Can I retire at age 60 with 816,000?

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 $816,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$67,385$66,784$66,199$65,627$65,069$64,686
2 years$33,359$32,737$32,135$31,551$30,985$30,599
3 years$22,018$21,394$20,794$20,215$19,658$19,281
4 years$16,349$15,727$15,132$14,564$14,020$13,654
5 years$12,949$12,330$11,743$11,187$10,658$10,304
6 years$10,682$10,069$9,490$8,946$8,433$8,093
7 years$9,064$8,456$7,887$7,355$6,859$6,531
8 years$7,851$7,248$6,688$6,170$5,690$5,375
9 years$6,908$6,311$5,761$5,255$4,792$4,490
10 years$6,154$5,563$5,022$4,530$4,083$3,794
11 years$5,538$4,952$4,422$3,943$3,511$3,236
12 years$5,024$4,445$3,924$3,458$3,043$2,780
13 years$4,590$4,017$3,506$3,053$2,653$2,403
14 years$4,218$3,651$3,150$2,710$2,326$2,087
15 years$3,897$3,335$2,844$2,417$2,048$1,821
16 years$3,615$3,060$2,579$2,164$1,810$1,594
17 years$3,367$2,818$2,346$1,944$1,605$1,400
18 years$3,147$2,604$2,142$1,752$1,427$1,233
19 years$2,950$2,413$1,961$1,583$1,272$1,088
20 years$2,773$2,243$1,800$1,434$1,136$962
21 years$2,613$2,089$1,655$1,302$1,017$852
22 years$2,468$1,950$1,526$1,183$911$756
23 years$2,336$1,824$1,409$1,078$818$672
24 years$2,215$1,709$1,303$983$735$597
25 years$2,104$1,604$1,207$898$662$532
26 years$2,001$1,507$1,119$821$596$474
27 years$1,907$1,418$1,039$751$537$423
28 years$1,819$1,337$966$688$485$377
29 years$1,737$1,261$899$631$438$337
30 years$1,661$1,191$837$579$396$301
31 years$1,590$1,126$781$532$358$269
32 years$1,524$1,065$728$489$324$241
33 years$1,461$1,009$680$450$293$215
34 years$1,403$956$635$414$265$193
35 years$1,348$907$594$381$240$172
36 years$1,296$861$556$351$218$154
37 years$1,247$817$520$323$197$138
38 years$1,201$777$487$298$179$124
39 years$1,157$739$456$275$162$111
40 years$1,116$703$428$253$147$100
41 years$1,076$669$401$234$133$89
42 years$1,039$637$376$216$121$80
43 years$1,003$607$353$199$110$72
44 years$970$579$331$184$100$64
45 years$937$552$311$170$91$58
46 years$907$526$292$157$82$52
47 years$877$502$275$145$75$46
48 years$849$480$258$134$68$42
49 years$822$458$243$124$62$37
50 years$797$437$228$114$56$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $816,000, adding $5,296 every year, while hoping to spend $34,877 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: 64/16/20 Blend
59$816,000$816,000$816,000$816,000
60$904,695$861,447$848,799$957,659
61$959,865$866,549$840,125$999,031
62$1,019,493$870,732$829,991$1,039,786
63$1,083,998$873,914$818,312$1,083,497
64$1,153,839$876,009$804,998$1,130,453
65$1,229,520$876,923$789,956$1,180,976
66$1,311,597$876,559$773,086$1,235,421
67$1,400,682$874,812$754,286$1,294,180
68$1,497,445$871,571$733,448$1,357,686
69$1,602,625$866,719$710,459$1,426,418
70$1,717,036$860,131$685,203$1,500,903
71$1,841,572$851,676$657,555$1,581,725
72$1,977,216$841,211$627,387$1,669,527
73$2,125,051$828,590$594,564$1,765,021
74$2,286,270$813,655$558,945$1,868,991
75$2,462,184$796,238$520,384$1,982,306
76$2,654,237$776,164$478,727$2,105,921
77$2,864,017$753,244$433,812$2,240,893
78$3,093,275$727,281$385,473$2,388,388
79$3,343,937$698,066$333,535$2,549,694
80$3,618,124$665,376$277,813$2,726,231
81$3,918,171$628,978$218,118$2,919,568
82$4,246,648$588,622$154,249$3,131,435
83$4,606,389$544,047$85,999$3,363,743
84$5,000,510$494,975$13,150$3,618,599
85$5,432,446$441,113$0$3,898,330
86$5,905,979$382,151$0$4,219,286
87$6,425,274$317,761$0$4,574,405
88$6,994,920$247,599$0$4,964,056
89$7,619,968$171,298$0$5,391,741
90$8,305,986$88,473$0$5,861,321
91$9,059,104$0$0$6,377,051
92$9,886,076$0$0$6,943,847
93$10,794,342$0$0$7,583,528
94$11,792,098$0$0$8,286,296
95$12,888,372$0$0$9,058,517
96$14,093,111$0$0$9,907,207
97$15,417,271$0$0$10,840,091
98$16,872,926$0$0$11,865,683
99$18,473,376$0$0$12,993,362
100$20,233,272$0$0$14,233,463