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%18.5%
1 years$76,055$75,378$74,717$74,072$73,442$70,921
2 years$37,651$36,950$36,270$35,611$34,972$32,458
3 years$24,851$24,147$23,469$22,817$22,188$19,759
4 years$18,453$17,751$17,080$16,438$15,825$13,500
5 years$14,615$13,917$13,255$12,626$12,030$9,816
6 years$12,057$11,364$10,712$10,097$9,519$7,417
7 years$10,230$9,544$8,901$8,301$7,741$5,752
8 years$8,861$8,181$7,549$6,964$6,422$4,543
9 years$7,797$7,123$6,502$5,932$5,408$3,637
10 years$6,946$6,278$5,669$5,113$4,608$2,942
11 years$6,250$5,589$4,991$4,450$3,963$2,399
12 years$5,671$5,017$4,429$3,903$3,434$1,968
13 years$5,181$4,534$3,957$3,446$2,995$1,623
14 years$4,761$4,121$3,555$3,059$2,625$1,343
15 years$4,398$3,764$3,210$2,728$2,311$1,116
16 years$4,080$3,454$2,910$2,443$2,043$929
17 years$3,800$3,181$2,648$2,195$1,811$776
18 years$3,552$2,939$2,418$1,978$1,611$649
19 years$3,330$2,724$2,213$1,787$1,436$543
20 years$3,130$2,531$2,031$1,619$1,282$455
21 years$2,950$2,358$1,868$1,469$1,147$382
22 years$2,786$2,201$1,722$1,336$1,029$321
23 years$2,637$2,058$1,590$1,216$923$270
24 years$2,500$1,929$1,470$1,109$830$227
25 years$2,374$1,810$1,362$1,013$747$191
26 years$2,259$1,701$1,263$926$673$161
27 years$2,152$1,601$1,173$848$606$136
28 years$2,053$1,509$1,090$777$547$114
29 years$1,961$1,423$1,015$712$494$96
30 years$1,875$1,344$945$654$446$81
31 years$1,795$1,271$881$601$404$68
32 years$1,720$1,202$822$552$365$58
33 years$1,649$1,138$768$508$330$49
34 years$1,583$1,079$717$467$299$41
35 years$1,521$1,023$670$430$271$35
36 years$1,463$971$627$396$246$29
37 years$1,408$923$587$365$223$25
38 years$1,355$877$550$336$202$21
39 years$1,306$834$515$310$183$18
40 years$1,259$793$483$286$166$15
41 years$1,215$755$453$264$151$12
42 years$1,173$719$425$243$137$11
43 years$1,132$685$398$225$124$9
44 years$1,094$653$374$208$113$7
45 years$1,058$623$351$192$102$6
46 years$1,023$594$330$177$93$5
47 years$990$567$310$164$84$5
48 years$958$541$291$151$76$4
49 years$928$517$274$140$69$3
50 years$899$494$257$129$63$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $921,000, adding $6,288 every year, while hoping to spend $37,052 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: 74/11/15 Blend
59$921,000$921,000$921,000$921,000
60$1,021,428$972,615$958,340$1,093,194
61$1,086,191$980,850$951,021$1,149,765
62$1,156,317$988,247$942,215$1,206,547
63$1,232,316$994,725$931,834$1,267,771
64$1,314,745$1,000,200$919,783$1,333,867
65$1,404,219$1,004,579$905,966$1,405,312
66$1,501,413$1,007,768$890,280$1,482,629
67$1,607,072$1,009,663$872,618$1,566,396
68$1,722,011$1,010,154$852,869$1,657,251
69$1,847,131$1,009,127$830,915$1,755,894
70$1,983,423$1,006,458$806,635$1,863,102
71$2,131,974$1,002,017$779,899$1,979,726
72$2,293,984$995,664$750,574$2,106,708
73$2,470,772$987,254$718,521$2,245,086
74$2,663,791$976,629$683,591$2,396,003
75$2,874,640$963,626$645,633$2,560,721
76$3,105,078$948,068$604,487$2,740,629
77$3,357,043$929,771$559,984$2,937,261
78$3,632,669$908,537$511,952$3,152,307
79$3,934,305$884,159$460,206$3,387,631
80$4,264,537$856,417$404,556$3,645,287
81$4,626,215$825,076$344,803$3,927,541
82$5,022,474$789,890$280,740$4,236,889
83$5,456,771$750,599$212,148$4,576,087
84$5,932,908$706,925$138,802$4,948,168
85$6,455,077$658,577$60,465$5,356,481
86$7,027,894$605,246$0$5,804,716
87$7,656,441$546,605$0$6,300,643
88$8,346,319$482,309$0$6,855,614
89$9,103,695$411,994$0$7,464,927
90$9,935,365$335,274$0$8,134,079
91$10,848,812$251,743$0$8,869,127
92$11,852,281$160,969$0$9,676,745
93$12,954,857$62,500$0$10,564,286
94$14,166,546$0$0$11,539,857
95$15,498,370$0$0$12,617,730
96$16,962,477$0$0$13,811,022
97$18,572,245$0$0$15,123,077
98$20,342,416$0$0$16,565,917
99$22,289,234$0$0$18,152,785
100$24,430,591$0$0$19,898,275