Can I retire at age 60 with 418,000?

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 $418,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$34,518$34,211$33,911$33,618$33,332$32,726
2 years$17,088$16,770$16,461$16,162$15,872$15,264
3 years$11,279$10,959$10,652$10,355$10,070$9,478
4 years$8,375$8,056$7,752$7,460$7,182$6,611
5 years$6,633$6,316$6,016$5,730$5,460$4,912
6 years$5,472$5,158$4,862$4,583$4,320$3,796
7 years$4,643$4,331$4,040$3,768$3,513$3,012
8 years$4,022$3,713$3,426$3,161$2,915$2,437
9 years$3,539$3,233$2,951$2,692$2,455$2,000
10 years$3,152$2,849$2,573$2,321$2,091$1,660
11 years$2,837$2,537$2,265$2,020$1,799$1,389
12 years$2,574$2,277$2,010$1,771$1,559$1,171
13 years$2,351$2,058$1,796$1,564$1,359$992
14 years$2,161$1,870$1,614$1,388$1,191$845
15 years$1,996$1,709$1,457$1,238$1,049$722
16 years$1,852$1,568$1,321$1,109$927$620
17 years$1,725$1,444$1,202$996$822$533
18 years$1,612$1,334$1,097$898$731$459
19 years$1,511$1,236$1,004$811$652$397
20 years$1,421$1,149$922$735$582$343
21 years$1,339$1,070$848$667$521$297
22 years$1,264$999$781$606$467$258
23 years$1,197$934$722$552$419$224
24 years$1,135$875$667$504$377$194
25 years$1,078$821$618$460$339$169
26 years$1,025$772$573$420$305$147
27 years$977$727$532$385$275$128
28 years$932$685$495$353$248$112
29 years$890$646$460$323$224$97
30 years$851$610$429$297$203$85
31 years$814$577$400$273$183$74
32 years$780$546$373$250$166$64
33 years$749$517$348$230$150$56
34 years$719$490$325$212$136$49
35 years$690$464$304$195$123$43
36 years$664$441$285$180$111$37
37 years$639$419$266$166$101$33
38 years$615$398$250$153$92$29
39 years$593$378$234$141$83$25
40 years$571$360$219$130$75$22
41 years$551$343$205$120$68$19
42 years$532$326$193$110$62$17
43 years$514$311$181$102$56$15
44 years$497$296$170$94$51$13
45 years$480$283$159$87$46$11
46 years$464$270$150$80$42$10
47 years$449$257$141$74$38$8
48 years$435$246$132$69$35$7
49 years$421$235$124$63$32$6
50 years$408$224$117$59$29$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $418,000, adding $2,244 every year, while hoping to spend $36,808 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: 45/26/29 Blend
59$418,000$418,000$418,000$418,000
60$462,951$440,797$434,318$479,813
61$471,008$423,232$409,704$474,477
62$478,654$403,574$383,032$464,997
63$485,807$381,679$354,194$454,016
64$492,377$357,399$323,077$441,416
65$498,264$330,576$289,564$427,067
66$503,354$301,041$253,532$410,833
67$507,523$268,619$214,852$392,562
68$510,631$233,122$173,390$372,097
69$512,523$194,353$129,007$349,264
70$513,027$152,103$81,555$323,877
71$511,952$106,152$30,884$295,736
72$509,085$56,268$0$264,623
73$504,191$2,204$0$237,483
74$497,007$0$0$217,550
75$487,244$0$0$211,148
76$474,581$0$0$203,908
77$458,662$0$0$195,024
78$439,093$0$0$184,298
79$415,438$0$0$171,514
80$387,214$0$0$156,431
81$353,887$0$0$138,783
82$314,867$0$0$118,277
83$269,501$0$0$94,587
84$217,067$0$0$67,354
85$156,767$0$0$36,182
86$87,720$0$0$633
87$8,951$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0