Can I retire at age 60 with 586,000?

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 $586,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$48,391$47,960$47,540$47,129$46,728$45,088
2 years$23,956$23,510$23,078$22,658$22,252$20,617
3 years$15,812$15,364$14,933$14,517$14,117$12,539
4 years$11,741$11,294$10,867$10,459$10,069$8,558
5 years$9,299$8,855$8,433$8,033$7,654$6,216
6 years$7,671$7,231$6,815$6,424$6,056$4,692
7 years$6,509$6,072$5,664$5,282$4,925$3,634
8 years$5,638$5,205$4,803$4,431$4,086$2,867
9 years$4,961$4,532$4,137$3,774$3,441$2,292
10 years$4,419$3,995$3,607$3,253$2,932$1,852
11 years$3,977$3,556$3,175$2,831$2,522$1,508
12 years$3,608$3,192$2,818$2,483$2,185$1,236
13 years$3,296$2,885$2,518$2,193$1,906$1,017
14 years$3,029$2,622$2,262$1,946$1,670$841
15 years$2,798$2,395$2,042$1,736$1,471$698
16 years$2,596$2,198$1,852$1,554$1,300$580
17 years$2,418$2,024$1,685$1,396$1,153$484
18 years$2,260$1,870$1,538$1,258$1,025$404
19 years$2,119$1,733$1,408$1,137$913$338
20 years$1,992$1,611$1,292$1,030$816$283
21 years$1,877$1,500$1,189$935$730$237
22 years$1,773$1,400$1,096$850$654$199
23 years$1,678$1,310$1,012$774$587$167
24 years$1,591$1,227$936$706$528$140
25 years$1,511$1,152$866$645$475$118
26 years$1,437$1,082$804$589$428$99
27 years$1,369$1,019$746$540$386$83
28 years$1,306$960$694$494$348$70
29 years$1,247$905$646$453$314$59
30 years$1,193$855$601$416$284$50
31 years$1,142$808$561$382$257$42
32 years$1,094$765$523$351$232$35
33 years$1,049$724$488$323$210$30
34 years$1,007$687$456$297$190$25
35 years$968$651$427$274$172$21
36 years$931$618$399$252$156$18
37 years$896$587$374$232$142$15
38 years$862$558$350$214$128$13
39 years$831$530$328$197$116$11
40 years$801$505$307$182$106$9
41 years$773$480$288$168$96$7
42 years$746$458$270$155$87$6
43 years$721$436$254$143$79$5
44 years$696$416$238$132$72$4
45 years$673$396$223$122$65$4
46 years$651$378$210$113$59$3
47 years$630$361$197$104$54$3
48 years$610$344$185$96$49$2
49 years$591$329$174$89$44$2
50 years$572$314$164$82$40$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $586,000, adding $5,850 every year, while hoping to spend $50,430 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: 45/28/27 Blend
59$586,000$586,000$586,000$586,000
60$651,806$620,748$611,665$675,825
61$664,633$597,508$578,499$670,203
62$677,079$571,438$542,531$658,797
63$689,050$542,348$503,615$645,450
64$700,444$510,034$461,597$630,007
65$711,145$474,282$416,317$612,305
66$721,024$434,864$367,606$592,165
67$729,937$391,541$315,289$569,397
68$737,724$344,059$259,184$543,796
69$744,204$292,151$199,100$515,141
70$749,180$235,533$134,836$483,195
71$752,429$173,906$66,185$447,702
72$753,704$106,955$0$408,386
73$752,732$34,346$0$366,990
74$749,208$0$0$341,634
75$742,796$0$0$326,597
76$733,120$0$0$320,483
77$719,766$0$0$312,504
78$702,273$0$0$302,430
79$680,133$0$0$290,007
80$652,781$0$0$274,954
81$619,592$0$0$256,960
82$579,874$0$0$235,680
83$532,864$0$0$210,733
84$477,715$0$0$181,699
85$413,491$0$0$148,112
86$339,158$0$0$109,457
87$253,574$0$0$65,165
88$155,474$0$0$14,609
89$43,463$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0