Can I retire at age 60 with 893,000?

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 $893,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$73,743$73,086$72,445$71,820$71,209$69,013
2 years$36,506$35,827$35,168$34,529$33,909$31,715
3 years$24,096$23,413$22,756$22,123$21,513$19,391
4 years$17,892$17,211$16,560$15,938$15,343$13,309
5 years$14,170$13,494$12,852$12,242$11,664$9,723
6 years$11,690$11,019$10,386$9,790$9,229$7,383
7 years$9,919$9,253$8,631$8,049$7,506$5,755
8 years$8,592$7,932$7,320$6,752$6,227$4,569
9 years$7,560$6,906$6,304$5,751$5,244$3,678
10 years$6,735$6,087$5,496$4,958$4,468$2,992
11 years$6,060$5,419$4,839$4,315$3,843$2,454
12 years$5,498$4,864$4,294$3,785$3,330$2,026
13 years$5,023$4,396$3,837$3,341$2,904$1,680
14 years$4,616$3,996$3,447$2,966$2,545$1,400
15 years$4,264$3,650$3,112$2,645$2,241$1,170
16 years$3,956$3,349$2,822$2,368$1,981$981
17 years$3,685$3,084$2,568$2,128$1,756$824
18 years$3,444$2,850$2,344$1,918$1,562$694
19 years$3,229$2,641$2,146$1,733$1,392$585
20 years$3,035$2,454$1,969$1,569$1,243$494
21 years$2,860$2,286$1,811$1,424$1,113$417
22 years$2,701$2,134$1,670$1,295$997$353
23 years$2,557$1,996$1,542$1,179$895$299
24 years$2,424$1,870$1,426$1,076$805$253
25 years$2,302$1,755$1,320$982$724$215
26 years$2,190$1,649$1,225$898$652$182
27 years$2,086$1,552$1,137$822$588$155
28 years$1,990$1,463$1,057$753$531$131
29 years$1,901$1,380$984$691$479$111
30 years$1,818$1,303$916$634$433$95
31 years$1,740$1,232$854$582$391$80
32 years$1,667$1,166$797$535$354$68
33 years$1,599$1,104$744$492$320$58
34 years$1,535$1,046$695$453$290$49
35 years$1,475$992$650$417$263$42
36 years$1,418$942$608$384$238$36
37 years$1,365$895$569$354$216$30
38 years$1,314$850$533$326$196$26
39 years$1,266$808$499$301$177$22
40 years$1,221$769$468$277$161$19
41 years$1,178$732$439$256$146$16
42 years$1,137$697$412$236$132$13
43 years$1,098$664$386$218$120$11
44 years$1,061$633$363$201$109$10
45 years$1,026$604$341$186$99$8
46 years$992$576$320$172$90$7
47 years$960$550$300$159$82$6
48 years$929$525$282$147$74$5
49 years$900$501$265$135$67$4
50 years$872$479$250$125$61$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $893,000, adding $5,055 every year, while hoping to spend $33,818 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: 79/7/14 Blend
59$893,000$893,000$893,000$893,000
60$989,300$941,971$928,130$1,064,263
61$1,054,227$952,146$923,240$1,124,480
62$1,124,642$961,685$917,053$1,185,688
63$1,201,071$970,523$909,490$1,251,884
64$1,284,090$978,588$900,467$1,323,552
65$1,374,332$985,805$889,898$1,401,226
66$1,472,497$992,091$877,692$1,485,496
67$1,579,350$997,362$863,753$1,577,008
68$1,695,737$1,001,527$847,982$1,676,477
69$1,822,588$1,004,487$830,275$1,784,691
70$1,960,924$1,006,139$810,522$1,902,516
71$2,111,873$1,006,374$788,609$2,030,908
72$2,276,672$1,005,075$764,416$2,170,920
73$2,456,687$1,002,118$737,818$2,323,714
74$2,653,419$997,372$708,685$2,490,567
75$2,868,522$990,697$676,879$2,672,889
76$3,103,815$981,945$642,259$2,872,234
77$3,361,303$970,959$604,673$3,090,313
78$3,643,193$957,574$563,967$3,329,014
79$3,951,916$941,612$519,977$3,590,415
80$4,290,148$922,887$472,533$3,876,809
81$4,660,836$901,202$421,456$4,190,721
82$5,067,227$876,346$366,560$4,534,935
83$5,512,895$848,099$307,651$4,912,521
84$6,001,780$816,224$244,527$5,326,859
85$6,538,217$780,475$176,975$5,781,677
86$7,126,986$740,589$104,773$6,281,082
87$7,773,347$696,287$27,692$6,829,604
88$8,483,099$647,275$0$7,432,232
89$9,262,627$593,244$0$8,102,619
90$10,118,966$533,863$0$8,843,618
91$11,059,865$468,787$0$9,657,812
92$12,093,862$397,648$0$10,552,604
93$13,230,362$320,059$0$11,536,155
94$14,479,727$235,611$0$12,617,455
95$15,853,374$143,870$0$13,806,411
96$17,363,878$44,380$0$15,113,939
97$19,025,099$0$0$16,552,066
98$20,852,302$0$0$18,138,926
99$22,862,309$0$0$19,888,336
100$25,073,654$0$0$21,813,012