Can I retire at age 60 with 905,000?

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 $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%13.8%
1 years$74,734$74,068$73,419$72,785$72,166$71,029
2 years$36,997$36,308$35,640$34,993$34,365$33,222
3 years$24,420$23,728$23,062$22,420$21,802$20,690
4 years$18,132$17,442$16,783$16,152$15,550$14,476
5 years$14,361$13,675$13,024$12,407$11,821$10,788
6 years$11,847$11,167$10,526$9,922$9,353$8,364
7 years$10,053$9,378$8,747$8,157$7,607$6,660
8 years$8,707$8,038$7,418$6,843$6,310$5,407
9 years$7,661$6,999$6,389$5,829$5,314$4,454
10 years$6,825$6,169$5,570$5,024$4,528$3,709
11 years$6,141$5,492$4,904$4,373$3,894$3,116
12 years$5,572$4,929$4,352$3,835$3,375$2,637
13 years$5,091$4,455$3,888$3,386$2,943$2,244
14 years$4,678$4,049$3,494$3,006$2,580$1,918
15 years$4,322$3,699$3,154$2,681$2,271$1,647
16 years$4,009$3,394$2,860$2,400$2,007$1,418
17 years$3,734$3,126$2,602$2,157$1,780$1,225
18 years$3,490$2,888$2,376$1,944$1,583$1,060
19 years$3,272$2,677$2,175$1,756$1,411$920
20 years$3,076$2,487$1,996$1,591$1,260$799
21 years$2,899$2,317$1,836$1,443$1,128$695
22 years$2,738$2,163$1,692$1,312$1,011$606
23 years$2,591$2,023$1,562$1,195$907$528
24 years$2,457$1,895$1,445$1,090$815$461
25 years$2,333$1,779$1,338$996$734$403
26 years$2,220$1,672$1,241$910$661$352
27 years$2,114$1,573$1,152$833$596$308
28 years$2,017$1,482$1,071$763$538$270
29 years$1,927$1,398$997$700$486$236
30 years$1,842$1,321$929$643$439$207
31 years$1,763$1,248$866$590$397$181
32 years$1,690$1,181$808$542$359$159
33 years$1,621$1,119$754$499$325$140
34 years$1,556$1,060$705$459$294$122
35 years$1,495$1,006$659$422$266$107
36 years$1,437$955$616$389$241$94
37 years$1,383$907$577$358$219$83
38 years$1,332$862$540$330$198$73
39 years$1,283$819$506$305$180$64
40 years$1,237$779$474$281$163$56
41 years$1,194$742$445$259$148$49
42 years$1,152$707$417$239$134$43
43 years$1,113$673$392$221$122$38
44 years$1,075$642$368$204$111$33
45 years$1,040$612$345$188$100$29
46 years$1,005$584$324$174$91$26
47 years$973$557$305$161$83$23
48 years$942$532$286$149$75$20
49 years$912$508$269$137$68$17
50 years$884$485$253$127$62$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $905,000, adding $2,288 every year, while hoping to spend $24,215 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: 48/38/14 Blend
59$905,000$905,000$905,000$905,000
60$999,670$951,705$937,678$1,043,656
61$1,075,872$972,574$943,325$1,095,132
62$1,159,035$993,654$948,350$1,148,311
63$1,249,843$1,014,930$952,707$1,205,516
64$1,349,050$1,036,384$956,346$1,267,134
65$1,457,486$1,058,000$959,216$1,333,588
66$1,576,063$1,079,755$961,263$1,405,346
67$1,705,787$1,101,629$962,431$1,482,922
68$1,847,766$1,123,598$962,661$1,566,884
69$2,003,218$1,145,634$961,890$1,657,857
70$2,173,486$1,167,710$960,054$1,756,531
71$2,360,049$1,189,795$957,082$1,863,667
72$2,564,534$1,211,855$952,905$1,980,100
73$2,788,735$1,233,855$947,446$2,106,756
74$3,034,627$1,255,755$940,627$2,244,651
75$3,304,386$1,277,513$932,364$2,394,909
76$3,600,407$1,299,085$922,572$2,558,765
77$3,925,330$1,320,422$911,160$2,737,583
78$4,282,062$1,341,471$898,032$2,932,868
79$4,673,806$1,362,177$883,090$3,146,276
80$5,104,089$1,382,478$866,228$3,379,634
81$5,576,798$1,402,312$847,339$3,634,957
82$6,096,215$1,421,608$826,308$3,914,465
83$6,667,055$1,440,293$803,016$4,220,607
84$7,294,515$1,458,288$777,337$4,556,082
85$7,984,320$1,475,509$749,142$4,923,866
86$8,742,777$1,491,864$718,295$5,327,239
87$9,576,834$1,507,260$684,651$5,769,818
88$10,494,147$1,521,591$648,063$6,255,591
89$11,503,151$1,534,750$608,374$6,788,952
90$12,613,139$1,546,620$565,422$7,374,748
91$13,834,351$1,557,076$519,035$8,018,320
92$15,178,069$1,565,987$469,037$8,725,560
93$16,656,723$1,573,212$415,241$9,502,959
94$18,284,011$1,578,601$357,454$10,357,674
95$20,075,024$1,581,996$295,472$11,297,596
96$22,046,390$1,583,228$229,084$12,331,424
97$24,216,432$1,582,116$158,069$13,468,745
98$26,605,341$1,578,472$82,196$14,720,130
99$29,235,361$1,572,093$1,225$16,097,232
100$32,131,005$1,562,763$0$17,612,894