Can I retire at age 60 with 883,000?

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 $883,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$72,917$72,268$71,634$71,016$70,412$68,185
2 years$36,098$35,425$34,774$34,142$33,529$31,306
3 years$23,826$23,151$22,501$21,875$21,272$19,123
4 years$17,691$17,018$16,375$15,760$15,172$13,112
5 years$14,012$13,343$12,708$12,105$11,533$9,568
6 years$11,559$10,895$10,270$9,681$9,126$7,258
7 years$9,808$9,150$8,534$7,959$7,422$5,651
8 years$8,496$7,843$7,238$6,677$6,157$4,482
9 years$7,475$6,829$6,234$5,687$5,185$3,603
10 years$6,659$6,019$5,435$4,902$4,418$2,928
11 years$5,992$5,359$4,785$4,266$3,800$2,398
12 years$5,437$4,810$4,246$3,742$3,293$1,976
13 years$4,967$4,346$3,794$3,304$2,871$1,638
14 years$4,565$3,951$3,409$2,933$2,517$1,362
15 years$4,216$3,609$3,078$2,615$2,216$1,137
16 years$3,912$3,311$2,790$2,342$1,959$952
17 years$3,644$3,050$2,539$2,104$1,737$799
18 years$3,405$2,818$2,318$1,896$1,544$671
19 years$3,192$2,612$2,122$1,713$1,376$565
20 years$3,001$2,427$1,947$1,552$1,229$476
21 years$2,828$2,261$1,791$1,408$1,100$402
22 years$2,671$2,110$1,651$1,281$986$340
23 years$2,528$1,974$1,524$1,166$885$287
24 years$2,397$1,849$1,410$1,064$796$243
25 years$2,277$1,735$1,306$971$716$205
26 years$2,166$1,631$1,211$888$645$174
27 years$2,063$1,535$1,124$813$581$147
28 years$1,968$1,446$1,045$745$525$125
29 years$1,880$1,364$973$683$474$106
30 years$1,797$1,289$906$627$428$90
31 years$1,721$1,218$845$576$387$76
32 years$1,649$1,153$788$529$350$65
33 years$1,581$1,092$736$487$317$55
34 years$1,518$1,034$688$448$287$46
35 years$1,459$981$643$412$260$39
36 years$1,402$931$601$380$235$33
37 years$1,349$885$563$350$213$28
38 years$1,299$841$527$322$193$24
39 years$1,252$799$494$297$175$20
40 years$1,207$761$463$274$159$17
41 years$1,165$724$434$253$144$15
42 years$1,124$689$407$233$131$12
43 years$1,086$657$382$215$119$11
44 years$1,049$626$359$199$108$9
45 years$1,014$597$337$184$98$8
46 years$981$570$316$170$89$6
47 years$949$544$297$157$81$6
48 years$919$519$279$145$73$5
49 years$890$496$262$134$67$4
50 years$862$473$247$124$60$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $883,000, adding $4,864 every year, while hoping to spend $20,153 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: 46/35/19 Blend
59$883,000$883,000$883,000$883,000
60$978,083$931,284$917,598$1,017,562
61$1,056,405$955,475$926,895$1,069,835
62$1,142,040$980,175$935,827$1,124,116
63$1,235,714$1,005,388$944,363$1,182,583
64$1,338,223$1,031,119$952,466$1,245,636
65$1,450,447$1,057,369$960,098$1,313,713
66$1,573,353$1,084,141$967,222$1,387,299
67$1,708,007$1,111,435$973,796$1,466,925
68$1,855,582$1,139,254$979,777$1,553,179
69$2,017,370$1,167,597$985,118$1,646,707
70$2,194,795$1,196,462$989,773$1,748,220
71$2,389,425$1,225,849$993,691$1,858,503
72$2,602,986$1,255,755$996,819$1,978,421
73$2,837,380$1,286,177$999,102$2,108,924
74$3,094,702$1,317,109$1,000,481$2,251,062
75$3,377,260$1,348,546$1,000,896$2,405,991
76$3,687,596$1,380,480$1,000,281$2,574,985
77$4,028,511$1,412,904$998,571$2,759,446
78$4,403,090$1,445,807$995,694$2,960,921
79$4,814,732$1,479,178$991,576$3,181,115
80$5,267,181$1,513,004$986,140$3,421,905
81$5,764,562$1,547,270$979,304$3,685,361
82$6,311,420$1,581,958$970,984$3,973,765
83$6,912,761$1,617,051$961,088$4,289,630
84$7,574,104$1,652,527$949,526$4,635,726
85$8,301,524$1,688,364$936,197$5,015,107
86$9,101,720$1,724,534$921,000$5,431,138
87$9,982,070$1,761,010$903,827$5,887,528
88$10,950,702$1,797,760$884,567$6,388,365
89$12,016,574$1,834,751$863,100$6,938,152
90$13,189,555$1,871,945$839,305$7,541,856
91$14,480,520$1,909,300$813,052$8,204,950
92$15,901,451$1,946,774$784,207$8,933,463
93$17,465,551$1,984,317$752,629$9,734,044
94$19,187,366$2,021,878$718,171$10,614,019
95$21,082,927$2,059,399$680,680$11,581,463
96$23,169,896$2,096,820$639,993$12,645,275
97$25,467,736$2,134,075$595,943$13,815,266
98$27,997,893$2,171,093$548,355$15,102,244
99$30,783,998$2,207,796$497,045$16,518,127
100$33,852,090$2,244,103$441,821$18,076,045