Can I retire at age 60 with 880,000?

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 $880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$72,670$72,022$71,391$70,774$70,172$69,497
2 years$35,975$35,305$34,656$34,026$33,415$32,735
3 years$23,745$23,072$22,425$21,801$21,200$20,536
4 years$17,631$16,961$16,319$15,706$15,120$14,478
5 years$13,964$13,297$12,664$12,064$11,494$10,875
6 years$11,520$10,858$10,235$9,648$9,095$8,499
7 years$9,775$9,119$8,505$7,932$7,397$6,825
8 years$8,467$7,816$7,213$6,654$6,136$5,589
9 years$7,450$6,806$6,213$5,668$5,168$4,644
10 years$6,637$5,999$5,416$4,886$4,403$3,903
11 years$5,972$5,340$4,768$4,252$3,787$3,310
12 years$5,418$4,793$4,232$3,729$3,281$2,828
13 years$4,950$4,332$3,781$3,293$2,862$2,430
14 years$4,549$3,937$3,397$2,923$2,508$2,098
15 years$4,202$3,597$3,067$2,607$2,209$1,820
16 years$3,899$3,300$2,781$2,334$1,952$1,583
17 years$3,631$3,039$2,530$2,097$1,731$1,382
18 years$3,394$2,808$2,310$1,890$1,539$1,209
19 years$3,182$2,603$2,115$1,708$1,372$1,060
20 years$2,991$2,419$1,941$1,547$1,225$932
21 years$2,818$2,253$1,785$1,404$1,096$820
22 years$2,662$2,103$1,645$1,276$983$722
23 years$2,519$1,967$1,519$1,162$882$637
24 years$2,389$1,843$1,405$1,060$793$563
25 years$2,269$1,729$1,301$968$714$498
26 years$2,158$1,625$1,207$885$643$440
27 years$2,056$1,530$1,121$810$579$390
28 years$1,961$1,441$1,042$742$523$346
29 years$1,873$1,360$969$681$472$306
30 years$1,791$1,284$903$625$427$272
31 years$1,715$1,214$842$574$386$241
32 years$1,643$1,149$785$527$349$214
33 years$1,576$1,088$733$485$316$190
34 years$1,513$1,031$685$446$286$169
35 years$1,454$978$641$411$259$150
36 years$1,398$928$599$378$235$133
37 years$1,345$882$561$349$213$119
38 years$1,295$838$525$321$193$105
39 years$1,248$797$492$296$175$94
40 years$1,203$758$461$273$159$83
41 years$1,161$721$433$252$144$74
42 years$1,120$687$406$233$131$66
43 years$1,082$655$381$215$118$59
44 years$1,046$624$357$198$108$52
45 years$1,011$595$336$183$98$46
46 years$978$568$315$169$89$41
47 years$946$542$296$156$80$37
48 years$916$517$278$144$73$33
49 years$887$494$262$133$66$29
50 years$859$472$246$123$60$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $880,000, adding $4,544 every year, while hoping to spend $53,227 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: 75/8/17 Blend
59$880,000$880,000$880,000$880,000
60$974,447$927,807$914,167$1,043,453
61$1,017,208$916,637$888,159$1,078,568
62$1,062,546$903,135$859,495$1,110,025
63$1,110,668$887,131$828,031$1,143,085
64$1,161,801$868,445$793,614$1,177,895
65$1,216,192$846,886$756,087$1,214,615
66$1,274,110$822,251$715,284$1,253,422
67$1,335,854$794,325$671,030$1,294,514
68$1,401,746$762,882$623,144$1,338,107
69$1,472,143$727,682$571,438$1,384,442
70$1,547,434$688,471$515,714$1,433,786
71$1,628,046$644,980$455,765$1,486,433
72$1,714,449$596,926$391,374$1,542,708
73$1,807,155$544,007$322,318$1,602,972
74$1,906,728$485,908$248,359$1,667,623
75$2,013,789$422,291$169,254$1,737,101
76$2,129,016$352,804$84,744$1,811,894
77$2,253,155$277,071$0$1,892,539
78$2,387,026$194,697$0$1,980,621
79$2,531,530$105,264$0$2,092,277
80$2,687,655$8,331$0$2,212,901
81$2,856,490$0$0$2,343,351
82$3,039,228$0$0$2,493,076
83$3,237,184$0$0$2,656,093
84$3,451,802$0$0$2,832,862
85$3,684,670$0$0$3,024,696
86$3,937,536$0$0$3,233,038
87$4,212,321$0$0$3,459,476
88$4,511,138$0$0$3,705,754
89$4,836,312$0$0$3,973,796
90$5,190,404$0$0$4,265,715
91$5,576,227$0$0$4,583,838
92$5,996,881$0$0$4,930,724
93$6,455,777$0$0$5,309,191
94$6,956,666$0$0$5,722,341
95$7,503,682$0$0$6,173,588
96$8,101,373$0$0$6,666,691
97$8,754,746$0$0$7,205,788
98$9,469,315$0$0$7,795,434
99$10,251,150$0$0$8,440,645
100$11,106,934$0$0$9,146,945