Can I retire at age 60 with 923,000?

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 $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%14.3%
1 years$76,220$75,542$74,879$74,233$73,601$72,293
2 years$37,733$37,030$36,349$35,689$35,048$33,734
3 years$24,905$24,200$23,520$22,866$22,236$20,958
4 years$18,493$17,789$17,117$16,474$15,859$14,626
5 years$14,646$13,947$13,283$12,653$12,056$10,872
6 years$12,083$11,389$10,735$10,119$9,539$8,406
7 years$10,253$9,564$8,921$8,319$7,758$6,675
8 years$8,880$8,198$7,565$6,979$6,436$5,403
9 years$7,814$7,138$6,516$5,945$5,420$4,437
10 years$6,961$6,292$5,681$5,124$4,618$3,684
11 years$6,264$5,601$5,001$4,460$3,972$3,086
12 years$5,683$5,027$4,439$3,912$3,442$2,603
13 years$5,192$4,543$3,966$3,453$3,001$2,207
14 years$4,772$4,130$3,563$3,066$2,631$1,881
15 years$4,407$3,773$3,217$2,734$2,317$1,609
16 years$4,089$3,461$2,917$2,448$2,047$1,381
17 years$3,809$3,188$2,654$2,199$1,815$1,188
18 years$3,560$2,946$2,423$1,982$1,614$1,025
19 years$3,337$2,730$2,218$1,791$1,439$886
20 years$3,137$2,537$2,036$1,622$1,285$767
21 years$2,956$2,363$1,872$1,472$1,150$665
22 years$2,792$2,206$1,726$1,339$1,031$577
23 years$2,642$2,063$1,593$1,219$925$501
24 years$2,505$1,933$1,474$1,112$832$436
25 years$2,380$1,814$1,365$1,015$748$379
26 years$2,264$1,705$1,266$928$674$330
27 years$2,157$1,604$1,175$850$608$288
28 years$2,057$1,512$1,093$779$548$251
29 years$1,965$1,426$1,017$714$495$219
30 years$1,879$1,347$947$655$447$191
31 years$1,799$1,273$883$602$405$167
32 years$1,723$1,205$824$553$366$146
33 years$1,653$1,141$769$509$331$127
34 years$1,587$1,081$719$468$300$111
35 years$1,525$1,026$672$431$272$97
36 years$1,466$973$629$397$246$85
37 years$1,411$925$588$366$223$74
38 years$1,358$879$551$337$202$65
39 years$1,309$836$516$311$183$57
40 years$1,262$795$484$287$166$50
41 years$1,217$757$454$264$151$43
42 years$1,175$721$426$244$137$38
43 years$1,135$687$399$225$124$33
44 years$1,097$655$375$208$113$29
45 years$1,060$624$352$192$102$25
46 years$1,025$595$331$177$93$22
47 years$992$568$311$164$84$19
48 years$961$542$292$151$77$17
49 years$930$518$274$140$70$15
50 years$901$495$258$129$63$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $923,000, adding $3,385 every year, while hoping to spend $45,682 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: 46/33/21 Blend
59$923,000$923,000$923,000$923,000
60$1,020,638$971,719$957,412$1,061,309
61$1,076,137$970,728$940,880$1,089,165
62$1,135,767$968,157$922,263$1,114,569
63$1,199,900$963,881$901,443$1,141,191
64$1,268,945$957,766$878,297$1,169,165
65$1,343,352$949,672$852,695$1,198,643
66$1,423,616$939,447$824,502$1,229,794
67$1,510,278$926,934$793,576$1,262,806
68$1,603,936$911,963$759,771$1,297,893
69$1,705,245$894,357$722,930$1,335,292
70$1,814,925$873,925$682,894$1,375,266
71$1,933,768$850,469$639,492$1,418,112
72$2,062,646$823,775$592,548$1,464,160
73$2,202,515$793,620$541,878$1,513,778
74$2,354,430$759,765$487,289$1,567,375
75$2,519,549$721,961$428,580$1,625,409
76$2,699,146$679,940$365,541$1,688,389
77$2,894,624$633,422$297,952$1,756,879
78$3,107,527$582,111$225,584$1,831,511
79$3,339,551$525,691$148,197$1,912,984
80$3,592,566$463,831$65,543$2,002,077
81$3,868,628$396,179$0$2,099,655
82$4,170,003$322,366$0$2,211,755
83$4,499,180$241,999$0$2,350,370
84$4,858,905$154,665$0$2,502,044
85$5,252,196$59,927$0$2,668,157
86$5,682,381$0$0$2,850,235
87$6,153,120$0$0$3,065,461
88$6,668,445$0$0$3,324,999
89$7,232,797$0$0$3,609,336
90$7,851,063$0$0$3,920,948
91$8,528,629$0$0$4,262,564
92$9,271,424$0$0$4,637,188
93$10,085,981$0$0$5,048,128
94$10,979,491$0$0$5,499,030
95$11,959,879$0$0$5,993,907
96$13,035,871$0$0$6,537,182
97$14,217,081$0$0$7,133,726
98$15,514,099$0$0$7,788,904
99$16,938,589$0$0$8,508,628
100$18,503,402$0$0$9,299,410