Can I retire at age 60 with 908,000?

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 $908,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$74,982$74,314$73,662$73,026$72,405$70,598
2 years$37,120$36,428$35,758$35,109$34,479$32,669
3 years$24,501$23,806$23,138$22,495$21,875$20,119
4 years$18,192$17,500$16,839$16,206$15,601$13,914
5 years$14,408$13,720$13,067$12,448$11,860$10,245
6 years$11,887$11,204$10,560$9,955$9,384$7,844
7 years$10,086$9,409$8,776$8,184$7,632$6,166
8 years$8,736$8,065$7,443$6,866$6,331$4,939
9 years$7,687$7,022$6,410$5,848$5,332$4,013
10 years$6,848$6,190$5,589$5,041$4,543$3,295
11 years$6,162$5,510$4,920$4,387$3,907$2,728
12 years$5,591$4,946$4,366$3,848$3,386$2,274
13 years$5,108$4,470$3,901$3,397$2,953$1,906
14 years$4,694$4,063$3,505$3,016$2,588$1,604
15 years$4,336$3,711$3,165$2,690$2,279$1,355
16 years$4,023$3,405$2,869$2,408$2,014$1,148
17 years$3,747$3,136$2,611$2,164$1,786$976
18 years$3,502$2,898$2,383$1,950$1,588$830
19 years$3,283$2,686$2,182$1,762$1,415$708
20 years$3,086$2,496$2,002$1,596$1,264$605
21 years$2,908$2,325$1,842$1,448$1,131$517
22 years$2,747$2,170$1,698$1,317$1,014$442
23 years$2,599$2,029$1,567$1,199$910$379
24 years$2,465$1,901$1,450$1,094$818$325
25 years$2,341$1,784$1,343$999$736$279
26 years$2,227$1,677$1,245$913$663$239
27 years$2,121$1,578$1,156$836$598$206
28 years$2,024$1,487$1,075$766$539$177
29 years$1,933$1,403$1,000$702$487$152
30 years$1,848$1,325$932$645$440$130
31 years$1,769$1,253$869$592$398$112
32 years$1,695$1,185$810$544$360$97
33 years$1,626$1,122$757$500$326$83
34 years$1,561$1,064$707$460$295$71
35 years$1,500$1,009$661$424$267$61
36 years$1,442$958$618$390$242$53
37 years$1,388$910$579$360$219$46
38 years$1,336$864$542$331$199$39
39 years$1,288$822$508$306$180$34
40 years$1,241$782$476$282$164$29
41 years$1,198$744$446$260$148$25
42 years$1,156$709$419$240$135$22
43 years$1,116$676$393$222$122$19
44 years$1,079$644$369$205$111$16
45 years$1,043$614$346$189$101$14
46 years$1,009$586$325$175$91$12
47 years$976$559$306$161$83$10
48 years$945$534$287$149$75$9
49 years$915$510$270$138$68$8
50 years$887$487$254$127$62$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $908,000, adding $4,459 every year, while hoping to spend $43,683 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: 66/16/18 Blend
59$908,000$908,000$908,000$908,000
60$1,005,215$957,091$943,017$1,066,808
61$1,061,269$957,511$928,130$1,109,024
62$1,121,576$956,486$911,280$1,149,699
63$1,186,524$953,901$892,355$1,193,105
64$1,256,539$949,632$871,239$1,239,510
65$1,332,089$943,547$847,808$1,289,210
66$1,413,687$935,506$821,935$1,342,530
67$1,501,899$925,361$793,486$1,399,832
68$1,597,345$912,956$762,320$1,461,515
69$1,700,708$898,124$728,290$1,528,020
70$1,812,737$880,689$691,245$1,599,835
71$1,934,257$860,464$651,023$1,677,500
72$2,066,176$837,252$607,457$1,761,609
73$2,209,492$810,843$560,372$1,852,820
74$2,365,301$781,016$509,586$1,951,862
75$2,534,812$747,536$454,908$2,059,538
76$2,719,353$710,155$396,137$2,176,735
77$2,920,386$668,612$333,067$2,304,433
78$3,139,519$622,628$265,479$2,443,717
79$3,378,524$571,910$193,146$2,595,783
80$3,639,348$516,149$115,831$2,761,952
81$3,924,138$455,016$33,287$2,943,683
82$4,235,253$388,165$0$3,142,588
83$4,575,294$315,230$0$3,370,971
84$4,947,123$235,825$0$3,627,778
85$5,353,891$149,541$0$3,908,833
86$5,799,066$55,948$0$4,216,587
87$6,286,471$0$0$4,553,741
88$6,820,312$0$0$4,931,269
89$7,405,222$0$0$5,355,764
90$8,046,304$0$0$5,821,084
91$8,749,178$0$0$6,331,317
92$9,520,032$0$0$6,890,962
93$10,365,684$0$0$7,504,978
94$11,293,643$0$0$8,178,824
95$12,312,180$0$0$8,918,515
96$13,430,404$0$0$9,730,676
97$14,658,353$0$0$10,622,606
98$16,007,081$0$0$11,602,343
99$17,488,767$0$0$12,678,745
100$19,116,827$0$0$13,861,569