Can I retire at age 60 with 840,000?

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 $840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$69,366$68,749$68,146$67,557$66,983$66,256
2 years$34,340$33,700$33,080$32,479$31,897$31,164
3 years$22,666$22,023$21,405$20,810$20,236$19,522
4 years$16,830$16,190$15,578$14,992$14,433$13,742
5 years$13,329$12,693$12,089$11,516$10,972$10,306
6 years$10,996$10,365$9,770$9,209$8,681$8,042
7 years$9,331$8,704$8,119$7,571$7,060$6,447
8 years$8,082$7,461$6,885$6,351$5,857$5,270
9 years$7,111$6,496$5,930$5,410$4,933$4,372
10 years$6,335$5,726$5,170$4,663$4,203$3,667
11 years$5,700$5,098$4,552$4,059$3,615$3,104
12 years$5,172$4,575$4,039$3,560$3,132$2,647
13 years$4,725$4,135$3,609$3,143$2,731$2,270
14 years$4,342$3,758$3,243$2,790$2,394$1,957
15 years$4,011$3,433$2,928$2,488$2,108$1,693
16 years$3,722$3,150$2,654$2,228$1,863$1,470
17 years$3,466$2,901$2,415$2,002$1,652$1,281
18 years$3,240$2,681$2,205$1,804$1,469$1,118
19 years$3,037$2,484$2,019$1,630$1,309$978
20 years$2,855$2,309$1,853$1,476$1,169$858
21 years$2,690$2,150$1,704$1,340$1,047$753
22 years$2,541$2,007$1,570$1,218$938$662
23 years$2,405$1,877$1,450$1,109$842$583
24 years$2,280$1,759$1,341$1,012$757$514
25 years$2,166$1,651$1,242$924$681$453
26 years$2,060$1,551$1,152$845$613$400
27 years$1,963$1,460$1,070$773$553$353
28 years$1,872$1,376$994$709$499$312
29 years$1,788$1,298$925$650$451$276
30 years$1,710$1,226$862$596$407$244
31 years$1,637$1,159$804$548$368$216
32 years$1,568$1,096$750$503$333$192
33 years$1,504$1,038$700$463$301$170
34 years$1,444$984$654$426$273$150
35 years$1,387$933$612$392$247$133
36 years$1,334$886$572$361$224$118
37 years$1,284$841$535$333$203$105
38 years$1,236$800$501$307$184$93
39 years$1,191$760$470$283$167$82
40 years$1,148$723$440$261$151$73
41 years$1,108$689$413$241$137$65
42 years$1,069$656$387$222$125$58
43 years$1,033$625$363$205$113$51
44 years$998$596$341$189$103$45
45 years$965$568$320$175$93$40
46 years$933$542$301$161$85$36
47 years$903$517$283$149$77$32
48 years$874$494$266$138$70$28
49 years$847$471$250$127$63$25
50 years$820$450$235$118$58$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $840,000, adding $4,821 every year, while hoping to spend $20,452 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: 50/33/17 Blend
59$840,000$840,000$840,000$840,000
60$930,653$886,133$873,113$972,582
61$1,003,819$907,793$880,601$1,023,658
62$1,083,762$929,828$887,655$1,076,624
63$1,171,152$952,236$894,238$1,133,741
64$1,266,727$975,013$900,313$1,195,408
65$1,371,299$998,154$905,838$1,262,063
66$1,485,760$1,021,653$910,773$1,334,189
67$1,611,096$1,045,502$915,073$1,412,319
68$1,748,391$1,069,695$918,690$1,497,039
69$1,898,838$1,094,221$921,578$1,588,995
70$2,063,753$1,119,071$923,684$1,688,899
71$2,244,582$1,144,232$924,954$1,797,535
72$2,442,921$1,169,692$925,332$1,915,768
73$2,660,527$1,195,434$924,758$2,044,550
74$2,899,334$1,221,444$923,171$2,184,930
75$3,161,474$1,247,702$920,504$2,338,065
76$3,449,293$1,274,189$916,690$2,505,229
77$3,765,379$1,300,882$911,657$2,687,828
78$4,112,579$1,327,757$905,330$2,887,409
79$4,494,033$1,354,787$897,629$3,105,679
80$4,913,197$1,381,944$888,472$3,344,517
81$5,373,880$1,409,197$877,773$3,605,998
82$5,880,278$1,436,510$865,440$3,892,404
83$6,437,014$1,463,846$851,380$4,206,254
84$7,049,181$1,491,166$835,493$4,550,323
85$7,722,390$1,518,426$817,674$4,927,669
86$8,462,823$1,545,578$797,816$5,341,664
87$9,277,292$1,572,573$775,804$5,796,022
88$10,173,302$1,599,355$751,520$6,294,840
89$11,159,121$1,625,866$724,838$6,842,631
90$12,243,861$1,652,042$695,629$7,444,371
91$13,437,558$1,677,816$663,756$8,105,543
92$14,751,275$1,703,115$629,078$8,832,193
93$16,197,198$1,727,860$591,445$9,630,981
94$17,788,756$1,751,969$550,702$10,509,252
95$19,540,745$1,775,352$506,687$11,475,098
96$21,469,470$1,797,913$459,230$12,537,441
97$23,592,895$1,819,549$408,153$13,706,112
98$25,930,816$1,840,153$353,271$14,991,948
99$28,505,045$1,859,606$294,392$16,406,896
100$31,339,618$1,877,786$231,313$17,964,118