Can I retire at age 60 with 429,000?

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 $429,000?

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$35,426$35,111$34,803$34,502$34,209$34,051
2 years$17,538$17,211$16,895$16,588$16,290$16,130
3 years$11,576$11,248$10,932$10,628$10,335$10,179
4 years$8,595$8,268$7,956$7,657$7,371$7,219
5 years$6,807$6,482$6,174$5,881$5,603$5,457
6 years$5,616$5,293$4,989$4,703$4,434$4,292
7 years$4,765$4,445$4,146$3,867$3,606$3,470
8 years$4,128$3,811$3,516$3,244$2,991$2,861
9 years$3,632$3,318$3,029$2,763$2,519$2,394
10 years$3,235$2,924$2,640$2,382$2,146$2,026
11 years$2,911$2,603$2,325$2,073$1,846$1,731
12 years$2,641$2,337$2,063$1,818$1,600$1,490
13 years$2,413$2,112$1,843$1,605$1,395$1,290
14 years$2,218$1,919$1,656$1,425$1,223$1,123
15 years$2,049$1,753$1,495$1,271$1,077$982
16 years$1,901$1,609$1,356$1,138$952$861
17 years$1,770$1,482$1,234$1,022$844$758
18 years$1,654$1,369$1,126$921$750$669
19 years$1,551$1,269$1,031$832$669$592
20 years$1,458$1,179$946$754$597$524
21 years$1,374$1,098$870$684$534$465
22 years$1,298$1,025$802$622$479$414
23 years$1,228$959$741$567$430$368
24 years$1,165$898$685$517$387$328
25 years$1,106$843$634$472$348$293
26 years$1,052$792$588$432$313$262
27 years$1,002$746$546$395$282$234
28 years$956$703$508$362$255$209
29 years$913$663$473$332$230$187
30 years$873$626$440$305$208$168
31 years$836$592$410$280$188$150
32 years$801$560$383$257$170$135
33 years$768$530$358$236$154$121
34 years$738$503$334$218$139$109
35 years$709$477$312$200$126$97
36 years$681$452$292$184$114$87
37 years$656$430$273$170$104$79
38 years$631$408$256$157$94$71
39 years$608$388$240$144$85$63
40 years$587$369$225$133$77$57
41 years$566$352$211$123$70$51
42 years$546$335$198$113$64$46
43 years$527$319$186$105$58$41
44 years$510$304$174$97$52$37
45 years$493$290$164$89$48$33
46 years$477$277$154$82$43$30
47 years$461$264$144$76$39$27
48 years$446$252$136$70$36$24
49 years$432$241$128$65$32$22
50 years$419$230$120$60$29$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $429,000, adding $2,049 every year, while hoping to spend $40,725 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: 41/40/19 Blend
59$429,000$429,000$429,000$429,000
60$474,872$452,135$445,485$491,607
61$479,977$430,958$417,078$482,530
62$484,239$407,379$386,354$468,621
63$487,527$381,237$353,193$452,721
64$489,699$352,361$317,468$434,670
65$490,594$320,572$279,049$414,293
66$490,035$285,681$237,798$391,405
67$487,826$247,486$193,571$365,803
68$483,746$205,776$146,218$337,271
69$477,555$160,325$95,583$305,575
70$468,983$110,899$41,503$270,462
71$457,733$57,246$0$231,658
72$443,473$0$0$192,157
73$425,839$0$0$157,940
74$404,426$0$0$147,179
75$378,787$0$0$134,475
76$348,425$0$0$119,602
77$312,792$0$0$102,311
78$271,283$0$0$82,327
79$223,228$0$0$59,347
80$167,886$0$0$33,035
81$104,438$0$0$3,019
82$31,981$0$0$0
83$0$0$0$0
84$0$0$0$0
85$0$0$0$0
86$0$0$0$0
87$0$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