Can I retire at age 60 with 916,000?

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 $916,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$75,642$74,969$74,311$73,670$73,043$71,335
2 years$37,447$36,749$36,073$35,418$34,782$33,072
3 years$24,717$24,016$23,342$22,693$22,067$20,407
4 years$18,353$17,654$16,987$16,349$15,739$14,141
5 years$14,535$13,841$13,183$12,557$11,964$10,435
6 years$11,991$11,302$10,653$10,042$9,467$8,006
7 years$10,175$9,492$8,853$8,256$7,699$6,308
8 years$8,813$8,136$7,508$6,926$6,387$5,065
9 years$7,755$7,084$6,467$5,899$5,379$4,125
10 years$6,908$6,244$5,638$5,085$4,583$3,395
11 years$6,216$5,559$4,963$4,426$3,942$2,819
12 years$5,640$4,989$4,405$3,882$3,416$2,356
13 years$5,153$4,509$3,936$3,427$2,979$1,979
14 years$4,735$4,098$3,536$3,042$2,611$1,671
15 years$4,374$3,744$3,193$2,713$2,299$1,415
16 years$4,058$3,435$2,895$2,429$2,032$1,203
17 years$3,780$3,164$2,634$2,183$1,802$1,025
18 years$3,533$2,923$2,404$1,967$1,602$875
19 years$3,312$2,709$2,201$1,777$1,428$748
20 years$3,113$2,518$2,020$1,610$1,275$641
21 years$2,934$2,345$1,858$1,461$1,141$550
22 years$2,771$2,189$1,713$1,328$1,023$472
23 years$2,622$2,047$1,581$1,210$918$405
24 years$2,486$1,918$1,462$1,103$825$349
25 years$2,362$1,800$1,354$1,008$743$300
26 years$2,247$1,692$1,256$921$669$258
27 years$2,140$1,592$1,166$843$603$223
28 years$2,042$1,500$1,084$773$544$192
29 years$1,950$1,415$1,009$709$491$166
30 years$1,865$1,337$940$650$444$143
31 years$1,785$1,264$876$597$401$123
32 years$1,710$1,196$818$549$363$106
33 years$1,640$1,132$763$505$329$92
34 years$1,575$1,073$713$464$298$79
35 years$1,513$1,018$667$428$270$68
36 years$1,455$966$624$394$244$59
37 years$1,400$918$584$363$221$51
38 years$1,348$872$547$334$201$44
39 years$1,299$829$512$308$182$38
40 years$1,252$789$480$284$165$33
41 years$1,208$751$450$262$150$28
42 years$1,166$715$422$242$136$25
43 years$1,126$681$396$224$123$21
44 years$1,088$650$372$206$112$18
45 years$1,052$619$349$191$102$16
46 years$1,018$591$328$176$92$14
47 years$985$564$308$163$84$12
48 years$953$538$290$150$76$10
49 years$923$514$272$139$69$9
50 years$894$491$256$128$63$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $916,000, adding $3,658 every year, while hoping to spend $50,997 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: 28/43/29 Blend
59$916,000$916,000$916,000$916,000
60$1,013,205$964,657$950,459$1,032,406
61$1,062,292$957,665$928,039$1,041,122
62$1,114,676$948,621$903,159$1,045,851
63$1,170,640$937,371$875,682$1,049,914
64$1,230,494$923,751$845,466$1,053,290
65$1,294,578$907,587$812,362$1,055,963
66$1,363,262$888,697$776,214$1,057,916
67$1,436,957$866,885$736,859$1,059,140
68$1,516,110$841,946$694,128$1,059,629
69$1,601,213$813,661$647,840$1,059,383
70$1,692,806$781,799$597,812$1,058,409
71$1,791,482$746,117$543,849$1,056,721
72$1,897,892$706,356$485,746$1,054,344
73$2,012,751$662,242$423,294$1,051,311
74$2,136,847$613,487$356,269$1,047,669
75$2,271,042$559,785$284,441$1,043,477
76$2,416,287$500,813$207,568$1,038,810
77$2,573,625$436,229$125,398$1,033,760
78$2,744,204$365,674$37,669$1,028,442
79$2,929,287$288,765$0$1,022,989
80$3,130,260$205,101$0$1,034,877
81$3,348,653$114,257$0$1,060,546
82$3,586,142$15,783$0$1,088,643
83$3,844,578$0$0$1,119,524
84$4,125,992$0$0$1,196,551
85$4,432,623$0$0$1,288,753
86$4,766,932$0$0$1,389,420
87$5,131,629$0$0$1,499,385
88$5,529,697$0$0$1,619,566
89$5,964,419$0$0$1,750,973
90$6,439,410$0$0$1,894,720
91$6,958,648$0$0$2,052,031
92$7,526,515$0$0$2,224,255
93$8,147,834$0$0$2,412,879
94$8,827,916$0$0$2,619,536
95$9,572,610$0$0$2,846,031
96$10,388,357$0$0$3,094,345
97$11,282,249$0$0$3,366,665
98$12,262,098$0$0$3,665,398
99$13,336,507$0$0$3,993,194
100$14,514,951$0$0$4,352,975