Can I retire at age 60 with 597,000?

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 $597,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$49,300$48,861$48,432$48,014$47,606$47,050
2 years$24,406$23,951$23,511$23,084$22,669$22,110
3 years$16,109$15,652$15,213$14,790$14,382$13,837
4 years$11,961$11,506$11,071$10,655$10,258$9,730
5 years$9,473$9,021$8,592$8,184$7,798$7,289
6 years$7,815$7,366$6,943$6,545$6,170$5,682
7 years$6,631$6,186$5,770$5,381$5,018$4,550
8 years$5,744$5,303$4,893$4,514$4,163$3,715
9 years$5,054$4,617$4,215$3,845$3,506$3,078
10 years$4,502$4,070$3,674$3,314$2,987$2,579
11 years$4,051$3,623$3,235$2,885$2,569$2,181
12 years$3,676$3,252$2,871$2,530$2,226$1,857
13 years$3,358$2,939$2,565$2,234$1,941$1,590
14 years$3,086$2,671$2,305$1,983$1,702$1,369
15 years$2,851$2,440$2,081$1,768$1,498$1,183
16 years$2,645$2,239$1,887$1,583$1,324$1,026
17 years$2,463$2,062$1,717$1,423$1,174$892
18 years$2,302$1,905$1,567$1,282$1,044$778
19 years$2,158$1,766$1,435$1,158$931$680
20 years$2,029$1,641$1,317$1,049$831$595
21 years$1,912$1,528$1,211$952$744$522
22 years$1,806$1,427$1,116$866$667$458
23 years$1,709$1,334$1,031$788$598$402
24 years$1,621$1,250$953$719$538$354
25 years$1,539$1,173$883$657$484$312
26 years$1,464$1,103$819$601$436$275
27 years$1,395$1,038$760$550$393$242
28 years$1,331$978$707$504$355$214
29 years$1,271$922$658$462$320$189
30 years$1,215$871$613$424$289$167
31 years$1,163$824$571$389$262$147
32 years$1,115$779$533$358$237$130
33 years$1,069$738$498$329$214$115
34 years$1,026$699$465$303$194$102
35 years$986$663$435$279$176$90
36 years$948$630$407$257$159$80
37 years$912$598$381$236$144$71
38 years$879$568$356$218$131$63
39 years$847$540$334$201$119$55
40 years$816$514$313$185$108$49
41 years$787$489$293$171$98$43
42 years$760$466$275$158$89$39
43 years$734$444$258$146$80$34
44 years$709$423$242$135$73$30
45 years$686$404$228$124$66$27
46 years$663$385$214$115$60$24
47 years$642$368$201$106$55$21
48 years$621$351$189$98$50$19
49 years$602$335$177$91$45$17
50 years$583$320$167$84$41$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $597,000, adding $3,315 every year, while hoping to spend $37,846 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: 49/31/20 Blend
59$597,000$597,000$597,000$597,000
60$661,313$629,672$620,419$689,854
61$688,500$620,259$600,935$700,585
62$717,190$609,115$579,530$708,121
63$747,499$596,117$556,100$715,511
64$779,550$581,132$530,535$722,757
65$813,477$564,021$502,721$729,864
66$849,429$544,636$472,540$736,839
67$887,568$522,820$439,867$743,691
68$928,068$498,406$404,571$750,435
69$971,124$471,221$366,516$757,092
70$1,016,945$441,078$325,562$763,683
71$1,065,764$407,780$281,558$770,242
72$1,117,832$371,122$234,351$776,803
73$1,173,427$330,883$183,778$783,413
74$1,232,853$286,833$129,670$790,125
75$1,296,441$238,725$71,852$797,003
76$1,364,558$186,302$10,138$804,121
77$1,437,602$129,290$0$811,569
78$1,516,014$67,402$0$831,337
79$1,600,275$332$0$854,736
80$1,690,913$0$0$879,780
81$1,788,510$0$0$931,315
82$1,893,704$0$0$987,033
83$2,007,194$0$0$1,047,196
84$2,129,750$0$0$1,112,220
85$2,262,219$0$0$1,182,559
86$2,405,530$0$0$1,258,716
87$2,560,704$0$0$1,341,240
88$2,728,865$0$0$1,430,736
89$2,911,248$0$0$1,527,871
90$3,109,210$0$0$1,633,377
91$3,324,248$0$0$1,748,058
92$3,558,002$0$0$1,872,802
93$3,812,283$0$0$2,008,582
94$4,089,077$0$0$2,156,471
95$4,390,575$0$0$2,317,650
96$4,719,185$0$0$2,493,418
97$5,077,557$0$0$2,685,204
98$5,468,610$0$0$2,894,582
99$5,895,553$0$0$3,123,285
100$6,361,923$0$0$3,373,219