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%14.3%
1 years$75,808$75,132$74,474$73,830$73,203$71,901
2 years$37,529$36,830$36,152$35,495$34,858$33,552
3 years$24,770$24,069$23,393$22,742$22,116$20,844
4 years$18,393$17,693$17,024$16,385$15,773$14,547
5 years$14,567$13,871$13,211$12,585$11,990$10,813
6 years$12,017$11,327$10,677$10,064$9,488$8,360
7 years$10,197$9,512$8,872$8,274$7,716$6,639
8 years$8,832$8,154$7,525$6,941$6,401$5,374
9 years$7,771$7,099$6,481$5,912$5,391$4,413
10 years$6,923$6,258$5,650$5,096$4,593$3,664
11 years$6,230$5,571$4,974$4,435$3,950$3,069
12 years$5,652$5,000$4,415$3,890$3,423$2,588
13 years$5,164$4,519$3,944$3,435$2,985$2,195
14 years$4,746$4,107$3,544$3,049$2,617$1,871
15 years$4,384$3,752$3,200$2,719$2,304$1,600
16 years$4,067$3,443$2,901$2,435$2,036$1,373
17 years$3,788$3,170$2,640$2,188$1,805$1,182
18 years$3,540$2,930$2,410$1,971$1,605$1,019
19 years$3,319$2,715$2,206$1,781$1,431$881
20 years$3,120$2,523$2,025$1,613$1,278$762
21 years$2,940$2,350$1,862$1,464$1,144$661
22 years$2,777$2,194$1,716$1,331$1,025$574
23 years$2,628$2,052$1,585$1,212$920$498
24 years$2,492$1,922$1,466$1,106$827$433
25 years$2,367$1,804$1,357$1,010$744$377
26 years$2,251$1,696$1,259$923$670$328
27 years$2,145$1,596$1,169$845$604$286
28 years$2,046$1,504$1,087$774$545$250
29 years$1,954$1,418$1,011$710$493$218
30 years$1,869$1,340$942$652$445$190
31 years$1,789$1,266$878$599$402$166
32 years$1,714$1,198$819$550$364$145
33 years$1,644$1,135$765$506$329$126
34 years$1,578$1,076$715$465$298$110
35 years$1,516$1,020$668$428$270$96
36 years$1,458$968$625$395$245$84
37 years$1,403$920$585$364$222$74
38 years$1,351$874$548$335$201$64
39 years$1,302$831$513$309$182$56
40 years$1,255$791$481$285$165$49
41 years$1,211$753$451$263$150$43
42 years$1,169$717$423$243$136$38
43 years$1,129$683$397$224$124$33
44 years$1,091$651$373$207$112$29
45 years$1,054$621$350$191$102$25
46 years$1,020$592$329$176$92$22
47 years$987$565$309$163$84$19
48 years$955$539$290$151$76$17
49 years$925$515$273$139$69$15
50 years$896$492$257$129$63$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $918,000, adding $3,040 every year, while hoping to spend $58,472 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: 69/20/11 Blend
59$918,000$918,000$918,000$918,000
60$1,014,772$966,118$951,889$1,082,256
61$1,056,065$951,244$921,563$1,112,567
62$1,099,610$933,681$888,262$1,138,372
63$1,145,575$913,237$851,824$1,165,060
64$1,194,144$889,705$812,080$1,192,711
65$1,245,515$862,870$768,854$1,221,409
66$1,299,908$832,501$721,961$1,251,252
67$1,357,561$798,356$671,209$1,282,348
68$1,418,734$760,176$616,396$1,314,819
69$1,483,711$717,692$557,311$1,348,801
70$1,552,805$670,614$493,736$1,384,444
71$1,626,355$618,638$425,441$1,421,919
72$1,704,736$561,443$352,185$1,461,415
73$1,788,354$498,689$273,719$1,503,141
74$1,877,658$430,017$189,780$1,547,335
75$1,973,139$355,047$100,097$1,594,258
76$2,075,333$273,379$4,384$1,644,203
77$2,184,830$184,587$0$1,697,495
78$2,302,277$88,227$0$1,765,972
79$2,428,384$0$0$1,839,858
80$2,563,928$0$0$1,922,686
81$2,709,765$0$0$2,032,731
82$2,866,834$0$0$2,151,290
83$3,036,165$0$0$2,279,145
84$3,218,890$0$0$2,417,157
85$3,416,254$0$0$2,566,270
86$3,629,624$0$0$2,727,524
87$3,860,502$0$0$2,902,059
88$4,110,541$0$0$3,091,132
89$4,381,555$0$0$3,296,121
90$4,675,544$0$0$3,518,545
91$4,994,701$0$0$3,760,071
92$5,341,444$0$0$4,022,537
93$5,718,429$0$0$4,307,960
94$6,128,579$0$0$4,618,563
95$6,575,111$0$0$4,956,791
96$7,061,564$0$0$5,325,332
97$7,591,832$0$0$5,727,147
98$8,170,203$0$0$6,165,494
99$8,801,393$0$0$6,643,959
100$9,490,596$0$0$7,166,490