Can I retire at age 60 with 918,000?

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 $918,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$75,808$75,132$74,474$73,830$73,203$72,589
2 years$37,529$36,830$36,152$35,495$34,858$34,240
3 years$24,770$24,069$23,393$22,742$22,116$21,512
4 years$18,393$17,693$17,024$16,385$15,773$15,188
5 years$14,567$13,871$13,211$12,585$11,990$11,426
6 years$12,017$11,327$10,677$10,064$9,488$8,945
7 years$10,197$9,512$8,872$8,274$7,716$7,195
8 years$8,832$8,154$7,525$6,941$6,401$5,902
9 years$7,771$7,099$6,481$5,912$5,391$4,913
10 years$6,923$6,258$5,650$5,096$4,593$4,136
11 years$6,230$5,571$4,974$4,435$3,950$3,514
12 years$5,652$5,000$4,415$3,890$3,423$3,008
13 years$5,164$4,519$3,944$3,435$2,985$2,590
14 years$4,746$4,107$3,544$3,049$2,617$2,241
15 years$4,384$3,752$3,200$2,719$2,304$1,947
16 years$4,067$3,443$2,901$2,435$2,036$1,698
17 years$3,788$3,170$2,640$2,188$1,805$1,485
18 years$3,540$2,930$2,410$1,971$1,605$1,302
19 years$3,319$2,715$2,206$1,781$1,431$1,144
20 years$3,120$2,523$2,025$1,613$1,278$1,007
21 years$2,940$2,350$1,862$1,464$1,144$888
22 years$2,777$2,194$1,716$1,331$1,025$785
23 years$2,628$2,052$1,585$1,212$920$694
24 years$2,492$1,922$1,466$1,106$827$614
25 years$2,367$1,804$1,357$1,010$744$544
26 years$2,251$1,696$1,259$923$670$483
27 years$2,145$1,596$1,169$845$604$429
28 years$2,046$1,504$1,087$774$545$381
29 years$1,954$1,418$1,011$710$493$338
30 years$1,869$1,340$942$652$445$301
31 years$1,789$1,266$878$599$402$268
32 years$1,714$1,198$819$550$364$238
33 years$1,644$1,135$765$506$329$212
34 years$1,578$1,076$715$465$298$189
35 years$1,516$1,020$668$428$270$168
36 years$1,458$968$625$395$245$150
37 years$1,403$920$585$364$222$134
38 years$1,351$874$548$335$201$119
39 years$1,302$831$513$309$182$106
40 years$1,255$791$481$285$165$95
41 years$1,211$753$451$263$150$84
42 years$1,169$717$423$243$136$75
43 years$1,129$683$397$224$124$67
44 years$1,091$651$373$207$112$60
45 years$1,054$621$350$191$102$53
46 years$1,020$592$329$176$92$48
47 years$987$565$309$163$84$43
48 years$955$539$290$151$76$38
49 years$925$515$273$139$69$34
50 years$896$492$257$129$63$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $918,000, adding $4,138 every year, while hoping to spend $31,777 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: 35/42/23 Blend
59$918,000$918,000$918,000$918,000
60$1,015,904$967,250$953,021$1,044,250
61$1,085,716$980,835$951,137$1,079,150
62$1,161,584$994,021$948,125$1,113,574
63$1,244,091$1,006,753$943,913$1,150,076
64$1,333,881$1,018,977$938,427$1,188,862
65$1,431,661$1,030,631$931,588$1,230,159
66$1,538,208$1,041,650$923,314$1,274,220
67$1,654,380$1,051,965$913,520$1,321,323
68$1,781,118$1,061,503$902,114$1,371,779
69$1,919,461$1,070,185$889,003$1,425,931
70$2,070,549$1,077,928$874,088$1,484,159
71$2,235,641$1,084,641$857,266$1,546,884
72$2,416,119$1,090,232$838,427$1,614,573
73$2,613,509$1,094,599$817,460$1,687,742
74$2,829,486$1,097,634$794,244$1,766,962
75$3,065,900$1,099,224$768,658$1,852,867
76$3,324,784$1,099,248$740,570$1,946,158
77$3,608,378$1,097,577$709,845$2,047,609
78$3,919,149$1,094,075$676,341$2,158,078
79$4,259,814$1,088,597$639,911$2,278,515
80$4,633,366$1,080,989$600,399$2,409,969
81$5,043,101$1,071,088$557,643$2,553,601
82$5,492,648$1,058,722$511,475$2,710,696
83$5,986,006$1,043,708$461,717$2,882,672
84$6,527,579$1,025,850$408,186$3,071,099
85$7,122,220$1,004,944$350,687$3,277,713
86$7,775,271$980,772$289,021$3,504,430
87$8,492,622$953,103$222,976$3,753,370
88$9,280,757$921,692$152,333$4,026,876
89$10,146,821$886,282$76,863$4,327,533
90$11,098,686$846,599$0$4,658,202
91$12,145,023$802,353$0$5,022,943
92$13,295,385$753,239$0$5,444,530
93$14,560,300$698,933$0$5,907,997
94$15,951,362$639,092$0$6,417,666
95$17,481,348$573,355$0$6,978,305
96$19,164,337$501,340$0$7,595,174
97$21,015,836$422,643$0$8,274,077
98$23,052,936$336,837$0$9,021,417
99$25,294,465$243,471$0$9,844,257
100$27,761,168$142,070$0$10,750,388