Can I retire at age 60 with 880,000?

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 $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%12.9%
1 years$72,670$72,022$71,391$70,774$70,172$69,324
2 years$35,975$35,305$34,656$34,026$33,415$32,562
3 years$23,745$23,072$22,425$21,801$21,200$20,368
4 years$17,631$16,961$16,319$15,706$15,120$14,315
5 years$13,964$13,297$12,664$12,064$11,494$10,719
6 years$11,520$10,858$10,235$9,648$9,095$8,351
7 years$9,775$9,119$8,505$7,932$7,397$6,683
8 years$8,467$7,816$7,213$6,654$6,136$5,454
9 years$7,450$6,806$6,213$5,668$5,168$4,516
10 years$6,637$5,999$5,416$4,886$4,403$3,782
11 years$5,972$5,340$4,768$4,252$3,787$3,195
12 years$5,418$4,793$4,232$3,729$3,281$2,719
13 years$4,950$4,332$3,781$3,293$2,862$2,328
14 years$4,549$3,937$3,397$2,923$2,508$2,002
15 years$4,202$3,597$3,067$2,607$2,209$1,729
16 years$3,899$3,300$2,781$2,334$1,952$1,498
17 years$3,631$3,039$2,530$2,097$1,731$1,302
18 years$3,394$2,808$2,310$1,890$1,539$1,135
19 years$3,182$2,603$2,115$1,708$1,372$991
20 years$2,991$2,419$1,941$1,547$1,225$866
21 years$2,818$2,253$1,785$1,404$1,096$759
22 years$2,662$2,103$1,645$1,276$983$666
23 years$2,519$1,967$1,519$1,162$882$585
24 years$2,389$1,843$1,405$1,060$793$514
25 years$2,269$1,729$1,301$968$714$452
26 years$2,158$1,625$1,207$885$643$398
27 years$2,056$1,530$1,121$810$579$351
28 years$1,961$1,441$1,042$742$523$310
29 years$1,873$1,360$969$681$472$273
30 years$1,791$1,284$903$625$427$241
31 years$1,715$1,214$842$574$386$213
32 years$1,643$1,149$785$527$349$188
33 years$1,576$1,088$733$485$316$166
34 years$1,513$1,031$685$446$286$147
35 years$1,454$978$641$411$259$130
36 years$1,398$928$599$378$235$115
37 years$1,345$882$561$349$213$102
38 years$1,295$838$525$321$193$90
39 years$1,248$797$492$296$175$79
40 years$1,203$758$461$273$159$70
41 years$1,161$721$433$252$144$62
42 years$1,120$687$406$233$131$55
43 years$1,082$655$381$215$118$49
44 years$1,046$624$357$198$108$43
45 years$1,011$595$336$183$98$38
46 years$978$568$315$169$89$34
47 years$946$542$296$156$80$30
48 years$916$517$278$144$73$27
49 years$887$494$262$133$66$23
50 years$859$472$246$123$60$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $880,000, adding $6,359 every year, while hoping to spend $45,556 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: 60/34/6 Blend
59$880,000$880,000$880,000$880,000
60$976,319$929,679$916,039$1,033,401
61$1,027,433$926,762$898,255$1,069,450
62$1,082,233$922,176$878,349$1,102,935
63$1,141,047$915,789$856,201$1,138,298
64$1,204,237$907,465$831,686$1,175,720
65$1,272,196$897,058$804,674$1,215,401
66$1,345,358$884,412$775,029$1,257,565
67$1,424,199$869,363$742,607$1,302,460
68$1,509,244$851,738$707,261$1,350,360
69$1,601,066$831,353$668,833$1,401,571
70$1,700,297$808,011$627,161$1,456,430
71$1,807,631$781,507$582,075$1,515,312
72$1,923,831$751,623$533,396$1,578,632
73$2,049,736$718,127$480,939$1,646,853
74$2,186,268$680,774$424,510$1,720,483
75$2,334,441$639,306$363,905$1,800,089
76$2,495,371$593,449$298,912$1,886,299
77$2,670,284$542,913$229,311$1,979,806
78$2,860,531$487,394$154,871$2,081,380
79$3,067,596$426,567$75,350$2,191,872
80$3,293,114$360,091$0$2,312,226
81$3,538,881$287,606$0$2,444,095
82$3,806,878$208,729$0$2,593,214
83$4,099,282$123,060$0$2,756,049
84$4,418,491$30,171$0$2,934,034
85$4,767,143$0$0$3,128,754
86$5,148,143$0$0$3,368,294
87$5,564,690$0$0$3,642,592
88$6,020,305$0$0$3,942,686
89$6,518,866$0$0$4,271,139
90$7,064,641$0$0$4,630,773
91$7,662,331$0$0$5,024,694
92$8,317,115$0$0$5,456,326
93$9,034,694$0$0$5,929,435
94$9,821,346$0$0$6,448,174
95$10,683,988$0$0$7,017,113
96$11,630,236$0$0$7,641,288
97$12,668,481$0$0$8,326,244
98$13,807,964$0$0$9,078,090
99$15,058,864$0$0$9,903,555
100$16,432,394$0$0$10,810,052