Can I retire at age 60 with 840,000?

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 $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%13.2%
1 years$69,366$68,749$68,146$67,557$66,983$66,091
2 years$34,340$33,700$33,080$32,479$31,897$31,000
3 years$22,666$22,023$21,405$20,810$20,236$19,362
4 years$16,830$16,190$15,578$14,992$14,433$13,588
5 years$13,329$12,693$12,089$11,516$10,972$10,158
6 years$10,996$10,365$9,770$9,209$8,681$7,901
7 years$9,331$8,704$8,119$7,571$7,060$6,313
8 years$8,082$7,461$6,885$6,351$5,857$5,143
9 years$7,111$6,496$5,930$5,410$4,933$4,251
10 years$6,335$5,726$5,170$4,663$4,203$3,553
11 years$5,700$5,098$4,552$4,059$3,615$2,997
12 years$5,172$4,575$4,039$3,560$3,132$2,545
13 years$4,725$4,135$3,609$3,143$2,731$2,175
14 years$4,342$3,758$3,243$2,790$2,394$1,867
15 years$4,011$3,433$2,928$2,488$2,108$1,609
16 years$3,722$3,150$2,654$2,228$1,863$1,391
17 years$3,466$2,901$2,415$2,002$1,652$1,207
18 years$3,240$2,681$2,205$1,804$1,469$1,049
19 years$3,037$2,484$2,019$1,630$1,309$914
20 years$2,855$2,309$1,853$1,476$1,169$798
21 years$2,690$2,150$1,704$1,340$1,047$697
22 years$2,541$2,007$1,570$1,218$938$610
23 years$2,405$1,877$1,450$1,109$842$535
24 years$2,280$1,759$1,341$1,012$757$469
25 years$2,166$1,651$1,242$924$681$412
26 years$2,060$1,551$1,152$845$613$362
27 years$1,963$1,460$1,070$773$553$318
28 years$1,872$1,376$994$709$499$280
29 years$1,788$1,298$925$650$451$246
30 years$1,710$1,226$862$596$407$217
31 years$1,637$1,159$804$548$368$191
32 years$1,568$1,096$750$503$333$168
33 years$1,504$1,038$700$463$301$148
34 years$1,444$984$654$426$273$131
35 years$1,387$933$612$392$247$115
36 years$1,334$886$572$361$224$102
37 years$1,284$841$535$333$203$90
38 years$1,236$800$501$307$184$79
39 years$1,191$760$470$283$167$70
40 years$1,148$723$440$261$151$62
41 years$1,108$689$413$241$137$54
42 years$1,069$656$387$222$125$48
43 years$1,033$625$363$205$113$42
44 years$998$596$341$189$103$37
45 years$965$568$320$175$93$33
46 years$933$542$301$161$85$29
47 years$903$517$283$149$77$26
48 years$874$494$266$138$70$23
49 years$847$471$250$127$63$20
50 years$820$450$235$118$58$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $840,000, adding $2,802 every year, while hoping to spend $52,940 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: 66/11/23 Blend
59$840,000$840,000$840,000$840,000
60$928,570$884,050$871,030$984,194
61$966,957$871,041$843,882$1,008,921
62$1,007,484$855,620$814,050$1,029,669
63$1,050,315$837,613$781,388$1,051,127
64$1,095,627$816,836$745,745$1,073,365
65$1,143,614$793,093$706,960$1,096,464
66$1,194,486$766,179$664,867$1,120,515
67$1,248,476$735,873$619,292$1,145,618
68$1,305,835$701,946$570,053$1,171,890
69$1,366,840$664,151$516,959$1,199,456
70$1,431,794$622,231$459,814$1,228,460
71$1,501,028$575,911$398,408$1,259,062
72$1,574,903$524,901$332,526$1,291,441
73$1,653,819$468,897$261,941$1,325,798
74$1,738,209$407,574$186,417$1,362,355
75$1,828,552$340,591$105,707$1,401,363
76$1,925,371$267,586$19,555$1,443,099
77$2,029,240$188,179$0$1,487,873
78$2,140,790$101,967$0$1,553,794
79$2,260,711$8,524$0$1,629,760
80$2,389,763$0$0$1,711,466
81$2,528,780$0$0$1,810,672
82$2,678,678$0$0$1,918,796
83$2,840,462$0$0$2,035,537
84$3,015,238$0$0$2,161,698
85$3,204,219$0$0$2,298,160
86$3,408,742$0$0$2,445,896
87$3,630,274$0$0$2,605,969
88$3,870,427$0$0$2,779,554
89$4,130,977$0$0$2,967,940
90$4,413,875$0$0$3,172,544
91$4,721,267$0$0$3,394,927
92$5,055,514$0$0$3,636,805
93$5,419,213$0$0$3,900,065
94$5,815,223$0$0$4,186,786
95$6,246,689$0$0$4,499,253
96$6,717,070$0$0$4,839,982
97$7,230,177$0$0$5,211,742
98$7,790,202$0$0$5,617,582
99$8,401,760$0$0$6,060,856
100$9,069,930$0$0$6,545,257