Can I retire at age 60 with 892,000?

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 $892,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$73,661$73,004$72,364$71,739$71,129$69,951
2 years$36,466$35,786$35,128$34,490$33,871$32,687
3 years$24,069$23,387$22,730$22,098$21,489$20,337
4 years$17,872$17,192$16,542$15,920$15,326$14,214
5 years$14,154$13,479$12,837$12,228$11,651$10,582
6 years$11,677$11,006$10,374$9,779$9,219$8,195
7 years$9,908$9,243$8,621$8,040$7,497$6,519
8 years$8,582$7,923$7,311$6,745$6,220$5,286
9 years$7,551$6,898$6,297$5,745$5,238$4,349
10 years$6,727$6,081$5,490$4,952$4,463$3,617
11 years$6,053$5,413$4,833$4,310$3,838$3,035
12 years$5,492$4,859$4,290$3,780$3,326$2,565
13 years$5,018$4,391$3,832$3,337$2,901$2,180
14 years$4,611$3,991$3,443$2,963$2,543$1,861
15 years$4,259$3,646$3,109$2,642$2,239$1,596
16 years$3,952$3,345$2,819$2,366$1,979$1,372
17 years$3,681$3,081$2,565$2,126$1,754$1,183
18 years$3,440$2,847$2,341$1,916$1,560$1,023
19 years$3,225$2,638$2,143$1,731$1,390$886
20 years$3,032$2,452$1,967$1,568$1,242$768
21 years$2,857$2,284$1,809$1,423$1,111$668
22 years$2,698$2,132$1,668$1,294$996$581
23 years$2,554$1,994$1,540$1,178$894$506
24 years$2,421$1,868$1,424$1,075$804$441
25 years$2,300$1,753$1,319$981$723$385
26 years$2,188$1,648$1,223$897$651$336
27 years$2,084$1,551$1,136$821$587$293
28 years$1,988$1,461$1,056$752$530$256
29 years$1,899$1,378$983$690$479$224
30 years$1,816$1,302$915$633$432$196
31 years$1,738$1,231$853$582$391$172
32 years$1,666$1,164$796$535$354$150
33 years$1,597$1,103$743$492$320$131
34 years$1,534$1,045$695$452$290$115
35 years$1,473$991$649$416$262$101
36 years$1,417$941$607$383$238$88
37 years$1,363$894$569$353$216$77
38 years$1,313$849$532$326$195$68
39 years$1,265$807$499$300$177$59
40 years$1,220$768$468$277$161$52
41 years$1,176$731$438$255$146$46
42 years$1,136$696$411$236$132$40
43 years$1,097$664$386$218$120$35
44 years$1,060$633$362$201$109$31
45 years$1,025$603$340$186$99$27
46 years$991$575$319$171$90$24
47 years$959$549$300$158$82$21
48 years$928$524$282$146$74$18
49 years$899$501$265$135$67$16
50 years$871$478$249$125$61$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $892,000, adding $3,465 every year, while hoping to spend $44,559 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: 30/47/23 Blend
59$892,000$892,000$892,000$892,000
60$986,558$939,282$925,456$1,009,017
61$1,039,777$937,897$909,048$1,025,155
62$1,096,930$934,950$890,598$1,038,302
63$1,158,373$930,318$869,988$1,051,527
64$1,224,493$923,870$847,100$1,064,864
65$1,295,719$915,467$821,805$1,078,357
66$1,372,519$904,962$793,973$1,092,055
67$1,455,409$892,198$763,464$1,106,021
68$1,544,955$877,010$730,134$1,120,324
69$1,641,779$859,222$693,832$1,135,049
70$1,746,565$838,649$654,400$1,150,292
71$1,860,065$815,093$611,673$1,166,166
72$1,983,106$788,346$565,478$1,182,800
73$2,116,596$758,189$515,634$1,200,344
74$2,261,535$724,386$461,955$1,218,969
75$2,419,023$686,693$404,242$1,238,869
76$2,590,270$644,847$342,290$1,260,266
77$2,776,605$598,572$275,884$1,283,415
78$2,979,494$547,577$204,801$1,308,602
79$3,200,547$491,553$128,807$1,336,151
80$3,441,538$430,174$47,657$1,366,431
81$3,704,417$363,095$0$1,399,857
82$3,991,334$289,953$0$1,446,452
83$4,304,651$210,361$0$1,510,289
84$4,646,972$123,916$0$1,580,319
85$5,021,162$30,186$0$1,657,277
86$5,430,376$0$0$1,741,983
87$5,878,086$0$0$1,872,213
88$6,368,118$0$0$2,031,979
89$6,904,684$0$0$2,207,058
90$7,492,420$0$0$2,398,981
91$8,136,434$0$0$2,609,435
92$8,842,350$0$0$2,840,276
93$9,616,365$0$0$3,093,550
94$10,465,299$0$0$3,371,511
95$11,396,669$0$0$3,676,640
96$12,418,752$0$0$4,011,671
97$13,540,666$0$0$4,379,615
98$14,772,453$0$0$4,783,791
99$16,125,178$0$0$5,227,853
100$17,611,028$0$0$5,715,826