Can I retire at age 60 with 398,000?

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 $398,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$32,866$32,574$32,288$32,009$31,737$31,406
2 years$16,271$15,968$15,674$15,389$15,113$14,779
3 years$10,739$10,435$10,142$9,860$9,588$9,262
4 years$7,974$7,671$7,381$7,104$6,838$6,523
5 years$6,316$6,014$5,728$5,456$5,198$4,895
6 years$5,210$4,911$4,629$4,363$4,113$3,821
7 years$4,421$4,124$3,847$3,587$3,345$3,065
8 years$3,829$3,535$3,262$3,009$2,775$2,507
9 years$3,369$3,078$2,810$2,563$2,337$2,081
10 years$3,002$2,713$2,450$2,210$1,991$1,747
11 years$2,701$2,415$2,157$1,923$1,713$1,480
12 years$2,451$2,168$1,914$1,687$1,484$1,262
13 years$2,239$1,959$1,710$1,489$1,294$1,083
14 years$2,058$1,781$1,536$1,322$1,134$934
15 years$1,901$1,627$1,387$1,179$999$809
16 years$1,763$1,493$1,258$1,056$883$703
17 years$1,642$1,375$1,144$948$783$613
18 years$1,535$1,270$1,045$855$696$535
19 years$1,439$1,177$956$772$620$469
20 years$1,353$1,094$878$699$554$411
21 years$1,275$1,019$807$635$496$361
22 years$1,204$951$744$577$444$318
23 years$1,139$890$687$526$399$280
24 years$1,080$833$635$479$359$247
25 years$1,026$782$589$438$323$218
26 years$976$735$546$400$291$193
27 years$930$692$507$366$262$170
28 years$887$652$471$336$236$151
29 years$847$615$438$308$214$133
30 years$810$581$408$283$193$118
31 years$776$549$381$260$174$105
32 years$743$520$355$238$158$93
33 years$713$492$332$219$143$82
34 years$684$466$310$202$129$73
35 years$657$442$290$186$117$65
36 years$632$420$271$171$106$57
37 years$608$399$254$158$96$51
38 years$586$379$238$145$87$45
39 years$564$360$223$134$79$40
40 years$544$343$209$124$72$36
41 years$525$326$196$114$65$32
42 years$507$311$184$105$59$28
43 years$489$296$172$97$54$25
44 years$473$282$162$90$49$22
45 years$457$269$152$83$44$20
46 years$442$257$143$76$40$17
47 years$428$245$134$71$36$16
48 years$414$234$126$65$33$14
49 years$401$223$118$60$30$12
50 years$389$213$111$56$27$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $398,000, adding $2,995 every year, while hoping to spend $25,825 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: 49/35/16 Blend
59$398,000$398,000$398,000$398,000
60$441,685$420,591$414,422$461,226
61$459,260$413,723$400,828$468,162
62$477,761$405,652$385,912$472,786
63$497,257$396,293$369,605$477,245
64$517,820$385,554$351,829$481,533
65$539,531$373,340$332,509$485,646
66$562,476$359,547$311,561$489,579
67$586,751$344,067$288,901$493,330
68$612,460$326,786$264,439$496,898
69$639,716$307,584$238,083$500,285
70$668,642$286,330$209,734$503,494
71$699,374$262,892$179,291$506,533
72$732,061$237,124$146,648$509,410
73$766,865$208,877$111,694$512,140
74$803,963$177,989$74,313$514,742
75$843,549$144,293$34,385$517,238
76$885,837$107,609$0$519,656
77$931,060$67,750$0$523,437
78$979,475$24,516$0$533,574
79$1,031,361$0$0$544,266
80$1,087,027$0$0$564,187
81$1,146,810$0$0$595,751
82$1,211,082$0$0$629,716
83$1,280,250$0$0$666,301
84$1,354,760$0$0$705,748
85$1,435,104$0$0$748,319
86$1,521,821$0$0$794,306
87$1,615,504$0$0$844,029
88$1,716,803$0$0$897,837
89$1,826,436$0$0$956,116
90$1,945,188$0$0$1,019,291
91$2,073,926$0$0$1,087,828
92$2,213,600$0$0$1,162,240
93$2,365,257$0$0$1,243,090
94$2,530,049$0$0$1,331,000
95$2,709,240$0$0$1,426,652
96$2,904,224$0$0$1,530,796
97$3,116,534$0$0$1,644,260
98$3,347,855$0$0$1,767,953
99$3,600,045$0$0$1,902,877
100$3,875,146$0$0$2,050,131