Can I retire at age 60 with 924,000?

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 $924,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$76,303$75,623$74,960$74,313$73,681$72,282
2 years$37,774$37,070$36,388$35,727$35,086$33,682
3 years$24,932$24,226$23,546$22,891$22,260$20,895
4 years$18,513$17,809$17,135$16,492$15,876$14,560
5 years$14,662$13,962$13,298$12,667$12,069$10,806
6 years$12,096$11,401$10,747$10,130$9,550$8,341
7 years$10,264$9,575$8,930$8,328$7,766$6,613
8 years$8,890$8,207$7,574$6,987$6,443$5,344
9 years$7,822$7,146$6,523$5,951$5,426$4,380
10 years$6,968$6,299$5,687$5,130$4,623$3,630
11 years$6,270$5,607$5,007$4,464$3,976$3,035
12 years$5,689$5,033$4,443$3,916$3,446$2,555
13 years$5,198$4,548$3,970$3,457$3,005$2,162
14 years$4,777$4,134$3,567$3,069$2,634$1,839
15 years$4,412$3,777$3,221$2,737$2,319$1,570
16 years$4,094$3,465$2,920$2,451$2,050$1,344
17 years$3,813$3,191$2,657$2,202$1,817$1,154
18 years$3,564$2,949$2,425$1,984$1,616$993
19 years$3,341$2,733$2,220$1,793$1,440$857
20 years$3,140$2,540$2,038$1,624$1,286$740
21 years$2,959$2,366$1,874$1,474$1,151$640
22 years$2,795$2,208$1,728$1,340$1,032$554
23 years$2,645$2,065$1,595$1,220$926$480
24 years$2,508$1,935$1,475$1,113$833$417
25 years$2,382$1,816$1,366$1,017$749$362
26 years$2,266$1,707$1,267$929$675$314
27 years$2,159$1,606$1,177$851$608$273
28 years$2,059$1,513$1,094$779$549$238
29 years$1,967$1,428$1,018$715$496$207
30 years$1,881$1,348$948$656$448$180
31 years$1,800$1,275$884$602$405$157
32 years$1,725$1,206$825$554$366$136
33 years$1,655$1,142$770$509$332$119
34 years$1,589$1,083$720$468$300$104
35 years$1,526$1,027$673$431$272$90
36 years$1,468$975$629$397$246$79
37 years$1,412$926$589$366$223$69
38 years$1,360$880$552$337$202$60
39 years$1,310$836$517$311$184$52
40 years$1,263$796$484$287$166$45
41 years$1,219$758$454$265$151$40
42 years$1,176$721$426$244$137$35
43 years$1,136$687$400$225$124$30
44 years$1,098$655$375$208$113$26
45 years$1,061$625$352$192$102$23
46 years$1,027$596$331$178$93$20
47 years$993$569$311$164$84$17
48 years$962$543$292$152$77$15
49 years$931$519$275$140$70$13
50 years$902$495$258$130$63$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $924,000, adding $4,021 every year, while hoping to spend $23,236 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: 65/5/30 Blend
59$924,000$924,000$924,000$924,000
60$1,022,396$973,424$959,102$1,080,441
61$1,101,957$996,398$966,509$1,143,207
62$1,188,855$1,019,720$973,385$1,208,869
63$1,283,813$1,043,382$979,688$1,280,146
64$1,387,629$1,067,374$985,374$1,357,596
65$1,501,178$1,091,687$990,396$1,441,831
66$1,625,429$1,116,309$994,704$1,533,528
67$1,761,443$1,141,229$998,248$1,633,432
68$1,910,393$1,166,432$1,000,972$1,742,365
69$2,073,568$1,191,902$1,002,819$1,861,233
70$2,252,389$1,217,622$1,003,730$1,991,032
71$2,448,420$1,243,573$1,003,643$2,132,864
72$2,663,384$1,269,734$1,002,490$2,287,942
73$2,899,179$1,296,081$1,000,204$2,457,601
74$3,157,896$1,322,589$996,711$2,643,316
75$3,441,836$1,349,230$991,935$2,846,711
76$3,753,535$1,375,975$985,798$3,069,576
77$4,095,788$1,402,790$978,214$3,313,885
78$4,471,672$1,429,640$969,098$3,581,813
79$4,884,576$1,456,487$958,356$3,875,758
80$5,338,236$1,483,287$945,894$4,198,363
81$5,836,765$1,509,997$931,610$4,552,542
82$6,384,696$1,536,568$915,400$4,941,507
83$6,987,022$1,562,947$897,153$5,368,797
84$7,649,245$1,589,078$876,754$5,838,314
85$8,377,425$1,614,900$854,083$6,354,360
86$9,178,240$1,640,347$829,012$6,921,675
87$10,059,047$1,665,351$801,411$7,545,484
88$11,027,952$1,689,836$771,140$8,231,547
89$12,093,887$1,713,721$738,057$8,986,213
90$13,266,691$1,736,921$702,009$9,816,479
91$14,557,206$1,759,343$662,840$10,730,058
92$15,977,380$1,780,890$620,383$11,735,450
93$17,540,374$1,801,455$574,468$12,842,026
94$19,260,693$1,820,927$524,913$14,060,113
95$21,154,317$1,839,186$471,531$15,401,093
96$23,238,855$1,856,104$414,125$16,877,513
97$25,533,711$1,871,545$352,491$18,503,199
98$28,060,263$1,885,364$286,413$20,293,394
99$30,842,070$1,897,407$215,668$22,264,892
100$33,905,091$1,907,510$140,022$24,436,209