Can I retire at age 60 with 824,000?

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 $824,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$68,045$67,439$66,848$66,271$65,707$63,860
2 years$33,686$33,058$32,450$31,861$31,289$29,442
3 years$22,234$21,604$20,998$20,414$19,851$18,062
4 years$16,509$15,881$15,281$14,707$14,158$12,441
5 years$13,075$12,451$11,859$11,296$10,763$9,122
6 years$10,787$10,167$9,583$9,034$8,516$6,954
7 years$9,153$8,538$7,964$7,427$6,926$5,441
8 years$7,928$7,319$6,754$6,230$5,746$4,339
9 years$6,976$6,373$5,817$5,307$4,839$3,508
10 years$6,214$5,617$5,072$4,575$4,123$2,866
11 years$5,592$5,001$4,465$3,981$3,546$2,361
12 years$5,073$4,488$3,963$3,492$3,073$1,958
13 years$4,635$4,056$3,540$3,083$2,679$1,632
14 years$4,260$3,687$3,181$2,737$2,349$1,366
15 years$3,935$3,368$2,872$2,441$2,068$1,148
16 years$3,651$3,090$2,604$2,185$1,828$967
17 years$3,400$2,846$2,369$1,964$1,621$816
18 years$3,178$2,630$2,163$1,770$1,441$691
19 years$2,979$2,437$1,980$1,599$1,284$586
20 years$2,801$2,265$1,817$1,448$1,147$497
21 years$2,639$2,110$1,671$1,314$1,027$422
22 years$2,493$1,969$1,541$1,195$920$359
23 years$2,359$1,842$1,422$1,088$826$306
24 years$2,237$1,726$1,315$993$742$261
25 years$2,124$1,619$1,218$906$668$222
26 years$2,021$1,522$1,130$829$602$189
27 years$1,925$1,432$1,049$759$543$162
28 years$1,837$1,350$975$695$490$138
29 years$1,754$1,273$908$637$442$118
30 years$1,677$1,202$846$585$399$101
31 years$1,606$1,137$788$537$361$86
32 years$1,539$1,076$735$494$327$73
33 years$1,476$1,019$687$454$296$63
34 years$1,417$965$642$418$268$54
35 years$1,361$916$600$385$242$46
36 years$1,309$869$561$354$220$39
37 years$1,259$825$525$326$199$34
38 years$1,213$784$492$301$180$29
39 years$1,168$746$461$277$164$25
40 years$1,127$710$432$256$148$21
41 years$1,087$676$405$236$135$18
42 years$1,049$643$380$218$122$15
43 years$1,013$613$357$201$111$13
44 years$979$584$335$186$101$11
45 years$946$557$314$171$91$10
46 years$915$532$295$158$83$8
47 years$886$507$277$146$75$7
48 years$857$484$261$135$68$6
49 years$830$462$245$125$62$5
50 years$805$442$230$116$56$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $824,000, adding $4,438 every year, while hoping to spend $53,203 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: 65/19/16 Blend
59$824,000$824,000$824,000$824,000
60$912,626$868,954$856,182$968,113
61$949,106$854,925$828,256$991,784
62$987,524$838,426$797,612$1,011,091
63$1,028,022$819,278$764,102$1,030,891
64$1,070,753$797,296$727,572$1,051,231
65$1,115,885$772,279$687,862$1,072,165
66$1,163,602$744,018$644,802$1,093,755
67$1,214,105$712,289$598,218$1,116,072
68$1,267,610$676,859$547,925$1,139,194
69$1,324,358$637,476$493,732$1,163,211
70$1,384,609$593,879$435,438$1,188,225
71$1,448,648$545,788$372,834$1,214,349
72$1,516,787$492,909$305,702$1,241,714
73$1,589,369$434,931$233,812$1,270,464
74$1,666,767$371,524$156,927$1,300,763
75$1,749,391$302,343$74,798$1,332,793
76$1,837,689$227,018$0$1,366,760
77$1,932,155$145,164$0$1,405,089
78$2,033,328$56,370$0$1,459,614
79$2,141,799$0$0$1,517,890
80$2,258,218$0$0$1,588,611
81$2,383,297$0$0$1,677,294
82$2,517,819$0$0$1,772,711
83$2,662,641$0$0$1,875,477
84$2,818,708$0$0$1,986,267
85$2,987,055$0$0$2,105,821
86$3,168,819$0$0$2,234,954
87$3,365,252$0$0$2,374,560
88$3,577,727$0$0$2,525,623
89$3,807,754$0$0$2,689,223
90$4,056,996$0$0$2,866,549
91$4,327,276$0$0$3,058,908
92$4,620,604$0$0$3,267,736
93$4,939,188$0$0$3,494,614
94$5,285,457$0$0$3,741,282
95$5,662,083$0$0$4,009,651
96$6,072,006$0$0$4,301,827
97$6,518,462$0$0$4,620,125
98$7,005,010$0$0$4,967,095
99$7,535,568$0$0$5,345,540
100$8,114,450$0$0$5,758,549