Can I retire at age 60 with 928,000?

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 $928,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$76,633$75,951$75,285$74,635$74,000$71,689
2 years$37,937$37,231$36,546$35,882$35,238$32,930
3 years$25,040$24,331$23,648$22,990$22,357$20,124
4 years$18,593$17,886$17,209$16,563$15,945$13,805
5 years$14,726$14,023$13,355$12,722$12,121$10,080
6 years$12,148$11,450$10,793$10,174$9,591$7,650
7 years$10,308$9,616$8,969$8,364$7,800$5,959
8 years$8,929$8,243$7,606$7,017$6,471$4,729
9 years$7,856$7,177$6,551$5,977$5,449$3,805
10 years$6,999$6,326$5,712$5,152$4,643$3,093
11 years$6,298$5,632$5,028$4,484$3,993$2,535
12 years$5,714$5,055$4,463$3,933$3,460$2,091
13 years$5,220$4,568$3,987$3,472$3,018$1,734
14 years$4,797$4,152$3,582$3,082$2,645$1,443
15 years$4,431$3,793$3,234$2,749$2,329$1,206
16 years$4,111$3,480$2,933$2,461$2,058$1,010
17 years$3,829$3,205$2,668$2,211$1,825$848
18 years$3,579$2,962$2,436$1,993$1,623$713
19 years$3,355$2,745$2,230$1,801$1,446$601
20 years$3,154$2,551$2,047$1,631$1,292$507
21 years$2,972$2,376$1,882$1,480$1,156$428
22 years$2,807$2,218$1,735$1,346$1,036$362
23 years$2,657$2,074$1,602$1,226$930$306
24 years$2,519$1,943$1,482$1,118$836$259
25 years$2,393$1,824$1,372$1,021$752$220
26 years$2,276$1,714$1,273$933$678$186
27 years$2,168$1,613$1,182$854$611$158
28 years$2,068$1,520$1,099$783$551$134
29 years$1,975$1,434$1,022$718$498$113
30 years$1,889$1,354$952$659$450$96
31 years$1,808$1,280$888$605$407$82
32 years$1,733$1,211$828$556$368$69
33 years$1,662$1,147$773$511$333$59
34 years$1,595$1,087$723$471$301$50
35 years$1,533$1,031$676$433$273$42
36 years$1,474$979$632$399$247$36
37 years$1,418$930$592$368$224$31
38 years$1,366$883$554$339$203$26
39 years$1,316$840$519$312$184$22
40 years$1,269$799$486$288$167$19
41 years$1,224$761$456$266$152$16
42 years$1,181$725$428$245$138$14
43 years$1,141$690$402$226$125$11
44 years$1,103$658$377$209$113$10
45 years$1,066$628$354$193$103$8
46 years$1,031$599$332$178$93$7
47 years$998$571$312$165$85$6
48 years$966$545$293$152$77$5
49 years$935$521$276$141$70$4
50 years$906$497$259$130$64$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $928,000, adding $2,360 every year, while hoping to spend $26,785 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: 58/19/23 Blend
59$928,000$928,000$928,000$928,000
60$1,025,090$975,906$961,522$1,078,078
61$1,101,151$995,227$965,234$1,133,782
62$1,184,071$1,014,596$968,173$1,191,409
63$1,274,524$1,033,989$970,284$1,253,660
64$1,373,247$1,053,376$971,511$1,320,989
65$1,481,055$1,072,728$971,793$1,393,894
66$1,598,843$1,092,013$971,069$1,472,929
67$1,727,598$1,111,193$969,272$1,558,699
68$1,868,403$1,130,233$966,333$1,651,875
69$2,022,456$1,149,090$962,181$1,753,196
70$2,191,072$1,167,720$956,739$1,863,475
71$2,375,699$1,186,077$949,928$1,983,612
72$2,577,935$1,204,108$941,665$2,114,595
73$2,799,535$1,221,761$931,862$2,257,518
74$3,042,437$1,238,976$920,428$2,413,584
75$3,308,771$1,255,692$907,268$2,584,119
76$3,600,885$1,271,840$892,281$2,770,589
77$3,921,365$1,287,350$875,362$2,974,605
78$4,273,060$1,302,146$856,402$3,197,949
79$4,659,107$1,316,146$835,287$3,442,582
80$5,082,962$1,329,263$811,894$3,710,666
81$5,548,431$1,341,404$786,100$4,004,587
82$6,059,709$1,352,471$757,773$4,326,975
83$6,621,416$1,362,359$726,775$4,680,729
84$7,238,641$1,370,954$692,962$5,069,045
85$7,916,990$1,378,139$656,184$5,495,449
86$8,662,642$1,383,787$616,285$5,963,824
87$9,482,400$1,387,761$573,100$6,478,457
88$10,383,764$1,389,920$526,457$7,044,068
89$11,374,992$1,390,111$476,178$7,665,866
90$12,465,187$1,388,172$422,075$8,349,591
91$13,664,374$1,383,930$363,953$9,101,571
92$14,983,603$1,377,205$301,608$9,928,782
93$16,435,045$1,367,803$234,826$10,838,916
94$18,032,111$1,355,517$163,385$11,840,451
95$19,789,581$1,340,132$87,053$12,942,735
96$21,723,736$1,321,416$5,586$14,156,070
97$23,852,516$1,299,124$0$15,491,815
98$26,195,690$1,272,999$0$16,982,456
99$28,775,040$1,242,765$0$18,624,591
100$31,614,566$1,208,133$0$20,432,128