Can I retire at age 60 with 920,000?

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 $920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$75,973$75,296$74,636$73,991$73,362$71,881
2 years$37,610$36,910$36,231$35,573$34,934$33,449
3 years$24,824$24,121$23,444$22,792$22,164$20,720
4 years$18,433$17,731$17,061$16,420$15,807$14,416
5 years$14,599$13,902$13,240$12,612$12,017$10,682
6 years$12,044$11,352$10,700$10,086$9,508$8,232
7 years$10,219$9,533$8,892$8,292$7,733$6,515
8 years$8,852$8,172$7,541$6,956$6,415$5,256
9 years$7,788$7,115$6,495$5,925$5,402$4,301
10 years$6,938$6,271$5,662$5,108$4,603$3,558
11 years$6,243$5,583$4,985$4,445$3,959$2,968
12 years$5,664$5,011$4,424$3,899$3,431$2,494
13 years$5,175$4,529$3,953$3,442$2,992$2,107
14 years$4,756$4,116$3,552$3,056$2,622$1,788
15 years$4,393$3,760$3,207$2,725$2,309$1,523
16 years$4,076$3,450$2,907$2,440$2,041$1,302
17 years$3,796$3,177$2,645$2,192$1,809$1,115
18 years$3,548$2,936$2,415$1,976$1,609$958
19 years$3,326$2,721$2,211$1,785$1,434$824
20 years$3,127$2,529$2,029$1,617$1,281$710
21 years$2,947$2,355$1,866$1,467$1,146$613
22 years$2,783$2,199$1,720$1,334$1,027$529
23 years$2,634$2,056$1,588$1,215$922$458
24 years$2,497$1,927$1,469$1,108$829$396
25 years$2,372$1,808$1,360$1,012$746$343
26 years$2,256$1,699$1,262$925$672$297
27 years$2,150$1,599$1,172$847$606$258
28 years$2,050$1,507$1,089$776$547$224
29 years$1,958$1,422$1,014$712$494$194
30 years$1,873$1,343$944$653$446$169
31 years$1,793$1,269$880$600$403$146
32 years$1,718$1,201$821$551$365$127
33 years$1,648$1,137$767$507$330$111
34 years$1,582$1,078$716$466$299$96
35 years$1,520$1,022$670$429$271$84
36 years$1,461$970$627$395$245$73
37 years$1,406$922$586$364$222$63
38 years$1,354$876$549$336$202$55
39 years$1,305$833$515$310$183$48
40 years$1,258$792$482$286$166$42
41 years$1,213$754$452$264$150$36
42 years$1,171$718$424$243$136$31
43 years$1,131$684$398$224$124$27
44 years$1,093$652$374$207$112$24
45 years$1,057$622$351$191$102$21
46 years$1,022$593$330$177$93$18
47 years$989$566$310$163$84$16
48 years$957$541$291$151$76$14
49 years$927$516$273$140$69$12
50 years$898$493$257$129$63$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $920,000, adding $5,398 every year, while hoping to spend $22,303 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: 55/24/21 Blend
59$920,000$920,000$920,000$920,000
60$1,019,408$970,648$956,388$1,069,386
61$1,099,657$994,480$964,697$1,128,023
62$1,187,345$1,018,731$972,536$1,189,033
63$1,283,205$1,043,400$979,868$1,254,994
64$1,388,048$1,068,483$986,649$1,326,385
65$1,502,764$1,093,974$992,837$1,403,737
66$1,628,336$1,119,868$998,387$1,487,632
67$1,765,842$1,146,158$1,003,249$1,578,715
68$1,916,474$1,172,836$1,007,374$1,677,692
69$2,081,542$1,199,892$1,010,708$1,785,344
70$2,262,488$1,227,316$1,013,196$1,902,532
71$2,460,903$1,255,096$1,014,779$2,030,202
72$2,678,537$1,283,217$1,015,396$2,169,400
73$2,917,318$1,311,665$1,014,982$2,321,277
74$3,179,371$1,340,422$1,013,470$2,487,099
75$3,467,033$1,369,470$1,010,788$2,668,267
76$3,782,884$1,398,787$1,006,863$2,866,319
77$4,129,761$1,428,351$1,001,616$3,082,955
78$4,510,792$1,458,135$994,965$3,320,044
79$4,929,421$1,488,112$986,825$3,579,651
80$5,389,445$1,518,252$977,106$3,864,048
81$5,895,043$1,548,522$965,714$4,175,740
82$6,450,822$1,578,884$952,550$4,517,489
83$7,061,857$1,609,300$937,512$4,892,338
84$7,733,739$1,639,728$920,491$5,303,643
85$8,472,627$1,670,122$901,374$5,755,100
86$9,285,308$1,700,431$880,043$6,250,785
87$10,179,260$1,730,602$856,375$6,795,190
88$11,162,720$1,760,578$830,239$7,393,265
89$12,244,767$1,790,295$801,501$8,050,467
90$13,435,400$1,819,687$770,019$8,772,811
91$14,745,641$1,848,682$735,645$9,566,925
92$16,187,632$1,877,203$698,224$10,440,116
93$17,774,750$1,905,165$657,594$11,400,436
94$19,521,738$1,932,481$613,587$12,456,762
95$21,444,838$1,959,056$566,025$13,618,877
96$23,561,949$1,984,787$514,724$14,897,563
97$25,892,791$2,009,566$459,492$16,304,703
98$28,459,097$2,033,275$400,125$17,853,396
99$31,284,811$2,055,792$336,416$19,558,080
100$34,396,319$2,076,983$268,143$21,434,664