Can I retire at age 60 with 907,000?

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 $907,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$74,899$74,232$73,581$72,946$72,325$71,245
2 years$37,079$36,388$35,719$35,070$34,441$33,354
3 years$24,474$23,780$23,113$22,470$21,851$20,792
4 years$18,172$17,481$16,820$16,188$15,584$14,562
5 years$14,393$13,705$13,053$12,434$11,847$10,864
6 years$11,873$11,191$10,549$9,944$9,374$8,432
7 years$10,075$9,398$8,766$8,175$7,624$6,722
8 years$8,726$8,056$7,434$6,858$6,324$5,463
9 years$7,678$7,014$6,403$5,841$5,326$4,505
10 years$6,840$6,183$5,582$5,035$4,538$3,757
11 years$6,155$5,504$4,915$4,382$3,903$3,160
12 years$5,584$4,940$4,362$3,844$3,382$2,677
13 years$5,102$4,465$3,897$3,394$2,949$2,281
14 years$4,689$4,058$3,501$3,012$2,585$1,953
15 years$4,331$3,707$3,161$2,687$2,276$1,679
16 years$4,018$3,401$2,866$2,406$2,012$1,448
17 years$3,743$3,132$2,608$2,161$1,784$1,252
18 years$3,498$2,895$2,381$1,948$1,586$1,085
19 years$3,279$2,683$2,180$1,760$1,414$943
20 years$3,083$2,493$2,000$1,594$1,263$820
21 years$2,905$2,322$1,840$1,447$1,130$715
22 years$2,744$2,167$1,696$1,315$1,013$624
23 years$2,597$2,027$1,566$1,198$909$545
24 years$2,462$1,899$1,448$1,093$817$476
25 years$2,338$1,782$1,341$998$735$417
26 years$2,224$1,675$1,244$912$662$365
27 years$2,119$1,577$1,155$835$597$320
28 years$2,022$1,486$1,074$765$539$281
29 years$1,931$1,401$999$702$487$246
30 years$1,846$1,324$931$644$440$216
31 years$1,767$1,251$868$591$398$190
32 years$1,694$1,184$810$544$360$167
33 years$1,624$1,121$756$500$325$146
34 years$1,559$1,063$706$460$295$129
35 years$1,498$1,008$660$423$267$113
36 years$1,441$957$618$390$242$99
37 years$1,386$909$578$359$219$87
38 years$1,335$863$541$331$199$77
39 years$1,286$821$507$305$180$68
40 years$1,240$781$475$282$163$59
41 years$1,196$744$446$260$148$52
42 years$1,155$708$418$240$135$46
43 years$1,115$675$392$221$122$40
44 years$1,078$643$368$204$111$36
45 years$1,042$613$346$189$101$31
46 years$1,008$585$325$174$91$28
47 years$975$558$305$161$83$24
48 years$944$533$287$149$75$21
49 years$914$509$270$138$68$19
50 years$886$486$253$127$62$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $907,000, adding $5,942 every year, while hoping to spend $48,977 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: 48/43/9 Blend
59$907,000$907,000$907,000$907,000
60$1,005,643$957,572$943,514$1,051,190
61$1,056,108$952,382$923,010$1,077,890
62$1,110,078$945,296$900,178$1,101,238
63$1,167,860$936,170$874,889$1,125,457
64$1,229,789$924,850$847,005$1,150,643
65$1,296,234$911,173$816,386$1,176,904
66$1,367,598$894,969$782,882$1,204,363
67$1,444,323$876,053$746,340$1,233,156
68$1,526,898$854,233$706,596$1,263,440
69$1,615,856$829,305$663,481$1,295,390
70$1,711,783$801,051$616,818$1,329,200
71$1,815,326$769,243$566,422$1,365,093
72$1,927,191$733,638$512,099$1,403,316
73$2,048,157$693,979$453,647$1,444,145
74$2,179,081$649,996$390,856$1,487,892
75$2,320,902$601,400$323,504$1,534,905
76$2,474,655$547,890$251,362$1,585,572
77$2,641,477$489,143$174,190$1,640,328
78$2,822,618$424,822$91,736$1,699,659
79$3,019,455$354,568$3,739$1,764,106
80$3,233,500$278,003$0$1,834,275
81$3,466,419$194,727$0$1,919,497
82$3,720,043$104,318$0$2,012,813
83$3,996,389$6,331$0$2,114,727
84$4,297,674$0$0$2,226,200
85$4,626,341$0$0$2,395,478
86$4,985,076$0$0$2,583,607
87$5,376,837$0$0$2,789,154
88$5,804,882$0$0$3,013,841
89$6,272,795$0$0$3,259,562
90$6,784,523$0$0$3,528,403
91$7,344,413$0$0$3,822,661
92$7,957,249$0$0$4,144,866
93$8,628,301$0$0$4,497,804
94$9,363,372$0$0$4,884,541
95$10,168,852$0$0$5,308,456
96$11,051,779$0$0$5,773,270
97$12,019,905$0$0$6,283,080
98$13,081,766$0$0$6,842,400
99$14,246,765$0$0$7,456,203
100$15,525,260$0$0$8,129,963