Can I retire at age 60 with 885,000?

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 $885,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$73,082$72,431$71,796$71,176$70,571$68,977
2 years$36,179$35,506$34,853$34,219$33,605$32,008
3 years$23,880$23,203$22,552$21,925$21,321$19,770
4 years$17,732$17,057$16,412$15,796$15,206$13,714
5 years$14,043$13,373$12,736$12,132$11,559$10,130
6 years$11,585$10,920$10,293$9,702$9,147$7,781
7 years$9,830$9,171$8,553$7,977$7,439$6,137
8 years$8,515$7,861$7,254$6,692$6,171$4,934
9 years$7,492$6,844$6,248$5,700$5,197$4,022
10 years$6,674$6,033$5,447$4,913$4,428$3,315
11 years$6,006$5,371$4,795$4,276$3,808$2,756
12 years$5,449$4,820$4,256$3,751$3,300$2,306
13 years$4,978$4,356$3,802$3,311$2,878$1,940
14 years$4,575$3,960$3,416$2,939$2,523$1,640
15 years$4,226$3,617$3,085$2,621$2,221$1,391
16 years$3,921$3,319$2,797$2,347$1,963$1,184
17 years$3,652$3,057$2,545$2,109$1,741$1,010
18 years$3,413$2,824$2,323$1,901$1,548$864
19 years$3,200$2,618$2,127$1,717$1,379$740
20 years$3,008$2,432$1,952$1,555$1,232$635
21 years$2,834$2,266$1,795$1,412$1,103$545
22 years$2,677$2,115$1,655$1,283$988$469
23 years$2,534$1,978$1,528$1,169$887$403
24 years$2,402$1,853$1,413$1,066$797$348
25 years$2,282$1,739$1,309$974$718$300
26 years$2,170$1,635$1,214$890$646$258
27 years$2,068$1,538$1,127$815$583$223
28 years$1,972$1,450$1,048$747$526$193
29 years$1,884$1,368$975$685$475$166
30 years$1,801$1,291$908$628$429$144
31 years$1,724$1,221$847$577$388$124
32 years$1,652$1,155$790$530$351$107
33 years$1,585$1,094$738$488$318$93
34 years$1,521$1,037$689$449$287$80
35 years$1,462$983$644$413$260$69
36 years$1,406$933$603$380$236$60
37 years$1,353$887$564$351$214$52
38 years$1,302$843$528$323$194$45
39 years$1,255$801$495$298$176$39
40 years$1,210$762$464$275$159$34
41 years$1,167$726$435$253$145$29
42 years$1,127$691$408$234$131$25
43 years$1,088$658$383$216$119$22
44 years$1,052$628$359$199$108$19
45 years$1,017$598$337$184$98$16
46 years$983$571$317$170$89$14
47 years$951$545$298$157$81$12
48 years$921$520$280$145$73$11
49 years$892$497$263$134$67$9
50 years$864$474$247$124$61$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $885,000, adding $2,981 every year, while hoping to spend $23,152 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: 44/37/19 Blend
59$885,000$885,000$885,000$885,000
60$978,345$931,440$917,722$1,015,895
61$1,053,503$952,447$923,833$1,063,613
62$1,135,550$973,707$929,371$1,112,789
63$1,225,167$995,209$934,295$1,165,610
64$1,323,098$1,016,939$938,559$1,222,424
65$1,430,167$1,038,882$942,113$1,283,613
66$1,547,278$1,061,021$944,909$1,349,601
67$1,675,429$1,083,340$946,891$1,420,853
68$1,815,716$1,105,817$948,006$1,497,884
69$1,969,349$1,128,431$948,194$1,581,258
70$2,137,658$1,151,160$947,393$1,671,601
71$2,322,108$1,173,976$945,540$1,769,600
72$2,524,314$1,196,852$942,567$1,876,014
73$2,746,054$1,219,757$938,403$1,991,680
74$2,989,285$1,242,659$932,973$2,117,519
75$3,256,165$1,265,522$926,200$2,254,548
76$3,549,069$1,288,308$918,003$2,403,888
77$3,870,613$1,310,974$908,295$2,566,775
78$4,223,680$1,333,476$896,988$2,744,573
79$4,611,446$1,355,767$883,987$2,938,782
80$5,037,407$1,377,793$869,194$3,151,061
81$5,505,418$1,399,500$852,507$3,383,235
82$6,019,722$1,420,828$833,819$3,637,319
83$6,584,998$1,441,712$813,015$3,915,535
84$7,206,397$1,462,085$789,980$4,220,329
85$7,889,594$1,481,872$764,590$4,554,402
86$8,640,845$1,500,996$736,715$4,920,730
87$9,467,038$1,519,372$706,222$5,322,596
88$10,375,765$1,536,910$672,970$5,763,618
89$11,375,389$1,553,515$636,811$6,247,784
90$12,475,126$1,569,084$597,591$6,779,495
91$13,685,128$1,583,509$555,150$7,363,598
92$15,016,584$1,596,673$509,320$8,005,440
93$16,481,818$1,608,453$459,925$8,710,916
94$18,094,413$1,618,717$406,781$9,486,525
95$19,869,333$1,627,324$349,699$10,339,429
96$21,823,068$1,634,125$288,476$11,277,529
97$23,973,786$1,638,962$222,905$12,309,530
98$26,341,507$1,641,667$152,768$13,445,032
99$28,948,291$1,642,059$77,836$14,694,618
100$31,818,446$1,639,949$0$16,069,952