Can I retire at age 60 with 898,000?

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 $898,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$74,156$73,495$72,851$72,222$71,608$69,567
2 years$36,711$36,027$35,365$34,722$34,099$32,058
3 years$24,231$23,544$22,883$22,247$21,634$19,658
4 years$17,992$17,307$16,653$16,028$15,429$13,533
5 years$14,250$13,569$12,924$12,311$11,729$9,918
6 years$11,756$11,080$10,444$9,845$9,281$7,556
7 years$9,975$9,305$8,679$8,094$7,548$5,909
8 years$8,640$7,976$7,361$6,790$6,262$4,709
9 years$7,602$6,945$6,340$5,784$5,273$3,805
10 years$6,772$6,122$5,527$4,985$4,493$3,107
11 years$6,094$5,450$4,866$4,339$3,864$2,558
12 years$5,529$4,891$4,318$3,806$3,349$2,119
13 years$5,051$4,420$3,858$3,360$2,920$1,765
14 years$4,642$4,018$3,467$2,983$2,560$1,477
15 years$4,288$3,670$3,130$2,660$2,254$1,240
16 years$3,978$3,368$2,838$2,382$1,992$1,044
17 years$3,706$3,101$2,582$2,140$1,766$881
18 years$3,463$2,866$2,357$1,928$1,570$745
19 years$3,247$2,656$2,158$1,743$1,400$631
20 years$3,052$2,468$1,980$1,578$1,250$535
21 years$2,876$2,299$1,822$1,432$1,119$454
22 years$2,716$2,146$1,679$1,302$1,003$386
23 years$2,571$2,007$1,550$1,186$900$328
24 years$2,438$1,881$1,434$1,082$809$280
25 years$2,315$1,765$1,328$988$728$238
26 years$2,202$1,659$1,231$903$656$203
27 years$2,098$1,561$1,144$827$591$173
28 years$2,001$1,471$1,063$758$534$148
29 years$1,912$1,388$989$695$482$126
30 years$1,828$1,310$921$638$435$107
31 years$1,750$1,239$859$586$394$92
32 years$1,677$1,172$802$538$356$78
33 years$1,608$1,110$748$495$322$67
34 years$1,544$1,052$699$455$292$57
35 years$1,483$998$654$419$264$49
36 years$1,426$947$612$386$239$42
37 years$1,372$900$572$356$217$36
38 years$1,322$855$536$328$197$30
39 years$1,273$813$502$302$178$26
40 years$1,228$773$471$279$162$22
41 years$1,184$736$441$257$147$19
42 years$1,143$701$414$237$133$16
43 years$1,104$668$389$219$121$14
44 years$1,067$637$365$202$110$12
45 years$1,031$607$342$187$100$10
46 years$998$579$322$173$90$9
47 years$965$553$302$159$82$7
48 years$935$528$284$147$75$6
49 years$905$504$267$136$68$5
50 years$877$481$251$126$62$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $898,000, adding $6,148 every year, while hoping to spend $44,319 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: 43/28/29 Blend
59$898,000$898,000$898,000$898,000
60$995,938$948,344$934,425$1,030,117
61$1,050,368$947,657$918,573$1,054,557
62$1,108,865$945,452$900,705$1,076,373
63$1,171,797$941,607$880,706$1,099,173
64$1,239,567$935,992$858,456$1,123,076
65$1,312,620$928,473$833,831$1,148,213
66$1,391,442$918,903$806,700$1,174,734
67$1,476,570$907,130$776,925$1,202,808
68$1,568,591$892,991$744,363$1,232,621
69$1,668,153$876,313$708,865$1,264,386
70$1,775,967$856,915$670,274$1,298,339
71$1,892,815$834,602$628,427$1,334,745
72$2,019,555$809,170$583,152$1,373,899
73$2,157,133$780,404$534,272$1,416,132
74$2,306,589$748,072$481,598$1,461,815
75$2,469,067$711,933$424,938$1,511,360
76$2,645,824$671,731$364,086$1,565,226
77$2,838,246$627,193$298,830$1,623,926
78$3,047,855$578,033$228,948$1,688,032
79$3,276,327$523,947$154,209$1,758,179
80$3,525,507$464,616$74,370$1,835,074
81$3,797,427$399,700$0$1,919,506
82$4,094,320$328,840$0$2,015,700
83$4,418,647$251,660$0$2,146,054
84$4,773,116$167,759$0$2,288,697
85$5,160,711$76,716$0$2,444,916
86$5,584,713$0$0$2,616,137
87$6,048,738$0$0$2,810,686
88$6,556,766$0$0$3,049,670
89$7,113,182$0$0$3,311,528
90$7,722,813$0$0$3,598,545
91$8,390,974$0$0$3,913,239
92$9,123,522$0$0$4,258,382
93$9,926,904$0$0$4,637,029
94$10,808,225$0$0$5,052,543
95$11,775,306$0$0$5,508,630
96$12,836,766$0$0$6,009,370
97$14,002,097$0$0$6,559,259
98$15,281,755$0$0$7,163,251
99$16,687,259$0$0$7,826,801
100$18,231,297$0$0$8,555,919