Can I retire at age 60 with 887,000?

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 $887,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$73,248$72,595$71,959$71,337$70,731$68,631
2 years$36,261$35,586$34,931$34,297$33,681$31,584
3 years$23,934$23,256$22,603$21,974$21,369$19,339
4 years$17,772$17,095$16,449$15,831$15,240$13,293
5 years$14,075$13,403$12,765$12,160$11,585$9,727
6 years$11,612$10,945$10,316$9,724$9,167$7,398
7 years$9,853$9,191$8,573$7,995$7,455$5,776
8 years$8,534$7,879$7,270$6,707$6,185$4,595
9 years$7,509$6,860$6,262$5,713$5,209$3,706
10 years$6,689$6,047$5,459$4,924$4,438$3,020
11 years$6,019$5,383$4,806$4,286$3,817$2,482
12 years$5,461$4,831$4,265$3,759$3,308$2,052
13 years$4,990$4,366$3,811$3,319$2,884$1,706
14 years$4,585$3,969$3,424$2,946$2,528$1,424
15 years$4,236$3,625$3,092$2,627$2,226$1,193
16 years$3,930$3,326$2,803$2,352$1,967$1,002
17 years$3,660$3,063$2,551$2,114$1,745$844
18 years$3,421$2,831$2,328$1,905$1,551$712
19 years$3,207$2,623$2,131$1,721$1,383$602
20 years$3,015$2,438$1,956$1,559$1,235$509
21 years$2,841$2,271$1,799$1,415$1,105$431
22 years$2,683$2,120$1,658$1,286$991$366
23 years$2,539$1,983$1,531$1,172$889$310
24 years$2,408$1,857$1,416$1,068$799$264
25 years$2,287$1,743$1,312$976$719$224
26 years$2,175$1,638$1,216$892$648$190
27 years$2,072$1,542$1,130$817$584$162
28 years$1,977$1,453$1,050$748$527$138
29 years$1,888$1,371$977$686$476$117
30 years$1,806$1,294$910$630$430$100
31 years$1,728$1,224$849$578$389$85
32 years$1,656$1,158$792$532$352$72
33 years$1,588$1,096$739$489$318$62
34 years$1,525$1,039$691$450$288$53
35 years$1,465$986$646$414$261$45
36 years$1,409$936$604$381$236$38
37 years$1,356$889$565$351$214$32
38 years$1,305$844$529$324$194$28
39 years$1,258$803$496$299$176$24
40 years$1,213$764$465$275$160$20
41 years$1,170$727$436$254$145$17
42 years$1,129$693$409$234$132$15
43 years$1,091$660$384$216$119$12
44 years$1,054$629$360$200$108$11
45 years$1,019$600$338$185$98$9
46 years$985$572$318$170$89$8
47 years$954$546$298$158$81$7
48 years$923$521$280$146$74$6
49 years$894$498$264$135$67$5
50 years$866$476$248$124$61$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $887,000, adding $4,407 every year, while hoping to spend $35,434 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: 80/12/8 Blend
59$887,000$887,000$887,000$887,000
60$982,020$935,009$921,260$1,059,208
61$1,044,484$943,123$914,421$1,118,541
62$1,112,133$950,447$906,165$1,178,526
63$1,185,456$956,904$896,407$1,243,285
64$1,264,995$962,415$885,059$1,313,276
65$1,351,343$966,892$872,028$1,389,004
66$1,445,155$970,244$857,215$1,471,027
67$1,547,148$972,374$840,520$1,559,957
68$1,658,114$973,178$821,834$1,656,470
69$1,778,924$972,545$801,047$1,761,310
70$1,910,533$970,359$778,042$1,875,297
71$2,053,998$966,496$752,696$1,999,335
72$2,210,475$960,825$724,881$2,134,418
73$2,381,244$953,205$694,465$2,281,644
74$2,567,707$943,489$661,306$2,442,221
75$2,771,413$931,519$625,259$2,617,481
76$2,994,063$917,129$586,171$2,808,891
77$3,237,532$900,144$543,883$3,018,070
78$3,503,885$880,375$498,227$3,246,799
79$3,795,393$857,626$449,030$3,497,043
80$4,114,560$831,686$396,109$3,770,967
81$4,464,141$802,335$339,275$4,070,957
82$4,847,171$769,337$278,328$4,399,642
83$5,266,992$732,444$213,062$4,759,922
84$5,727,286$691,394$143,260$5,154,989
85$6,232,106$645,909$68,696$5,588,366
86$6,785,917$595,695$0$6,063,933
87$7,393,639$540,442$0$6,586,894
88$8,060,688$479,822$0$7,167,354
89$8,793,032$413,487$0$7,804,659
90$9,597,246$341,073$0$8,504,559
91$10,480,570$262,190$0$9,273,390
92$11,450,981$176,431$0$10,118,132
93$12,517,269$83,364$0$11,046,479
94$13,689,114$0$0$12,066,909
95$14,977,182$0$0$13,191,071
96$16,393,225$0$0$14,439,050
97$17,950,187$0$0$15,811,252
98$19,662,333$0$0$17,320,250
99$21,545,376$0$0$18,979,897
100$23,616,630$0$0$20,805,458