Can I retire at age 60 with 554,000?

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 $554,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$45,749$45,341$44,944$44,556$44,177$42,900
2 years$22,648$22,226$21,817$21,421$21,037$19,761
3 years$14,949$14,525$14,117$13,725$13,346$12,111
4 years$11,100$10,677$10,274$9,888$9,519$8,333
5 years$8,791$8,371$7,973$7,595$7,236$6,104
6 years$7,252$6,836$6,443$6,074$5,726$4,648
7 years$6,154$5,741$5,354$4,993$4,656$3,633
8 years$5,330$4,921$4,541$4,189$3,863$2,893
9 years$4,690$4,284$3,911$3,568$3,253$2,336
10 years$4,178$3,777$3,410$3,076$2,772$1,906
11 years$3,760$3,362$3,002$2,677$2,384$1,568
12 years$3,411$3,018$2,664$2,348$2,066$1,299
13 years$3,116$2,727$2,380$2,073$1,801$1,081
14 years$2,864$2,479$2,139$1,840$1,579$904
15 years$2,645$2,264$1,931$1,641$1,390$758
16 years$2,454$2,078$1,751$1,469$1,229$638
17 years$2,286$1,913$1,593$1,320$1,090$538
18 years$2,137$1,768$1,454$1,190$969$455
19 years$2,003$1,639$1,331$1,075$864$385
20 years$1,883$1,523$1,222$974$771$326
21 years$1,774$1,418$1,124$884$690$277
22 years$1,676$1,324$1,036$803$619$235
23 years$1,586$1,238$956$732$555$200
24 years$1,504$1,160$884$667$499$170
25 years$1,428$1,089$819$609$449$145
26 years$1,359$1,023$760$557$405$123
27 years$1,294$963$705$510$365$105
28 years$1,235$907$656$467$329$89
29 years$1,179$856$610$429$297$76
30 years$1,128$808$568$393$269$65
31 years$1,080$764$530$361$243$55
32 years$1,034$723$494$332$220$47
33 years$992$685$462$305$199$40
34 years$952$649$431$281$180$34
35 years$915$616$403$259$163$29
36 years$880$584$377$238$148$25
37 years$847$555$353$219$134$21
38 years$815$527$331$202$121$18
39 years$786$502$310$186$110$16
40 years$757$477$290$172$100$13
41 years$731$454$272$159$91$11
42 years$705$433$255$146$82$10
43 years$681$412$240$135$75$8
44 years$658$393$225$125$68$7
45 years$636$375$211$115$61$6
46 years$615$357$198$106$56$5
47 years$596$341$186$98$51$4
48 years$577$326$175$91$46$4
49 years$558$311$165$84$42$3
50 years$541$297$155$78$38$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $554,000, adding $6,307 every year, while hoping to spend $23,527 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: 36/37/27 Blend
59$554,000$554,000$554,000$554,000
60$617,014$587,652$579,065$634,036
61$654,917$591,414$573,431$650,976
62$695,897$594,572$566,820$666,666
63$740,244$597,072$559,174$683,148
64$788,275$598,855$550,433$700,509
65$840,341$599,860$540,533$718,847
66$896,824$600,022$529,410$738,271
67$958,148$599,270$516,993$758,902
68$1,024,777$597,533$503,210$780,875
69$1,097,222$594,730$487,985$804,342
70$1,176,046$590,779$471,241$829,472
71$1,261,868$585,593$452,892$856,453
72$1,355,369$579,077$432,854$885,494
73$1,457,297$571,132$411,036$916,831
74$1,568,478$561,655$387,342$950,721
75$1,689,820$550,532$361,675$987,456
76$1,822,321$537,648$333,930$1,027,357
77$1,967,081$522,876$304,001$1,070,782
78$2,125,312$506,086$271,773$1,118,128
79$2,298,347$487,137$237,131$1,169,838
80$2,487,653$465,881$199,949$1,226,402
81$2,694,847$442,163$160,101$1,288,366
82$2,921,708$415,816$117,451$1,356,333
83$3,170,197$386,665$71,860$1,430,974
84$3,442,472$354,526$23,182$1,513,033
85$3,740,909$319,203$0$1,603,334
86$4,068,127$280,490$0$1,711,080
87$4,427,010$238,167$0$1,836,660
88$4,820,732$192,005$0$1,974,561
89$5,252,792$141,758$0$2,126,074
90$5,727,043$87,171$0$2,292,627
91$6,247,730$27,970$0$2,475,799
92$6,819,527$0$0$2,677,333
93$7,447,585$0$0$2,913,864
94$8,137,577$0$0$3,186,315
95$8,895,755$0$0$3,485,775
96$9,729,003$0$0$3,814,976
97$10,644,908$0$0$4,176,925
98$11,651,827$0$0$4,574,937
99$12,758,967$0$0$5,012,663
100$13,976,474$0$0$5,494,126