Can I retire at age 60 with 897,000?

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 $897,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$74,073$73,414$72,770$72,142$71,528$70,752
2 years$36,670$35,987$35,325$34,683$34,061$33,279
3 years$24,204$23,518$22,858$22,222$21,610$20,847
4 years$17,972$17,288$16,635$16,010$15,412$14,674
5 years$14,234$13,554$12,909$12,297$11,716$11,005
6 years$11,743$11,068$10,432$9,834$9,271$8,587
7 years$9,964$9,295$8,669$8,085$7,539$6,884
8 years$8,630$7,967$7,352$6,782$6,255$5,628
9 years$7,594$6,937$6,333$5,777$5,267$4,668
10 years$6,765$6,115$5,521$4,980$4,488$3,916
11 years$6,087$5,444$4,861$4,334$3,860$3,315
12 years$5,523$4,886$4,314$3,802$3,345$2,827
13 years$5,046$4,415$3,854$3,356$2,917$2,424
14 years$4,637$4,013$3,463$2,979$2,557$2,089
15 years$4,283$3,666$3,126$2,657$2,251$1,808
16 years$3,974$3,364$2,835$2,379$1,990$1,570
17 years$3,701$3,098$2,579$2,138$1,764$1,368
18 years$3,459$2,863$2,355$1,926$1,569$1,194
19 years$3,243$2,653$2,156$1,741$1,398$1,045
20 years$3,049$2,465$1,978$1,576$1,249$916
21 years$2,873$2,296$1,820$1,431$1,118$804
22 years$2,713$2,144$1,677$1,301$1,002$707
23 years$2,568$2,005$1,548$1,185$899$622
24 years$2,435$1,878$1,432$1,081$808$548
25 years$2,313$1,763$1,326$987$727$484
26 years$2,200$1,657$1,230$902$655$427
27 years$2,096$1,559$1,142$826$591$377
28 years$1,999$1,469$1,062$757$533$333
29 years$1,909$1,386$988$694$481$295
30 years$1,826$1,309$920$637$435$261
31 years$1,748$1,237$858$585$393$231
32 years$1,675$1,171$801$538$356$205
33 years$1,606$1,109$748$494$322$181
34 years$1,542$1,051$698$455$291$161
35 years$1,482$997$653$419$264$142
36 years$1,425$946$611$386$239$126
37 years$1,371$899$572$355$217$112
38 years$1,320$854$535$327$196$99
39 years$1,272$812$502$302$178$88
40 years$1,226$773$470$278$162$78
41 years$1,183$735$441$257$147$69
42 years$1,142$700$414$237$133$61
43 years$1,103$667$388$219$121$55
44 years$1,066$636$364$202$110$48
45 years$1,030$607$342$187$99$43
46 years$997$579$321$172$90$38
47 years$964$552$302$159$82$34
48 years$933$527$284$147$74$30
49 years$904$503$267$136$68$27
50 years$876$481$251$126$61$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $897,000, adding $6,134 every year, while hoping to spend $27,965 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: 38/33/29 Blend
59$897,000$897,000$897,000$897,000
60$994,821$947,280$933,377$1,023,849
61$1,066,538$963,942$934,890$1,062,436
62$1,144,634$980,484$935,517$1,101,113
63$1,229,728$996,869$935,199$1,142,386
64$1,322,504$1,013,060$933,872$1,186,509
65$1,423,715$1,029,015$931,472$1,233,763
66$1,534,188$1,044,691$927,931$1,284,458
67$1,654,835$1,060,041$923,176$1,338,940
68$1,786,659$1,075,014$917,134$1,397,588
69$1,930,765$1,089,556$909,724$1,460,822
70$2,088,369$1,103,610$900,865$1,529,107
71$2,260,808$1,117,113$890,470$1,602,957
72$2,449,559$1,129,999$878,449$1,682,939
73$2,656,244$1,142,199$864,707$1,769,680
74$2,882,650$1,153,637$849,145$1,863,873
75$3,130,748$1,164,232$831,658$1,966,284
76$3,402,705$1,173,900$812,139$2,077,759
77$3,700,909$1,182,549$790,474$2,199,232
78$4,027,990$1,190,082$766,543$2,331,735
79$4,386,845$1,196,397$740,223$2,476,409
80$4,780,666$1,201,383$711,383$2,634,514
81$5,212,967$1,204,923$679,887$2,807,439
82$5,687,619$1,206,895$645,593$2,996,721
83$6,208,889$1,207,165$608,353$3,204,057
84$6,781,473$1,205,594$568,011$3,431,317
85$7,410,549$1,202,034$524,405$3,680,570
86$8,101,817$1,196,326$477,365$3,954,099
87$8,861,560$1,188,303$426,713$4,254,422
88$9,696,697$1,177,787$372,266$4,584,321
89$10,614,853$1,164,592$313,830$4,946,866
90$11,624,427$1,148,516$251,202$5,345,444
91$12,734,673$1,129,348$184,172$5,783,794
92$13,955,788$1,106,864$112,521$6,266,044
93$15,299,006$1,080,828$36,017$6,796,746
94$16,776,703$1,050,987$0$7,380,925
95$18,402,517$1,017,076$0$8,038,242
96$20,191,474$978,812$0$8,773,507
97$22,160,129$935,899$0$9,582,394
98$24,326,724$888,020$0$10,472,430
99$26,711,359$834,842$0$11,451,917
100$29,336,182$776,013$0$12,530,007