Can I retire at age 60 with 596,000?

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 $596,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$49,217$48,779$48,351$47,934$47,526$46,115
2 years$24,365$23,911$23,471$23,045$22,631$21,222
3 years$16,082$15,626$15,188$14,765$14,358$12,994
4 years$11,941$11,487$11,053$10,637$10,240$8,932
5 years$9,457$9,006$8,577$8,171$7,785$6,536
6 years$7,802$7,354$6,932$6,534$6,160$4,971
7 years$6,620$6,176$5,760$5,372$5,009$3,881
8 years$5,734$5,294$4,885$4,506$4,156$3,087
9 years$5,046$4,609$4,208$3,839$3,500$2,490
10 years$4,495$4,063$3,668$3,309$2,982$2,029
11 years$4,045$3,617$3,230$2,880$2,565$1,667
12 years$3,670$3,246$2,866$2,526$2,222$1,379
13 years$3,353$2,934$2,561$2,230$1,938$1,146
14 years$3,081$2,667$2,301$1,980$1,699$957
15 years$2,846$2,436$2,077$1,765$1,496$802
16 years$2,641$2,235$1,883$1,581$1,322$673
17 years$2,459$2,058$1,714$1,420$1,172$567
18 years$2,299$1,902$1,564$1,280$1,042$478
19 years$2,155$1,763$1,432$1,157$929$404
20 years$2,026$1,638$1,314$1,047$830$342
21 years$1,909$1,526$1,209$951$743$290
22 years$1,803$1,424$1,114$864$666$246
23 years$1,706$1,332$1,029$787$597$209
24 years$1,618$1,248$951$718$537$177
25 years$1,537$1,171$881$656$483$151
26 years$1,462$1,101$817$600$435$128
27 years$1,393$1,036$759$549$392$109
28 years$1,328$976$706$503$354$93
29 years$1,269$921$657$461$320$79
30 years$1,213$870$612$423$289$67
31 years$1,161$822$570$389$261$57
32 years$1,113$778$532$357$236$49
33 years$1,067$737$497$328$214$41
34 years$1,025$698$464$302$194$35
35 years$984$662$434$278$175$30
36 years$947$629$406$256$159$26
37 years$911$597$380$236$144$22
38 years$877$567$356$218$131$19
39 years$845$540$333$201$118$16
40 years$815$513$312$185$107$14
41 years$786$489$293$171$97$12
42 years$759$465$275$158$88$10
43 years$733$443$258$145$80$8
44 years$708$423$242$134$73$7
45 years$685$403$227$124$66$6
46 years$662$384$213$115$60$5
47 years$641$367$201$106$55$4
48 years$620$350$188$98$49$4
49 years$601$334$177$90$45$3
50 years$582$320$167$84$41$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $596,000, adding $3,905 every year, while hoping to spend $42,466 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: 68/5/27 Blend
59$596,000$596,000$596,000$596,000
60$660,820$629,232$619,994$700,876
61$683,040$614,881$595,580$713,940
62$706,103$598,403$568,925$723,036
63$730,051$579,650$539,910$732,020
64$754,927$558,464$508,407$740,882
65$780,778$534,677$474,288$749,611
66$807,655$508,114$437,414$758,199
67$835,611$478,587$397,642$766,636
68$864,705$445,899$354,825$774,914
69$894,997$409,840$308,804$783,024
70$926,556$370,191$259,417$790,959
71$959,451$326,717$206,495$798,714
72$993,762$279,173$149,859$806,284
73$1,029,570$227,296$89,323$813,666
74$1,066,965$170,813$24,695$820,858
75$1,106,045$109,432$0$827,863
76$1,146,913$42,847$0$847,439
77$1,189,684$0$0$875,258
78$1,234,480$0$0$905,883
79$1,281,433$0$0$940,463
80$1,330,689$0$0$976,750
81$1,382,403$0$0$1,014,859
82$1,436,745$0$0$1,054,918
83$1,493,900$0$0$1,097,063
84$1,554,069$0$0$1,141,446
85$1,617,470$0$0$1,188,228
86$1,684,343$0$0$1,237,589
87$1,754,946$0$0$1,289,722
88$1,829,563$0$0$1,344,838
89$1,908,502$0$0$1,403,168
90$1,992,102$0$0$1,464,964
91$2,080,730$0$0$1,530,501
92$2,174,790$0$0$1,600,081
93$2,274,720$0$0$1,674,032
94$2,381,005$0$0$1,752,715
95$2,494,169$0$0$1,836,523
96$2,614,790$0$0$1,925,888
97$2,743,501$0$0$2,021,282
98$2,880,994$0$0$2,123,224
99$3,028,026$0$0$2,232,281
100$3,185,431$0$0$2,349,075