Can I retire at age 60 with 905,000?

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 $905,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$74,734$74,068$73,419$72,785$72,166$70,052
2 years$36,997$36,308$35,640$34,993$34,365$32,252
3 years$24,420$23,728$23,062$22,420$21,802$19,758
4 years$18,132$17,442$16,783$16,152$15,550$13,588
5 years$14,361$13,675$13,024$12,407$11,821$9,948
6 years$11,847$11,167$10,526$9,922$9,353$7,570
7 years$10,053$9,378$8,747$8,157$7,607$5,914
8 years$8,707$8,038$7,418$6,843$6,310$4,707
9 years$7,661$6,999$6,389$5,829$5,314$3,799
10 years$6,825$6,169$5,570$5,024$4,528$3,098
11 years$6,141$5,492$4,904$4,373$3,894$2,547
12 years$5,572$4,929$4,352$3,835$3,375$2,108
13 years$5,091$4,455$3,888$3,386$2,943$1,753
14 years$4,678$4,049$3,494$3,006$2,580$1,465
15 years$4,322$3,699$3,154$2,681$2,271$1,228
16 years$4,009$3,394$2,860$2,400$2,007$1,032
17 years$3,734$3,126$2,602$2,157$1,780$870
18 years$3,490$2,888$2,376$1,944$1,583$734
19 years$3,272$2,677$2,175$1,756$1,411$621
20 years$3,076$2,487$1,996$1,591$1,260$526
21 years$2,899$2,317$1,836$1,443$1,128$446
22 years$2,738$2,163$1,692$1,312$1,011$378
23 years$2,591$2,023$1,562$1,195$907$321
24 years$2,457$1,895$1,445$1,090$815$273
25 years$2,333$1,779$1,338$996$734$232
26 years$2,220$1,672$1,241$910$661$198
27 years$2,114$1,573$1,152$833$596$168
28 years$2,017$1,482$1,071$763$538$143
29 years$1,927$1,398$997$700$486$122
30 years$1,842$1,321$929$643$439$104
31 years$1,763$1,248$866$590$397$89
32 years$1,690$1,181$808$542$359$76
33 years$1,621$1,119$754$499$325$64
34 years$1,556$1,060$705$459$294$55
35 years$1,495$1,006$659$422$266$47
36 years$1,437$955$616$389$241$40
37 years$1,383$907$577$358$219$34
38 years$1,332$862$540$330$198$29
39 years$1,283$819$506$305$180$25
40 years$1,237$779$474$281$163$21
41 years$1,194$742$445$259$148$18
42 years$1,152$707$417$239$134$15
43 years$1,113$673$392$221$122$13
44 years$1,075$642$368$204$111$11
45 years$1,040$612$345$188$100$10
46 years$1,005$584$324$174$91$8
47 years$973$557$305$161$83$7
48 years$942$532$286$149$75$6
49 years$912$508$269$137$68$5
50 years$884$485$253$127$62$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $905,000, adding $5,697 every year, while hoping to spend $26,493 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: 60/22/18 Blend
59$905,000$905,000$905,000$905,000
60$1,003,186$955,221$941,194$1,058,385
61$1,077,323$973,839$944,536$1,114,980
62$1,158,134$992,481$947,101$1,173,260
63$1,246,271$1,011,120$948,837$1,236,233
64$1,342,454$1,029,728$949,686$1,304,355
65$1,447,473$1,048,273$949,589$1,378,131
66$1,562,198$1,066,722$948,484$1,458,118
67$1,687,589$1,085,038$946,304$1,544,929
68$1,824,700$1,103,182$942,982$1,639,239
69$1,974,693$1,121,111$938,446$1,741,795
70$2,138,848$1,138,781$932,620$1,853,416
71$2,318,572$1,156,144$925,424$1,975,010
72$2,515,418$1,173,146$916,777$2,107,574
73$2,731,092$1,189,732$906,591$2,252,208
74$2,967,478$1,205,843$894,776$2,410,127
75$3,226,645$1,221,414$881,236$2,582,667
76$3,510,877$1,236,378$865,872$2,771,303
77$3,822,687$1,250,661$848,579$2,977,661
78$4,164,843$1,264,185$829,248$3,203,534
79$4,540,395$1,276,868$807,766$3,450,896
80$4,952,701$1,288,620$784,012$3,721,927
81$5,405,462$1,299,348$757,861$4,019,029
82$5,902,753$1,308,950$729,184$4,344,847
83$6,449,065$1,317,319$697,842$4,702,303
84$7,049,344$1,324,342$663,694$5,094,612
85$7,709,039$1,329,897$626,590$5,525,324
86$8,434,154$1,333,855$586,374$5,998,348
87$9,231,303$1,336,079$542,883$6,517,995
88$10,107,772$1,336,423$495,946$7,089,020
89$11,071,590$1,334,733$445,385$7,716,660
90$12,131,601$1,330,844$391,014$8,406,692
91$13,297,550$1,324,581$332,639$9,165,484
92$14,580,175$1,315,761$270,058$10,000,053
93$15,991,306$1,304,186$203,057$10,918,138
94$17,543,976$1,289,648$131,416$11,928,268
95$19,252,547$1,271,926$54,905$13,039,845
96$21,132,844$1,250,788$0$14,263,234
97$23,202,303$1,225,985$0$15,614,996
98$25,480,134$1,197,254$0$17,114,174
99$27,987,506$1,164,319$0$18,764,146
100$30,747,745$1,126,884$0$20,580,265