Can I retire at age 60 with 791,000?

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 $791,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$65,320$64,738$64,171$63,616$63,075$62,391
2 years$32,337$31,734$31,151$30,585$30,036$29,347
3 years$21,344$20,739$20,157$19,596$19,056$18,383
4 years$15,848$15,245$14,669$14,118$13,591$12,940
5 years$12,552$11,952$11,384$10,844$10,332$9,705
6 years$10,355$9,760$9,200$8,672$8,175$7,573
7 years$8,786$8,196$7,645$7,130$6,648$6,071
8 years$7,610$7,026$6,484$5,981$5,516$4,963
9 years$6,696$6,117$5,584$5,094$4,645$4,117
10 years$5,965$5,392$4,868$4,391$3,958$3,454
11 years$5,368$4,800$4,286$3,822$3,404$2,923
12 years$4,870$4,308$3,804$3,352$2,950$2,493
13 years$4,449$3,894$3,398$2,960$2,572$2,138
14 years$4,089$3,539$3,054$2,627$2,255$1,842
15 years$3,777$3,233$2,757$2,343$1,985$1,594
16 years$3,504$2,966$2,500$2,098$1,755$1,385
17 years$3,264$2,732$2,275$1,885$1,556$1,206
18 years$3,051$2,524$2,076$1,699$1,383$1,053
19 years$2,860$2,340$1,901$1,535$1,233$921
20 years$2,688$2,174$1,744$1,390$1,101$808
21 years$2,533$2,025$1,605$1,262$986$709
22 years$2,393$1,890$1,479$1,147$883$623
23 years$2,265$1,768$1,365$1,045$793$549
24 years$2,147$1,656$1,263$953$713$484
25 years$2,039$1,554$1,170$870$641$427
26 years$1,940$1,461$1,085$796$578$377
27 years$1,848$1,375$1,007$728$521$333
28 years$1,763$1,296$936$667$470$294
29 years$1,684$1,222$871$612$424$260
30 years$1,610$1,154$812$562$383$230
31 years$1,541$1,091$757$516$347$204
32 years$1,477$1,032$706$474$314$180
33 years$1,417$978$659$436$284$160
34 years$1,360$927$616$401$257$142
35 years$1,307$879$576$369$233$125
36 years$1,256$834$539$340$211$111
37 years$1,209$792$504$313$191$99
38 years$1,164$753$472$289$173$87
39 years$1,122$716$442$266$157$78
40 years$1,081$681$415$246$143$69
41 years$1,043$649$389$227$129$61
42 years$1,007$618$365$209$117$54
43 years$973$588$342$193$106$48
44 years$940$561$321$178$97$43
45 years$909$535$302$165$88$38
46 years$879$510$283$152$80$34
47 years$850$487$266$140$72$30
48 years$823$465$250$130$66$26
49 years$797$444$235$120$60$24
50 years$772$424$221$111$54$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $791,000, adding $6,900 every year, while hoping to spend $51,035 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: 80/12/8 Blend
59$791,000$791,000$791,000$791,000
60$878,799$836,876$824,616$947,633
61$914,136$823,582$797,940$980,444
62$951,367$807,927$768,659$1,009,029
63$990,630$789,739$736,634$1,038,866
64$1,032,079$768,841$701,715$1,070,054
65$1,075,878$745,041$663,750$1,102,701
66$1,122,208$718,139$622,576$1,136,930
67$1,171,267$687,921$578,026$1,172,873
68$1,223,269$654,162$529,923$1,210,677
69$1,278,451$616,624$478,083$1,250,505
70$1,337,068$575,054$422,314$1,292,536
71$1,399,404$529,187$362,416$1,336,969
72$1,465,765$478,739$298,179$1,384,022
73$1,536,489$423,413$229,385$1,433,937
74$1,611,945$362,895$155,803$1,486,981
75$1,692,538$296,851$77,197$1,543,450
76$1,778,711$224,931$0$1,603,669
77$1,870,950$146,763$0$1,668,571
78$1,969,788$61,955$0$1,745,052
79$2,075,809$0$0$1,826,979
80$2,189,656$0$0$1,918,811
81$2,312,031$0$0$2,026,332
82$2,443,708$0$0$2,142,041
83$2,585,535$0$0$2,266,688
84$2,738,444$0$0$2,401,092
85$2,903,460$0$0$2,546,156
86$3,081,706$0$0$2,702,872
87$3,274,420$0$0$2,872,329
88$3,482,959$0$0$3,055,723
89$3,708,818$0$0$3,254,372
90$3,953,638$0$0$3,469,723
91$4,219,225$0$0$3,703,367
92$4,507,565$0$0$3,957,054
93$4,820,842$0$0$4,232,709
94$5,161,458$0$0$4,532,450
95$5,532,058$0$0$4,858,607
96$5,935,548$0$0$5,213,743
97$6,375,131$0$0$5,600,679
98$6,854,326$0$0$6,022,519
99$7,377,011$0$0$6,482,680
100$7,947,451$0$0$6,984,923