Can I retire at age 60 with 862,000?

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 $862,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$71,183$70,549$69,930$69,327$68,737$66,670
2 years$35,239$34,583$33,947$33,330$32,732$30,667
3 years$23,259$22,600$21,966$21,355$20,766$18,768
4 years$17,271$16,614$15,986$15,385$14,811$12,895
5 years$13,678$13,025$12,405$11,817$11,259$9,430
6 years$11,284$10,636$10,025$9,450$8,909$7,169
7 years$9,575$8,932$8,331$7,770$7,245$5,594
8 years$8,294$7,657$7,065$6,518$6,011$4,447
9 years$7,297$6,666$6,086$5,552$5,062$3,584
10 years$6,501$5,876$5,305$4,786$4,313$2,919
11 years$5,850$5,231$4,671$4,165$3,709$2,397
12 years$5,307$4,695$4,145$3,653$3,214$1,981
13 years$4,849$4,243$3,704$3,225$2,803$1,646
14 years$4,456$3,857$3,328$2,863$2,457$1,373
15 years$4,116$3,523$3,004$2,553$2,163$1,149
16 years$3,819$3,233$2,724$2,286$1,912$965
17 years$3,557$2,977$2,479$2,054$1,695$812
18 years$3,324$2,751$2,263$1,851$1,507$684
19 years$3,117$2,550$2,071$1,673$1,344$578
20 years$2,930$2,369$1,901$1,515$1,200$489
21 years$2,761$2,207$1,749$1,375$1,074$414
22 years$2,608$2,060$1,612$1,250$963$351
23 years$2,468$1,927$1,488$1,138$864$297
24 years$2,340$1,805$1,376$1,038$777$252
25 years$2,222$1,694$1,275$948$699$214
26 years$2,114$1,592$1,182$867$630$182
27 years$2,014$1,498$1,098$794$568$155
28 years$1,921$1,412$1,020$727$512$131
29 years$1,835$1,332$950$667$462$112
30 years$1,755$1,258$885$612$418$95
31 years$1,680$1,189$825$562$378$81
32 years$1,609$1,125$769$517$342$69
33 years$1,544$1,066$718$475$309$59
34 years$1,482$1,010$671$437$280$50
35 years$1,424$958$628$402$254$42
36 years$1,369$909$587$371$230$36
37 years$1,317$863$549$341$208$31
38 years$1,269$821$515$315$189$26
39 years$1,222$780$482$290$171$22
40 years$1,178$742$452$268$155$19
41 years$1,137$707$424$247$141$16
42 years$1,097$673$397$228$128$14
43 years$1,060$641$373$210$116$12
44 years$1,024$611$350$194$105$10
45 years$990$583$329$179$96$9
46 years$958$556$309$166$87$7
47 years$927$531$290$153$79$6
48 years$897$507$273$141$72$5
49 years$869$484$256$131$65$4
50 years$842$462$241$121$59$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $862,000, adding $2,113 every year, while hoping to spend $42,465 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: 62/21/17 Blend
59$862,000$862,000$862,000$862,000
60$952,104$906,418$893,057$1,006,923
61$1,004,036$905,650$877,792$1,043,306
62$1,059,842$903,421$860,592$1,078,035
63$1,119,872$899,615$841,348$1,114,947
64$1,184,511$894,108$819,945$1,154,257
65$1,254,181$886,769$796,263$1,196,204
66$1,329,346$877,459$770,177$1,241,054
67$1,410,516$866,031$741,554$1,289,098
68$1,498,251$852,329$710,259$1,340,661
69$1,593,166$836,187$676,146$1,396,102
70$1,695,939$817,431$639,067$1,455,818
71$1,807,313$795,873$598,864$1,520,250
72$1,928,107$771,319$555,374$1,589,885
73$2,059,220$743,559$508,425$1,665,261
74$2,201,641$712,374$457,838$1,746,975
75$2,356,459$677,531$403,426$1,835,686
76$2,524,872$638,784$344,995$1,932,125
77$2,708,196$595,872$282,340$2,037,098
78$2,907,882$548,520$215,248$2,151,497
79$3,125,524$496,436$143,497$2,276,310
80$3,362,879$439,312$66,855$2,412,628
81$3,621,878$376,824$0$2,561,657
82$3,904,649$308,627$0$2,727,440
83$4,213,532$234,359$0$2,921,857
84$4,551,106$153,636$0$3,134,447
85$4,920,208$66,053$0$3,367,058
86$5,323,962$0$0$3,621,731
87$5,765,808$0$0$3,907,375
88$6,249,535$0$0$4,236,868
89$6,779,315$0$0$4,597,792
90$7,359,740$0$0$4,993,288
91$7,995,870$0$0$5,426,809
92$8,693,276$0$0$5,902,162
93$9,458,096$0$0$6,423,538
94$10,297,087$0$0$6,995,554
95$11,217,695$0$0$7,623,295
96$12,228,119$0$0$8,312,364
97$13,337,393$0$0$9,068,929
98$14,555,465$0$0$9,899,788
99$15,893,297$0$0$10,812,428
100$17,362,964$0$0$11,815,098