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%14.8%
1 years$73,908$73,250$72,608$71,981$71,369$69,956
2 years$36,588$35,907$35,246$34,606$33,985$32,568
3 years$24,150$23,466$22,807$22,172$21,561$20,184
4 years$17,932$17,250$16,597$15,974$15,378$14,051
5 years$14,202$13,524$12,880$12,270$11,690$10,417
6 years$11,716$11,043$10,409$9,812$9,250$8,032
7 years$9,942$9,274$8,650$8,067$7,523$6,360
8 years$8,611$7,950$7,336$6,767$6,241$5,134
9 years$7,577$6,922$6,318$5,764$5,256$4,203
10 years$6,750$6,101$5,509$4,969$4,478$3,479
11 years$6,074$5,431$4,850$4,324$3,851$2,905
12 years$5,511$4,875$4,304$3,793$3,337$2,442
13 years$5,035$4,406$3,845$3,349$2,910$2,064
14 years$4,627$4,004$3,455$2,973$2,551$1,753
15 years$4,274$3,658$3,119$2,651$2,246$1,495
16 years$3,965$3,356$2,828$2,374$1,985$1,278
17 years$3,693$3,091$2,574$2,133$1,760$1,096
18 years$3,452$2,856$2,349$1,922$1,565$942
19 years$3,236$2,647$2,151$1,737$1,395$811
20 years$3,042$2,460$1,974$1,573$1,246$699
21 years$2,867$2,291$1,816$1,428$1,115$604
22 years$2,707$2,139$1,673$1,298$1,000$522
23 years$2,562$2,000$1,545$1,182$897$452
24 years$2,429$1,874$1,429$1,078$806$391
25 years$2,307$1,759$1,323$985$726$339
26 years$2,195$1,653$1,227$900$654$294
27 years$2,091$1,556$1,140$824$589$255
28 years$1,995$1,466$1,060$755$532$222
29 years$1,905$1,383$986$692$480$193
30 years$1,822$1,306$918$635$434$167
31 years$1,744$1,235$856$584$392$146
32 years$1,671$1,168$799$536$355$127
33 years$1,603$1,106$746$493$321$110
34 years$1,539$1,049$697$454$291$96
35 years$1,478$995$652$418$263$83
36 years$1,421$944$610$385$239$72
37 years$1,368$897$571$354$216$63
38 years$1,317$852$534$327$196$55
39 years$1,269$810$501$301$178$48
40 years$1,224$771$469$278$161$42
41 years$1,180$734$440$256$146$36
42 years$1,139$699$413$237$133$32
43 years$1,100$666$387$218$120$27
44 years$1,063$635$363$202$109$24
45 years$1,028$605$341$186$99$21
46 years$994$577$321$172$90$18
47 years$962$551$301$159$82$16
48 years$931$526$283$147$74$14
49 years$902$502$266$136$68$12
50 years$874$480$250$125$61$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $895,000, adding $6,392 every year, while hoping to spend $58,404 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: 66/27/7 Blend
59$895,000$895,000$895,000$895,000
60$992,883$945,448$931,576$1,056,772
61$1,032,016$929,634$900,642$1,084,214
62$1,073,183$911,087$866,715$1,106,611
63$1,116,530$889,612$829,632$1,129,540
64$1,162,215$865,003$789,224$1,153,047
65$1,210,412$837,039$745,314$1,177,182
66$1,261,309$805,489$697,717$1,202,005
67$1,315,111$770,107$646,240$1,227,581
68$1,372,044$730,634$590,680$1,253,985
69$1,432,352$686,794$530,827$1,281,303
70$1,496,303$638,297$466,460$1,309,632
71$1,564,188$584,837$397,350$1,339,079
72$1,636,329$526,088$323,255$1,369,770
73$1,713,075$461,706$243,924$1,401,844
74$1,794,809$391,330$159,096$1,435,456
75$1,881,951$314,577$68,497$1,470,785
76$1,974,959$231,040$0$1,508,030
77$2,074,337$140,293$0$1,549,519
78$2,180,636$41,885$0$1,598,994
79$2,294,462$0$0$1,651,639
80$2,416,477$0$0$1,727,006
81$2,547,409$0$0$1,821,273
82$2,688,056$0$0$1,922,576
83$2,839,294$0$0$2,031,551
84$3,002,086$0$0$2,148,897
85$3,177,489$0$0$2,275,382
86$3,366,662$0$0$2,411,847
87$3,570,880$0$0$2,559,220
88$3,791,544$0$0$2,718,518
89$4,030,193$0$0$2,890,860
90$4,288,521$0$0$3,077,474
91$4,568,385$0$0$3,279,713
92$4,871,833$0$0$3,499,063
93$5,201,113$0$0$3,737,159
94$5,558,698$0$0$3,995,798
95$5,947,310$0$0$4,276,958
96$6,369,941$0$0$4,582,814
97$6,829,885$0$0$4,915,760
98$7,330,765$0$0$5,278,430
99$7,876,568$0$0$5,673,722
100$8,471,682$0$0$6,104,825