Can I retire at age 60 with 408,000?

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 $408,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$33,692$33,392$33,099$32,814$32,534$32,343
2 years$16,679$16,369$16,068$15,776$15,493$15,299
3 years$11,009$10,697$10,397$10,108$9,829$9,640
4 years$8,175$7,864$7,566$7,282$7,010$6,827
5 years$6,474$6,165$5,872$5,593$5,329$5,152
6 years$5,341$5,034$4,745$4,473$4,217$4,046
7 years$4,532$4,228$3,943$3,677$3,429$3,266
8 years$3,925$3,624$3,344$3,085$2,845$2,688
9 years$3,454$3,155$2,880$2,628$2,396$2,245
10 years$3,077$2,781$2,511$2,265$2,041$1,897
11 years$2,769$2,476$2,211$1,971$1,756$1,618
12 years$2,512$2,222$1,962$1,729$1,521$1,390
13 years$2,295$2,008$1,753$1,527$1,327$1,201
14 years$2,109$1,826$1,575$1,355$1,163$1,044
15 years$1,948$1,668$1,422$1,209$1,024$910
16 years$1,808$1,530$1,289$1,082$905$797
17 years$1,684$1,409$1,173$972$802$700
18 years$1,573$1,302$1,071$876$713$616
19 years$1,475$1,207$980$792$636$544
20 years$1,387$1,121$900$717$568$481
21 years$1,307$1,045$828$651$508$426
22 years$1,234$975$763$592$456$378
23 years$1,168$912$704$539$409$336
24 years$1,108$854$651$491$368$299
25 years$1,052$802$603$449$331$266
26 years$1,001$754$560$410$298$237
27 years$953$709$520$376$269$211
28 years$909$668$483$344$242$189
29 years$869$630$449$316$219$168
30 years$831$595$419$290$198$150
31 years$795$563$390$266$179$135
32 years$762$533$364$244$162$120
33 years$731$504$340$225$146$108
34 years$701$478$318$207$133$96
35 years$674$453$297$190$120$86
36 years$648$430$278$175$109$77
37 years$624$409$260$162$99$69
38 years$600$388$244$149$89$62
39 years$579$369$228$137$81$56
40 years$558$351$214$127$74$50
41 years$538$335$201$117$67$45
42 years$519$319$188$108$61$40
43 years$502$304$177$100$55$36
44 years$485$289$166$92$50$32
45 years$469$276$156$85$45$29
46 years$453$263$146$78$41$26
47 years$439$251$137$72$37$23
48 years$425$240$129$67$34$21
49 years$411$229$121$62$31$19
50 years$398$219$114$57$28$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $408,000, adding $5,919 every year, while hoping to spend $22,251 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: 31/50/19 Blend
59$408,000$408,000$408,000$408,000
60$455,721$434,097$427,773$466,986
61$478,530$431,693$418,429$473,543
62$502,920$428,426$408,026$478,165
63$529,027$424,229$396,505$482,668
64$557,005$419,032$383,804$487,056
65$587,018$412,763$369,860$491,333
66$619,247$405,342$354,604$495,509
67$653,893$396,687$337,966$499,592
68$691,175$386,710$319,873$503,598
69$731,333$375,317$300,247$507,546
70$774,632$362,410$279,007$511,456
71$821,361$347,884$256,071$515,359
72$871,839$331,630$231,349$519,287
73$926,417$313,531$204,749$523,281
74$985,481$293,462$176,177$527,390
75$1,049,452$271,294$145,532$531,669
76$1,118,797$246,889$112,708$536,184
77$1,194,029$220,100$77,598$541,014
78$1,275,708$190,774$40,086$546,246
79$1,364,456$158,747$54$551,984
80$1,460,953$123,848$0$558,346
81$1,565,947$85,894$0$574,117
82$1,680,265$44,694$0$591,375
83$1,804,813$45$0$610,313
84$1,940,589$0$0$631,159
85$2,088,692$0$0$680,727
86$2,250,332$0$0$734,913
87$2,426,840$0$0$794,146
88$2,619,682$0$0$858,925
89$2,830,470$0$0$929,800
90$3,060,982$0$0$1,007,377
91$3,313,172$0$0$1,092,324
92$3,589,195$0$0$1,185,374
93$3,891,422$0$0$1,287,336
94$4,222,464$0$0$1,399,102
95$4,585,197$0$0$1,521,653
96$4,982,789$0$0$1,656,069
97$5,418,726$0$0$1,803,540
98$5,896,852$0$0$1,965,377
99$6,421,396$0$0$2,143,026
100$6,997,021$0$0$2,338,075