Can I retire at age 60 with 588,000?

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 $588,000?

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$48,556$48,124$47,702$47,290$46,888$45,242
2 years$24,038$23,590$23,156$22,736$22,328$20,687
3 years$15,866$15,416$14,984$14,567$14,166$12,581
4 years$11,781$11,333$10,904$10,495$10,103$8,587
5 years$9,331$8,885$8,462$8,061$7,680$6,237
6 years$7,697$7,255$6,839$6,446$6,077$4,708
7 years$6,531$6,093$5,683$5,300$4,942$3,646
8 years$5,657$5,223$4,820$4,446$4,100$2,877
9 years$4,978$4,547$4,151$3,787$3,453$2,300
10 years$4,434$4,008$3,619$3,264$2,942$1,858
11 years$3,990$3,568$3,186$2,841$2,530$1,513
12 years$3,620$3,203$2,828$2,492$2,193$1,240
13 years$3,308$2,894$2,526$2,200$1,912$1,021
14 years$3,040$2,631$2,270$1,953$1,676$844
15 years$2,808$2,403$2,049$1,742$1,476$700
16 years$2,605$2,205$1,858$1,559$1,304$582
17 years$2,426$2,031$1,691$1,401$1,156$485
18 years$2,268$1,877$1,543$1,263$1,028$405
19 years$2,126$1,739$1,413$1,141$917$339
20 years$1,998$1,616$1,297$1,033$819$284
21 years$1,883$1,505$1,193$938$733$238
22 years$1,779$1,405$1,099$853$657$199
23 years$1,683$1,314$1,015$777$589$167
24 years$1,596$1,231$939$708$530$141
25 years$1,516$1,156$869$647$477$118
26 years$1,442$1,086$806$591$429$99
27 years$1,374$1,022$749$541$387$83
28 years$1,311$963$696$496$349$70
29 years$1,252$909$648$455$315$59
30 years$1,197$858$603$417$285$50
31 years$1,146$811$563$383$258$42
32 years$1,098$768$525$352$233$35
33 years$1,053$727$490$324$211$30
34 years$1,011$689$458$298$191$25
35 years$971$653$428$274$173$21
36 years$934$620$400$253$157$18
37 years$899$589$375$233$142$15
38 years$865$560$351$215$129$13
39 years$834$532$329$198$117$11
40 years$804$506$308$183$106$9
41 years$776$482$289$168$96$8
42 years$749$459$271$155$87$6
43 years$723$437$254$143$79$5
44 years$699$417$239$132$72$4
45 years$675$398$224$122$65$4
46 years$653$379$211$113$59$3
47 years$632$362$198$104$54$3
48 years$612$346$186$96$49$2
49 years$593$330$175$89$44$2
50 years$574$315$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 $588,000, adding $4,518 every year, while hoping to spend $25,795 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: 62/21/17 Blend
59$588,000$588,000$588,000$588,000
60$652,636$621,472$612,358$690,030
61$691,760$624,479$605,427$718,749
62$734,009$626,768$597,398$746,778
63$779,676$628,278$588,209$776,768
64$829,081$628,941$577,792$808,912
65$882,576$628,689$566,078$843,424
66$940,550$627,445$552,992$880,538
67$1,003,427$625,131$538,458$920,515
68$1,071,676$621,662$522,396$963,642
69$1,145,812$616,949$504,722$1,010,236
70$1,226,403$610,897$485,347$1,060,650
71$1,314,071$603,406$464,181$1,115,269
72$1,409,501$594,368$441,127$1,174,523
73$1,513,450$583,672$416,084$1,238,886
74$1,626,747$571,197$388,949$1,308,878
75$1,750,307$556,817$359,610$1,385,079
76$1,885,135$540,398$327,954$1,468,126
77$2,032,339$521,798$293,860$1,558,724
78$2,193,138$500,866$257,205$1,657,649
79$2,368,874$477,444$217,857$1,765,762
80$2,561,024$451,364$175,679$1,884,010
81$2,771,214$422,447$130,531$2,013,442
82$3,001,237$390,505$82,262$2,155,213
83$3,253,063$355,340$30,718$2,310,600
84$3,528,865$316,742$0$2,481,012
85$3,831,035$274,488$0$2,672,410
86$4,162,206$228,343$0$2,888,339
87$4,525,280$178,060$0$3,125,147
88$4,923,451$123,378$0$3,384,960
89$5,360,237$64,018$0$3,670,121
90$5,839,516$0$0$3,983,214
91$6,365,556$0$0$4,327,159
92$6,943,060$0$0$4,721,038
93$7,577,208$0$0$5,153,598
94$8,273,707$0$0$5,628,735
95$9,038,843$0$0$6,150,744
96$9,879,541$0$0$6,724,357
97$10,803,431$0$0$7,354,784
98$11,818,917$0$0$8,047,768
99$12,935,259$0$0$8,809,635
100$14,162,658$0$0$9,647,353