Can I retire at age 60 with 912,000?

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 $912,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$75,312$74,641$73,987$73,348$72,724$70,880
2 years$37,283$36,589$35,916$35,263$34,631$32,784
3 years$24,609$23,911$23,240$22,594$21,971$20,181
4 years$18,273$17,577$16,913$16,277$15,670$13,949
5 years$14,472$13,781$13,125$12,503$11,912$10,266
6 years$11,939$11,253$10,607$9,998$9,426$7,856
7 years$10,130$9,450$8,814$8,220$7,666$6,172
8 years$8,775$8,101$7,475$6,896$6,359$4,941
9 years$7,721$7,053$6,438$5,874$5,355$4,012
10 years$6,878$6,217$5,613$5,063$4,563$3,292
11 years$6,189$5,535$4,942$4,406$3,924$2,724
12 years$5,615$4,968$4,386$3,865$3,401$2,269
13 years$5,130$4,489$3,918$3,412$2,966$1,901
14 years$4,715$4,081$3,521$3,029$2,600$1,599
15 years$4,355$3,728$3,179$2,701$2,289$1,350
16 years$4,041$3,420$2,882$2,419$2,023$1,143
17 years$3,763$3,150$2,622$2,173$1,794$970
18 years$3,517$2,911$2,394$1,959$1,595$825
19 years$3,297$2,697$2,192$1,770$1,422$703
20 years$3,100$2,507$2,011$1,603$1,270$600
21 years$2,921$2,335$1,850$1,455$1,136$512
22 years$2,759$2,179$1,705$1,323$1,019$438
23 years$2,611$2,038$1,574$1,205$914$375
24 years$2,476$1,910$1,456$1,099$822$321
25 years$2,351$1,792$1,349$1,003$739$276
26 years$2,237$1,684$1,251$917$666$236
27 years$2,131$1,585$1,161$840$601$203
28 years$2,033$1,494$1,080$769$542$174
29 years$1,941$1,409$1,005$705$489$150
30 years$1,856$1,331$936$647$442$128
31 years$1,777$1,258$872$595$400$110
32 years$1,703$1,190$814$547$362$95
33 years$1,633$1,127$760$503$327$82
34 years$1,568$1,068$710$462$296$70
35 years$1,506$1,013$664$426$268$60
36 years$1,448$962$621$392$243$52
37 years$1,394$914$581$361$220$45
38 years$1,342$868$544$333$200$38
39 years$1,293$826$510$307$181$33
40 years$1,247$785$478$283$164$28
41 years$1,203$748$448$261$149$24
42 years$1,161$712$420$241$135$21
43 years$1,121$678$395$223$123$18
44 years$1,084$647$370$205$111$16
45 years$1,048$617$348$190$101$13
46 years$1,013$588$327$175$92$12
47 years$980$561$307$162$83$10
48 years$949$536$288$150$76$9
49 years$919$512$271$138$69$7
50 years$890$489$255$128$62$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $912,000, adding $5,938 every year, while hoping to spend $50,258 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: 39/47/14 Blend
59$912,000$912,000$912,000$912,000
60$1,011,149$962,813$948,677$1,046,118
61$1,060,812$956,517$926,984$1,065,242
62$1,113,856$948,228$902,879$1,080,579
63$1,170,574$937,795$876,229$1,096,072
64$1,231,284$925,058$846,895$1,111,761
65$1,296,338$909,849$814,729$1,127,692
66$1,366,121$891,988$779,578$1,143,920
67$1,441,054$871,284$741,283$1,160,510
68$1,521,602$847,538$699,677$1,177,536
69$1,608,272$820,534$654,583$1,195,089
70$1,701,625$790,049$605,820$1,213,270
71$1,802,272$755,843$553,197$1,232,198
72$1,910,889$717,664$496,514$1,252,010
73$2,028,215$675,246$435,563$1,272,861
74$2,155,065$628,304$370,126$1,294,932
75$2,292,332$576,542$299,976$1,318,427
76$2,441,001$519,643$224,875$1,343,578
77$2,602,151$457,274$144,577$1,370,650
78$2,776,972$389,082$58,822$1,399,942
79$2,966,771$314,695$0$1,431,795
80$3,172,985$233,719$0$1,471,475
81$3,397,197$145,738$0$1,524,226
82$3,641,147$50,315$0$1,581,782
83$3,906,749$0$0$1,644,738
84$4,196,109$0$0$1,741,177
85$4,511,547$0$0$1,874,785
86$4,855,613$0$0$2,020,636
87$5,231,117$0$0$2,179,935
88$5,641,149$0$0$2,354,007
89$6,089,113$0$0$2,544,314
90$6,578,756$0$0$2,752,464
91$7,114,201$0$0$2,980,226
92$7,699,991$0$0$3,229,552
93$8,341,125$0$0$3,502,586
94$9,043,111$0$0$3,801,695
95$9,812,013$0$0$4,129,480
96$10,654,507$0$0$4,488,810
97$11,577,948$0$0$4,882,843
98$12,590,435$0$0$5,315,056
99$13,700,889$0$0$5,789,281
100$14,919,136$0$0$6,309,738