Can I retire at age 60 with 788,000?

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 $788,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$65,072$64,493$63,927$63,375$62,836$61,442
2 years$32,214$31,614$31,033$30,469$29,922$28,525
3 years$21,263$20,660$20,080$19,522$18,984$17,627
4 years$15,788$15,187$14,613$14,064$13,539$12,233
5 years$12,504$11,907$11,340$10,803$10,292$9,041
6 years$10,316$9,723$9,165$8,639$8,144$6,948
7 years$8,753$8,165$7,616$7,103$6,623$5,484
8 years$7,582$6,999$6,459$5,958$5,495$4,411
9 years$6,671$6,094$5,563$5,075$4,627$3,598
10 years$5,943$5,372$4,850$4,375$3,943$2,968
11 years$5,348$4,782$4,270$3,807$3,391$2,468
12 years$4,852$4,292$3,789$3,340$2,938$2,067
13 years$4,433$3,879$3,386$2,948$2,562$1,740
14 years$4,074$3,526$3,042$2,617$2,246$1,472
15 years$3,763$3,221$2,746$2,334$1,978$1,250
16 years$3,491$2,955$2,490$2,090$1,748$1,064
17 years$3,252$2,721$2,266$1,878$1,550$908
18 years$3,039$2,515$2,068$1,692$1,378$777
19 years$2,849$2,331$1,894$1,529$1,228$666
20 years$2,678$2,166$1,738$1,385$1,097$572
21 years$2,524$2,017$1,598$1,257$982$492
22 years$2,384$1,883$1,473$1,143$880$423
23 years$2,256$1,761$1,360$1,041$790$364
24 years$2,139$1,650$1,258$949$710$314
25 years$2,032$1,549$1,165$867$639$271
26 years$1,933$1,455$1,081$793$576$234
27 years$1,841$1,370$1,003$726$519$202
28 years$1,756$1,291$933$665$468$175
29 years$1,677$1,218$868$610$423$151
30 years$1,604$1,150$809$559$382$131
31 years$1,535$1,087$754$514$345$113
32 years$1,471$1,029$703$472$312$98
33 years$1,411$974$657$434$283$85
34 years$1,355$923$614$400$256$73
35 years$1,302$876$574$368$232$63
36 years$1,252$831$537$339$210$55
37 years$1,204$789$502$312$190$47
38 years$1,160$750$470$288$173$41
39 years$1,117$713$441$265$157$36
40 years$1,077$679$413$245$142$31
41 years$1,039$646$387$226$129$27
42 years$1,003$615$363$208$117$23
43 years$969$586$341$192$106$20
44 years$936$559$320$178$96$17
45 years$905$533$300$164$87$15
46 years$875$508$282$151$79$13
47 years$847$485$265$140$72$11
48 years$820$463$249$129$65$10
49 years$794$442$234$119$59$8
50 years$769$422$220$110$54$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $788,000, adding $6,448 every year, while hoping to spend $48,586 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: 71/12/17 Blend
59$788,000$788,000$788,000$788,000
60$875,027$833,263$821,049$933,225
61$912,585$822,398$796,859$961,894
62$952,345$809,372$770,230$986,822
63$994,481$794,028$741,030$1,012,869
64$1,039,182$776,199$709,119$1,040,139
65$1,086,656$755,710$674,351$1,068,746
66$1,137,128$732,374$636,575$1,098,816
67$1,190,847$705,992$595,633$1,130,493
68$1,248,084$676,356$551,357$1,163,931
69$1,309,136$643,245$503,575$1,199,306
70$1,374,328$606,424$452,105$1,236,811
71$1,444,017$565,646$396,758$1,276,661
72$1,518,594$520,650$337,336$1,319,094
73$1,598,487$471,159$273,634$1,364,374
74$1,684,167$416,880$205,435$1,412,795
75$1,776,149$357,504$132,514$1,464,683
76$1,875,000$292,705$54,636$1,520,397
77$1,981,340$222,138$0$1,580,338
78$2,095,853$145,438$0$1,650,113
79$2,219,286$62,221$0$1,735,962
80$2,352,464$0$0$1,828,555
81$2,496,291$0$0$1,932,233
82$2,651,761$0$0$2,053,217
83$2,819,964$0$0$2,184,143
84$3,002,103$0$0$2,325,951
85$3,199,497$0$0$2,479,673
86$3,413,597$0$0$2,646,444
87$3,646,000$0$0$2,827,511
88$3,898,461$0$0$3,024,248
89$4,172,910$0$0$3,238,164
90$4,471,473$0$0$3,470,921
91$4,796,486$0$0$3,724,347
92$5,150,521$0$0$4,000,453
93$5,536,410$0$0$4,301,453
94$5,957,265$0$0$4,629,783
95$6,416,517$0$0$4,988,124
96$6,917,937$0$0$5,379,429
97$7,465,682$0$0$5,806,946
98$8,064,322$0$0$6,274,252
99$8,718,894$0$0$6,785,286
100$9,434,941$0$0$7,344,384