Can I retire at age 60 with 584,000?

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 $584,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$48,226$47,797$47,377$46,968$46,569$45,892
2 years$23,874$23,430$22,999$22,581$22,176$21,495
3 years$15,758$15,312$14,882$14,468$14,069$13,406
4 years$11,701$11,256$10,830$10,423$10,034$9,394
5 years$9,267$8,825$8,405$8,006$7,628$7,012
6 years$7,645$7,206$6,792$6,403$6,036$5,445
7 years$6,487$6,052$5,644$5,264$4,909$4,343
8 years$5,619$5,187$4,787$4,416$4,072$3,532
9 years$4,944$4,516$4,123$3,761$3,429$2,914
10 years$4,404$3,981$3,594$3,242$2,922$2,432
11 years$3,963$3,544$3,164$2,822$2,513$2,047
12 years$3,596$3,181$2,808$2,475$2,178$1,735
13 years$3,285$2,875$2,509$2,185$1,899$1,480
14 years$3,019$2,613$2,254$1,940$1,665$1,268
15 years$2,789$2,387$2,035$1,730$1,466$1,090
16 years$2,587$2,190$1,845$1,549$1,295$941
17 years$2,410$2,017$1,679$1,392$1,149$814
18 years$2,252$1,864$1,533$1,254$1,021$706
19 years$2,111$1,727$1,403$1,133$910$614
20 years$1,985$1,605$1,288$1,026$813$535
21 years$1,870$1,495$1,185$931$728$466
22 years$1,767$1,396$1,092$847$652$407
23 years$1,672$1,305$1,008$771$585$356
24 years$1,585$1,223$932$703$526$312
25 years$1,506$1,148$864$642$474$273
26 years$1,432$1,079$801$587$427$239
27 years$1,364$1,015$744$538$385$210
28 years$1,302$957$691$493$347$184
29 years$1,243$902$643$452$313$162
30 years$1,189$852$599$415$283$142
31 years$1,138$806$559$381$256$125
32 years$1,090$762$521$350$232$110
33 years$1,046$722$487$322$210$96
34 years$1,004$684$455$296$190$85
35 years$965$649$425$273$172$75
36 years$928$616$398$251$156$66
37 years$893$585$372$231$141$58
38 years$859$556$349$213$128$51
39 years$828$529$327$197$116$45
40 years$798$503$306$181$105$39
41 years$770$479$287$167$95$35
42 years$744$456$269$154$87$31
43 years$718$434$253$143$79$27
44 years$694$414$237$132$71$24
45 years$671$395$223$122$65$21
46 years$649$377$209$112$59$18
47 years$628$360$197$104$53$16
48 years$608$343$185$96$49$14
49 years$589$328$174$89$44$13
50 years$570$313$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 $584,000, adding $2,480 every year, while hoping to spend $25,284 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: 53/41/6 Blend
59$584,000$584,000$584,000$584,000
60$646,126$615,174$606,122$679,347
61$685,129$618,416$599,525$705,356
62$727,263$620,969$591,860$730,652
63$772,820$622,773$583,064$757,557
64$822,123$623,763$573,071$786,228
65$875,524$623,873$561,814$816,837
66$933,413$623,028$549,220$849,577
67$996,217$621,152$535,215$884,658
68$1,064,406$618,164$519,720$922,317
69$1,138,498$613,976$502,653$962,811
70$1,219,061$608,497$483,928$1,006,430
71$1,306,721$601,630$463,456$1,053,491
72$1,402,167$593,270$441,142$1,104,346
73$1,506,157$583,309$416,889$1,159,385
74$1,619,524$571,630$390,593$1,219,038
75$1,743,186$558,110$362,149$1,283,783
76$1,878,154$542,620$331,444$1,354,145
77$2,025,539$525,022$298,360$1,430,709
78$2,186,565$505,170$262,777$1,514,120
79$2,362,580$482,909$224,565$1,605,089
80$2,555,068$458,076$183,593$1,704,405
81$2,765,662$430,499$139,721$1,812,940
82$2,996,161$399,994$92,803$1,931,656
83$3,248,545$366,370$42,687$2,061,618
84$3,524,997$329,422$0$2,204,003
85$3,827,916$288,933$0$2,360,802
86$4,159,950$244,677$0$2,535,720
87$4,524,011$196,413$0$2,727,622
88$4,923,309$143,885$0$2,938,271
89$5,361,376$86,826$0$3,169,616
90$5,842,108$24,952$0$3,423,809
91$6,369,791$0$0$3,703,225
92$6,949,149$0$0$4,029,454
93$7,585,385$0$0$4,400,132
94$8,284,231$0$0$4,807,349
95$9,052,001$0$0$5,254,792
96$9,895,651$0$0$5,746,523
97$10,822,844$0$0$6,287,015
98$11,842,023$0$0$6,881,201
99$12,962,489$0$0$7,534,509
100$14,194,488$0$0$8,252,925