Can I retire at age 60 with 884,000?

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 $884,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$73,000$72,350$71,715$71,096$70,491$69,012
2 years$36,139$35,466$34,813$34,181$33,567$32,084
3 years$23,853$23,177$22,526$21,900$21,296$19,855
4 years$17,712$17,038$16,393$15,778$15,189$13,801
5 years$14,028$13,358$12,722$12,119$11,546$10,215
6 years$11,572$10,908$10,281$9,691$9,136$7,864
7 years$9,819$9,160$8,544$7,968$7,430$6,217
8 years$8,505$7,852$7,246$6,684$6,164$5,009
9 years$7,484$6,837$6,241$5,693$5,191$4,094
10 years$6,667$6,026$5,441$4,908$4,423$3,382
11 years$5,999$5,365$4,790$4,271$3,804$2,819
12 years$5,443$4,815$4,251$3,746$3,296$2,365
13 years$4,973$4,351$3,798$3,308$2,875$1,995
14 years$4,570$3,955$3,413$2,936$2,520$1,691
15 years$4,221$3,613$3,081$2,618$2,219$1,439
16 years$3,916$3,315$2,793$2,345$1,961$1,228
17 years$3,648$3,053$2,542$2,107$1,739$1,050
18 years$3,409$2,821$2,320$1,898$1,546$901
19 years$3,196$2,615$2,124$1,715$1,378$774
20 years$3,004$2,430$1,950$1,554$1,231$666
21 years$2,831$2,263$1,793$1,410$1,101$574
22 years$2,674$2,113$1,653$1,282$987$495
23 years$2,531$1,976$1,526$1,168$886$427
24 years$2,400$1,851$1,411$1,065$797$369
25 years$2,279$1,737$1,307$973$717$319
26 years$2,168$1,633$1,212$889$646$276
27 years$2,065$1,537$1,126$814$582$239
28 years$1,970$1,448$1,047$746$525$207
29 years$1,882$1,366$974$684$474$180
30 years$1,799$1,290$907$628$429$156
31 years$1,723$1,219$846$576$387$135
32 years$1,651$1,154$789$530$350$117
33 years$1,583$1,093$737$487$317$102
34 years$1,520$1,036$688$448$287$88
35 years$1,460$982$644$413$260$76
36 years$1,404$932$602$380$236$66
37 years$1,351$886$563$350$214$58
38 years$1,301$842$528$323$194$50
39 years$1,253$800$494$298$176$43
40 years$1,209$761$463$274$159$38
41 years$1,166$725$435$253$144$33
42 years$1,125$690$408$234$131$28
43 years$1,087$658$382$216$119$25
44 years$1,050$627$359$199$108$21
45 years$1,015$598$337$184$98$19
46 years$982$570$317$170$89$16
47 years$950$544$297$157$81$14
48 years$920$520$280$145$73$12
49 years$891$496$263$134$67$11
50 years$863$474$247$124$61$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $884,000, adding $5,978 every year, while hoping to spend $32,621 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: 35/39/26 Blend
59$884,000$884,000$884,000$884,000
60$980,334$933,482$919,780$1,006,774
61$1,045,620$944,514$915,884$1,038,018
62$1,116,471$954,994$910,765$1,068,326
63$1,193,422$964,859$904,346$1,100,389
64$1,277,058$974,044$896,549$1,134,384
65$1,368,025$982,480$887,290$1,170,509
66$1,467,033$990,091$876,484$1,208,985
67$1,574,863$996,798$864,039$1,250,056
68$1,692,375$1,002,517$849,860$1,293,994
69$1,820,515$1,007,158$833,848$1,341,100
70$1,960,324$1,010,625$815,898$1,391,708
71$2,112,948$1,012,816$795,902$1,446,190
72$2,279,649$1,013,624$773,744$1,504,958
73$2,461,815$1,012,934$749,307$1,568,468
74$2,660,976$1,010,624$722,465$1,637,228
75$2,878,815$1,006,564$693,087$1,711,797
76$3,117,186$1,000,618$661,037$1,792,799
77$3,378,131$992,639$626,173$1,880,924
78$3,663,895$982,473$588,345$1,976,933
79$3,976,955$969,957$547,397$2,081,675
80$4,320,037$954,917$503,167$2,196,085
81$4,696,142$937,170$455,485$2,321,200
82$5,108,577$916,519$404,172$2,458,169
83$5,560,983$892,760$349,043$2,608,261
84$6,057,371$865,674$289,904$2,772,883
85$6,602,160$835,029$226,553$2,953,590
86$7,200,216$800,580$158,778$3,152,101
87$7,856,900$762,071$86,359$3,370,320
88$8,578,116$719,225$9,064$3,610,351
89$9,370,371$671,754$0$3,874,519
90$10,240,830$619,351$0$4,185,764
91$11,197,389$561,693$0$4,530,569
92$12,248,744$498,438$0$4,909,630
93$13,404,478$429,224$0$5,326,493
94$14,675,148$353,668$0$5,785,075
95$16,072,383$271,368$0$6,289,694
96$17,608,997$181,897$0$6,845,119
97$19,299,110$84,804$0$7,456,610
98$21,158,274$0$0$8,129,970
99$23,203,629$0$0$8,880,354
100$25,454,058$0$0$9,746,161