Can I retire at age 60 with 908,000?

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 $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%13.8%
1 years$74,982$74,314$73,662$73,026$72,405$71,264
2 years$37,120$36,428$35,758$35,109$34,479$33,332
3 years$24,501$23,806$23,138$22,495$21,875$20,758
4 years$18,192$17,500$16,839$16,206$15,601$14,524
5 years$14,408$13,720$13,067$12,448$11,860$10,824
6 years$11,887$11,204$10,560$9,955$9,384$8,391
7 years$10,086$9,409$8,776$8,184$7,632$6,682
8 years$8,736$8,065$7,443$6,866$6,331$5,425
9 years$7,687$7,022$6,410$5,848$5,332$4,468
10 years$6,848$6,190$5,589$5,041$4,543$3,721
11 years$6,162$5,510$4,920$4,387$3,907$3,127
12 years$5,591$4,946$4,366$3,848$3,386$2,645
13 years$5,108$4,470$3,901$3,397$2,953$2,251
14 years$4,694$4,063$3,505$3,016$2,588$1,925
15 years$4,336$3,711$3,165$2,690$2,279$1,652
16 years$4,023$3,405$2,869$2,408$2,014$1,423
17 years$3,747$3,136$2,611$2,164$1,786$1,229
18 years$3,502$2,898$2,383$1,950$1,588$1,064
19 years$3,283$2,686$2,182$1,762$1,415$923
20 years$3,086$2,496$2,002$1,596$1,264$802
21 years$2,908$2,325$1,842$1,448$1,131$697
22 years$2,747$2,170$1,698$1,317$1,014$608
23 years$2,599$2,029$1,567$1,199$910$530
24 years$2,465$1,901$1,450$1,094$818$463
25 years$2,341$1,784$1,343$999$736$404
26 years$2,227$1,677$1,245$913$663$354
27 years$2,121$1,578$1,156$836$598$309
28 years$2,024$1,487$1,075$766$539$271
29 years$1,933$1,403$1,000$702$487$237
30 years$1,848$1,325$932$645$440$208
31 years$1,769$1,253$869$592$398$182
32 years$1,695$1,185$810$544$360$160
33 years$1,626$1,122$757$500$326$140
34 years$1,561$1,064$707$460$295$123
35 years$1,500$1,009$661$424$267$108
36 years$1,442$958$618$390$242$95
37 years$1,388$910$579$360$219$83
38 years$1,336$864$542$331$199$73
39 years$1,288$822$508$306$180$64
40 years$1,241$782$476$282$164$56
41 years$1,198$744$446$260$148$49
42 years$1,156$709$419$240$135$43
43 years$1,116$676$393$222$122$38
44 years$1,079$644$369$205$111$33
45 years$1,043$614$346$189$101$29
46 years$1,009$586$325$175$91$26
47 years$976$559$306$161$83$23
48 years$945$534$287$149$75$20
49 years$915$510$270$138$68$17
50 years$887$487$254$127$62$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $908,000, adding $2,232 every year, while hoping to spend $55,175 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: 86/7/7 Blend
59$908,000$908,000$908,000$908,000
60$1,002,918$954,794$940,720$1,088,437
61$1,046,510$942,873$913,529$1,132,612
62$1,092,699$928,519$883,577$1,173,338
63$1,141,692$911,554$850,714$1,216,325
64$1,193,715$891,790$814,783$1,261,761
65$1,249,014$869,028$775,619$1,309,854
66$1,307,860$843,058$733,049$1,360,833
67$1,370,549$813,655$686,893$1,414,948
68$1,437,406$780,584$636,964$1,472,477
69$1,508,783$743,595$583,065$1,533,723
70$1,585,072$702,424$524,990$1,599,020
71$1,666,697$656,791$462,525$1,668,736
72$1,754,126$606,399$395,446$1,743,277
73$1,847,872$550,938$323,519$1,823,089
74$1,948,497$490,076$246,499$1,908,663
75$2,056,619$423,465$164,131$2,000,541
76$2,172,913$350,734$76,149$2,099,317
77$2,298,126$271,495$0$2,205,649
78$2,433,073$185,337$0$2,321,584
79$2,578,651$91,823$0$2,452,751
80$2,735,846$0$0$2,594,357
81$2,905,742$0$0$2,748,123
82$3,089,529$0$0$2,922,122
83$3,288,515$0$0$3,110,519
84$3,504,139$0$0$3,314,679
85$3,737,983$0$0$3,536,100
86$3,991,786$0$0$3,776,431
87$4,267,462$0$0$4,037,485
88$4,567,114$0$0$4,321,255
89$4,893,060$0$0$4,629,936
90$5,247,844$0$0$4,965,943
91$5,634,271$0$0$5,331,930
92$6,055,425$0$0$5,730,820
93$6,514,700$0$0$6,165,831
94$7,015,832$0$0$6,640,503
95$7,562,933$0$0$7,158,733
96$8,160,531$0$0$7,724,811
97$8,813,608$0$0$8,343,459
98$9,527,651$0$0$9,019,876
99$10,308,700$0$0$9,759,788
100$11,163,408$0$0$10,569,497