$503,670$700,822
66$834,815$559,955$494,541$726,403
67$893,144$560,572$484,287$753,756
68$956,579$560,374$472,844$783,063
69$1,025,612$559,294$460,147$814,525
70$1,100,788$557,263$446,125$848,363
71$1,182,704$554,205$430,706$884,824
72$1,272,020$550,040$413,814$924,182
73$1,369,459$544,685$395,370$966,738
74$1,475,819$538,050$375,290$1,012,829
75$1,591,978$530,040$353,488$1,062,825
76$1,718,902$520,555$329,873$1,117,138
77$1,857,656$509,488$304,349$1,176,222
78$2,009,411$496,727$276,819$1,240,582
79$2,175,456$482,152$247,178$1,310,774
80$2,357,212$465,637$215,318$1,387,416
81$2,556,243$447,048$181,126$1,471,191
82$2,774,271$426,245$144,485$1,562,854
83$3,013,192$403,076$105,270$1,663,240
84$3,275,096$377,385$63,355$1,773,273
85$3,562,282$349,003$18,604$1,893,975
86$3,877,284$317,754$0$2,026,475
87$4,222,894$283,451$0$2,175,755
88$4,602,186$245,896$0$2,342,248
89$5,018,544$204,880$0$2,525,114
90$5,475,699$160,183$0$2,726,060
91$5,977,760$111,572$0$2,946,970
92$6,529,253$58,800$0$3,189,925
93$7,135,164$1,608$0$3,457,223
94$7,800,985$0$0$3,751,400
95$8,532,767$0$0$4,104,443
96$9,337,179$0$0$4,493,449
97$10,221,563$0$0$4,921,199
98$11,194,013$0$0$5,391,617
99$12,263,442$0$0$5,909,024
100$13,439,674$0$0$6,478,181