Can I retire at age 60 with 551,000?

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 $551,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$45,501$45,096$44,700$44,314$43,938$43,497
2 years$22,525$22,106$21,699$21,305$20,923$20,479
3 years$14,868$14,446$14,041$13,650$13,274$12,841
4 years$11,040$10,620$10,218$9,834$9,467$9,048
5 years$8,743$8,326$7,930$7,554$7,197$6,793
6 years$7,213$6,799$6,408$6,041$5,695$5,306
7 years$6,120$5,710$5,325$4,966$4,631$4,259
8 years$5,301$4,894$4,516$4,166$3,842$3,485
9 years$4,665$4,261$3,890$3,549$3,236$2,894
10 years$4,155$3,756$3,391$3,059$2,757$2,431
11 years$3,739$3,344$2,986$2,662$2,371$2,060
12 years$3,393$3,001$2,650$2,335$2,055$1,759
13 years$3,099$2,712$2,367$2,062$1,792$1,511
14 years$2,848$2,465$2,127$1,830$1,571$1,304
15 years$2,631$2,252$1,920$1,632$1,383$1,130
16 years$2,441$2,066$1,741$1,461$1,222$982
17 years$2,274$1,903$1,584$1,313$1,084$857
18 years$2,125$1,758$1,446$1,183$964$749
19 years$1,992$1,630$1,324$1,069$859$656
20 years$1,873$1,514$1,215$968$767$576
21 years$1,765$1,411$1,118$879$686$507
22 years$1,667$1,317$1,030$799$615$446
23 years$1,577$1,232$951$728$552$393
24 years$1,496$1,154$880$664$496$347
25 years$1,421$1,083$815$606$447$307
26 years$1,351$1,018$756$554$402$271
27 years$1,287$958$702$507$363$240
28 years$1,228$903$652$465$327$212
29 years$1,173$851$607$426$296$188
30 years$1,122$804$565$391$267$167
31 years$1,074$760$527$359$241$148
32 years$1,029$719$492$330$218$131
33 years$987$681$459$304$198$116
34 years$947$646$429$279$179$103
35 years$910$612$401$257$162$92
36 years$875$581$375$237$147$81
37 years$842$552$351$218$133$72
38 years$811$525$329$201$121$64
39 years$781$499$308$185$109$57
40 years$753$475$289$171$99$51
41 years$727$452$271$158$90$45
42 years$702$430$254$146$82$40
43 years$678$410$238$134$74$36
44 years$655$391$224$124$67$32
45 years$633$373$210$115$61$28
46 years$612$355$197$106$55$25
47 years$592$339$185$98$50$22
48 years$573$324$174$90$46$20
49 years$555$309$164$84$42$18
50 years$538$295$154$77$38$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $551,000, adding $4,554 every year, while hoping to spend $41,812 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: 77/13/10 Blend
59$551,000$551,000$551,000$551,000
60$611,899$582,696$574,156$657,608
61$629,826$566,761$548,903$672,377
62$648,179$548,643$521,402$682,761
63$666,958$528,192$491,534$692,948
64$686,163$505,248$459,175$702,902
65$705,788$479,642$424,194$712,583
66$725,828$451,194$386,454$721,949
67$746,276$419,716$345,814$730,951
68$767,122$385,008$302,125$739,540
69$788,353$346,858$255,230$747,660
70$809,953$305,042$204,969$755,251
71$831,904$259,325$151,171$762,246
72$854,184$209,457$93,660$768,575
73$876,764$155,174$32,252$774,161
74$899,615$96,199$0$778,918
75$922,699$32,236$0$786,307
76$945,974$0$0$796,579
77$969,392$0$0$811,501
78$992,897$0$0$831,097
79$1,016,425$0$0$850,702
80$1,039,904$0$0$870,254
81$1,063,252$0$0$889,683
82$1,086,376$0$0$908,909
83$1,109,170$0$0$927,844
84$1,131,516$0$0$946,386
85$1,153,282$0$0$964,422
86$1,174,319$0$0$981,826
87$1,194,458$0$0$998,454
88$1,213,513$0$0$1,014,147
89$1,231,273$0$0$1,028,727
90$1,247,506$0$0$1,041,996
91$1,261,950$0$0$1,053,730
92$1,274,314$0$0$1,063,683
93$1,284,273$0$0$1,071,579
94$1,291,468$0$0$1,077,111
95$1,295,497$0$0$1,079,940
96$1,295,915$0$0$1,079,685
97$1,292,225$0$0$1,075,926
98$1,283,880$0$0$1,068,196
99$1,270,268$0$0$1,055,977
100$1,250,714$0$0$1,038,695