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%16.8%
1 years$74,899$74,232$73,581$72,946$72,325$70,320
2 years$37,079$36,388$35,719$35,070$34,441$32,436
3 years$24,474$23,780$23,113$22,470$21,851$19,908
4 years$18,172$17,481$16,820$16,188$15,584$13,719
5 years$14,393$13,705$13,053$12,434$11,847$10,065
6 years$11,873$11,191$10,549$9,944$9,374$7,676
7 years$10,075$9,398$8,766$8,175$7,624$6,011
8 years$8,726$8,056$7,434$6,858$6,324$4,795
9 years$7,678$7,014$6,403$5,841$5,326$3,879
10 years$6,840$6,183$5,582$5,035$4,538$3,171
11 years$6,155$5,504$4,915$4,382$3,903$2,614
12 years$5,584$4,940$4,362$3,844$3,382$2,169
13 years$5,102$4,465$3,897$3,394$2,949$1,809
14 years$4,689$4,058$3,501$3,012$2,585$1,516
15 years$4,331$3,707$3,161$2,687$2,276$1,274
16 years$4,018$3,401$2,866$2,406$2,012$1,074
17 years$3,743$3,132$2,608$2,161$1,784$908
18 years$3,498$2,895$2,381$1,948$1,586$769
19 years$3,279$2,683$2,180$1,760$1,414$652
20 years$3,083$2,493$2,000$1,594$1,263$554
21 years$2,905$2,322$1,840$1,447$1,130$471
22 years$2,744$2,167$1,696$1,315$1,013$401
23 years$2,597$2,027$1,566$1,198$909$342
24 years$2,462$1,899$1,448$1,093$817$291
25 years$2,338$1,782$1,341$998$735$249
26 years$2,224$1,675$1,244$912$662$212
27 years$2,119$1,577$1,155$835$597$181
28 years$2,022$1,486$1,074$765$539$155
29 years$1,931$1,401$999$702$487$132
30 years$1,846$1,324$931$644$440$113
31 years$1,767$1,251$868$591$398$97
32 years$1,694$1,184$810$544$360$83
33 years$1,624$1,121$756$500$325$71
34 years$1,559$1,063$706$460$295$60
35 years$1,498$1,008$660$423$267$52
36 years$1,441$957$618$390$242$44
37 years$1,386$909$578$359$219$38
38 years$1,335$863$541$331$199$32
39 years$1,286$821$507$305$180$28
40 years$1,240$781$475$282$163$24
41 years$1,196$744$446$260$148$20
42 years$1,155$708$418$240$135$17
43 years$1,115$675$392$221$122$15
44 years$1,078$643$368$204$111$13
45 years$1,042$613$346$189$101$11
46 years$1,008$585$325$174$91$9
47 years$975$558$305$161$83$8
48 years$944$533$287$149$75$7
49 years$914$509$270$138$68$6
50 years$886$486$253$127$62$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $907,000, adding $5,421 every year, while hoping to spend $38,549 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: 50/45/5 Blend
59$907,000$907,000$907,000$907,000
60$1,005,106$957,035$942,976$1,053,892
61$1,066,611$962,914$933,550$1,093,552
62$1,133,097$967,789$922,516$1,132,014
63$1,205,033$971,570$909,780$1,172,876
64$1,282,931$974,161$895,242$1,216,373
65$1,367,356$975,462$878,800$1,262,762
66$1,458,931$975,364$860,344$1,312,329
67$1,558,337$973,752$839,761$1,365,390
68$1,666,327$970,505$816,932$1,422,296
69$1,783,726$965,494$791,733$1,483,435
70$1,911,444$958,581$764,034$1,549,237
71$2,050,482$949,622$733,700$1,620,178
72$2,201,939$938,462$700,587$1,696,783
73$2,367,028$924,937$664,547$1,779,636
74$2,547,082$908,876$625,426$1,869,382
75$2,743,567$890,094$583,061$1,966,735
76$2,958,099$868,397$537,282$2,072,484
77$3,192,456$843,579$487,912$2,187,502
78$3,448,596$815,424$434,766$2,312,756
79$3,728,673$783,699$377,651$2,449,315
80$4,035,059$748,163$316,364$2,598,361
81$4,370,368$708,556$250,696$2,761,201
82$4,737,477$664,606$180,425$2,939,279
83$5,139,552$616,024$105,321$3,134,193
84$5,580,083$562,506$25,146$3,347,710
85$6,062,911$503,728$0$3,581,782
86$6,592,268$439,351$0$3,841,788
87$7,172,814$369,014$0$4,128,531
88$7,809,682$292,336$0$4,443,316
89$8,508,525$208,917$0$4,789,070
90$9,275,572$118,331$0$5,169,022
91$10,117,681$20,130$0$5,586,742
92$11,042,410$0$0$6,046,170
93$12,058,082$0$0$6,594,320
94$13,173,867$0$0$7,207,552
95$14,399,866$0$0$7,881,463
96$15,747,209$0$0$8,622,184
97$17,228,155$0$0$9,436,468
98$18,856,212$0$0$10,331,755
99$20,646,260$0$0$11,316,244
100$22,614,695$0$0$12,398,967