Can I Retire at 60?
At 60 the early-withdrawal penalty is nearly behind you. Here's the number and the last few gaps to plan.
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What this calculator does
Retiring at 60 is far simpler than retiring in your 50s: you're already past 59½, so your 401(k) and IRA are available penalty-free. The gaps left are smaller — 5 years until Medicare (65) and 2 years until the earliest Social Security (62). This calculator shows the nest egg you need to retire at 60 and whether your plan reaches it.
Common questions
How much do I need to retire at 60?
About 25× your annual spending as a baseline (the 4% rule). A retirement starting at 60 typically runs 25–30+ years, so the standard 4% rule holds up well. Enter your spending above for your exact figure.
Can I withdraw from my 401(k) at 60 without penalty?
Yes. The 10% early-withdrawal penalty only applies before age 59½, so at 60 you can draw from traditional 401(k)s and IRAs penalty-free. You'll still owe ordinary income tax on traditional (pre-tax) withdrawals; Roth withdrawals of contributions are tax-free.
When should I take Social Security if I retire at 60?
You can't claim until 62, and claiming at 62 permanently reduces your benefit (by roughly 25–30% versus your full retirement age of 66–67). Many people who retire at 60 spend down savings first and delay Social Security to increase the eventual benefit. This is general information, not personal advice.
What about health insurance from 60 to 65?
You'll need coverage for the 5 years before Medicare at 65 — most commonly via the ACA marketplace, where income-based subsidies can substantially lower premiums for early retirees living off savings.