Can I retire at age 60 with 884,000?

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 $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%16.7%
1 years$73,000$72,350$71,715$71,096$70,491$68,565
2 years$36,139$35,466$34,813$34,181$33,567$31,640
3 years$23,853$23,177$22,526$21,900$21,296$19,430
4 years$17,712$17,038$16,393$15,778$15,189$13,396
5 years$14,028$13,358$12,722$12,119$11,546$9,833
6 years$11,572$10,908$10,281$9,691$9,136$7,504
7 years$9,819$9,160$8,544$7,968$7,430$5,879
8 years$8,505$7,852$7,246$6,684$6,164$4,693
9 years$7,484$6,837$6,241$5,693$5,191$3,798
10 years$6,667$6,026$5,441$4,908$4,423$3,107
11 years$5,999$5,365$4,790$4,271$3,804$2,563
12 years$5,443$4,815$4,251$3,746$3,296$2,128
13 years$4,973$4,351$3,798$3,308$2,875$1,776
14 years$4,570$3,955$3,413$2,936$2,520$1,489
15 years$4,221$3,613$3,081$2,618$2,219$1,253
16 years$3,916$3,315$2,793$2,345$1,961$1,057
17 years$3,648$3,053$2,542$2,107$1,739$894
18 years$3,409$2,821$2,320$1,898$1,546$757
19 years$3,196$2,615$2,124$1,715$1,378$643
20 years$3,004$2,430$1,950$1,554$1,231$547
21 years$2,831$2,263$1,793$1,410$1,101$465
22 years$2,674$2,113$1,653$1,282$987$396
23 years$2,531$1,976$1,526$1,168$886$338
24 years$2,400$1,851$1,411$1,065$797$288
25 years$2,279$1,737$1,307$973$717$246
26 years$2,168$1,633$1,212$889$646$210
27 years$2,065$1,537$1,126$814$582$180
28 years$1,970$1,448$1,047$746$525$154
29 years$1,882$1,366$974$684$474$131
30 years$1,799$1,290$907$628$429$112
31 years$1,723$1,219$846$576$387$96
32 years$1,651$1,154$789$530$350$82
33 years$1,583$1,093$737$487$317$70
34 years$1,520$1,036$688$448$287$60
35 years$1,460$982$644$413$260$52
36 years$1,404$932$602$380$236$44
37 years$1,351$886$563$350$214$38
38 years$1,301$842$528$323$194$32
39 years$1,253$800$494$298$176$28
40 years$1,209$761$463$274$159$24
41 years$1,166$725$435$253$144$20
42 years$1,125$690$408$234$131$17
43 years$1,087$658$382$216$119$15
44 years$1,050$627$359$199$108$13
45 years$1,015$598$337$184$98$11
46 years$982$570$317$170$89$9
47 years$950$544$297$157$81$8
48 years$920$520$280$145$73$7
49 years$891$496$263$134$67$6
50 years$863$474$247$124$61$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $884,000, adding $6,550 every year, while hoping to spend $21,430 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: 57/36/7 Blend
59$884,000$884,000$884,000$884,000
60$980,924$934,072$920,370$1,034,957
61$1,058,177$957,041$928,401$1,095,047
62$1,142,592$980,416$935,983$1,157,503
63$1,234,876$1,004,196$943,078$1,225,022
64$1,335,808$1,028,377$949,647$1,298,088
65$1,446,248$1,052,954$955,647$1,377,237
66$1,567,139$1,077,923$961,035$1,463,056
67$1,699,522$1,103,276$965,765$1,556,193
68$1,844,544$1,129,007$969,788$1,657,363
69$2,003,465$1,155,106$973,054$1,767,349
70$2,177,676$1,181,563$975,508$1,887,019
71$2,368,706$1,208,368$977,095$2,017,324
72$2,578,242$1,235,506$977,756$2,159,315
73$2,808,141$1,262,964$977,429$2,314,148
74$3,060,448$1,290,725$976,049$2,483,097
75$3,337,414$1,318,772$973,548$2,667,566
76$3,641,523$1,347,084$969,854$2,869,099
77$3,975,507$1,375,639$964,893$3,089,402
78$4,342,377$1,404,415$958,585$3,330,351
79$4,745,452$1,433,383$950,850$3,594,013
80$5,188,384$1,462,515$941,600$3,882,667
81$5,675,202$1,491,781$930,746$4,198,824
82$6,210,339$1,521,144$918,192$4,545,250
83$6,798,682$1,550,569$903,840$4,924,994
84$7,445,616$1,580,015$887,587$5,341,414
85$8,157,070$1,609,438$869,323$5,798,211
86$8,939,582$1,638,791$848,936$6,299,466
87$9,800,350$1,668,022$826,306$6,849,672
88$10,747,307$1,697,077$801,309$7,453,784
89$11,789,195$1,725,896$773,815$8,117,259
90$12,935,644$1,754,416$743,689$8,846,114
91$14,197,265$1,782,568$710,788$9,646,978
92$15,585,751$1,810,278$674,964$10,527,156
93$17,113,983$1,837,467$636,061$11,494,700
94$18,796,157$1,864,051$593,917$12,558,482
95$20,647,914$1,889,939$548,362$13,728,282
96$22,686,489$1,915,033$499,220$15,014,875
97$24,930,872$1,939,231$446,305$16,430,138
98$27,401,988$1,962,421$389,423$17,987,158
99$30,122,895$1,984,484$328,373$19,700,361
100$33,119,001$2,005,294$262,944$21,585,643