Can I retire at age 60 with 928,000?

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 $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%15.5%
1 years$76,633$75,951$75,285$74,635$74,000$72,329
2 years$37,937$37,231$36,546$35,882$35,238$33,563
3 years$25,040$24,331$23,648$22,990$22,357$20,730
4 years$18,593$17,886$17,209$16,563$15,945$14,380
5 years$14,726$14,023$13,355$12,722$12,121$10,622
6 years$12,148$11,450$10,793$10,174$9,591$8,159
7 years$10,308$9,616$8,969$8,364$7,800$6,436
8 years$8,929$8,243$7,606$7,017$6,471$5,173
9 years$7,856$7,177$6,551$5,977$5,449$4,218
10 years$6,999$6,326$5,712$5,152$4,643$3,476
11 years$6,298$5,632$5,028$4,484$3,993$2,890
12 years$5,714$5,055$4,463$3,933$3,460$2,418
13 years$5,220$4,568$3,987$3,472$3,018$2,035
14 years$4,797$4,152$3,582$3,082$2,645$1,720
15 years$4,431$3,793$3,234$2,749$2,329$1,459
16 years$4,111$3,480$2,933$2,461$2,058$1,241
17 years$3,829$3,205$2,668$2,211$1,825$1,059
18 years$3,579$2,962$2,436$1,993$1,623$906
19 years$3,355$2,745$2,230$1,801$1,446$776
20 years$3,154$2,551$2,047$1,631$1,292$665
21 years$2,972$2,376$1,882$1,480$1,156$571
22 years$2,807$2,218$1,735$1,346$1,036$491
23 years$2,657$2,074$1,602$1,226$930$423
24 years$2,519$1,943$1,482$1,118$836$364
25 years$2,393$1,824$1,372$1,021$752$314
26 years$2,276$1,714$1,273$933$678$271
27 years$2,168$1,613$1,182$854$611$234
28 years$2,068$1,520$1,099$783$551$202
29 years$1,975$1,434$1,022$718$498$174
30 years$1,889$1,354$952$659$450$151
31 years$1,808$1,280$888$605$407$130
32 years$1,733$1,211$828$556$368$113
33 years$1,662$1,147$773$511$333$97
34 years$1,595$1,087$723$471$301$84
35 years$1,533$1,031$676$433$273$73
36 years$1,474$979$632$399$247$63
37 years$1,418$930$592$368$224$54
38 years$1,366$883$554$339$203$47
39 years$1,316$840$519$312$184$41
40 years$1,269$799$486$288$167$35
41 years$1,224$761$456$266$152$31
42 years$1,181$725$428$245$138$26
43 years$1,141$690$402$226$125$23
44 years$1,103$658$377$209$113$20
45 years$1,066$628$354$193$103$17
46 years$1,031$599$332$178$93$15
47 years$998$571$312$165$85$13
48 years$966$545$293$152$77$11
49 years$935$521$276$141$70$10
50 years$906$497$259$130$64$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $928,000, adding $3,724 every year, while hoping to spend $24,103 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: 61/14/25 Blend
59$928,000$928,000$928,000$928,000
60$1,026,497$977,313$962,929$1,082,060
61$1,105,555$999,556$969,542$1,142,463
62$1,191,868$1,022,081$975,568$1,205,412
63$1,286,152$1,044,877$980,963$1,273,598
64$1,389,193$1,067,930$985,680$1,347,535
65$1,501,859$1,091,226$989,667$1,427,791
66$1,625,101$1,114,748$992,874$1,514,991
67$1,759,971$1,138,481$995,245$1,609,824
68$1,907,624$1,162,403$996,722$1,713,050
69$2,069,335$1,186,493$997,245$1,825,505
70$2,246,504$1,210,729$996,750$1,948,114
71$2,440,677$1,235,084$995,171$2,081,892
72$2,653,554$1,259,531$992,437$2,227,962
73$2,887,008$1,284,040$988,475$2,387,558
74$3,143,103$1,308,577$983,209$2,562,043
75$3,424,110$1,333,108$976,557$2,752,920
76$3,732,533$1,357,594$968,435$2,961,842
77$4,071,128$1,381,993$958,755$3,190,634
78$4,442,933$1,406,261$947,423$3,441,308
79$4,851,294$1,430,350$934,344$3,716,081
80$5,299,896$1,454,207$919,414$4,017,395
81$5,792,799$1,477,776$902,528$4,347,946
82$6,334,476$1,500,999$883,574$4,710,702
83$6,929,855$1,523,810$862,436$5,108,936
84$7,584,364$1,546,141$838,991$5,546,255
85$8,303,984$1,567,917$813,113$6,026,638
86$9,095,305$1,589,059$784,667$6,554,467
87$9,965,587$1,609,484$753,514$7,134,574
88$10,922,828$1,629,100$719,508$7,772,285
89$11,975,842$1,647,811$682,496$8,473,472
90$13,134,338$1,665,513$642,320$9,244,604
91$14,409,014$1,682,097$598,812$10,092,815
92$15,811,659$1,697,446$551,798$11,025,967
93$17,355,262$1,711,434$501,096$12,052,725
94$19,054,132$1,723,928$446,516$13,182,641
95$20,924,039$1,734,786$387,860$14,426,243
96$22,982,357$1,743,857$324,920$15,795,136
97$25,248,232$1,750,980$257,479$17,302,109
98$27,742,760$1,755,986$185,312$18,961,260
99$30,489,184$1,758,692$108,183$20,788,127
100$33,513,118$1,758,905$25,844$22,799,836