Can I retire at age 60 with 794,000?

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 $794,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$65,568$64,984$64,414$63,858$63,315$62,968
2 years$32,459$31,855$31,269$30,701$30,150$29,800
3 years$21,425$20,817$20,233$19,670$19,128$18,787
4 years$15,908$15,303$14,724$14,171$13,642$13,311
5 years$12,599$11,998$11,427$10,885$10,371$10,051
6 years$10,394$9,797$9,235$8,705$8,206$7,898
7 years$8,820$8,228$7,674$7,157$6,674$6,377
8 years$7,639$7,053$6,508$6,004$5,536$5,252
9 years$6,722$6,141$5,605$5,114$4,663$4,390
10 years$5,988$5,413$4,887$4,408$3,973$3,712
11 years$5,388$4,818$4,302$3,836$3,417$3,167
12 years$4,889$4,325$3,818$3,365$2,961$2,722
13 years$4,466$3,908$3,411$2,971$2,582$2,355
14 years$4,105$3,553$3,065$2,637$2,263$2,047
15 years$3,791$3,245$2,767$2,352$1,993$1,787
16 years$3,518$2,978$2,509$2,106$1,761$1,565
17 years$3,276$2,742$2,283$1,892$1,562$1,376
18 years$3,062$2,534$2,084$1,705$1,389$1,212
19 years$2,871$2,348$1,908$1,541$1,238$1,071
20 years$2,699$2,182$1,751$1,395$1,105$948
21 years$2,543$2,033$1,611$1,266$989$840
22 years$2,402$1,897$1,484$1,151$887$746
23 years$2,273$1,775$1,371$1,049$796$663
24 years$2,155$1,663$1,268$956$715$590
25 years$2,047$1,560$1,174$873$644$526
26 years$1,947$1,467$1,089$799$580$469
27 years$1,855$1,380$1,011$731$523$418
28 years$1,770$1,301$940$670$472$374
29 years$1,690$1,227$875$614$426$334
30 years$1,616$1,159$815$564$385$299
31 years$1,547$1,095$760$518$348$267
32 years$1,483$1,036$709$476$315$239
33 years$1,422$981$662$438$285$214
34 years$1,365$930$618$403$258$192
35 years$1,312$882$578$371$234$172
36 years$1,261$837$541$341$212$154
37 years$1,213$795$506$314$192$138
38 years$1,168$756$474$290$174$124
39 years$1,126$719$444$267$158$111
40 years$1,086$684$416$247$143$100
41 years$1,047$651$390$227$130$89
42 years$1,011$620$366$210$118$80
43 years$976$591$344$194$107$72
44 years$943$563$322$179$97$65
45 years$912$537$303$165$88$58
46 years$882$512$284$153$80$52
47 years$854$489$267$141$73$47
48 years$826$467$251$130$66$42
49 years$800$446$236$120$60$38
50 years$775$426$222$111$54$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $794,000, adding $5,868 every year, while hoping to spend $32,260 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: 46/48/6 Blend
59$794,000$794,000$794,000$794,000
60$881,041$838,959$826,652$919,872
61$936,583$845,743$820,020$953,957
62$996,708$851,779$812,085$987,062
63$1,061,852$856,996$802,769$1,022,214
64$1,132,489$861,317$791,991$1,059,613
65$1,209,145$864,664$779,665$1,099,478
66$1,292,396$866,950$765,701$1,142,053
67$1,382,876$868,086$750,008$1,187,610
68$1,481,283$867,976$732,486$1,236,446
69$1,588,383$866,516$713,034$1,288,894
70$1,705,022$863,599$691,545$1,345,320
71$1,832,129$859,110$667,906$1,406,130
72$1,970,727$852,927$642,001$1,471,775
73$2,121,940$844,920$613,708$1,542,752
74$2,287,009$834,952$582,898$1,619,613
75$2,467,297$822,877$549,438$1,702,967
76$2,664,304$808,542$513,188$1,793,489
77$2,879,685$791,782$474,001$1,891,926
78$3,115,259$772,426$431,726$1,999,104
79$3,373,030$750,289$386,203$2,115,936
80$3,655,203$725,177$337,266$2,243,434
81$3,964,210$696,886$284,739$2,382,714
82$4,302,724$665,199$228,443$2,535,013
83$4,673,693$629,885$168,187$2,701,697
84$5,080,362$590,701$103,774$2,884,277
85$5,526,304$547,391$34,996$3,084,422
86$6,015,457$499,683$0$3,303,977
87$6,552,156$447,289$0$3,547,440
88$7,141,176$389,907$0$3,817,159
89$7,787,778$327,214$0$4,113,393
90$8,497,757$258,874$0$4,438,912
91$9,277,496$184,526$0$4,796,769
92$10,134,027$103,794$0$5,190,341
93$11,075,096$16,279$0$5,623,351
94$12,109,237$0$0$6,099,915
95$13,245,852$0$0$6,666,005
96$14,495,298$0$0$7,297,844
97$15,868,986$0$0$7,992,616
98$17,379,488$0$0$8,756,691
99$19,040,655$0$0$9,597,090
100$20,867,748$0$0$10,521,548