Can I retire at age 60 with 884,000?

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 $884,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$73,000$72,350$71,715$71,096$70,491$67,775
2 years$36,139$35,466$34,813$34,181$33,567$30,863
3 years$23,853$23,177$22,526$21,900$21,296$18,689
4 years$17,712$17,038$16,393$15,778$15,189$12,699
5 years$14,028$13,358$12,722$12,119$11,546$9,180
6 years$11,572$10,908$10,281$9,691$9,136$6,894
7 years$9,819$9,160$8,544$7,968$7,430$5,313
8 years$8,505$7,852$7,246$6,684$6,164$4,169
9 years$7,484$6,837$6,241$5,693$5,191$3,315
10 years$6,667$6,026$5,441$4,908$4,423$2,663
11 years$5,999$5,365$4,790$4,271$3,804$2,156
12 years$5,443$4,815$4,251$3,746$3,296$1,756
13 years$4,973$4,351$3,798$3,308$2,875$1,437
14 years$4,570$3,955$3,413$2,936$2,520$1,180
15 years$4,221$3,613$3,081$2,618$2,219$973
16 years$3,916$3,315$2,793$2,345$1,961$804
17 years$3,648$3,053$2,542$2,107$1,739$665
18 years$3,409$2,821$2,320$1,898$1,546$552
19 years$3,196$2,615$2,124$1,715$1,378$458
20 years$3,004$2,430$1,950$1,554$1,231$381
21 years$2,831$2,263$1,793$1,410$1,101$317
22 years$2,674$2,113$1,653$1,282$987$264
23 years$2,531$1,976$1,526$1,168$886$220
24 years$2,400$1,851$1,411$1,065$797$184
25 years$2,279$1,737$1,307$973$717$153
26 years$2,168$1,633$1,212$889$646$128
27 years$2,065$1,537$1,126$814$582$107
28 years$1,970$1,448$1,047$746$525$89
29 years$1,882$1,366$974$684$474$74
30 years$1,799$1,290$907$628$429$62
31 years$1,723$1,219$846$576$387$52
32 years$1,651$1,154$789$530$350$43
33 years$1,583$1,093$737$487$317$36
34 years$1,520$1,036$688$448$287$30
35 years$1,460$982$644$413$260$25
36 years$1,404$932$602$380$236$21
37 years$1,351$886$563$350$214$18
38 years$1,301$842$528$323$194$15
39 years$1,253$800$494$298$176$12
40 years$1,209$761$463$274$159$10
41 years$1,166$725$435$253$144$9
42 years$1,125$690$408$234$131$7
43 years$1,087$658$382$216$119$6
44 years$1,050$627$359$199$108$5
45 years$1,015$598$337$184$98$4
46 years$982$570$317$170$89$4
47 years$950$544$297$157$81$3
48 years$920$520$280$145$73$2
49 years$891$496$263$134$67$2
50 years$863$474$247$124$61$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $884,000, adding $2,348 every year, while hoping to spend $40,634 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: 67/22/11 Blend
59$884,000$884,000$884,000$884,000
60$976,590$929,738$916,036$1,039,559
61$1,032,968$932,061$903,489$1,084,076
62$1,093,734$933,136$889,160$1,127,674
63$1,159,294$932,858$872,946$1,174,288
64$1,230,093$931,119$854,739$1,224,210
65$1,306,617$927,799$834,428$1,277,760
66$1,389,406$922,774$811,895$1,335,293
67$1,479,049$915,914$787,017$1,397,200
68$1,576,195$907,076$759,665$1,463,913
69$1,681,557$896,114$729,705$1,535,911
70$1,795,921$882,869$696,995$1,613,720
71$1,920,150$867,175$661,390$1,697,922
72$2,055,194$848,854$622,734$1,789,161
73$2,202,096$827,720$580,868$1,888,147
74$2,362,006$803,575$535,624$1,995,663
75$2,536,189$776,209$486,825$2,112,574
76$2,726,036$745,399$434,290$2,239,838
77$2,933,079$710,911$377,826$2,378,507
78$3,159,004$672,496$317,234$2,529,748
79$3,405,665$629,891$252,304$2,694,845
80$3,675,106$582,819$182,819$2,875,218
81$3,969,575$530,985$108,552$3,072,434
82$4,291,547$474,079$29,264$3,288,222
83$4,643,749$411,772$0$3,524,491
84$5,029,180$343,718$0$3,789,844
85$5,451,147$269,550$0$4,084,196
86$5,913,287$188,881$0$4,406,707
87$6,419,608$101,302$0$4,760,242
88$6,974,523$6,382$0$5,147,958
89$7,582,894$0$0$5,573,340
90$8,250,073$0$0$6,063,551
91$8,981,957$0$0$6,603,054
92$9,785,039$0$0$7,195,098
93$10,666,474$0$0$7,844,965
94$11,634,142$0$0$8,558,471
95$12,696,721$0$0$9,342,025
96$13,863,775$0$0$10,202,684
97$15,145,835$0$0$11,148,225
98$16,554,507$0$0$12,187,215
99$18,102,572$0$0$13,329,091
100$19,804,114$0$0$14,584,250