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%15.6%
1 years$73,661$73,004$72,364$71,739$71,129$69,494
2 years$36,466$35,786$35,128$34,490$33,871$32,233
3 years$24,069$23,387$22,730$22,098$21,489$19,899
4 years$17,872$17,192$16,542$15,920$15,326$13,796
5 years$14,154$13,479$12,837$12,228$11,651$10,185
6 years$11,677$11,006$10,374$9,779$9,219$7,820
7 years$9,908$9,243$8,621$8,040$7,497$6,164
8 years$8,582$7,923$7,311$6,745$6,220$4,952
9 years$7,551$6,898$6,297$5,745$5,238$4,035
10 years$6,727$6,081$5,490$4,952$4,463$3,324
11 years$6,053$5,413$4,833$4,310$3,838$2,761
12 years$5,492$4,859$4,290$3,780$3,326$2,309
13 years$5,018$4,391$3,832$3,337$2,901$1,942
14 years$4,611$3,991$3,443$2,963$2,543$1,640
15 years$4,259$3,646$3,109$2,642$2,239$1,390
16 years$3,952$3,345$2,819$2,366$1,979$1,182
17 years$3,681$3,081$2,565$2,126$1,754$1,008
18 years$3,440$2,847$2,341$1,916$1,560$861
19 years$3,225$2,638$2,143$1,731$1,390$737
20 years$3,032$2,452$1,967$1,568$1,242$632
21 years$2,857$2,284$1,809$1,423$1,111$542
22 years$2,698$2,132$1,668$1,294$996$466
23 years$2,554$1,994$1,540$1,178$894$401
24 years$2,421$1,868$1,424$1,075$804$345
25 years$2,300$1,753$1,319$981$723$297
26 years$2,188$1,648$1,223$897$651$256
27 years$2,084$1,551$1,136$821$587$221
28 years$1,988$1,461$1,056$752$530$190
29 years$1,899$1,378$983$690$479$164
30 years$1,816$1,302$915$633$432$142
31 years$1,738$1,231$853$582$391$123
32 years$1,666$1,164$796$535$354$106
33 years$1,597$1,103$743$492$320$91
34 years$1,534$1,045$695$452$290$79
35 years$1,473$991$649$416$262$68
36 years$1,417$941$607$383$238$59
37 years$1,363$894$569$353$216$51
38 years$1,313$849$532$326$195$44
39 years$1,265$807$499$300$177$38
40 years$1,220$768$468$277$161$33
41 years$1,176$731$438$255$146$29
42 years$1,136$696$411$236$132$25
43 years$1,097$664$386$218$120$21
44 years$1,060$633$362$201$109$18
45 years$1,025$603$340$186$99$16
46 years$991$575$319$171$90$14
47 years$959$549$300$158$82$12
48 years$928$524$282$146$74$10
49 years$899$501$265$135$67$9
50 years$871$478$249$125$61$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $892,000, adding $5,700 every year, while hoping to spend $47,131 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: 32/50/18 Blend
59$892,000$892,000$892,000$892,000
60$988,864$941,588$927,762$1,014,796
61$1,039,581$937,578$908,695$1,030,570
62$1,093,891$931,793$887,409$1,042,828
63$1,152,112$924,095$863,781$1,055,028
64$1,214,591$914,339$837,681$1,067,194
65$1,281,709$902,371$808,973$1,079,355
66$1,353,884$888,028$777,515$1,091,545
67$1,431,577$871,139$743,159$1,103,809
68$1,515,292$851,518$705,748$1,116,200
69$1,605,583$828,974$665,122$1,128,782
70$1,703,059$803,301$621,111$1,141,631
71$1,808,390$774,281$573,537$1,154,836
72$1,922,311$741,686$522,215$1,168,501
73$2,045,629$705,271$466,952$1,182,748
74$2,179,234$664,780$407,546$1,197,719
75$2,324,103$619,941$343,785$1,213,576
76$2,481,310$570,467$275,451$1,230,505
77$2,652,037$516,053$202,311$1,248,723
78$2,837,583$456,378$124,127$1,268,474
79$3,039,379$391,103$40,648$1,290,038
80$3,258,997$319,868$0$1,313,732
81$3,498,169$242,296$0$1,349,222
82$3,758,799$157,985$0$1,396,549
83$4,042,984$66,514$0$1,448,415
84$4,353,030$0$0$1,505,399
85$4,691,477$0$0$1,586,066
86$5,061,121$0$0$1,714,265
87$5,465,038$0$0$1,854,482
88$5,906,617$0$0$2,007,910
89$6,389,588$0$0$2,175,862
90$6,918,057$0$0$2,359,784
91$7,496,547$0$0$2,561,269
92$8,130,038$0$0$2,782,071
93$8,824,013$0$0$3,024,120
94$9,584,513$0$0$3,289,544
95$10,418,187$0$0$3,580,685
96$11,332,362$0$0$3,900,124
97$12,335,106$0$0$4,250,704
98$13,435,305$0$0$4,635,555
99$14,642,748$0$0$5,058,126
100$15,968,217$0$0$5,522,217