Can I retire at age 60 with 841,000?

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 $841,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$69,449$68,830$68,227$67,638$67,063$66,307
2 years$34,381$33,740$33,120$32,518$31,935$31,174
3 years$22,693$22,050$21,431$20,835$20,261$19,519
4 years$16,850$16,209$15,596$15,010$14,450$13,732
5 years$13,345$12,708$12,103$11,529$10,985$10,293
6 years$11,009$10,377$9,781$9,220$8,692$8,028
7 years$9,342$8,715$8,128$7,580$7,069$6,432
8 years$8,091$7,470$6,893$6,359$5,864$5,255
9 years$7,120$6,504$5,937$5,416$4,939$4,356
10 years$6,343$5,733$5,176$4,669$4,208$3,653
11 years$5,707$5,104$4,557$4,063$3,619$3,090
12 years$5,178$4,581$4,044$3,564$3,136$2,633
13 years$4,731$4,140$3,613$3,147$2,735$2,257
14 years$4,348$3,763$3,247$2,793$2,397$1,944
15 years$4,016$3,437$2,931$2,491$2,111$1,681
16 years$3,726$3,154$2,658$2,230$1,865$1,459
17 years$3,470$2,905$2,418$2,004$1,654$1,270
18 years$3,243$2,684$2,208$1,806$1,471$1,108
19 years$3,041$2,487$2,021$1,632$1,311$968
20 years$2,858$2,311$1,855$1,478$1,171$848
21 years$2,694$2,153$1,706$1,341$1,048$744
22 years$2,544$2,010$1,572$1,220$939$654
23 years$2,408$1,880$1,452$1,111$843$575
24 years$2,283$1,761$1,343$1,013$758$506
25 years$2,168$1,653$1,244$925$682$446
26 years$2,063$1,553$1,153$846$614$394
27 years$1,965$1,462$1,071$774$554$348
28 years$1,874$1,378$996$709$500$307
29 years$1,790$1,300$926$651$451$271
30 years$1,712$1,227$863$597$408$240
31 years$1,639$1,160$805$548$369$212
32 years$1,570$1,098$751$504$333$188
33 years$1,506$1,040$701$463$302$166
34 years$1,446$985$655$426$273$147
35 years$1,389$935$612$393$247$130
36 years$1,336$887$573$362$224$115
37 years$1,285$842$536$333$203$102
38 years$1,238$801$502$307$184$91
39 years$1,193$761$470$283$167$80
40 years$1,150$724$441$261$152$71
41 years$1,109$689$413$241$137$63
42 years$1,071$657$388$222$125$56
43 years$1,034$626$364$205$113$50
44 years$999$596$342$189$103$44
45 years$966$569$321$175$93$39
46 years$934$543$301$162$85$35
47 years$904$518$283$149$77$31
48 years$875$494$266$138$70$27
49 years$848$472$250$128$63$24
50 years$821$451$235$118$58$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $841,000, adding $6,694 every year, while hoping to spend $36,845 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: 71/16/13 Blend
59$841,000$841,000$841,000$841,000
60$933,687$889,114$876,078$996,885
61$989,720$893,478$866,224$1,044,037
62$1,050,234$896,820$854,805$1,090,515
63$1,115,646$899,053$841,730$1,140,421
64$1,186,417$900,081$826,902$1,194,085
65$1,263,051$899,805$810,223$1,251,872
66$1,346,103$898,116$791,586$1,314,185
67$1,436,185$894,903$770,884$1,381,468
68$1,533,968$890,045$748,000$1,454,211
69$1,640,190$883,415$722,816$1,532,955
70$1,755,664$874,878$695,205$1,618,296
71$1,881,284$864,289$665,037$1,710,891
72$2,018,034$851,498$632,174$1,811,467
73$2,166,995$836,343$596,473$1,920,824
74$2,329,358$818,653$557,785$2,039,845
75$2,506,435$798,249$515,953$2,169,504
76$2,699,666$774,939$470,813$2,310,877
77$2,910,641$748,520$422,194$2,465,148
78$3,141,107$718,778$369,918$2,633,625
79$3,392,989$685,486$313,799$2,817,752
80$3,668,404$648,406$253,642$3,019,119
81$3,969,686$607,282$189,243$3,239,482
82$4,299,402$561,847$120,391$3,480,776
83$4,660,381$511,817$46,863$3,745,137
84$5,055,736$456,892$0$4,034,922
85$5,488,897$396,757$0$4,357,110
86$5,963,642$331,074$0$4,717,406
87$6,484,128$259,492$0$5,112,498
88$7,054,939$181,637$0$5,545,906
89$7,681,119$97,114$0$6,021,514
90$8,368,227$5,506$0$6,543,599
91$9,122,385$0$0$7,116,878
92$9,950,335$0$0$7,763,032
93$10,859,507$0$0$8,473,683
94$11,858,082$0$0$9,254,264
95$12,955,076$0$0$10,111,826
96$14,160,418$0$0$11,054,139
97$15,485,049$0$0$12,089,761
98$16,941,021$0$0$13,228,122
99$18,541,611$0$0$14,479,609
100$20,301,449$0$0$15,855,668