Can I retire at age 60 with 840,000?

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 $840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$69,366$68,749$68,146$67,557$66,983$65,363
2 years$34,340$33,700$33,080$32,479$31,897$30,275
3 years$22,666$22,023$21,405$20,810$20,236$18,663
4 years$16,830$16,190$15,578$14,992$14,433$12,920
5 years$13,329$12,693$12,089$11,516$10,972$9,523
6 years$10,996$10,365$9,770$9,209$8,681$7,299
7 years$9,331$8,704$8,119$7,571$7,060$5,744
8 years$8,082$7,461$6,885$6,351$5,857$4,607
9 years$7,111$6,496$5,930$5,410$4,933$3,747
10 years$6,335$5,726$5,170$4,663$4,203$3,081
11 years$5,700$5,098$4,552$4,059$3,615$2,554
12 years$5,172$4,575$4,039$3,560$3,132$2,132
13 years$4,725$4,135$3,609$3,143$2,731$1,789
14 years$4,342$3,758$3,243$2,790$2,394$1,508
15 years$4,011$3,433$2,928$2,488$2,108$1,276
16 years$3,722$3,150$2,654$2,228$1,863$1,083
17 years$3,466$2,901$2,415$2,002$1,652$921
18 years$3,240$2,681$2,205$1,804$1,469$785
19 years$3,037$2,484$2,019$1,630$1,309$670
20 years$2,855$2,309$1,853$1,476$1,169$573
21 years$2,690$2,150$1,704$1,340$1,047$491
22 years$2,541$2,007$1,570$1,218$938$421
23 years$2,405$1,877$1,450$1,109$842$361
24 years$2,280$1,759$1,341$1,012$757$310
25 years$2,166$1,651$1,242$924$681$266
26 years$2,060$1,551$1,152$845$613$229
27 years$1,963$1,460$1,070$773$553$197
28 years$1,872$1,376$994$709$499$170
29 years$1,788$1,298$925$650$451$146
30 years$1,710$1,226$862$596$407$126
31 years$1,637$1,159$804$548$368$108
32 years$1,568$1,096$750$503$333$93
33 years$1,504$1,038$700$463$301$80
34 years$1,444$984$654$426$273$69
35 years$1,387$933$612$392$247$60
36 years$1,334$886$572$361$224$52
37 years$1,284$841$535$333$203$44
38 years$1,236$800$501$307$184$38
39 years$1,191$760$470$283$167$33
40 years$1,148$723$440$261$151$28
41 years$1,108$689$413$241$137$25
42 years$1,069$656$387$222$125$21
43 years$1,033$625$363$205$113$18
44 years$998$596$341$189$103$16
45 years$965$568$320$175$93$14
46 years$933$542$301$161$85$12
47 years$903$517$283$149$77$10
48 years$874$494$266$138$70$9
49 years$847$471$250$127$63$8
50 years$820$450$235$118$58$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $840,000, adding $2,176 every year, while hoping to spend $25,142 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: 31/42/27 Blend
59$840,000$840,000$840,000$840,000
60$927,925$883,405$870,385$948,947
61$995,822$899,940$872,792$981,875
62$1,069,802$916,444$874,437$1,014,930
63$1,150,459$932,887$875,267$1,050,013
64$1,238,447$949,239$875,230$1,087,321
65$1,334,484$965,468$874,266$1,127,066
66$1,439,364$981,538$872,315$1,169,490
67$1,553,957$997,411$869,316$1,214,854
68$1,679,223$1,013,047$865,201$1,263,450
69$1,816,220$1,028,402$859,901$1,315,601
70$1,966,110$1,043,430$853,344$1,371,664
71$2,130,176$1,058,080$845,453$1,432,033
72$2,309,826$1,072,299$836,148$1,497,144
73$2,506,616$1,086,029$825,347$1,567,479
74$2,722,256$1,099,210$812,961$1,643,572
75$2,958,631$1,111,775$798,900$1,726,011
76$3,217,814$1,123,655$783,066$1,815,449
77$3,502,093$1,134,776$765,360$1,912,605
78$3,813,983$1,145,057$745,677$2,018,276
79$4,156,259$1,154,415$723,907$2,133,339
80$4,531,975$1,162,758$699,935$2,258,768
81$4,944,494$1,169,991$673,641$2,395,635
82$5,397,524$1,176,012$644,899$2,545,128
83$5,895,146$1,180,711$613,578$2,708,555
84$6,441,859$1,183,974$579,541$2,887,365
85$7,042,617$1,185,677$542,643$3,083,155
86$7,702,878$1,185,690$502,736$3,297,692
87$8,428,656$1,183,873$459,662$3,532,924
88$9,226,577$1,180,080$413,258$3,791,006
89$10,103,938$1,174,154$363,353$4,074,312
90$11,068,782$1,165,930$309,768$4,385,469
91$12,129,969$1,155,232$252,316$4,727,374
92$13,297,260$1,141,873$190,803$5,103,224
93$14,581,411$1,125,655$125,025$5,516,550
94$15,994,272$1,106,369$54,771$5,971,250
95$17,548,900$1,083,794$0$6,471,624
96$19,259,681$1,057,693$0$7,028,239
97$21,142,467$1,027,818$0$7,657,731
98$23,214,724$993,906$0$8,350,154
99$25,495,696$955,678$0$9,111,959
100$28,006,588$912,838$0$9,950,259