Can I retire at age 60 with 416,000?

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 $416,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$34,353$34,047$33,748$33,457$33,172$33,019
2 years$17,006$16,690$16,383$16,085$15,796$15,641
3 years$11,225$10,907$10,601$10,306$10,022$9,870
4 years$8,335$8,018$7,715$7,425$7,148$7,000
5 years$6,601$6,286$5,987$5,703$5,434$5,291
6 years$5,446$5,133$4,838$4,561$4,299$4,162
7 years$4,621$4,311$4,021$3,750$3,497$3,365
8 years$4,002$3,695$3,410$3,145$2,901$2,774
9 years$3,522$3,217$2,937$2,679$2,443$2,321
10 years$3,137$2,836$2,560$2,310$2,081$1,965
11 years$2,823$2,525$2,254$2,010$1,790$1,679
12 years$2,561$2,266$2,001$1,763$1,551$1,445
13 years$2,340$2,048$1,787$1,556$1,353$1,251
14 years$2,151$1,861$1,606$1,382$1,186$1,089
15 years$1,986$1,700$1,450$1,232$1,044$952
16 years$1,843$1,560$1,315$1,103$923$835
17 years$1,717$1,437$1,196$991$818$735
18 years$1,604$1,328$1,092$893$727$649
19 years$1,504$1,230$1,000$807$648$574
20 years$1,414$1,143$917$731$579$508
21 years$1,332$1,065$844$664$518$451
22 years$1,258$994$778$603$465$401
23 years$1,191$930$718$549$417$357
24 years$1,129$871$664$501$375$319
25 years$1,073$818$615$458$337$284
26 years$1,020$768$570$418$304$254
27 years$972$723$530$383$274$227
28 years$927$681$492$351$247$203
29 years$886$643$458$322$223$182
30 years$847$607$427$295$202$163
31 years$811$574$398$271$182$146
32 years$777$543$371$249$165$131
33 years$745$514$347$229$149$117
34 years$715$487$324$211$135$105
35 years$687$462$303$194$122$94
36 years$661$439$283$179$111$85
37 years$636$417$265$165$101$76
38 years$612$396$248$152$91$68
39 years$590$377$233$140$83$61
40 years$569$358$218$129$75$55
41 years$549$341$204$119$68$50
42 years$530$325$192$110$62$45
43 years$512$309$180$102$56$40
44 years$494$295$169$94$51$36
45 years$478$281$159$87$46$32
46 years$462$268$149$80$42$29
47 years$447$256$140$74$38$26
48 years$433$244$132$68$35$24
49 years$419$233$124$63$31$21
50 years$406$223$116$58$29$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $416,000, adding $5,526 every year, while hoping to spend $28,789 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: 56/23/21 Blend
59$416,000$416,000$416,000$416,000
60$464,132$442,084$435,636$487,205
61$480,842$433,115$419,599$494,613
62$498,292$422,741$402,059$499,145
63$516,526$410,864$382,937$503,457
64$535,594$397,379$362,147$507,535
65$555,548$382,173$339,602$511,367
66$576,444$365,130$315,209$514,939
67$598,345$346,125$288,872$518,239
68$621,318$325,027$260,491$521,253
69$645,435$301,696$229,961$523,972
70$670,776$275,986$197,171$526,384
71$697,426$247,740$162,006$528,479
72$725,478$216,794$124,349$530,251
73$755,035$182,975$84,072$531,692
74$786,206$146,098$41,046$532,799
75$819,113$105,971$0$533,569
76$853,887$62,388$0$535,096
77$890,671$15,133$0$546,177
78$929,623$0$0$557,648
79$970,913$0$0$578,673
80$1,014,728$0$0$605,067
81$1,061,272$0$0$633,125
82$1,110,771$0$0$662,984
83$1,163,467$0$0$694,796
84$1,219,630$0$0$728,724
85$1,279,552$0$0$764,949
86$1,343,555$0$0$803,669
87$1,411,991$0$0$845,100
88$1,485,246$0$0$889,480
89$1,563,745$0$0$937,069
90$1,647,950$0$0$988,154
91$1,738,373$0$0$1,043,047
92$1,835,573$0$0$1,102,095
93$1,940,163$0$0$1,165,673
94$2,052,819$0$0$1,234,198
95$2,174,280$0$0$1,308,126
96$2,305,360$0$0$1,387,958
97$2,446,954$0$0$1,474,245
98$2,600,044$0$0$1,567,591
99$2,765,709$0$0$1,668,662
100$2,945,136$0$0$1,778,190