Can I retire at age 60 with 418,000?

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 $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%12.7%
1 years$34,518$34,211$33,911$33,618$33,332$32,956
2 years$17,088$16,770$16,461$16,162$15,872$15,494
3 years$11,279$10,959$10,652$10,355$10,070$9,701
4 years$8,375$8,056$7,752$7,460$7,182$6,825
5 years$6,633$6,316$6,016$5,730$5,460$5,116
6 years$5,472$5,158$4,862$4,583$4,320$3,990
7 years$4,643$4,331$4,040$3,768$3,513$3,197
8 years$4,022$3,713$3,426$3,161$2,915$2,612
9 years$3,539$3,233$2,951$2,692$2,455$2,165
10 years$3,152$2,849$2,573$2,321$2,091$1,815
11 years$2,837$2,537$2,265$2,020$1,799$1,536
12 years$2,574$2,277$2,010$1,771$1,559$1,309
13 years$2,351$2,058$1,796$1,564$1,359$1,122
14 years$2,161$1,870$1,614$1,388$1,191$966
15 years$1,996$1,709$1,457$1,238$1,049$835
16 years$1,852$1,568$1,321$1,109$927$725
17 years$1,725$1,444$1,202$996$822$631
18 years$1,612$1,334$1,097$898$731$551
19 years$1,511$1,236$1,004$811$652$481
20 years$1,421$1,149$922$735$582$422
21 years$1,339$1,070$848$667$521$370
22 years$1,264$999$781$606$467$325
23 years$1,197$934$722$552$419$286
24 years$1,135$875$667$504$377$252
25 years$1,078$821$618$460$339$222
26 years$1,025$772$573$420$305$196
27 years$977$727$532$385$275$173
28 years$932$685$495$353$248$153
29 years$890$646$460$323$224$135
30 years$851$610$429$297$203$119
31 years$814$577$400$273$183$105
32 years$780$546$373$250$166$93
33 years$749$517$348$230$150$83
34 years$719$490$325$212$136$73
35 years$690$464$304$195$123$65
36 years$664$441$285$180$111$57
37 years$639$419$266$166$101$51
38 years$615$398$250$153$92$45
39 years$593$378$234$141$83$40
40 years$571$360$219$130$75$35
41 years$551$343$205$120$68$31
42 years$532$326$193$110$62$28
43 years$514$311$181$102$56$25
44 years$497$296$170$94$51$22
45 years$480$283$159$87$46$19
46 years$464$270$150$80$42$17
47 years$449$257$141$74$38$15
48 years$435$246$132$69$35$14
49 years$421$235$124$63$32$12
50 years$408$224$117$59$29$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $418,000, adding $3,159 every year, while hoping to spend $31,832 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: 46/25/29 Blend
59$418,000$418,000$418,000$418,000
60$463,895$441,741$435,262$481,234
61$477,343$429,517$415,974$481,622
62$491,096$415,627$394,973$478,730
63$505,151$399,957$372,168$474,987
64$519,505$382,383$347,464$470,328
65$534,152$362,777$320,762$464,689
66$549,086$341,003$291,957$457,999
67$564,296$316,916$260,942$450,183
68$579,774$290,364$227,602$441,161
69$595,504$261,185$191,820$430,850
70$611,471$229,210$153,472$419,159
71$627,657$194,256$112,429$405,994
72$644,039$156,136$68,557$391,252
73$660,591$114,647$21,714$374,826
74$677,284$69,577$0$356,601
75$694,082$20,702$0$345,204
76$710,947$0$0$339,496
77$727,834$0$0$341,523
78$744,690$0$0$349,204
79$761,459$0$0$356,813
80$778,073$0$0$364,316
81$794,459$0$0$371,674
82$810,532$0$0$378,844
83$826,198$0$0$385,776
84$841,352$0$0$392,417
85$855,874$0$0$398,705
86$869,631$0$0$404,572
87$882,476$0$0$409,940
88$894,241$0$0$414,726
89$904,741$0$0$418,833
90$913,769$0$0$422,156
91$921,096$0$0$424,578
92$926,465$0$0$425,965
93$929,592$0$0$426,174
94$930,159$0$0$425,043
95$927,815$0$0$422,391
96$922,169$0$0$418,019
97$912,789$0$0$411,706
98$899,194$0$0$403,208
99$880,851$0$0$392,252
100$857,170$0$0$378,538