Can I retire at age 60 with 923,000?

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 $923,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$76,220$75,542$74,879$74,233$73,601$71,880
2 years$37,733$37,030$36,349$35,689$35,048$33,324
3 years$24,905$24,200$23,520$22,866$22,236$20,563
4 years$18,493$17,789$17,117$16,474$15,859$14,249
5 years$14,646$13,947$13,283$12,653$12,056$10,514
6 years$12,083$11,389$10,735$10,119$9,539$8,068
7 years$10,253$9,564$8,921$8,319$7,758$6,356
8 years$8,880$8,198$7,565$6,979$6,436$5,104
9 years$7,814$7,138$6,516$5,945$5,420$4,156
10 years$6,961$6,292$5,681$5,124$4,618$3,421
11 years$6,264$5,601$5,001$4,460$3,972$2,840
12 years$5,683$5,027$4,439$3,912$3,442$2,374
13 years$5,192$4,543$3,966$3,453$3,001$1,995
14 years$4,772$4,130$3,563$3,066$2,631$1,684
15 years$4,407$3,773$3,217$2,734$2,317$1,426
16 years$4,089$3,461$2,917$2,448$2,047$1,212
17 years$3,809$3,188$2,654$2,199$1,815$1,032
18 years$3,560$2,946$2,423$1,982$1,614$881
19 years$3,337$2,730$2,218$1,791$1,439$754
20 years$3,137$2,537$2,036$1,622$1,285$646
21 years$2,956$2,363$1,872$1,472$1,150$554
22 years$2,792$2,206$1,726$1,339$1,031$475
23 years$2,642$2,063$1,593$1,219$925$409
24 years$2,505$1,933$1,474$1,112$832$351
25 years$2,380$1,814$1,365$1,015$748$302
26 years$2,264$1,705$1,266$928$674$260
27 years$2,157$1,604$1,175$850$608$224
28 years$2,057$1,512$1,093$779$548$193
29 years$1,965$1,426$1,017$714$495$167
30 years$1,879$1,347$947$655$447$144
31 years$1,799$1,273$883$602$405$124
32 years$1,723$1,205$824$553$366$107
33 years$1,653$1,141$769$509$331$92
34 years$1,587$1,081$719$468$300$80
35 years$1,525$1,026$672$431$272$69
36 years$1,466$973$629$397$246$60
37 years$1,411$925$588$366$223$51
38 years$1,358$879$551$337$202$44
39 years$1,309$836$516$311$183$38
40 years$1,262$795$484$287$166$33
41 years$1,217$757$454$264$151$29
42 years$1,175$721$426$244$137$25
43 years$1,135$687$399$225$124$21
44 years$1,097$655$375$208$113$18
45 years$1,060$624$352$192$102$16
46 years$1,025$595$331$177$93$14
47 years$992$568$311$164$84$12
48 years$961$542$292$151$77$10
49 years$930$518$274$140$70$9
50 years$901$495$258$129$63$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $923,000, adding $6,937 every year, while hoping to spend $23,295 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: 89/5/6 Blend
59$923,000$923,000$923,000$923,000
60$1,024,302$975,383$961,076$1,114,688
61$1,103,995$998,391$968,486$1,197,558
62$1,191,036$1,021,745$975,364$1,284,652
63$1,286,149$1,045,439$981,667$1,379,648
64$1,390,134$1,069,463$987,350$1,483,325
65$1,503,868$1,093,807$992,367$1,596,543
66$1,628,320$1,118,461$996,668$1,720,247
67$1,764,553$1,143,410$1,000,202$1,855,476
68$1,913,742$1,168,642$1,002,913$2,003,379
69$2,077,179$1,194,140$1,004,745$2,165,218
70$2,256,285$1,219,887$1,005,638$2,342,382
71$2,452,628$1,245,863$1,005,529$2,536,406
72$2,667,933$1,272,047$1,004,351$2,748,974
73$2,904,101$1,298,417$1,002,036$2,981,947
74$3,163,226$1,324,945$998,510$3,237,372
75$3,447,612$1,351,605$993,698$3,517,504
76$3,759,801$1,378,367$987,520$3,824,828
77$4,102,590$1,405,196$979,891$4,162,081
78$4,479,062$1,432,057$970,724$4,532,279
79$4,892,610$1,458,912$959,927$4,938,744
80$5,346,976$1,485,719$947,405$5,385,137
81$5,846,279$1,512,431$933,055$5,875,489
82$6,395,060$1,539,000$916,773$6,414,245
83$6,998,320$1,565,374$898,448$7,006,299
84$7,661,566$1,591,496$877,964$7,657,045
85$8,390,871$1,617,304$855,201$8,372,426
86$9,192,921$1,642,734$830,031$9,158,991
87$10,075,086$1,667,714$802,323$10,023,953
88$11,045,482$1,692,169$771,939$10,975,264
89$12,113,055$1,716,019$738,732$12,021,681
90$13,287,659$1,739,177$702,553$13,172,858
91$14,580,155$1,761,551$663,243$14,439,431
92$16,002,505$1,783,041$620,635$15,833,117
93$17,567,892$1,803,543$574,559$17,366,830
94$19,290,843$1,822,942$524,833$19,054,801
95$21,187,363$1,841,120$471,268$20,912,708
96$23,275,086$1,857,947$413,667$22,957,829
97$25,573,445$1,873,286$351,826$25,209,203
98$28,103,852$1,886,993$285,528$27,687,811
99$30,889,901$1,898,912$214,549$30,416,770
100$33,957,590$1,908,878$138,656$33,421,557