Can I retire at age 60 with 590,000?

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 $590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$48,722$48,288$47,864$47,451$47,047$45,234
2 years$24,120$23,670$23,235$22,813$22,404$20,599
3 years$15,920$15,469$15,035$14,616$14,214$12,474
4 years$11,821$11,371$10,941$10,530$10,137$8,475
5 years$9,362$8,915$8,491$8,088$7,706$6,127
6 years$7,724$7,280$6,862$6,468$6,098$4,601
7 years$6,554$6,114$5,702$5,318$4,959$3,546
8 years$5,677$5,241$4,836$4,461$4,114$2,782
9 years$4,995$4,563$4,165$3,800$3,465$2,213
10 years$4,450$4,022$3,631$3,276$2,952$1,777
11 years$4,004$3,580$3,197$2,851$2,539$1,439
12 years$3,633$3,214$2,837$2,500$2,200$1,172
13 years$3,319$2,904$2,535$2,208$1,919$959
14 years$3,050$2,640$2,278$1,960$1,682$788
15 years$2,817$2,412$2,056$1,748$1,481$649
16 years$2,614$2,213$1,864$1,565$1,309$536
17 years$2,435$2,038$1,697$1,406$1,160$444
18 years$2,275$1,883$1,549$1,267$1,032$368
19 years$2,133$1,745$1,418$1,145$920$306
20 years$2,005$1,622$1,301$1,037$821$254
21 years$1,890$1,510$1,197$941$735$212
22 years$1,785$1,410$1,103$856$659$176
23 years$1,689$1,319$1,018$779$591$147
24 years$1,602$1,236$942$711$532$122
25 years$1,521$1,159$872$649$478$102
26 years$1,447$1,090$809$593$431$85
27 years$1,378$1,026$751$543$389$71
28 years$1,315$966$698$498$351$59
29 years$1,256$912$650$456$317$50
30 years$1,201$861$605$419$286$41
31 years$1,150$814$564$385$259$35
32 years$1,102$770$527$354$234$29
33 years$1,057$729$492$325$212$24
34 years$1,014$691$459$299$192$20
35 years$975$656$430$275$174$17
36 years$937$622$402$254$157$14
37 years$902$591$376$234$143$12
38 years$868$562$352$215$129$10
39 years$837$534$330$199$117$8
40 years$807$508$309$183$106$7
41 years$778$484$290$169$96$6
42 years$751$461$272$156$88$5
43 years$725$439$255$144$79$4
44 years$701$418$240$133$72$3
45 years$678$399$225$123$65$3
46 years$655$381$211$113$59$2
47 years$634$363$199$105$54$2
48 years$614$347$187$97$49$2
49 years$595$331$175$89$45$1
50 years$576$316$165$83$40$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $590,000, adding $2,330 every year, while hoping to spend $37,266 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: 61/16/23 Blend
59$590,000$590,000$590,000$590,000
60$652,583$621,313$612,168$688,289
61$679,496$612,107$593,025$703,555
62$707,905$601,201$571,992$715,919
63$737,923$588,471$548,966$728,588
64$769,674$573,789$523,839$741,599
65$803,293$557,017$496,500$754,991
66$838,928$538,009$466,831$768,812
67$876,738$516,612$434,709$783,116
68$916,901$492,661$400,007$797,962
69$959,608$465,985$362,591$813,420
70$1,005,071$436,401$322,321$829,568
71$1,053,519$403,716$279,050$846,493
72$1,105,207$367,726$232,627$864,295
73$1,160,410$328,217$182,891$883,086
74$1,219,431$284,959$129,678$902,993
75$1,282,603$237,712$72,812$924,157
76$1,350,291$186,222$12,113$946,737
77$1,422,894$130,220$0$970,913
78$1,500,851$69,423$0$1,009,809
79$1,584,643$3,530$0$1,054,738
80$1,674,800$0$0$1,103,027
81$1,771,901$0$0$1,166,940
82$1,876,584$0$0$1,236,549
83$1,989,549$0$0$1,311,701
84$2,111,565$0$0$1,392,913
85$2,243,478$0$0$1,480,752
86$2,386,217$0$0$1,575,842
87$2,540,803$0$0$1,678,869
88$2,708,360$0$0$1,790,587
89$2,890,121$0$0$1,911,825
90$3,087,446$0$0$2,043,495
91$3,301,828$0$0$2,186,601
92$3,534,910$0$0$2,342,245
93$3,788,500$0$0$2,511,643
94$4,064,586$0$0$2,696,129
95$4,365,358$0$0$2,897,174
96$4,693,223$0$0$3,116,396
97$5,050,831$0$0$3,355,576
98$5,441,102$0$0$3,616,673
99$5,867,245$0$0$3,901,845
100$6,332,796$0$0$4,213,467