Worked example
Can I retire at 60 with £400k?
Yes — on these assumptions, £400k can comfortably support retiring at 60 on around £20k a year, and the pot is still projected to be growing by the end. Spend more and the picture tightens quickly, as the table below shows.
Retiring a year or two either side barely changes the picture, so this also answers retiring at 58, 59, 61 or 62 with £400k — or use the live calculator below for your exact age.
This page has a live calculator — drag your own pension, ISA, savings and age to see the answer update instantly.
The example we modelled
A single person retiring at 60 today with a £400k pot, split so the pension is the bulk of the money. All figures are in today’s money (real terms).
The result at £20k a year
This is the most you could spend each year and still keep the plan funded to age 95.
What retiring at 60 with £400k really means
Your State Pension changes the maths at 67
Until 67 every pound of the £20k-a-year lifestyle comes from your own savings. Once the full State Pension (£12,548) starts, it covers a chunk of that.
The amount you draw from savings drops from about £20,000 in the year before to £7,452 after — roughly £12,548 a year less pressure on the pot for the rest of retirement.
Where the headroom is
At £20k a year the plan stays funded to 95, with about £692,167 projected to be left at the end.
Push spending up to £30k a year, though, and it tips into shortfall — the money would run dry around age 85. That gap between £20k and £30k is your real margin.
How far £400k stretches at different spending levels
The same pot, retiring at 60, tested from £15k to £60k of annual spending.
| Annual spending | Verdict | Money lasts | Left at 95 |
|---|---|---|---|
| £15,000 | On track | Lasts to 95 | £1,142,219 |
| £20,000 | On track | Lasts to 95 | £692,167 |
| £30,000 | Runs short | Runs out at 85 | £0 |
| £40,000 | Runs short | Runs out at 73 | £0 |
| £50,000 | Runs short | Runs out at 68 | £0 |
| £60,000 | Runs short | Runs out at 66 | £0 |
Year-by-year projection at £20k a year
Projected balances every five years, in today’s money. Spending includes your State Pension once it starts at 67, so the amount drawn from your savings drops from then on.
| Age | Spending | State Pension | Drawn from savings | Pot value |
|---|---|---|---|---|
| 60 | £20,000 | £0 | £20,000 | £396,000 |
| 65 | £20,000 | £0 | £20,000 | £373,468 |
| 70 | £20,000 | £12,548 | £7,452 | £399,339 |
| 75 | £20,000 | £12,548 | £9,310 | £442,415 |
| 80 | £20,000 | £12,548 | £9,310 | £487,843 |
| 85 | £20,000 | £12,548 | £9,310 | £543,112 |
| 90 | £20,000 | £12,548 | £9,310 | £610,355 |
| 95 | £20,000 | £12,548 | £9,310 | £692,167 |
Illustrative only, using fixed assumptions. Investment returns are not guaranteed and your own tax, income and circumstances will differ. Not regulated financial advice.
Try it with your own numbers
LiveThis runs the real planner engine right here in your browser. Change your pots and monthly saving and watch the answer for retiring at 60 update instantly.
Every year is funded, and savings are still growing at the end of the plan
Projected pot (today's money)
Retiring at 60 with a different pot
Retiring with £400k at a different age
Frequently asked questions
Can I retire at 60 with £400k?
Yes — on these assumptions, £400k can comfortably support retiring at 60 on around £20k a year, and the pot is still projected to be growing by the end. Spend more and the picture tightens quickly, as the table below shows. These figures assume £400k split as £320k in a pension and £80k in an ISA, £12,548 of State Pension from age 67, and around 5% investment growth a year above inflation.
How much can I spend a year if I retire at 60 with £400k?
On these assumptions the pot supports about £20k a year and still lasts to age 95. The table on this page shows what happens at £15k, £20k, £30k, £40k, £50k and £60k a year, so you can see where the plan tips from "lasts" to "runs out".
Can I access my pension at 60?
Yes. You can normally take a private or workplace pension from age 55 (rising to 57 in April 2028), so at 60 the whole pot is available to draw on.
Are these numbers financial advice?
No. This is an illustrative worked example from a free planning tool, using fixed assumptions about growth, inflation, tax and the State Pension. Your own situation — other pensions, a partner, different returns — will change the answer. Open the planner to run it with your real figures.