Can I retire at age 60 with 921,000?

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 $921,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$76,055$75,378$74,717$74,072$73,442$70,500
2 years$37,651$36,950$36,270$35,611$34,972$32,046
3 years$24,851$24,147$23,469$22,817$22,188$19,368
4 years$18,453$17,751$17,080$16,438$15,825$13,133
5 years$14,615$13,917$13,255$12,626$12,030$9,474
6 years$12,057$11,364$10,712$10,097$9,519$7,100
7 years$10,230$9,544$8,901$8,301$7,741$5,458
8 years$8,861$8,181$7,549$6,964$6,422$4,273
9 years$7,797$7,123$6,502$5,932$5,408$3,390
10 years$6,946$6,278$5,669$5,113$4,608$2,716
11 years$6,250$5,589$4,991$4,450$3,963$2,193
12 years$5,671$5,017$4,429$3,903$3,434$1,781
13 years$5,181$4,534$3,957$3,446$2,995$1,454
14 years$4,761$4,121$3,555$3,059$2,625$1,191
15 years$4,398$3,764$3,210$2,728$2,311$979
16 years$4,080$3,454$2,910$2,443$2,043$806
17 years$3,800$3,181$2,648$2,195$1,811$666
18 years$3,552$2,939$2,418$1,978$1,611$550
19 years$3,330$2,724$2,213$1,787$1,436$456
20 years$3,130$2,531$2,031$1,619$1,282$378
21 years$2,950$2,358$1,868$1,469$1,147$313
22 years$2,786$2,201$1,722$1,336$1,029$260
23 years$2,637$2,058$1,590$1,216$923$216
24 years$2,500$1,929$1,470$1,109$830$180
25 years$2,374$1,810$1,362$1,013$747$149
26 years$2,259$1,701$1,263$926$673$124
27 years$2,152$1,601$1,173$848$606$103
28 years$2,053$1,509$1,090$777$547$86
29 years$1,961$1,423$1,015$712$494$72
30 years$1,875$1,344$945$654$446$60
31 years$1,795$1,271$881$601$404$50
32 years$1,720$1,202$822$552$365$41
33 years$1,649$1,138$768$508$330$34
34 years$1,583$1,079$717$467$299$29
35 years$1,521$1,023$670$430$271$24
36 years$1,463$971$627$396$246$20
37 years$1,408$923$587$365$223$17
38 years$1,355$877$550$336$202$14
39 years$1,306$834$515$310$183$12
40 years$1,259$793$483$286$166$10
41 years$1,215$755$453$264$151$8
42 years$1,173$719$425$243$137$7
43 years$1,132$685$398$225$124$6
44 years$1,094$653$374$208$113$5
45 years$1,058$623$351$192$102$4
46 years$1,023$594$330$177$93$3
47 years$990$567$310$164$84$3
48 years$958$541$291$151$76$2
49 years$928$517$274$140$69$2
50 years$899$494$257$129$63$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $921,000, adding $6,702 every year, while hoping to spend $35,544 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: 69/24/7 Blend
59$921,000$921,000$921,000$921,000
60$1,021,855$973,042$958,767$1,090,749
61$1,088,266$982,903$953,067$1,147,096
62$1,160,259$992,055$945,985$1,203,731
63$1,238,367$1,000,427$937,437$1,264,715
64$1,323,174$1,007,942$927,334$1,330,469
65$1,415,324$1,014,517$915,587$1,401,454
66$1,515,525$1,020,067$902,097$1,478,180
67$1,624,555$1,024,496$886,763$1,561,208
68$1,743,272$1,027,709$869,482$1,651,157
69$1,872,617$1,029,598$850,141$1,748,710
70$2,013,629$1,030,053$828,626$1,854,620
71$2,167,449$1,028,956$804,815$1,969,716
72$2,335,334$1,026,180$778,581$2,094,913
73$2,518,668$1,021,593$749,794$2,231,221
74$2,718,974$1,015,052$718,313$2,379,751
75$2,937,928$1,006,409$683,996$2,541,731
76$3,177,377$995,502$646,689$2,718,514
77$3,439,352$982,165$606,236$2,911,590
78$3,726,092$966,217$562,471$3,122,605
79$4,040,061$947,469$515,221$3,353,374
80$4,383,973$925,721$464,307$3,605,894
81$4,760,816$900,759$409,539$3,882,374
82$5,173,882$872,360$350,722$4,185,243
83$5,626,797$840,284$287,650$4,517,185
84$6,123,551$804,279$220,107$4,881,155
85$6,668,544$764,079$147,871$5,280,415
86$7,266,618$719,401$70,707$5,718,560
87$7,923,109$669,948$0$6,199,554
88$8,643,893$615,403$0$6,728,638
89$9,435,446$555,433$0$7,315,454
90$10,304,898$489,685$0$7,960,050
91$11,260,105$417,788$0$8,668,305
92$12,309,724$339,347$0$9,446,703
93$13,463,287$253,947$0$10,302,387
94$14,731,301$161,149$0$11,243,235
95$16,125,336$60,488$0$12,277,929
96$17,658,144$0$0$13,416,042
97$19,343,770$0$0$14,680,939
98$21,197,692$0$0$16,089,752
99$23,236,962$0$0$17,639,473
100$25,480,365$0$0$19,344,384