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%11.2%
1 years$76,220$75,542$74,879$74,233$73,601$73,230
2 years$37,733$37,030$36,349$35,689$35,048$34,673
3 years$24,905$24,200$23,520$22,866$22,236$21,869
4 years$18,493$17,789$17,117$16,474$15,859$15,503
5 years$14,646$13,947$13,283$12,653$12,056$11,712
6 years$12,083$11,389$10,735$10,119$9,539$9,208
7 years$10,253$9,564$8,921$8,319$7,758$7,439
8 years$8,880$8,198$7,565$6,979$6,436$6,130
9 years$7,814$7,138$6,516$5,945$5,420$5,127
10 years$6,961$6,292$5,681$5,124$4,618$4,337
11 years$6,264$5,601$5,001$4,460$3,972$3,703
12 years$5,683$5,027$4,439$3,912$3,442$3,185
13 years$5,192$4,543$3,966$3,453$3,001$2,757
14 years$4,772$4,130$3,563$3,066$2,631$2,398
15 years$4,407$3,773$3,217$2,734$2,317$2,095
16 years$4,089$3,461$2,917$2,448$2,047$1,836
17 years$3,809$3,188$2,654$2,199$1,815$1,615
18 years$3,560$2,946$2,423$1,982$1,614$1,424
19 years$3,337$2,730$2,218$1,791$1,439$1,259
20 years$3,137$2,537$2,036$1,622$1,285$1,115
21 years$2,956$2,363$1,872$1,472$1,150$989
22 years$2,792$2,206$1,726$1,339$1,031$879
23 years$2,642$2,063$1,593$1,219$925$782
24 years$2,505$1,933$1,474$1,112$832$696
25 years$2,380$1,814$1,365$1,015$748$621
26 years$2,264$1,705$1,266$928$674$554
27 years$2,157$1,604$1,175$850$608$495
28 years$2,057$1,512$1,093$779$548$442
29 years$1,965$1,426$1,017$714$495$396
30 years$1,879$1,347$947$655$447$354
31 years$1,799$1,273$883$602$405$317
32 years$1,723$1,205$824$553$366$284
33 years$1,653$1,141$769$509$331$255
34 years$1,587$1,081$719$468$300$228
35 years$1,525$1,026$672$431$272$205
36 years$1,466$973$629$397$246$184
37 years$1,411$925$588$366$223$165
38 years$1,358$879$551$337$202$148
39 years$1,309$836$516$311$183$133
40 years$1,262$795$484$287$166$119
41 years$1,217$757$454$264$151$107
42 years$1,175$721$426$244$137$96
43 years$1,135$687$399$225$124$86
44 years$1,097$655$375$208$113$78
45 years$1,060$624$352$192$102$70
46 years$1,025$595$331$177$93$63
47 years$992$568$311$164$84$56
48 years$961$542$292$151$77$51
49 years$930$518$274$140$70$45
50 years$901$495$258$129$63$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $923,000, adding $2,680 every year, while hoping to spend $26,600 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: 35/39/26 Blend
59$923,000$923,000$923,000$923,000
60$1,019,910$970,991$956,685$1,047,517
61$1,095,639$990,268$960,432$1,087,592
62$1,178,201$1,009,597$963,412$1,128,201
63$1,268,264$1,028,954$965,573$1,171,497
64$1,366,565$1,048,311$966,858$1,217,736
65$1,473,914$1,067,638$967,208$1,267,204
66$1,591,204$1,086,903$966,560$1,320,213
67$1,719,416$1,106,070$964,849$1,377,113
68$1,859,632$1,125,103$962,006$1,438,285
69$2,013,042$1,143,961$957,962$1,504,154
70$2,180,957$1,162,600$952,638$1,575,187
71$2,364,822$1,180,974$945,958$1,651,900
72$2,566,224$1,199,033$937,839$1,734,865
73$2,786,916$1,216,723$928,194$1,824,710
74$3,028,825$1,233,985$916,932$1,922,133
75$3,294,075$1,250,760$903,958$2,027,901
76$3,585,003$1,266,980$889,174$2,142,863
77$3,904,187$1,282,576$872,474$2,267,955
78$4,254,463$1,297,471$853,751$2,404,212
79$4,638,957$1,311,586$832,891$2,552,776
80$5,061,111$1,324,834$809,773$2,714,908
81$5,524,718$1,337,124$784,274$2,892,000
82$6,033,955$1,348,359$756,263$3,085,587
83$6,593,424$1,358,435$725,603$3,297,366
84$7,208,195$1,367,240$692,153$3,529,210
85$7,883,854$1,374,657$655,763$3,783,183
86$8,626,553$1,380,561$616,277$4,061,566
87$9,443,071$1,384,819$573,532$4,366,876
88$10,340,878$1,387,288$527,359$4,701,890
89$11,328,201$1,387,819$477,579$5,069,672
90$12,414,107$1,386,251$424,007$5,473,604
91$13,608,583$1,382,415$366,449$5,917,417
92$14,922,635$1,376,130$304,702$6,405,228
93$16,368,390$1,367,206$238,555$6,941,578
94$17,959,206$1,355,439$167,786$7,531,478
95$19,709,804$1,340,615$92,166$8,180,457
96$21,636,404$1,322,505$11,454$8,894,612
97$23,756,878$1,300,869$0$9,680,671
98$26,090,917$1,275,449$0$10,566,770
99$28,660,219$1,245,975$0$11,545,116
100$31,488,693$1,212,160$0$12,621,630