Can I retire at age 60 with 582,000?

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 $582,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$48,061$47,633$47,215$46,808$46,409$45,754
2 years$23,793$23,349$22,920$22,504$22,100$21,440
3 years$15,704$15,259$14,831$14,418$14,021$13,378
4 years$11,661$11,217$10,793$10,388$10,000$9,379
5 years$9,235$8,794$8,376$7,979$7,602$7,005
6 years$7,619$7,181$6,769$6,381$6,015$5,442
7 years$6,465$6,031$5,625$5,246$4,892$4,344
8 years$5,600$5,169$4,770$4,401$4,058$3,534
9 years$4,927$4,501$4,109$3,748$3,418$2,918
10 years$4,389$3,967$3,582$3,231$2,912$2,436
11 years$3,950$3,532$3,154$2,812$2,504$2,052
12 years$3,583$3,170$2,799$2,467$2,170$1,741
13 years$3,274$2,865$2,501$2,178$1,893$1,485
14 years$3,009$2,604$2,247$1,933$1,659$1,273
15 years$2,779$2,379$2,028$1,724$1,461$1,096
16 years$2,578$2,183$1,839$1,544$1,291$946
17 years$2,402$2,010$1,674$1,387$1,145$820
18 years$2,245$1,857$1,528$1,250$1,018$712
19 years$2,104$1,721$1,399$1,129$907$619
20 years$1,978$1,600$1,284$1,023$810$539
21 years$1,864$1,490$1,181$928$725$471
22 years$1,761$1,391$1,088$844$650$411
23 years$1,666$1,301$1,005$769$583$360
24 years$1,580$1,219$929$701$524$315
25 years$1,500$1,144$861$640$472$276
26 years$1,427$1,075$798$585$425$242
27 years$1,360$1,012$741$536$383$213
28 years$1,297$953$689$491$346$187
29 years$1,239$899$641$450$312$164
30 years$1,185$849$597$413$282$144
31 years$1,134$803$557$379$255$127
32 years$1,087$760$519$349$231$112
33 years$1,042$719$485$321$209$98
34 years$1,001$682$453$295$189$86
35 years$961$647$424$272$171$76
36 years$924$614$396$250$155$67
37 years$889$583$371$230$141$59
38 years$856$554$347$212$127$52
39 years$825$527$325$196$116$46
40 years$796$501$305$181$105$40
41 years$768$477$286$167$95$36
42 years$741$454$268$154$86$31
43 years$716$433$252$142$78$28
44 years$691$413$236$131$71$24
45 years$669$394$222$121$65$21
46 years$647$375$208$112$59$19
47 years$626$358$196$103$53$17
48 years$606$342$184$95$48$15
49 years$587$327$173$88$44$13
50 years$568$312$163$82$40$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $582,000, adding $2,230 every year, while hoping to spend $34,628 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: 64/23/13 Blend
59$582,000$582,000$582,000$582,000
60$643,664$612,818$603,797$682,755
61$672,474$606,002$587,181$702,364
62$703,062$597,692$568,847$719,563
63$735,573$587,777$548,701$737,490
64$770,164$576,142$526,646$756,216
65$807,011$562,663$502,579$775,821
66$846,302$547,209$476,391$796,391
67$888,245$529,643$447,971$818,026
68$933,069$509,818$417,200$840,835
69$981,023$487,580$383,957$864,941
70$1,032,380$462,764$348,113$890,480
71$1,087,442$435,199$309,534$917,604
72$1,146,538$404,700$268,080$946,483
73$1,210,029$371,074$223,604$977,305
74$1,278,312$334,117$175,955$1,010,282
75$1,351,823$293,612$124,973$1,045,646
76$1,431,040$249,331$70,491$1,083,657
77$1,516,490$201,031$12,336$1,124,606
78$1,608,749$148,459$0$1,168,814
79$1,708,452$91,344$0$1,223,534
80$1,816,297$29,403$0$1,284,542
81$1,933,050$0$0$1,350,592
82$2,059,554$0$0$1,431,735
83$2,196,735$0$0$1,527,830
84$2,345,612$0$0$1,632,153
85$2,507,306$0$0$1,745,495
86$2,683,050$0$0$1,868,724
87$2,874,200$0$0$2,002,795
88$3,082,248$0$0$2,148,761
89$3,308,835$0$0$2,307,778
90$3,555,768$0$0$2,481,120
91$3,825,036$0$0$2,670,189
92$4,118,826$0$0$2,876,526
93$4,439,548$0$0$3,101,829
94$4,789,852$0$0$3,347,969
95$5,172,657$0$0$3,617,002
96$5,591,177$0$0$3,911,194
97$6,048,950$0$0$4,233,039
98$6,549,871$0$0$4,585,284
99$7,098,229$0$0$4,970,953
100$7,698,749$0$0$5,393,376