Can I retire at age 60 with 856,000?

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 $856,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$70,688$70,058$69,444$68,844$68,259$67,687
2 years$34,994$34,342$33,711$33,098$32,504$31,928
3 years$23,098$22,443$21,813$21,206$20,622$20,059
4 years$17,151$16,498$15,874$15,278$14,708$14,162
5 years$13,583$12,935$12,319$11,735$11,181$10,655
6 years$11,206$10,562$9,956$9,385$8,847$8,341
7 years$9,508$8,870$8,273$7,716$7,195$6,709
8 years$8,236$7,603$7,016$6,472$5,969$5,503
9 years$7,247$6,620$6,043$5,513$5,027$4,581
10 years$6,456$5,835$5,269$4,752$4,283$3,857
11 years$5,809$5,195$4,638$4,136$3,683$3,277
12 years$5,270$4,663$4,116$3,628$3,192$2,805
13 years$4,815$4,214$3,678$3,203$2,783$2,415
14 years$4,425$3,830$3,304$2,843$2,440$2,090
15 years$4,088$3,499$2,983$2,535$2,148$1,816
16 years$3,792$3,210$2,705$2,270$1,899$1,583
17 years$3,532$2,956$2,461$2,040$1,684$1,385
18 years$3,301$2,732$2,247$1,838$1,497$1,214
19 years$3,095$2,532$2,057$1,661$1,334$1,067
20 years$2,909$2,353$1,888$1,504$1,192$939
21 years$2,742$2,191$1,736$1,365$1,066$828
22 years$2,589$2,046$1,600$1,241$956$732
23 years$2,451$1,913$1,478$1,131$858$647
24 years$2,324$1,793$1,367$1,031$771$573
25 years$2,207$1,682$1,266$942$694$508
26 years$2,099$1,581$1,174$861$625$450
27 years$2,000$1,488$1,090$788$564$400
28 years$1,908$1,402$1,013$722$509$355
29 years$1,822$1,323$943$662$459$315
30 years$1,742$1,249$878$608$415$280
31 years$1,668$1,181$819$558$375$249
32 years$1,598$1,117$764$513$339$222
33 years$1,533$1,058$713$472$307$198
34 years$1,472$1,003$667$434$278$176
35 years$1,414$951$623$400$252$157
36 years$1,360$903$583$368$228$140
37 years$1,308$857$546$339$207$125
38 years$1,260$815$511$312$188$111
39 years$1,214$775$479$288$170$99
40 years$1,170$737$449$266$154$88
41 years$1,129$702$421$245$140$79
42 years$1,090$668$395$226$127$70
43 years$1,053$637$370$209$115$63
44 years$1,017$607$348$193$105$56
45 years$983$579$326$178$95$50
46 years$951$552$307$165$86$44
47 years$920$527$288$152$78$40
48 years$891$503$271$140$71$35
49 years$863$480$254$130$65$32
50 years$836$459$239$120$59$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $856,000, adding $4,363 every year, while hoping to spend $53,005 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: 63/11/26 Blend
59$856,000$856,000$856,000$856,000
60$947,812$902,444$889,176$1,000,739
61$988,092$890,267$862,567$1,024,921
62$1,030,704$875,717$833,290$1,045,098
63$1,075,830$858,621$801,199$1,065,975
64$1,123,669$838,798$766,143$1,087,628
65$1,174,437$816,053$727,963$1,110,143
66$1,228,373$790,183$686,493$1,133,618
67$1,285,736$760,970$641,559$1,158,160
68$1,346,810$728,186$592,980$1,183,892
69$1,411,906$691,589$540,566$1,210,951
70$1,481,365$650,922$484,120$1,239,492
71$1,555,560$605,913$423,434$1,269,687
72$1,634,901$556,276$358,293$1,301,728
73$1,719,836$501,709$288,471$1,335,832
74$1,810,857$441,890$213,732$1,372,241
75$1,908,503$376,482$133,831$1,411,223
76$2,013,367$305,126$48,511$1,453,081
77$2,126,098$227,444$0$1,498,149
78$2,247,409$143,039$0$1,558,604
79$2,378,085$51,488$0$1,638,189
80$2,518,985$0$0$1,723,980
81$2,671,054$0$0$1,822,344
82$2,835,331$0$0$1,935,385
83$3,012,957$0$0$2,057,661
84$3,205,185$0$0$2,190,044
85$3,413,396$0$0$2,333,488
86$3,639,105$0$0$2,489,045
87$3,883,979$0$0$2,657,871
88$4,149,850$0$0$2,841,239
89$4,438,737$0$0$3,040,546
90$4,752,856$0$0$3,257,333
91$5,094,649$0$0$3,493,290
92$5,466,800$0$0$3,750,283
93$5,872,264$0$0$4,030,360
94$6,314,292$0$0$4,335,777
95$6,796,464$0$0$4,669,018
96$7,322,718$0$0$5,032,816
97$7,897,390$0$0$5,430,180
98$8,525,253$0$0$5,864,421
99$9,211,560$0$0$6,339,186
100$9,962,099$0$0$6,858,489