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%13.7%
1 years$74,156$73,495$72,851$72,222$71,608$70,509
2 years$36,711$36,027$35,365$34,722$34,099$32,994
3 years$24,231$23,544$22,883$22,247$21,634$20,558
4 years$17,992$17,307$16,653$16,028$15,429$14,391
5 years$14,250$13,569$12,924$12,311$11,729$10,730
6 years$11,756$11,080$10,444$9,845$9,281$8,323
7 years$9,975$9,305$8,679$8,094$7,548$6,632
8 years$8,640$7,976$7,361$6,790$6,262$5,387
9 years$7,602$6,945$6,340$5,784$5,273$4,440
10 years$6,772$6,122$5,527$4,985$4,493$3,700
11 years$6,094$5,450$4,866$4,339$3,864$3,111
12 years$5,529$4,891$4,318$3,806$3,349$2,634
13 years$5,051$4,420$3,858$3,360$2,920$2,243
14 years$4,642$4,018$3,467$2,983$2,560$1,919
15 years$4,288$3,670$3,130$2,660$2,254$1,648
16 years$3,978$3,368$2,838$2,382$1,992$1,420
17 years$3,706$3,101$2,582$2,140$1,766$1,227
18 years$3,463$2,866$2,357$1,928$1,570$1,063
19 years$3,247$2,656$2,158$1,743$1,400$923
20 years$3,052$2,468$1,980$1,578$1,250$802
21 years$2,876$2,299$1,822$1,432$1,119$699
22 years$2,716$2,146$1,679$1,302$1,003$609
23 years$2,571$2,007$1,550$1,186$900$532
24 years$2,438$1,881$1,434$1,082$809$465
25 years$2,315$1,765$1,328$988$728$406
26 years$2,202$1,659$1,231$903$656$356
27 years$2,098$1,561$1,144$827$591$311
28 years$2,001$1,471$1,063$758$534$273
29 years$1,912$1,388$989$695$482$239
30 years$1,828$1,310$921$638$435$210
31 years$1,750$1,239$859$586$394$184
32 years$1,677$1,172$802$538$356$161
33 years$1,608$1,110$748$495$322$142
34 years$1,544$1,052$699$455$292$124
35 years$1,483$998$654$419$264$109
36 years$1,426$947$612$386$239$96
37 years$1,372$900$572$356$217$84
38 years$1,322$855$536$328$197$74
39 years$1,273$813$502$302$178$65
40 years$1,228$773$471$279$162$57
41 years$1,184$736$441$257$147$50
42 years$1,143$701$414$237$133$44
43 years$1,104$668$389$219$121$39
44 years$1,067$637$365$202$110$34
45 years$1,031$607$342$187$100$30
46 years$998$579$322$173$90$26
47 years$965$553$302$159$82$23
48 years$935$528$284$147$75$20
49 years$905$504$267$136$68$18
50 years$877$481$251$126$62$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $898,000, adding $2,290 every year, while hoping to spend $36,459 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: 29/41/30 Blend
59$898,000$898,000$898,000$898,000
60$991,958$944,364$930,445$1,011,515
61$1,054,346$951,846$922,823$1,034,765
62$1,121,875$958,472$913,723$1,056,448
63$1,195,032$964,163$903,059$1,079,043
64$1,274,350$968,832$890,737$1,102,657
65$1,360,418$972,389$876,661$1,127,409
66$1,453,882$974,737$860,730$1,153,431
67$1,555,452$975,773$842,838$1,180,874
68$1,665,910$975,389$822,875$1,209,907
69$1,786,117$973,466$800,725$1,240,719
70$1,917,019$969,884$776,268$1,273,523
71$2,059,657$964,511$749,375$1,308,554
72$2,215,178$957,208$719,915$1,346,081
73$2,384,844$947,829$687,750$1,386,398
74$2,570,042$936,217$652,734$1,429,839
75$2,772,302$922,207$614,716$1,476,774
76$2,993,307$905,625$573,539$1,527,616
77$3,234,908$886,284$529,036$1,582,826
78$3,499,145$863,989$481,035$1,642,920
79$3,788,264$838,530$429,356$1,708,467
80$4,104,738$809,689$373,810$1,780,107
81$4,451,289$777,232$314,201$1,858,548
82$4,830,916$740,912$250,323$1,944,579
83$5,246,922$700,469$181,961$2,039,076
84$5,702,942$655,626$108,891$2,143,014
85$6,202,983$606,093$30,879$2,257,475
86$6,751,456$551,560$0$2,383,660
87$7,353,220$491,702$0$2,539,668
88$8,013,627$426,174$0$2,721,853
89$8,738,572$354,612$0$2,922,046
90$9,534,550$276,631$0$3,142,157
91$10,408,714$191,826$0$3,384,296
92$11,368,944$99,766$0$3,650,797
93$12,423,921$0$0$3,944,239
94$13,583,210$0$0$4,267,470
95$14,857,346$0$0$4,672,345
96$16,257,936$0$0$5,117,558
97$17,797,768$0$0$5,607,196
98$19,490,930$0$0$6,145,758
99$21,352,946$0$0$6,738,201
100$23,400,917$0$0$7,389,990