Can I retire at age 60 with 542,000?

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 $542,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$44,758$44,359$43,970$43,591$43,220$42,330
2 years$22,157$21,745$21,345$20,957$20,581$19,688
3 years$14,625$14,210$13,811$13,427$13,057$12,190
4 years$10,859$10,446$10,051$9,674$9,313$8,477
5 years$8,601$8,190$7,800$7,430$7,079$6,278
6 years$7,095$6,688$6,304$5,942$5,602$4,836
7 years$6,020$5,616$5,238$4,885$4,556$3,825
8 years$5,215$4,814$4,443$4,098$3,779$3,084
9 years$4,588$4,192$3,826$3,491$3,183$2,522
10 years$4,088$3,695$3,336$3,009$2,712$2,085
11 years$3,678$3,289$2,937$2,619$2,332$1,738
12 years$3,337$2,952$2,606$2,297$2,021$1,460
13 years$3,049$2,668$2,329$2,028$1,762$1,232
14 years$2,802$2,425$2,092$1,800$1,545$1,045
15 years$2,588$2,215$1,889$1,605$1,360$890
16 years$2,401$2,033$1,713$1,437$1,202$760
17 years$2,237$1,872$1,559$1,292$1,066$650
18 years$2,090$1,730$1,423$1,164$948$558
19 years$1,960$1,603$1,302$1,052$845$480
20 years$1,842$1,490$1,195$953$755$413
21 years$1,736$1,388$1,099$864$675$356
22 years$1,640$1,295$1,013$786$605$308
23 years$1,552$1,211$936$716$543$266
24 years$1,471$1,135$865$653$488$230
25 years$1,397$1,065$801$596$439$199
26 years$1,329$1,001$743$545$396$172
27 years$1,266$942$690$499$357$149
28 years$1,208$888$642$457$322$129
29 years$1,154$837$597$419$291$112
30 years$1,103$791$556$385$263$97
31 years$1,056$748$519$353$238$84
32 years$1,012$707$484$325$215$73
33 years$971$670$452$299$194$64
34 years$932$635$422$275$176$55
35 years$895$602$395$253$159$48
36 years$861$572$369$233$144$42
37 years$828$543$345$215$131$36
38 years$798$516$324$198$119$32
39 years$769$491$303$182$108$27
40 years$741$467$284$168$98$24
41 years$715$444$266$155$89$21
42 years$690$423$250$143$80$18
43 years$666$403$234$132$73$16
44 years$644$384$220$122$66$14
45 years$623$367$207$113$60$12
46 years$602$350$194$104$55$10
47 years$583$334$182$96$50$9
48 years$564$319$171$89$45$8
49 years$546$304$161$82$41$7
50 years$529$291$151$76$37$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $542,000, adding $5,083 every year, while hoping to spend $35,653 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: 76/12/12 Blend
59$542,000$542,000$542,000$542,000
60$602,527$573,801$565,400$646,521
61$626,050$563,983$546,407$666,405
62$650,778$552,489$525,582$683,190
63$676,795$539,198$502,827$700,593
64$704,195$523,986$478,038$718,663
65$733,078$506,716$451,107$737,454
66$763,554$487,248$421,922$757,026
67$795,744$465,430$390,363$777,447
68$829,777$441,103$356,308$798,791
69$865,798$414,100$319,627$821,140
70$903,961$384,243$280,186$844,586
71$944,436$351,343$237,844$869,231
72$987,411$315,201$192,454$895,187
73$1,033,089$275,607$143,863$922,580
74$1,081,692$232,340$91,911$951,547
75$1,133,464$185,164$36,429$982,245
76$1,188,673$133,832$0$1,014,842
77$1,247,609$78,082$0$1,052,446
78$1,310,595$17,638$0$1,097,518
79$1,377,981$0$0$1,145,644
80$1,450,152$0$0$1,203,420
81$1,527,530$0$0$1,267,876
82$1,610,578$0$0$1,337,070
83$1,699,806$0$0$1,411,427
84$1,795,771$0$0$1,491,416
85$1,899,086$0$0$1,577,548
86$2,010,423$0$0$1,670,386
87$2,130,523$0$0$1,770,550
88$2,260,196$0$0$1,878,719
89$2,400,335$0$0$1,995,640
90$2,551,920$0$0$2,122,133
91$2,716,030$0$0$2,259,101
92$2,893,849$0$0$2,407,536
93$3,086,681$0$0$2,568,529
94$3,295,958$0$0$2,743,278
95$3,523,255$0$0$2,933,104
96$3,770,307$0$0$3,139,458
97$4,039,020$0$0$3,363,936
98$4,331,492$0$0$3,608,294
99$4,650,032$0$0$3,874,466
100$4,997,180$0$0$4,164,578