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%15.7%
1 years$32,866$32,574$32,288$32,009$31,737$30,995
2 years$16,271$15,968$15,674$15,389$15,113$14,370
3 years$10,739$10,435$10,142$9,860$9,588$8,867
4 years$7,974$7,671$7,381$7,104$6,838$6,144
5 years$6,316$6,014$5,728$5,456$5,198$4,534
6 years$5,210$4,911$4,629$4,363$4,113$3,479
7 years$4,421$4,124$3,847$3,587$3,345$2,741
8 years$3,829$3,535$3,262$3,009$2,775$2,201
9 years$3,369$3,078$2,810$2,563$2,337$1,792
10 years$3,002$2,713$2,450$2,210$1,991$1,475
11 years$2,701$2,415$2,157$1,923$1,713$1,225
12 years$2,451$2,168$1,914$1,687$1,484$1,024
13 years$2,239$1,959$1,710$1,489$1,294$860
14 years$2,058$1,781$1,536$1,322$1,134$726
15 years$1,901$1,627$1,387$1,179$999$615
16 years$1,763$1,493$1,258$1,056$883$523
17 years$1,642$1,375$1,144$948$783$445
18 years$1,535$1,270$1,045$855$696$380
19 years$1,439$1,177$956$772$620$325
20 years$1,353$1,094$878$699$554$278
21 years$1,275$1,019$807$635$496$239
22 years$1,204$951$744$577$444$205
23 years$1,139$890$687$526$399$176
24 years$1,080$833$635$479$359$152
25 years$1,026$782$589$438$323$130
26 years$976$735$546$400$291$112
27 years$930$692$507$366$262$97
28 years$887$652$471$336$236$83
29 years$847$615$438$308$214$72
30 years$810$581$408$283$193$62
31 years$776$549$381$260$174$54
32 years$743$520$355$238$158$46
33 years$713$492$332$219$143$40
34 years$684$466$310$202$129$34
35 years$657$442$290$186$117$30
36 years$632$420$271$171$106$26
37 years$608$399$254$158$96$22
38 years$586$379$238$145$87$19
39 years$564$360$223$134$79$17
40 years$544$343$209$124$72$14
41 years$525$326$196$114$65$12
42 years$507$311$184$105$59$11
43 years$489$296$172$97$54$9
44 years$473$282$162$90$49$8
45 years$457$269$152$83$44$7
46 years$442$257$143$76$40$6
47 years$428$245$134$71$36$5
48 years$414$234$126$65$33$4
49 years$401$223$118$60$30$4
50 years$389$213$111$56$27$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $398,000, adding $6,405 every year, while hoping to spend $24,732 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: 50/22/28 Blend
59$398,000$398,000$398,000$398,000
60$445,203$424,109$417,940$463,656
61$464,299$418,575$405,626$471,680
62$484,514$411,942$392,071$477,424
63$505,935$404,129$377,207$483,184
64$528,660$395,050$360,963$488,972
65$552,793$384,618$343,265$494,805
66$578,450$372,735$324,035$500,702
67$605,755$359,303$303,194$506,685
68$634,847$344,213$280,656$512,781
69$665,876$327,355$256,333$519,022
70$699,008$308,608$230,133$525,445
71$734,424$287,847$201,959$532,093
72$772,322$264,938$171,711$539,015
73$812,919$239,740$139,284$546,269
74$856,455$212,105$104,568$553,919
75$903,191$181,876$67,449$562,041
76$953,414$148,886$27,806$570,720
77$1,007,441$112,959$0$580,053
78$1,065,616$73,911$0$594,483
79$1,128,321$31,544$0$618,949
80$1,195,973$0$0$645,319
81$1,269,032$0$0$677,267
82$1,348,001$0$0$720,086
83$1,433,435$0$0$766,447
84$1,525,943$0$0$816,683
85$1,626,196$0$0$871,162
86$1,734,929$0$0$930,291
87$1,852,954$0$0$994,514
88$1,981,160$0$0$1,064,322
89$2,120,529$0$0$1,140,255
90$2,272,137$0$0$1,222,904
91$2,437,173$0$0$1,312,924
92$2,616,940$0$0$1,411,031
93$2,812,875$0$0$1,518,018
94$3,026,559$0$0$1,634,754
95$3,259,733$0$0$1,762,197
96$3,514,310$0$0$1,901,401
97$3,792,401$0$0$2,053,527
98$4,096,325$0$0$2,219,852
99$4,428,637$0$0$2,401,784
100$4,792,153$0$0$2,600,872