Can I retire at age 60 with 906,000?

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 $906,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$74,817$74,150$73,500$72,865$72,246$71,851
2 years$37,038$36,348$35,680$35,031$34,403$34,004
3 years$24,447$23,754$23,087$22,445$21,826$21,437
4 years$18,152$17,462$16,801$16,170$15,567$15,189
5 years$14,377$13,690$13,039$12,420$11,834$11,468
6 years$11,860$11,179$10,537$9,933$9,364$9,012
7 years$10,064$9,388$8,756$8,166$7,615$7,277
8 years$8,717$8,047$7,426$6,850$6,317$5,993
9 years$7,670$7,007$6,396$5,835$5,320$5,009
10 years$6,833$6,176$5,576$5,030$4,533$4,235
11 years$6,148$5,498$4,909$4,377$3,899$3,614
12 years$5,578$4,935$4,357$3,840$3,378$3,106
13 years$5,096$4,460$3,893$3,390$2,946$2,687
14 years$4,684$4,054$3,497$3,009$2,583$2,335
15 years$4,326$3,703$3,158$2,684$2,274$2,039
16 years$4,014$3,398$2,863$2,403$2,010$1,786
17 years$3,739$3,129$2,605$2,159$1,782$1,570
18 years$3,494$2,891$2,378$1,946$1,584$1,383
19 years$3,276$2,680$2,177$1,758$1,412$1,222
20 years$3,079$2,490$1,998$1,592$1,261$1,081
21 years$2,902$2,319$1,838$1,445$1,129$958
22 years$2,741$2,165$1,694$1,314$1,012$851
23 years$2,594$2,025$1,564$1,197$908$757
24 years$2,459$1,897$1,446$1,091$816$673
25 years$2,336$1,780$1,340$997$735$600
26 years$2,222$1,673$1,242$911$662$535
27 years$2,117$1,575$1,154$834$597$477
28 years$2,019$1,484$1,073$764$538$426
29 years$1,929$1,400$998$701$486$381
30 years$1,844$1,322$930$643$439$341
31 years$1,765$1,250$867$591$397$305
32 years$1,692$1,183$809$543$359$273
33 years$1,623$1,120$755$499$325$244
34 years$1,558$1,061$705$459$294$219
35 years$1,496$1,007$660$423$267$196
36 years$1,439$956$617$389$242$176
37 years$1,385$908$578$359$219$158
38 years$1,333$863$541$331$198$141
39 years$1,285$820$507$305$180$127
40 years$1,239$780$475$281$163$114
41 years$1,195$743$445$260$148$102
42 years$1,153$707$418$239$134$92
43 years$1,114$674$392$221$122$82
44 years$1,076$642$368$204$111$74
45 years$1,041$613$345$189$100$66
46 years$1,007$584$324$174$91$59
47 years$974$558$305$161$83$53
48 years$943$532$286$149$75$48
49 years$913$508$269$137$68$43
50 years$885$486$253$127$62$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $906,000, adding $6,931 every year, while hoping to spend $53,622 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: 80/12/8 Blend
59$906,000$906,000$906,000$906,000
60$1,005,561$957,543$943,500$1,084,402
61$1,051,075$947,410$918,054$1,126,936
62$1,099,434$934,982$889,958$1,165,845
63$1,150,872$920,092$859,068$1,206,931
64$1,205,645$902,560$825,230$1,250,386
65$1,264,031$882,196$788,286$1,296,420
66$1,326,339$858,800$748,070$1,345,264
67$1,392,903$832,159$704,408$1,397,172
68$1,464,093$802,048$657,119$1,452,428
69$1,540,310$768,229$606,013$1,511,340
70$1,621,999$730,449$550,891$1,574,251
71$1,709,644$688,442$491,547$1,641,538
72$1,803,778$641,926$427,764$1,713,619
73$1,904,986$590,603$359,317$1,790,952
74$2,013,909$534,157$285,969$1,874,044
75$2,131,253$472,256$207,474$1,963,455
76$2,257,792$404,548$123,576$2,059,802
77$2,394,376$330,660$34,005$2,163,766
78$2,541,940$250,200$0$2,276,098
79$2,701,511$162,752$0$2,402,885
80$2,874,216$67,879$0$2,543,223
81$3,061,298$0$0$2,695,243
82$3,264,121$0$0$2,864,693
83$3,484,185$0$0$3,058,293
84$3,723,139$0$0$3,268,534
85$3,982,799$0$0$3,497,016
86$4,265,162$0$0$3,745,499
87$4,572,423$0$0$4,015,918
88$4,906,999$0$0$4,310,404
89$5,271,550$0$0$4,631,301
90$5,669,003$0$0$4,981,188
91$6,102,578$0$0$5,362,905
92$6,575,821$0$0$5,779,576
93$7,092,634$0$0$6,234,642
94$7,657,313$0$0$6,731,889
95$8,274,589$0$0$7,275,487
96$8,949,668$0$0$7,870,026
97$9,688,283$0$0$8,520,559
98$10,496,749$0$0$9,232,653
99$11,382,016$0$0$10,012,434
100$12,351,741$0$0$10,866,652