Can I retire at age 60 with 902,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $902,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$74,486$73,823$73,176$72,544$71,927$70,018
2 years$36,874$36,188$35,522$34,877$34,251$32,341
3 years$24,339$23,649$22,985$22,346$21,730$19,879
4 years$18,072$17,385$16,727$16,099$15,498$13,720
5 years$14,313$13,630$12,981$12,366$11,781$10,081
6 years$11,808$11,130$10,491$9,889$9,322$7,701
7 years$10,019$9,347$8,718$8,130$7,581$6,040
8 years$8,678$8,012$7,393$6,820$6,290$4,827
9 years$7,636$6,976$6,368$5,809$5,297$3,912
10 years$6,803$6,149$5,552$5,008$4,513$3,204
11 years$6,121$5,474$4,888$4,358$3,881$2,647
12 years$5,554$4,913$4,338$3,823$3,364$2,200
13 years$5,074$4,440$3,875$3,375$2,933$1,839
14 years$4,663$4,036$3,482$2,996$2,571$1,544
15 years$4,307$3,687$3,144$2,672$2,264$1,301
16 years$3,996$3,383$2,850$2,392$2,001$1,099
17 years$3,722$3,115$2,594$2,149$1,774$931
18 years$3,479$2,879$2,368$1,937$1,577$790
19 years$3,261$2,668$2,168$1,750$1,406$671
20 years$3,066$2,479$1,989$1,585$1,256$572
21 years$2,889$2,309$1,830$1,439$1,124$487
22 years$2,729$2,156$1,686$1,308$1,007$416
23 years$2,582$2,016$1,557$1,191$904$355
24 years$2,448$1,889$1,440$1,087$813$303
25 years$2,325$1,773$1,334$992$731$260
26 years$2,212$1,666$1,237$907$659$222
27 years$2,107$1,568$1,149$830$594$190
28 years$2,010$1,477$1,068$761$536$163
29 years$1,920$1,394$994$698$484$139
30 years$1,836$1,316$926$640$437$120
31 years$1,758$1,244$863$588$395$102
32 years$1,684$1,177$805$541$358$88
33 years$1,615$1,115$752$497$324$75
34 years$1,551$1,057$702$457$293$65
35 years$1,490$1,002$657$421$265$55
36 years$1,433$951$614$388$240$48
37 years$1,379$904$575$357$218$41
38 years$1,327$859$538$329$198$35
39 years$1,279$817$504$304$179$30
40 years$1,233$777$473$280$163$26
41 years$1,190$740$443$258$147$22
42 years$1,148$704$416$238$134$19
43 years$1,109$671$390$220$121$16
44 years$1,072$640$366$203$110$14
45 years$1,036$610$344$188$100$12
46 years$1,002$582$323$173$91$10
47 years$970$555$304$160$82$9
48 years$939$530$285$148$75$8
49 years$909$506$268$137$68$7
50 years$881$484$252$126$62$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $902,000, adding $6,474 every year, while hoping to spend $43,525 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: 73/12/15 Blend
59$902,000$902,000$902,000$902,000
60$1,000,682$952,876$938,895$1,069,939
61$1,056,441$953,257$924,038$1,117,063
62$1,116,429$952,197$907,224$1,162,705
63$1,181,031$949,581$888,342$1,211,547
64$1,250,671$945,285$867,276$1,263,895
65$1,325,812$939,177$843,903$1,320,088
66$1,406,966$931,118$818,095$1,380,499
67$1,494,695$920,961$789,719$1,445,541
68$1,589,615$908,549$758,636$1,515,669
69$1,692,405$893,717$724,699$1,591,386
70$1,803,809$876,288$687,755$1,673,245
71$1,924,648$856,076$647,646$1,761,857
72$2,055,823$832,885$604,203$1,857,898
73$2,198,327$806,506$557,253$1,962,113
74$2,353,249$776,718$506,614$2,075,322
75$2,521,790$743,287$452,096$2,198,433
76$2,705,271$705,966$393,499$2,332,446
77$2,905,143$664,493$330,616$2,478,465
78$3,123,007$618,592$263,231$2,637,708
79$3,360,621$567,971$191,116$2,811,518
80$3,619,922$512,319$114,037$3,001,379
81$3,903,043$451,311$31,745$3,208,925
82$4,212,329$384,602$0$3,435,963
83$4,550,364$311,825$0$3,693,456
84$4,919,993$232,596$0$3,980,634
85$5,324,348$146,508$0$4,294,876
86$5,766,875$53,131$0$4,638,904
87$6,251,373$0$0$5,015,713
88$6,782,022$0$0$5,434,944
89$7,363,427$0$0$5,902,003
90$8,000,659$0$0$6,413,951
91$8,699,303$0$0$6,975,281
92$9,465,510$0$0$7,590,940
93$10,306,055$0$0$8,266,378
94$11,228,399$0$0$9,007,598
95$12,240,763$0$0$9,821,211
96$13,352,201$0$0$10,714,500
97$14,572,687$0$0$11,695,487
98$15,913,206$0$0$12,773,010
99$17,385,863$0$0$13,956,805
100$19,003,991$0$0$15,257,597