Can I retire at age 60 with 380,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $380,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$31,380$31,101$30,828$30,562$30,302$30,035
2 years$15,535$15,245$14,965$14,693$14,429$14,161
3 years$10,254$9,963$9,683$9,414$9,155$8,892
4 years$7,614$7,324$7,047$6,782$6,529$6,275
5 years$6,030$5,742$5,469$5,209$4,963$4,718
6 years$4,975$4,689$4,420$4,166$3,927$3,692
7 years$4,221$3,938$3,673$3,425$3,194$2,968
8 years$3,656$3,375$3,115$2,873$2,650$2,433
9 years$3,217$2,939$2,683$2,447$2,231$2,024
10 years$2,866$2,590$2,339$2,110$1,901$1,703
11 years$2,579$2,306$2,059$1,836$1,635$1,446
12 years$2,340$2,070$1,827$1,610$1,417$1,237
13 years$2,138$1,871$1,633$1,422$1,236$1,064
14 years$1,964$1,700$1,467$1,262$1,083$920
15 years$1,815$1,553$1,324$1,126$954$799
16 years$1,684$1,425$1,201$1,008$843$696
17 years$1,568$1,312$1,093$906$747$609
18 years$1,466$1,213$997$816$665$533
19 years$1,374$1,124$913$737$592$468
20 years$1,291$1,044$838$668$529$412
21 years$1,217$973$771$606$473$363
22 years$1,149$908$710$551$424$320
23 years$1,088$849$656$502$381$283
24 years$1,031$796$607$458$342$251
25 years$980$747$562$418$308$222
26 years$932$702$521$382$278$197
27 years$888$661$484$350$250$174
28 years$847$622$450$321$226$155
29 years$809$587$419$294$204$137
30 years$774$555$390$270$184$122
31 years$740$524$364$248$167$108
32 years$710$496$339$228$151$96
33 years$681$470$317$209$136$86
34 years$653$445$296$193$123$76
35 years$628$422$277$177$112$68
36 years$604$401$259$163$101$61
37 years$581$381$242$150$92$54
38 years$559$362$227$139$83$48
39 years$539$344$213$128$75$43
40 years$520$327$199$118$68$38
41 years$501$312$187$109$62$34
42 years$484$297$175$100$56$30
43 years$467$283$164$93$51$27
44 years$451$269$154$86$46$24
45 years$436$257$145$79$42$21
46 years$422$245$136$73$38$19
47 years$409$234$128$67$35$17
48 years$395$223$120$62$32$15
49 years$383$213$113$58$29$14
50 years$371$204$106$53$26$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $380,000, adding $2,693 every year, while hoping to spend $24,610 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: 26/47/27 Blend
59$380,000$380,000$380,000$380,000
60$421,538$401,398$395,508$428,882
61$438,350$394,881$382,572$428,574
62$456,052$387,221$368,379$425,956
63$474,709$378,334$352,859$422,640
64$494,391$368,135$335,942$418,581
65$515,175$356,530$317,553$413,736
66$537,146$343,423$297,614$408,060
67$560,395$328,710$276,043$401,505
68$585,021$312,283$252,757$394,022
69$611,135$294,027$227,666$385,562
70$638,855$273,818$200,677$376,071
71$668,312$251,529$171,693$365,499
72$699,649$227,023$140,614$353,788
73$733,022$200,156$107,334$340,886
74$768,603$170,776$71,742$326,733
75$806,578$138,722$33,723$311,274
76$847,154$103,824$0$294,449
77$890,554$65,903$0$278,172
78$937,027$24,768$0$270,909
79$986,843$0$0$262,910
80$1,040,299$0$0$264,388
81$1,097,720$0$0$279,780
82$1,159,464$0$0$296,376
83$1,225,924$0$0$314,290
84$1,297,531$0$0$333,642
85$1,374,759$0$0$354,569
86$1,458,128$0$0$377,217
87$1,548,209$0$0$401,749
88$1,645,632$0$0$428,344
89$1,751,085$0$0$457,199
90$1,865,330$0$0$488,530
91$1,989,200$0$0$522,575
92$2,123,613$0$0$559,595
93$2,269,579$0$0$599,878
94$2,428,209$0$0$643,741
95$2,600,723$0$0$691,532
96$2,788,466$0$0$743,635
97$2,992,917$0$0$800,472
98$3,215,702$0$0$862,507
99$3,458,614$0$0$930,252
100$3,723,621$0$0$1,004,269