Can I retire at age 60 with 788,000?

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 $788,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$65,072$64,493$63,927$63,375$62,836$62,180
2 years$32,214$31,614$31,033$30,469$29,922$29,261
3 years$21,263$20,660$20,080$19,522$18,984$18,339
4 years$15,788$15,187$14,613$14,064$13,539$12,915
5 years$12,504$11,907$11,340$10,803$10,292$9,691
6 years$10,316$9,723$9,165$8,639$8,144$7,566
7 years$8,753$8,165$7,616$7,103$6,623$6,069
8 years$7,582$6,999$6,459$5,958$5,495$4,964
9 years$6,671$6,094$5,563$5,075$4,627$4,120
10 years$5,943$5,372$4,850$4,375$3,943$3,459
11 years$5,348$4,782$4,270$3,807$3,391$2,929
12 years$4,852$4,292$3,789$3,340$2,938$2,499
13 years$4,433$3,879$3,386$2,948$2,562$2,145
14 years$4,074$3,526$3,042$2,617$2,246$1,850
15 years$3,763$3,221$2,746$2,334$1,978$1,602
16 years$3,491$2,955$2,490$2,090$1,748$1,392
17 years$3,252$2,721$2,266$1,878$1,550$1,213
18 years$3,039$2,515$2,068$1,692$1,378$1,060
19 years$2,849$2,331$1,894$1,529$1,228$928
20 years$2,678$2,166$1,738$1,385$1,097$814
21 years$2,524$2,017$1,598$1,257$982$715
22 years$2,384$1,883$1,473$1,143$880$630
23 years$2,256$1,761$1,360$1,041$790$555
24 years$2,139$1,650$1,258$949$710$489
25 years$2,032$1,549$1,165$867$639$432
26 years$1,933$1,455$1,081$793$576$381
27 years$1,841$1,370$1,003$726$519$337
28 years$1,756$1,291$933$665$468$298
29 years$1,677$1,218$868$610$423$264
30 years$1,604$1,150$809$559$382$234
31 years$1,535$1,087$754$514$345$207
32 years$1,471$1,029$703$472$312$184
33 years$1,411$974$657$434$283$163
34 years$1,355$923$614$400$256$144
35 years$1,302$876$574$368$232$128
36 years$1,252$831$537$339$210$114
37 years$1,204$789$502$312$190$101
38 years$1,160$750$470$288$173$89
39 years$1,117$713$441$265$157$79
40 years$1,077$679$413$245$142$71
41 years$1,039$646$387$226$129$63
42 years$1,003$615$363$208$117$56
43 years$969$586$341$192$106$49
44 years$936$559$320$178$96$44
45 years$905$533$300$164$87$39
46 years$875$508$282$151$79$35
47 years$847$485$265$140$72$31
48 years$820$463$249$129$65$27
49 years$794$442$234$119$59$24
50 years$769$422$220$110$54$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $788,000, adding $2,336 every year, while hoping to spend $43,720 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: 65/26/9 Blend
59$788,000$788,000$788,000$788,000
60$870,786$829,022$816,808$925,629
61$913,088$823,126$797,653$956,555
62$958,240$815,476$776,391$984,953
63$1,006,486$805,940$752,906$1,014,851
64$1,058,094$794,377$727,075$1,046,389
65$1,113,358$780,640$698,770$1,079,727
66$1,172,599$764,571$667,858$1,115,040
67$1,236,173$746,003$634,199$1,152,523
68$1,304,466$724,760$597,648$1,192,393
69$1,377,904$700,656$558,052$1,234,889
70$1,456,955$673,493$515,252$1,280,277
71$1,542,132$643,062$469,080$1,328,854
72$1,633,999$609,142$419,364$1,380,947
73$1,733,175$571,498$365,921$1,436,918
74$1,840,342$529,884$308,562$1,497,171
75$1,956,246$484,038$247,088$1,562,151
76$2,081,710$433,683$181,293$1,632,353
77$2,217,639$378,528$110,961$1,708,325
78$2,365,026$318,263$35,865$1,790,674
79$2,524,963$252,563$0$1,880,072
80$2,698,653$181,082$0$1,981,515
81$2,887,419$103,458$0$2,095,527
82$3,092,713$19,305$0$2,219,598
83$3,316,137$0$0$2,354,763
84$3,559,452$0$0$2,522,703
85$3,824,594$0$0$2,711,776
86$4,113,696$0$0$2,917,985
87$4,429,105$0$0$3,143,009
88$4,773,403$0$0$3,388,699
89$5,149,435$0$0$3,657,091
90$5,560,330$0$0$3,950,424
91$6,009,534$0$0$4,271,167
92$6,500,842$0$0$4,622,037
93$7,038,430$0$0$5,006,024
94$7,626,900$0$0$5,426,423
95$8,271,316$0$0$5,886,862
96$8,977,256$0$0$6,391,333
97$9,750,863$0$0$6,944,237
98$10,598,903$0$0$7,550,419
99$11,528,827$0$0$8,215,213
100$12,548,841$0$0$8,944,499