Can I retire at age 60 with 912,000?

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 $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%19.3%
1 years$75,312$74,641$73,987$73,348$72,724$70,005
2 years$37,283$36,589$35,916$35,263$34,631$31,922
3 years$24,609$23,911$23,240$22,594$21,971$19,358
4 years$18,273$17,577$16,913$16,277$15,670$13,173
5 years$14,472$13,781$13,125$12,503$11,912$9,538
6 years$11,939$11,253$10,607$9,998$9,426$7,175
7 years$10,130$9,450$8,814$8,220$7,666$5,539
8 years$8,775$8,101$7,475$6,896$6,359$4,354
9 years$7,721$7,053$6,438$5,874$5,355$3,469
10 years$6,878$6,217$5,613$5,063$4,563$2,792
11 years$6,189$5,535$4,942$4,406$3,924$2,264
12 years$5,615$4,968$4,386$3,865$3,401$1,848
13 years$5,130$4,489$3,918$3,412$2,966$1,515
14 years$4,715$4,081$3,521$3,029$2,600$1,248
15 years$4,355$3,728$3,179$2,701$2,289$1,030
16 years$4,041$3,420$2,882$2,419$2,023$853
17 years$3,763$3,150$2,622$2,173$1,794$708
18 years$3,517$2,911$2,394$1,959$1,595$588
19 years$3,297$2,697$2,192$1,770$1,422$490
20 years$3,100$2,507$2,011$1,603$1,270$408
21 years$2,921$2,335$1,850$1,455$1,136$340
22 years$2,759$2,179$1,705$1,323$1,019$284
23 years$2,611$2,038$1,574$1,205$914$237
24 years$2,476$1,910$1,456$1,099$822$198
25 years$2,351$1,792$1,349$1,003$739$166
26 years$2,237$1,684$1,251$917$666$139
27 years$2,131$1,585$1,161$840$601$116
28 years$2,033$1,494$1,080$769$542$97
29 years$1,941$1,409$1,005$705$489$81
30 years$1,856$1,331$936$647$442$68
31 years$1,777$1,258$872$595$400$57
32 years$1,703$1,190$814$547$362$48
33 years$1,633$1,127$760$503$327$40
34 years$1,568$1,068$710$462$296$34
35 years$1,506$1,013$664$426$268$28
36 years$1,448$962$621$392$243$24
37 years$1,394$914$581$361$220$20
38 years$1,342$868$544$333$200$17
39 years$1,293$826$510$307$181$14
40 years$1,247$785$478$283$164$12
41 years$1,203$748$448$261$149$10
42 years$1,161$712$420$241$135$8
43 years$1,121$678$395$223$123$7
44 years$1,084$647$370$205$111$6
45 years$1,048$617$348$190$101$5
46 years$1,013$588$327$175$92$4
47 years$980$561$307$162$83$3
48 years$949$536$288$150$76$3
49 years$919$512$271$138$69$2
50 years$890$489$255$128$62$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $912,000, adding $6,339 every year, while hoping to spend $20,949 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: 80/14/6 Blend
59$912,000$912,000$912,000$912,000
60$1,011,563$963,227$949,091$1,091,515
61$1,092,452$988,135$958,596$1,169,683
62$1,180,891$1,013,562$967,717$1,252,013
63$1,277,626$1,039,511$976,419$1,341,711
64$1,383,481$1,065,984$984,667$1,439,499
65$1,499,362$1,092,983$992,419$1,546,176
66$1,626,269$1,120,511$999,637$1,662,619
67$1,765,300$1,148,568$1,006,276$1,789,795
68$1,917,666$1,177,154$1,012,293$1,928,769
69$2,084,702$1,206,268$1,017,638$2,080,714
70$2,267,875$1,235,909$1,022,263$2,246,921
71$2,468,804$1,266,074$1,026,114$2,428,812
72$2,689,270$1,296,760$1,029,137$2,627,956
73$2,931,236$1,327,961$1,031,274$2,846,077
74$3,196,864$1,359,673$1,032,463$3,085,078
75$3,488,536$1,391,888$1,032,642$3,347,053
76$3,808,873$1,424,598$1,031,742$3,634,309
77$4,160,768$1,457,793$1,029,695$3,949,388
78$4,547,402$1,491,460$1,026,426$4,295,091
79$4,972,283$1,525,588$1,021,857$4,674,502
80$5,439,276$1,560,161$1,015,909$5,091,022
81$5,952,635$1,595,163$1,008,496$5,548,395
82$6,517,052$1,630,574$999,528$6,050,748
83$7,137,693$1,666,374$988,914$6,602,626
84$7,820,250$1,702,538$976,555$7,209,039
85$8,570,995$1,739,042$962,349$7,875,505
86$9,396,838$1,775,856$946,189$8,608,106
87$10,305,392$1,812,950$927,963$9,413,543
88$11,305,046$1,850,289$907,554$10,299,199
89$12,405,043$1,887,835$884,839$11,273,208
90$13,615,567$1,925,548$859,690$12,344,536
91$14,947,837$1,963,383$831,973$13,523,060
92$16,414,220$2,001,292$801,547$14,819,664
93$18,028,336$2,039,222$768,265$16,246,342
94$19,805,199$2,077,116$731,974$17,816,310
95$21,761,348$2,114,913$692,514$19,544,131
96$23,915,008$2,152,546$649,716$21,445,854
97$26,286,263$2,189,945$603,405$23,539,161
98$28,897,241$2,227,032$553,399$25,843,539
99$31,772,327$2,263,724$499,505$28,380,462
100$34,938,391$2,299,933$441,525$31,173,592