Can I retire at age 60 with 842,000?

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 $842,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$69,532$68,912$68,308$67,718$67,142$66,831
2 years$34,422$33,781$33,159$32,557$31,973$31,659
3 years$22,720$22,076$21,456$20,859$20,285$19,978
4 years$16,870$16,228$15,615$15,028$14,467$14,169
5 years$13,361$12,723$12,118$11,543$10,998$10,710
6 years$11,023$10,389$9,793$9,231$8,702$8,425
7 years$9,353$8,725$8,138$7,589$7,077$6,810
8 years$8,101$7,479$6,902$6,367$5,871$5,615
9 years$7,128$6,512$5,944$5,423$4,944$4,699
10 years$6,350$5,740$5,182$4,675$4,213$3,977
11 years$5,714$5,110$4,562$4,068$3,623$3,398
12 years$5,184$4,586$4,049$3,568$3,140$2,925
13 years$4,736$4,145$3,618$3,150$2,738$2,533
14 years$4,353$3,767$3,250$2,797$2,400$2,204
15 years$4,021$3,442$2,935$2,494$2,113$1,927
16 years$3,730$3,158$2,661$2,233$1,868$1,691
17 years$3,474$2,908$2,421$2,006$1,656$1,488
18 years$3,247$2,687$2,210$1,808$1,472$1,313
19 years$3,044$2,490$2,023$1,634$1,312$1,161
20 years$2,862$2,314$1,857$1,480$1,172$1,029
21 years$2,697$2,156$1,708$1,343$1,049$914
22 years$2,547$2,012$1,574$1,221$940$812
23 years$2,411$1,882$1,453$1,112$844$723
24 years$2,286$1,763$1,344$1,014$759$645
25 years$2,171$1,655$1,245$926$683$575
26 years$2,065$1,555$1,155$847$615$514
27 years$1,967$1,464$1,072$775$554$459
28 years$1,877$1,379$997$710$500$411
29 years$1,792$1,301$928$651$452$368
30 years$1,714$1,229$864$598$408$329
31 years$1,641$1,162$806$549$369$295
32 years$1,572$1,099$752$505$334$265
33 years$1,508$1,041$702$464$302$237
34 years$1,448$986$656$427$274$213
35 years$1,391$936$613$393$248$191
36 years$1,337$888$573$362$224$172
37 years$1,287$843$537$333$203$154
38 years$1,239$802$503$307$184$138
39 years$1,194$762$471$283$167$124
40 years$1,151$725$441$261$152$112
41 years$1,111$690$414$241$138$100
42 years$1,072$657$388$223$125$90
43 years$1,035$626$364$205$113$81
44 years$1,000$597$342$190$103$73
45 years$967$569$321$175$93$66
46 years$935$543$302$162$85$59
47 years$905$518$283$150$77$53
48 years$876$495$266$138$70$48
49 years$849$473$250$128$64$43
50 years$822$451$235$118$58$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $842,000, adding $6,062 every year, while hoping to spend $32,781 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: 58/22/20 Blend
59$842,000$842,000$842,000$842,000
60$934,137$889,511$876,460$983,029
61$994,540$898,218$870,943$1,025,658
62$1,060,006$906,254$864,142$1,068,034
63$1,131,016$913,549$855,980$1,113,504
64$1,208,100$920,033$846,375$1,162,374
65$1,291,840$925,630$835,244$1,214,981
66$1,382,879$930,256$822,495$1,271,697
67$1,481,920$933,827$808,036$1,332,934
68$1,589,740$936,248$791,770$1,399,146
69$1,707,193$937,424$773,593$1,470,836
70$1,835,218$937,249$753,400$1,548,558
71$1,974,849$935,613$731,078$1,632,924
72$2,127,224$932,398$706,509$1,724,611
73$2,293,596$927,481$679,573$1,824,365
74$2,475,344$920,729$650,140$1,933,011
75$2,673,987$912,002$618,076$2,051,460
76$2,891,194$901,150$583,243$2,180,716
77$3,128,807$888,018$545,493$2,321,889
78$3,388,852$872,438$504,673$2,476,205
79$3,673,561$854,233$460,625$2,645,016
80$3,985,389$833,215$413,181$2,829,814
81$4,327,043$809,188$362,168$3,032,248
82$4,701,504$781,940$307,402$3,254,136
83$5,112,052$751,249$248,695$3,497,486
84$5,562,302$716,881$185,847$3,764,512
85$6,056,235$678,587$118,651$4,057,660
86$6,598,237$636,104$46,892$4,379,626
87$7,193,137$589,153$0$4,733,387
88$7,846,257$537,441$0$5,128,564
89$8,563,456$480,657$0$5,573,534
90$9,351,192$418,472$0$6,062,332
91$10,216,576$350,539$0$6,599,422
92$11,167,443$276,492$0$7,189,727
93$12,212,425$195,943$0$7,838,675
94$13,361,031$108,483$0$8,552,249
95$14,623,738$13,681$0$9,337,044
96$16,012,087$0$0$10,200,333
97$17,538,794$0$0$11,171,657
98$19,217,871$0$0$12,243,645
99$21,064,751$0$0$13,422,848
100$23,096,443$0$0$14,720,136