Can I retire at age 60 with 422,000?

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 $422,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$34,848$34,538$34,235$33,940$33,651$32,931
2 years$17,252$16,930$16,619$16,317$16,024$15,303
3 years$11,387$11,064$10,754$10,455$10,166$9,465
4 years$8,455$8,133$7,826$7,532$7,251$6,576
5 years$6,696$6,377$6,073$5,785$5,512$4,865
6 years$5,524$5,207$4,908$4,626$4,361$3,743
7 years$4,688$4,373$4,079$3,804$3,547$2,957
8 years$4,060$3,748$3,459$3,191$2,943$2,381
9 years$3,572$3,264$2,979$2,718$2,478$1,945
10 years$3,183$2,877$2,597$2,343$2,111$1,606
11 years$2,864$2,561$2,287$2,039$1,816$1,338
12 years$2,598$2,299$2,029$1,788$1,574$1,122
13 years$2,374$2,077$1,813$1,579$1,372$946
14 years$2,182$1,888$1,629$1,402$1,203$801
15 years$2,015$1,725$1,471$1,250$1,059$681
16 years$1,870$1,583$1,334$1,119$936$581
17 years$1,741$1,457$1,213$1,006$830$496
18 years$1,627$1,347$1,108$906$738$425
19 years$1,526$1,248$1,014$819$658$365
20 years$1,434$1,160$931$742$588$314
21 years$1,352$1,080$856$673$526$270
22 years$1,277$1,008$789$612$471$233
23 years$1,208$943$728$557$423$201
24 years$1,146$884$674$508$380$174
25 years$1,088$829$624$464$342$150
26 years$1,035$779$579$424$308$130
27 years$986$734$537$389$278$112
28 years$941$691$500$356$251$97
29 years$898$652$465$326$226$84
30 years$859$616$433$300$205$73
31 years$822$582$404$275$185$63
32 years$788$551$377$253$167$55
33 years$756$522$352$233$151$47
34 years$725$494$329$214$137$41
35 years$697$469$307$197$124$36
36 years$670$445$287$181$112$31
37 years$645$423$269$167$102$27
38 years$621$402$252$154$92$23
39 years$598$382$236$142$84$20
40 years$577$363$221$131$76$17
41 years$557$346$207$121$69$15
42 years$537$329$195$112$63$13
43 years$519$314$183$103$57$11
44 years$501$299$171$95$52$10
45 years$485$285$161$88$47$9
46 years$469$272$151$81$42$7
47 years$454$260$142$75$39$6
48 years$439$248$133$69$35$6
49 years$425$237$125$64$32$5
50 years$412$226$118$59$29$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $422,000, adding $2,365 every year, while hoping to spend $26,841 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: 51/33/16 Blend
59$422,000$422,000$422,000$422,000
60$467,483$445,117$438,576$489,165
61$486,608$438,370$424,710$497,565
62$506,784$430,392$409,480$503,690
63$528,090$421,095$392,811$509,758
64$550,612$410,385$374,627$515,771
65$574,443$398,163$354,846$521,736
66$599,688$384,324$333,385$527,659
67$626,456$368,756$310,154$533,550
68$654,872$351,342$285,061$539,423
69$685,068$331,957$258,009$545,292
70$717,191$310,469$228,899$551,178
71$751,401$286,739$197,624$557,107
72$787,875$260,620$164,075$563,106
73$826,803$231,955$128,136$569,212
74$868,396$200,581$89,688$575,466
75$912,886$166,323$48,606$581,916
76$960,525$128,997$4,759$588,621
77$1,011,591$88,410$0$595,646
78$1,066,388$44,357$0$610,244
79$1,125,250$0$0$626,661
80$1,188,544$0$0$645,438
81$1,256,672$0$0$683,017
82$1,330,077$0$0$723,539
83$1,409,243$0$0$767,276
84$1,494,704$0$0$814,528
85$1,587,047$0$0$865,622
86$1,686,915$0$0$920,920
87$1,795,016$0$0$980,820
88$1,912,128$0$0$1,045,757
89$2,039,108$0$0$1,116,212
90$2,176,896$0$0$1,192,712
91$2,326,527$0$0$1,275,839
92$2,489,139$0$0$1,366,231
93$2,665,984$0$0$1,464,592
94$2,858,442$0$0$1,571,694
95$3,068,026$0$0$1,688,388
96$3,296,405$0$0$1,815,610
97$3,545,416$0$0$1,954,393
98$3,817,078$0$0$2,105,869
99$4,113,616$0$0$2,271,288
100$4,437,477$0$0$2,452,024