Can I retire at age 60 with 885,000?

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 $885,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$73,082$72,431$71,796$71,176$70,571$68,781
2 years$36,179$35,506$34,853$34,219$33,605$31,814
3 years$23,880$23,203$22,552$21,925$21,321$19,583
4 years$17,732$17,057$16,412$15,796$15,206$13,536
5 years$14,043$13,373$12,736$12,132$11,559$9,962
6 years$11,585$10,920$10,293$9,702$9,147$7,623
7 years$9,830$9,171$8,553$7,977$7,439$5,989
8 years$8,515$7,861$7,254$6,692$6,171$4,795
9 years$7,492$6,844$6,248$5,700$5,197$3,893
10 years$6,674$6,033$5,447$4,913$4,428$3,194
11 years$6,006$5,371$4,795$4,276$3,808$2,643
12 years$5,449$4,820$4,256$3,751$3,300$2,202
13 years$4,978$4,356$3,802$3,311$2,878$1,844
14 years$4,575$3,960$3,416$2,939$2,523$1,551
15 years$4,226$3,617$3,085$2,621$2,221$1,310
16 years$3,921$3,319$2,797$2,347$1,963$1,109
17 years$3,652$3,057$2,545$2,109$1,741$941
18 years$3,413$2,824$2,323$1,901$1,548$801
19 years$3,200$2,618$2,127$1,717$1,379$682
20 years$3,008$2,432$1,952$1,555$1,232$582
21 years$2,834$2,266$1,795$1,412$1,103$497
22 years$2,677$2,115$1,655$1,283$988$425
23 years$2,534$1,978$1,528$1,169$887$364
24 years$2,402$1,853$1,413$1,066$797$312
25 years$2,282$1,739$1,309$974$718$267
26 years$2,170$1,635$1,214$890$646$229
27 years$2,068$1,538$1,127$815$583$197
28 years$1,972$1,450$1,048$747$526$169
29 years$1,884$1,368$975$685$475$145
30 years$1,801$1,291$908$628$429$125
31 years$1,724$1,221$847$577$388$107
32 years$1,652$1,155$790$530$351$92
33 years$1,585$1,094$738$488$318$79
34 years$1,521$1,037$689$449$287$68
35 years$1,462$983$644$413$260$58
36 years$1,406$933$603$380$236$50
37 years$1,353$887$564$351$214$43
38 years$1,302$843$528$323$194$37
39 years$1,255$801$495$298$176$32
40 years$1,210$762$464$275$159$28
41 years$1,167$726$435$253$145$24
42 years$1,127$691$408$234$131$20
43 years$1,088$658$383$216$119$18
44 years$1,052$628$359$199$108$15
45 years$1,017$598$337$184$98$13
46 years$983$571$317$170$89$11
47 years$951$545$298$157$81$10
48 years$921$520$280$145$73$8
49 years$892$497$263$134$67$7
50 years$864$474$247$124$61$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $885,000, adding $2,205 every year, while hoping to spend $55,171 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: 60/24/16 Blend
59$885,000$885,000$885,000$885,000
60$977,544$930,639$916,922$1,032,094
61$1,018,552$917,539$888,937$1,056,059
62$1,061,894$901,948$858,166$1,075,848
63$1,107,749$883,686$824,457$1,096,144
64$1,156,315$862,561$787,651$1,117,005
65$1,207,804$838,371$747,582$1,138,493
66$1,262,452$810,904$704,078$1,160,681
67$1,320,514$779,930$656,957$1,183,652
68$1,382,272$745,212$606,031$1,207,499
69$1,448,032$706,496$551,101$1,232,328
70$1,518,129$663,512$491,961$1,258,261
71$1,592,932$615,978$428,395$1,285,434
72$1,672,843$563,593$360,178$1,314,000
73$1,758,305$506,040$287,076$1,344,133
74$1,849,800$442,985$208,841$1,376,028
75$1,947,861$374,072$125,218$1,409,905
76$2,053,069$298,928$35,940$1,446,011
77$2,166,065$217,158$0$1,484,624
78$2,287,548$128,344$0$1,536,182
79$2,418,290$32,045$0$1,598,112
80$2,559,137$0$0$1,664,713
81$2,711,016$0$0$1,755,543
82$2,874,949$0$0$1,862,770
83$3,052,056$0$0$1,978,672
84$3,243,570$0$0$2,104,062
85$3,450,845$0$0$2,239,833
86$3,675,369$0$0$2,386,970
87$3,918,780$0$0$2,546,553
88$4,182,877$0$0$2,719,771
89$4,469,640$0$0$2,907,931
90$4,781,247$0$0$3,112,473
91$5,120,092$0$0$3,334,977
92$5,488,810$0$0$3,577,185
93$5,890,302$0$0$3,841,013
94$6,327,757$0$0$4,128,568
95$6,804,687$0$0$4,442,171
96$7,324,956$0$0$4,784,375
97$7,892,818$0$0$5,157,990
98$8,512,954$0$0$5,566,110
99$9,190,518$0$0$6,012,142
100$9,931,185$0$0$6,499,835