Can I retire at age 60 with 889,000?

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 $889,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$73,413$72,759$72,121$71,498$70,890$69,459
2 years$36,343$35,666$35,010$34,374$33,757$32,321
3 years$23,988$23,308$22,654$22,024$21,417$20,022
4 years$17,812$17,134$16,486$15,867$15,275$13,930
5 years$14,107$13,433$12,794$12,187$11,612$10,322
6 years$11,638$10,969$10,339$9,746$9,188$7,955
7 years$9,875$9,212$8,592$8,013$7,472$6,296
8 years$8,553$7,896$7,287$6,722$6,199$5,079
9 years$7,526$6,875$6,276$5,726$5,220$4,156
10 years$6,705$6,060$5,472$4,935$4,448$3,438
11 years$6,033$5,395$4,817$4,295$3,825$2,868
12 years$5,474$4,842$4,275$3,768$3,315$2,410
13 years$5,001$4,376$3,820$3,326$2,891$2,036
14 years$4,596$3,978$3,432$2,953$2,534$1,728
15 years$4,245$3,634$3,099$2,633$2,231$1,472
16 years$3,939$3,334$2,809$2,358$1,972$1,258
17 years$3,668$3,070$2,556$2,118$1,748$1,078
18 years$3,429$2,837$2,334$1,909$1,555$925
19 years$3,214$2,629$2,136$1,725$1,386$796
20 years$3,021$2,443$1,961$1,562$1,238$686
21 years$2,847$2,276$1,803$1,418$1,108$592
22 years$2,689$2,124$1,662$1,289$993$511
23 years$2,545$1,987$1,535$1,174$891$442
24 years$2,413$1,862$1,419$1,071$801$383
25 years$2,292$1,747$1,315$978$721$332
26 years$2,180$1,642$1,219$894$649$287
27 years$2,077$1,545$1,132$819$585$249
28 years$1,981$1,456$1,052$750$528$216
29 years$1,892$1,374$979$688$477$188
30 years$1,810$1,297$912$631$431$163
31 years$1,732$1,226$850$580$390$142
32 years$1,660$1,160$793$533$352$123
33 years$1,592$1,099$741$490$319$107
34 years$1,528$1,042$692$451$289$93
35 years$1,468$988$647$415$262$81
36 years$1,412$938$605$382$237$70
37 years$1,359$891$567$352$215$61
38 years$1,308$846$531$325$195$53
39 years$1,261$805$497$299$177$46
40 years$1,215$766$466$276$160$40
41 years$1,173$729$437$255$145$35
42 years$1,132$694$410$235$132$30
43 years$1,093$661$385$217$120$26
44 years$1,056$630$361$200$109$23
45 years$1,021$601$339$185$99$20
46 years$988$573$318$171$90$17
47 years$956$547$299$158$81$15
48 years$925$522$281$146$74$13
49 years$896$499$264$135$67$11
50 years$868$477$248$125$61$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $889,000, adding $4,773 every year, while hoping to spend $44,434 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: 24/49/27 Blend
59$889,000$889,000$889,000$889,000
60$984,601$937,484$923,705$999,756
61$1,037,753$936,144$907,372$1,011,570
62$1,094,837$933,248$889,002$1,020,139
63$1,156,208$928,674$868,481$1,028,381
64$1,222,254$922,292$845,687$1,036,299
65$1,293,402$913,963$820,496$1,043,900
66$1,370,121$903,539$792,775$1,051,194
67$1,452,927$890,866$762,386$1,058,200
68$1,542,385$875,777$729,185$1,064,943
69$1,639,117$858,100$693,022$1,071,456
70$1,743,807$837,647$653,739$1,077,779
71$1,857,207$814,223$611,171$1,083,966
72$1,980,144$787,621$565,146$1,090,081
73$2,113,524$757,621$515,485$1,096,200
74$2,258,349$723,990$461,999$1,102,416
75$2,415,718$686,482$404,493$1,108,838
76$2,586,839$644,837$342,761$1,115,597
77$2,773,043$598,781$276,590$1,122,842
78$2,975,793$548,021$205,756$1,130,750
79$3,196,702$492,252$130,026$1,139,523
80$3,437,540$431,146$49,156$1,149,394
81$3,700,259$364,363$0$1,160,634
82$3,987,006$291,537$0$1,184,250
83$4,300,145$212,287$0$1,225,701
84$4,642,278$126,207$0$1,271,289
85$5,016,269$32,870$0$1,321,553
86$5,425,272$0$0$1,377,094
87$5,872,760$0$0$1,475,344
88$6,362,556$0$0$1,602,432
89$6,898,871$0$0$1,741,745
90$7,486,341$0$0$1,894,509
91$8,130,072$0$0$2,062,071
92$8,835,688$0$0$2,245,914
93$9,609,382$0$0$2,447,676
94$10,457,974$0$0$2,669,157
95$11,388,979$0$0$2,912,341
96$12,410,671$0$0$3,179,414
97$13,532,166$0$0$3,472,783
98$14,763,506$0$0$3,795,103
99$16,115,750$0$0$4,149,293
100$17,601,084$0$0$4,538,575