Can I retire at age 60 with 895,000?

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 $895,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$73,908$73,250$72,608$71,981$71,369$70,653
2 years$36,588$35,907$35,246$34,606$33,985$33,264
3 years$24,150$23,466$22,807$22,172$21,561$20,858
4 years$17,932$17,250$16,597$15,974$15,378$14,697
5 years$14,202$13,524$12,880$12,270$11,690$11,033
6 years$11,716$11,043$10,409$9,812$9,250$8,619
7 years$9,942$9,274$8,650$8,067$7,523$6,917
8 years$8,611$7,950$7,336$6,767$6,241$5,661
9 years$7,577$6,922$6,318$5,764$5,256$4,701
10 years$6,750$6,101$5,509$4,969$4,478$3,949
11 years$6,074$5,431$4,850$4,324$3,851$3,347
12 years$5,511$4,875$4,304$3,793$3,337$2,857
13 years$5,035$4,406$3,845$3,349$2,910$2,454
14 years$4,627$4,004$3,455$2,973$2,551$2,118
15 years$4,274$3,658$3,119$2,651$2,246$1,835
16 years$3,965$3,356$2,828$2,374$1,985$1,596
17 years$3,693$3,091$2,574$2,133$1,760$1,392
18 years$3,452$2,856$2,349$1,922$1,565$1,217
19 years$3,236$2,647$2,151$1,737$1,395$1,066
20 years$3,042$2,460$1,974$1,573$1,246$936
21 years$2,867$2,291$1,816$1,428$1,115$823
22 years$2,707$2,139$1,673$1,298$1,000$725
23 years$2,562$2,000$1,545$1,182$897$639
24 years$2,429$1,874$1,429$1,078$806$564
25 years$2,307$1,759$1,323$985$726$498
26 years$2,195$1,653$1,227$900$654$440
27 years$2,091$1,556$1,140$824$589$390
28 years$1,995$1,466$1,060$755$532$345
29 years$1,905$1,383$986$692$480$306
30 years$1,822$1,306$918$635$434$271
31 years$1,744$1,235$856$584$392$240
32 years$1,671$1,168$799$536$355$213
33 years$1,603$1,106$746$493$321$189
34 years$1,539$1,049$697$454$291$168
35 years$1,478$995$652$418$263$149
36 years$1,421$944$610$385$239$132
37 years$1,368$897$571$354$216$117
38 years$1,317$852$534$327$196$104
39 years$1,269$810$501$301$178$93
40 years$1,224$771$469$278$161$82
41 years$1,180$734$440$256$146$73
42 years$1,139$699$413$237$133$65
43 years$1,100$666$387$218$120$58
44 years$1,063$635$363$202$109$51
45 years$1,028$605$341$186$99$46
46 years$994$577$321$172$90$41
47 years$962$551$301$159$82$36
48 years$931$526$283$147$74$32
49 years$902$502$266$136$68$29
50 years$874$480$250$125$61$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $895,000, adding $6,813 every year, while hoping to spend $53,365 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: 68/18/14 Blend
59$895,000$895,000$895,000$895,000
60$993,318$945,883$932,010$1,057,224
61$1,037,856$935,451$906,453$1,090,220
62$1,085,149$922,719$878,250$1,119,323
63$1,135,421$907,519$847,258$1,149,793
64$1,188,917$889,671$813,325$1,181,759
65$1,245,907$868,986$776,292$1,215,363
66$1,306,686$845,262$735,993$1,250,766
67$1,371,575$818,287$692,256$1,288,142
68$1,440,928$787,836$644,900$1,327,690
69$1,515,133$753,670$593,734$1,369,626
70$1,594,615$715,539$538,563$1,414,194
71$1,679,840$673,174$479,179$1,461,662
72$1,771,319$626,294$415,366$1,512,330
73$1,869,612$574,602$346,900$1,566,529
74$1,975,337$517,782$273,546$1,624,627
75$2,089,169$455,501$195,057$1,687,034
76$2,211,851$387,407$111,178$1,754,201
77$2,344,198$313,128$21,641$1,826,633
78$2,487,107$232,272$0$1,904,885
79$2,641,562$144,424$0$2,000,617
80$2,808,646$49,145$0$2,107,639
81$2,989,549$0$0$2,223,520
82$3,185,577$0$0$2,359,848
83$3,398,170$0$0$2,518,297
84$3,628,909$0$0$2,690,317
85$3,879,534$0$0$2,877,210
86$4,151,957$0$0$3,080,409
87$4,448,283$0$0$3,301,491
88$4,770,829$0$0$3,542,190
89$5,122,143$0$0$3,804,415
90$5,505,028$0$0$4,090,265
91$5,922,571$0$0$4,402,053
92$6,378,168$0$0$4,742,323
93$6,875,558$0$0$5,113,874
94$7,418,857$0$0$5,519,791
95$8,012,595$0$0$5,963,467
96$8,661,760$0$0$6,448,639
97$9,371,844$0$0$6,979,420
98$10,148,895$0$0$7,560,342
99$10,999,569$0$0$8,196,391
100$11,931,201$0$0$8,893,062