Can I retire at age 60 with 881,000?

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 $881,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$72,752$72,104$71,472$70,855$70,252$68,947
2 years$36,016$35,345$34,695$34,065$33,453$32,143
3 years$23,772$23,098$22,450$21,826$21,224$19,950
4 years$17,651$16,980$16,338$15,724$15,137$13,909
5 years$13,980$13,312$12,679$12,078$11,507$10,328
6 years$11,533$10,871$10,246$9,659$9,105$7,976
7 years$9,786$9,129$8,515$7,941$7,405$6,327
8 years$8,476$7,825$7,221$6,661$6,143$5,116
9 years$7,458$6,813$6,220$5,674$5,173$4,196
10 years$6,644$6,006$5,422$4,891$4,408$3,480
11 years$5,979$5,346$4,774$4,257$3,791$2,911
12 years$5,424$4,799$4,237$3,734$3,285$2,452
13 years$4,956$4,337$3,785$3,296$2,865$2,077
14 years$4,554$3,942$3,401$2,926$2,511$1,767
15 years$4,207$3,601$3,071$2,610$2,211$1,510
16 years$3,903$3,304$2,784$2,337$1,954$1,294
17 years$3,635$3,043$2,533$2,099$1,733$1,112
18 years$3,398$2,812$2,313$1,892$1,541$957
19 years$3,185$2,606$2,117$1,710$1,373$826
20 years$2,994$2,421$1,943$1,548$1,227$714
21 years$2,822$2,255$1,787$1,405$1,098$618
22 years$2,665$2,105$1,647$1,278$984$536
23 years$2,522$1,969$1,521$1,164$883$465
24 years$2,391$1,845$1,406$1,061$794$403
25 years$2,271$1,731$1,303$969$714$351
26 years$2,161$1,627$1,208$886$643$305
27 years$2,058$1,531$1,122$811$580$265
28 years$1,964$1,443$1,043$743$523$231
29 years$1,875$1,361$971$682$473$201
30 years$1,793$1,286$904$625$427$175
31 years$1,717$1,215$843$574$386$153
32 years$1,645$1,150$786$528$349$133
33 years$1,578$1,089$734$485$316$116
34 years$1,515$1,032$686$447$286$101
35 years$1,455$979$641$411$259$88
36 years$1,399$929$600$379$235$77
37 years$1,346$883$562$349$213$67
38 years$1,296$839$526$322$193$59
39 years$1,249$798$493$297$175$51
40 years$1,204$759$462$274$159$45
41 years$1,162$722$433$252$144$39
42 years$1,122$688$406$233$131$34
43 years$1,083$655$381$215$119$30
44 years$1,047$625$358$199$108$26
45 years$1,012$596$336$183$98$23
46 years$979$568$316$169$89$20
47 years$947$542$296$156$81$17
48 years$917$518$279$145$73$15
49 years$888$494$262$134$66$13
50 years$860$472$246$123$60$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $881,000, adding $5,552 every year, while hoping to spend $45,612 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: 55/23/22 Blend
59$881,000$881,000$881,000$881,000
60$976,589$929,896$916,240$1,024,164
61$1,027,670$926,930$898,404$1,054,408
62$1,082,433$922,290$878,441$1,082,056
63$1,141,205$915,846$856,232$1,111,191
64$1,204,345$907,459$831,653$1,141,970
65$1,272,247$896,984$804,572$1,174,566
66$1,345,345$884,265$774,854$1,209,174
67$1,424,114$869,137$742,355$1,246,010
68$1,509,075$851,427$706,926$1,285,315
69$1,600,804$830,950$668,411$1,327,356
70$1,699,929$807,510$626,646$1,372,431
71$1,807,144$780,900$581,462$1,420,871
72$1,923,211$750,903$532,678$1,473,046
73$2,048,966$717,284$480,111$1,529,363
74$2,185,331$679,801$423,564$1,590,279
75$2,333,316$638,193$362,836$1,656,297
76$2,494,036$592,187$297,713$1,727,979
77$2,668,716$541,492$227,974$1,805,946
78$2,858,702$485,801$153,388$1,890,890
79$3,065,476$424,792$73,713$1,983,574
80$3,290,670$358,122$0$2,084,848
81$3,536,077$285,430$0$2,198,309
82$3,803,674$206,333$0$2,340,981
83$4,095,633$120,428$0$2,496,764
84$4,414,348$27,289$0$2,667,004
85$4,762,452$0$0$2,853,188
86$5,142,845$0$0$3,075,570
87$5,558,718$0$0$3,326,323
88$6,013,586$0$0$3,600,670
89$6,511,319$0$0$3,900,955
90$7,056,178$0$0$4,229,759
91$7,652,854$0$0$4,589,924
92$8,306,515$0$0$4,984,581
93$9,022,852$0$0$5,417,178
94$9,808,130$0$0$5,891,511
95$10,669,253$0$0$6,411,761
96$11,613,822$0$0$6,982,536
97$12,650,211$0$0$7,608,909
98$13,787,642$0$0$8,296,467
99$15,036,276$0$0$9,051,366
100$16,407,302$0$0$9,880,389