Can I retire at age 60 with 880,000?

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 $880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$72,670$72,022$71,391$70,774$70,172$67,442
2 years$35,975$35,305$34,656$34,026$33,415$30,697
3 years$23,745$23,072$22,425$21,801$21,200$18,580
4 years$17,631$16,961$16,319$15,706$15,120$12,618
5 years$13,964$13,297$12,664$12,064$11,494$9,116
6 years$11,520$10,858$10,235$9,648$9,095$6,843
7 years$9,775$9,119$8,505$7,932$7,397$5,270
8 years$8,467$7,816$7,213$6,654$6,136$4,133
9 years$7,450$6,806$6,213$5,668$5,168$3,285
10 years$6,637$5,999$5,416$4,886$4,403$2,637
11 years$5,972$5,340$4,768$4,252$3,787$2,133
12 years$5,418$4,793$4,232$3,729$3,281$1,736
13 years$4,950$4,332$3,781$3,293$2,862$1,420
14 years$4,549$3,937$3,397$2,923$2,508$1,166
15 years$4,202$3,597$3,067$2,607$2,209$960
16 years$3,899$3,300$2,781$2,334$1,952$793
17 years$3,631$3,039$2,530$2,097$1,731$656
18 years$3,394$2,808$2,310$1,890$1,539$543
19 years$3,182$2,603$2,115$1,708$1,372$451
20 years$2,991$2,419$1,941$1,547$1,225$375
21 years$2,818$2,253$1,785$1,404$1,096$312
22 years$2,662$2,103$1,645$1,276$983$259
23 years$2,519$1,967$1,519$1,162$882$216
24 years$2,389$1,843$1,405$1,060$793$180
25 years$2,269$1,729$1,301$968$714$150
26 years$2,158$1,625$1,207$885$643$125
27 years$2,056$1,530$1,121$810$579$104
28 years$1,961$1,441$1,042$742$523$87
29 years$1,873$1,360$969$681$472$73
30 years$1,791$1,284$903$625$427$61
31 years$1,715$1,214$842$574$386$51
32 years$1,643$1,149$785$527$349$42
33 years$1,576$1,088$733$485$316$35
34 years$1,513$1,031$685$446$286$29
35 years$1,454$978$641$411$259$25
36 years$1,398$928$599$378$235$21
37 years$1,345$882$561$349$213$17
38 years$1,295$838$525$321$193$14
39 years$1,248$797$492$296$175$12
40 years$1,203$758$461$273$159$10
41 years$1,161$721$433$252$144$8
42 years$1,120$687$406$233$131$7
43 years$1,082$655$381$215$118$6
44 years$1,046$624$357$198$108$5
45 years$1,011$595$336$183$98$4
46 years$978$568$315$169$89$3
47 years$946$542$296$156$80$3
48 years$916$517$278$144$73$2
49 years$887$494$262$133$66$2
50 years$859$472$246$123$60$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $880,000, adding $5,103 every year, while hoping to spend $37,670 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: 43/48/9 Blend
59$880,000$880,000$880,000$880,000
60$975,024$928,384$914,744$1,014,199
61$1,034,396$933,794$905,307$1,047,371
62$1,098,561$938,207$894,292$1,079,063
63$1,167,969$941,533$881,605$1,112,539
64$1,243,113$943,680$867,150$1,147,978
65$1,324,536$944,546$850,825$1,185,576
66$1,412,835$944,025$832,524$1,225,553
67$1,508,666$942,004$812,136$1,268,153
68$1,612,751$938,363$789,543$1,313,648
69$1,725,884$932,976$764,626$1,362,337
70$1,848,939$925,706$737,255$1,414,555
71$1,982,876$916,411$707,299$1,470,674
72$2,128,753$904,939$674,617$1,531,104
73$2,287,734$891,129$639,065$1,596,303
74$2,461,099$874,810$600,489$1,666,778
75$2,650,258$855,803$558,733$1,743,091
76$2,856,761$833,915$513,628$1,825,866
77$3,082,318$808,944$465,002$1,915,793
78$3,328,808$780,676$412,673$2,013,640
79$3,598,301$748,883$356,452$2,120,255
80$3,893,076$713,327$296,141$2,236,579
81$4,215,642$673,752$231,534$2,363,654
82$4,568,762$629,890$162,415$2,502,635
83$4,955,479$581,458$88,558$2,654,798
84$5,379,143$528,154$9,730$2,821,560
85$5,843,444$469,662$0$3,004,485
86$6,352,446$405,647$0$3,212,453
87$6,910,625$335,753$0$3,441,696
88$7,522,910$259,606$0$3,693,428
89$8,194,732$176,812$0$3,970,023
90$8,932,070$86,952$0$4,274,104
91$9,741,514$0$0$4,608,571
92$10,630,320$0$0$4,982,129
93$11,606,481$0$0$5,442,955
94$12,678,806$0$0$5,949,295
95$13,856,993$0$0$6,505,742
96$15,151,732$0$0$7,117,360
97$16,574,796$0$0$7,789,727
98$18,139,157$0$0$8,528,986
99$19,859,105$0$0$9,341,908
100$21,750,384$0$0$10,235,951