Can I retire at age 60 with 902,000?

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 $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%14.1%
1 years$74,486$73,823$73,176$72,544$71,927$70,706
2 years$36,874$36,188$35,522$34,877$34,251$33,025
3 years$24,339$23,649$22,985$22,346$21,730$20,537
4 years$18,072$17,385$16,727$16,099$15,498$14,347
5 years$14,313$13,630$12,981$12,366$11,781$10,675
6 years$11,808$11,130$10,491$9,889$9,322$8,263
7 years$10,019$9,347$8,718$8,130$7,581$6,569
8 years$8,678$8,012$7,393$6,820$6,290$5,324
9 years$7,636$6,976$6,368$5,809$5,297$4,377
10 years$6,803$6,149$5,552$5,008$4,513$3,639
11 years$6,121$5,474$4,888$4,358$3,881$3,051
12 years$5,554$4,913$4,338$3,823$3,364$2,577
13 years$5,074$4,440$3,875$3,375$2,933$2,189
14 years$4,663$4,036$3,482$2,996$2,571$1,867
15 years$4,307$3,687$3,144$2,672$2,264$1,600
16 years$3,996$3,383$2,850$2,392$2,001$1,375
17 years$3,722$3,115$2,594$2,149$1,774$1,185
18 years$3,479$2,879$2,368$1,937$1,577$1,023
19 years$3,261$2,668$2,168$1,750$1,406$886
20 years$3,066$2,479$1,989$1,585$1,256$768
21 years$2,889$2,309$1,830$1,439$1,124$666
22 years$2,729$2,156$1,686$1,308$1,007$579
23 years$2,582$2,016$1,557$1,191$904$504
24 years$2,448$1,889$1,440$1,087$813$439
25 years$2,325$1,773$1,334$992$731$383
26 years$2,212$1,666$1,237$907$659$334
27 years$2,107$1,568$1,149$830$594$291
28 years$2,010$1,477$1,068$761$536$254
29 years$1,920$1,394$994$698$484$222
30 years$1,836$1,316$926$640$437$194
31 years$1,758$1,244$863$588$395$170
32 years$1,684$1,177$805$541$358$149
33 years$1,615$1,115$752$497$324$130
34 years$1,551$1,057$702$457$293$114
35 years$1,490$1,002$657$421$265$100
36 years$1,433$951$614$388$240$87
37 years$1,379$904$575$357$218$76
38 years$1,327$859$538$329$198$67
39 years$1,279$817$504$304$179$58
40 years$1,233$777$473$280$163$51
41 years$1,190$740$443$258$147$45
42 years$1,148$704$416$238$134$39
43 years$1,109$671$390$220$121$34
44 years$1,072$640$366$203$110$30
45 years$1,036$610$344$188$100$26
46 years$1,002$582$323$173$91$23
47 years$970$555$304$160$82$20
48 years$939$530$285$148$75$18
49 years$909$506$268$137$68$16
50 years$881$484$252$126$62$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $902,000, adding $3,343 every year, while hoping to spend $43,484 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: 45/44/11 Blend
59$902,000$902,000$902,000$902,000
60$997,452$949,646$935,665$1,039,081
61$1,052,926$949,912$920,743$1,068,554
62$1,112,600$948,734$903,864$1,095,787
63$1,176,858$945,995$884,916$1,124,341
64$1,246,120$941,570$863,783$1,154,354
65$1,320,846$935,330$840,342$1,185,979
66$1,401,545$927,134$814,466$1,219,390
67$1,488,774$916,834$786,022$1,254,780
68$1,583,144$904,274$754,869$1,292,365
69$1,685,329$889,288$720,861$1,332,384
70$1,796,069$871,700$683,847$1,375,107
71$1,916,178$851,323$643,666$1,420,833
72$2,046,551$827,960$600,151$1,469,896
73$2,188,172$801,403$553,129$1,522,668
74$2,342,124$771,430$502,417$1,579,564
75$2,509,598$737,808$447,825$1,641,044
76$2,691,904$700,287$389,155$1,707,622
77$2,890,485$658,608$326,198$1,779,869
78$3,106,927$612,493$258,739$1,858,419
79$3,342,977$561,649$186,550$1,943,977
80$3,600,557$505,766$109,396$2,037,328
81$3,881,784$444,518$27,030$2,139,342
82$4,188,985$377,559$0$2,250,985
83$4,524,726$304,524$0$2,380,474
84$4,891,829$225,026$0$2,525,704
85$5,293,402$138,659$0$2,684,854
86$5,732,868$44,992$0$2,859,422
87$6,213,994$0$0$3,051,066
88$6,740,932$0$0$3,288,945
89$7,318,250$0$0$3,573,539
90$7,950,981$0$0$3,885,560
91$8,644,668$0$0$4,227,754
92$9,405,416$0$0$4,603,146
93$10,239,949$0$0$5,015,069
94$11,155,672$0$0$5,467,194
95$12,160,744$0$0$5,963,565
96$13,264,149$0$0$6,508,634
97$14,475,786$0$0$7,107,310
98$15,806,559$0$0$7,764,997
99$17,268,480$0$0$8,487,649
100$18,874,780$0$0$9,281,826