Can I retire at age 60 with 922,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $922,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$76,138$75,460$74,798$74,152$73,522$71,197
2 years$37,692$36,990$36,310$35,650$35,010$32,689
3 years$24,878$24,173$23,495$22,841$22,212$19,967
4 years$18,473$17,770$17,098$16,456$15,842$13,691
5 years$14,631$13,932$13,269$12,640$12,043$9,991
6 years$12,070$11,376$10,723$10,108$9,529$7,579
7 years$10,241$9,554$8,911$8,310$7,750$5,900
8 years$8,871$8,189$7,557$6,971$6,429$4,680
9 years$7,805$7,130$6,509$5,938$5,414$3,762
10 years$6,953$6,285$5,675$5,119$4,613$3,057
11 years$6,257$5,595$4,996$4,455$3,967$2,504
12 years$5,677$5,022$4,434$3,907$3,438$2,064
13 years$5,186$4,538$3,961$3,450$2,998$1,710
14 years$4,766$4,125$3,559$3,062$2,628$1,422
15 years$4,403$3,769$3,214$2,731$2,314$1,187
16 years$4,085$3,458$2,914$2,445$2,045$994
17 years$3,805$3,184$2,651$2,197$1,813$834
18 years$3,556$2,942$2,420$1,980$1,612$701
19 years$3,333$2,727$2,216$1,789$1,437$590
20 years$3,134$2,534$2,033$1,620$1,284$497
21 years$2,953$2,360$1,870$1,471$1,149$420
22 years$2,789$2,203$1,724$1,337$1,030$355
23 years$2,640$2,061$1,592$1,218$924$300
24 years$2,503$1,931$1,472$1,111$831$254
25 years$2,377$1,812$1,363$1,014$748$215
26 years$2,261$1,703$1,264$927$673$182
27 years$2,154$1,603$1,174$849$607$154
28 years$2,055$1,510$1,091$778$548$130
29 years$1,963$1,425$1,016$713$495$111
30 years$1,877$1,345$946$655$447$94
31 years$1,797$1,272$882$601$404$79
32 years$1,722$1,203$823$552$366$67
33 years$1,651$1,140$768$508$331$57
34 years$1,585$1,080$718$467$300$48
35 years$1,523$1,025$671$430$271$41
36 years$1,464$972$628$396$246$35
37 years$1,409$924$588$365$223$30
38 years$1,357$878$550$337$202$25
39 years$1,307$835$516$310$183$21
40 years$1,261$794$483$286$166$18
41 years$1,216$756$453$264$151$15
42 years$1,174$720$425$244$137$13
43 years$1,134$686$399$225$124$11
44 years$1,095$654$374$208$113$9
45 years$1,059$623$352$192$102$8
46 years$1,024$595$330$177$93$7
47 years$991$568$310$164$84$6
48 years$959$542$292$151$77$5
49 years$929$517$274$140$70$4
50 years$900$494$258$129$63$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $922,000, adding $3,136 every year, while hoping to spend $54,317 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: 73/7/20 Blend
59$922,000$922,000$922,000$922,000
60$1,019,279$970,413$956,122$1,088,583
61$1,065,452$960,170$930,359$1,124,813
62$1,114,515$947,605$901,913$1,157,634
63$1,166,705$932,547$870,636$1,192,206
64$1,222,280$914,813$836,374$1,228,694
65$1,281,527$894,213$798,966$1,267,280
66$1,344,755$870,542$758,244$1,308,164
67$1,412,308$843,586$714,033$1,351,569
68$1,484,557$813,116$666,147$1,397,741
69$1,561,915$778,891$614,396$1,446,953
70$1,644,829$740,656$558,577$1,499,506
71$1,733,794$698,141$498,482$1,555,735
72$1,829,352$651,060$433,892$1,616,009
73$1,932,095$599,112$364,576$1,680,737
74$2,042,677$541,977$290,298$1,750,370
75$2,161,814$479,317$210,807$1,825,410
76$2,290,293$410,777$125,843$1,906,408
77$2,428,977$335,980$35,133$1,993,978
78$2,578,817$254,528$0$2,088,794
79$2,740,857$166,000$0$2,204,766
80$2,916,243$69,953$0$2,338,416
81$3,106,237$0$0$2,483,218
82$3,312,225$0$0$2,642,877
83$3,535,732$0$0$2,821,997
84$3,778,436$0$0$3,016,538
85$4,042,179$0$0$3,227,983
86$4,328,993$0$0$3,457,963
87$4,641,108$0$0$3,708,275
88$4,980,982$0$0$3,980,893
89$5,351,317$0$0$4,277,990
90$5,755,088$0$0$4,601,959
91$6,195,569$0$0$4,955,433
92$6,676,363$0$0$5,341,310
93$7,201,436$0$0$5,762,780
94$7,775,156$0$0$6,223,354
95$8,402,329$0$0$6,726,899
96$9,088,248$0$0$7,277,671
97$9,838,740$0$0$7,880,358
98$10,660,222$0$0$8,540,121
99$11,559,761$0$0$9,262,642
100$12,545,137$0$0$10,054,181