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%16.8%
1 years$75,973$75,296$74,636$73,991$73,362$71,328
2 years$37,610$36,910$36,231$35,573$34,934$32,901
3 years$24,824$24,121$23,444$22,792$22,164$20,194
4 years$18,433$17,731$17,061$16,420$15,807$13,916
5 years$14,599$13,902$13,240$12,612$12,017$10,209
6 years$12,044$11,352$10,700$10,086$9,508$7,786
7 years$10,219$9,533$8,892$8,292$7,733$6,097
8 years$8,852$8,172$7,541$6,956$6,415$4,864
9 years$7,788$7,115$6,495$5,925$5,402$3,935
10 years$6,938$6,271$5,662$5,108$4,603$3,217
11 years$6,243$5,583$4,985$4,445$3,959$2,652
12 years$5,664$5,011$4,424$3,899$3,431$2,200
13 years$5,175$4,529$3,953$3,442$2,992$1,835
14 years$4,756$4,116$3,552$3,056$2,622$1,537
15 years$4,393$3,760$3,207$2,725$2,309$1,292
16 years$4,076$3,450$2,907$2,440$2,041$1,090
17 years$3,796$3,177$2,645$2,192$1,809$921
18 years$3,548$2,936$2,415$1,976$1,609$780
19 years$3,326$2,721$2,211$1,785$1,434$661
20 years$3,127$2,529$2,029$1,617$1,281$562
21 years$2,947$2,355$1,866$1,467$1,146$478
22 years$2,783$2,199$1,720$1,334$1,027$407
23 years$2,634$2,056$1,588$1,215$922$347
24 years$2,497$1,927$1,469$1,108$829$295
25 years$2,372$1,808$1,360$1,012$746$252
26 years$2,256$1,699$1,262$925$672$215
27 years$2,150$1,599$1,172$847$606$184
28 years$2,050$1,507$1,089$776$547$157
29 years$1,958$1,422$1,014$712$494$134
30 years$1,873$1,343$944$653$446$115
31 years$1,793$1,269$880$600$403$98
32 years$1,718$1,201$821$551$365$84
33 years$1,648$1,137$767$507$330$72
34 years$1,582$1,078$716$466$299$61
35 years$1,520$1,022$670$429$271$52
36 years$1,461$970$627$395$245$45
37 years$1,406$922$586$364$222$38
38 years$1,354$876$549$336$202$33
39 years$1,305$833$515$310$183$28
40 years$1,258$792$482$286$166$24
41 years$1,213$754$452$264$150$21
42 years$1,171$718$424$243$136$18
43 years$1,131$684$398$224$124$15
44 years$1,093$652$374$207$112$13
45 years$1,057$622$351$191$102$11
46 years$1,022$593$330$177$93$9
47 years$989$566$310$163$84$8
48 years$957$541$291$151$76$7
49 years$927$516$273$140$69$6
50 years$898$493$257$129$63$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $920,000, adding $5,080 every year, while hoping to spend $26,718 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: 49/32/19 Blend
59$920,000$920,000$920,000$920,000
60$1,019,080$970,320$956,060$1,063,359
61$1,094,598$989,438$959,660$1,113,687
62$1,176,924$1,008,597$962,486$1,165,192
63$1,266,724$1,027,772$964,482$1,220,577
64$1,364,730$1,046,933$965,593$1,280,217
65$1,471,750$1,066,050$965,757$1,344,526
66$1,588,672$1,085,090$964,914$1,413,960
67$1,716,475$1,104,018$962,997$1,489,024
68$1,856,235$1,122,794$959,937$1,570,271
69$2,009,137$1,141,378$955,661$1,658,314
70$2,176,489$1,159,725$950,095$1,753,829
71$2,359,726$1,177,787$943,159$1,857,560
72$2,560,432$1,195,512$934,769$1,970,328
73$2,780,351$1,212,847$924,839$2,093,039
74$3,021,403$1,229,732$913,276$2,226,693
75$3,285,701$1,246,105$899,987$2,372,392
76$3,575,576$1,261,897$884,869$2,531,351
77$3,893,592$1,277,037$867,820$2,704,910
78$4,242,574$1,291,448$848,728$2,894,548
79$4,625,636$1,305,049$827,480$3,101,896
80$5,046,205$1,317,750$803,954$3,328,752
81$5,508,058$1,329,460$778,027$3,577,099
82$6,015,355$1,340,078$749,566$3,849,125
83$6,572,679$1,349,500$718,433$4,147,241
84$7,185,078$1,357,611$684,487$4,474,109
85$7,858,114$1,364,292$647,575$4,832,661
86$8,597,915$1,369,416$607,542$5,226,133
87$9,411,231$1,372,846$564,224$5,658,093
88$10,305,500$1,374,439$517,449$6,132,474
89$11,288,915$1,374,041$467,038$6,653,616
90$12,370,505$1,371,489$412,804$7,226,300
91$13,560,216$1,366,611$354,552$7,855,803
92$14,869,006$1,359,224$292,078$8,547,939
93$16,308,952$1,349,132$225,169$9,309,124
94$17,893,356$1,336,131$153,603$10,146,427
95$19,636,877$1,320,000$77,148$11,067,645
96$21,555,666$1,300,508$0$12,081,374
97$23,667,521$1,277,410$0$13,197,994
98$25,992,051$1,250,445$0$14,443,801
99$28,550,861$1,219,338$0$15,814,715
100$31,367,760$1,183,797$0$17,323,492