Can I retire at age 60 with 930,000?

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 $930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$76,799$76,114$75,447$74,796$74,160$71,757
2 years$38,019$37,311$36,625$35,959$35,314$32,916
3 years$25,094$24,383$23,699$23,040$22,405$20,086
4 years$18,633$17,924$17,247$16,599$15,979$13,759
5 years$14,757$14,053$13,384$12,749$12,147$10,030
6 years$12,175$11,475$10,816$10,196$9,612$7,600
7 years$10,330$9,637$8,988$8,383$7,817$5,910
8 years$8,948$8,261$7,623$7,032$6,485$4,682
9 years$7,873$7,192$6,566$5,990$5,461$3,760
10 years$7,014$6,340$5,724$5,163$4,653$3,051
11 years$6,311$5,644$5,039$4,493$4,002$2,495
12 years$5,726$5,066$4,472$3,941$3,468$2,054
13 years$5,231$4,578$3,996$3,480$3,024$1,700
14 years$4,808$4,161$3,590$3,089$2,651$1,412
15 years$4,441$3,801$3,241$2,755$2,334$1,177
16 years$4,120$3,488$2,939$2,467$2,063$984
17 years$3,838$3,212$2,674$2,216$1,829$824
18 years$3,587$2,968$2,441$1,997$1,626$692
19 years$3,362$2,751$2,235$1,805$1,450$581
20 years$3,161$2,556$2,051$1,634$1,295$489
21 years$2,979$2,381$1,887$1,483$1,159$412
22 years$2,813$2,222$1,739$1,349$1,039$348
23 years$2,662$2,079$1,605$1,228$932$294
24 years$2,524$1,948$1,485$1,120$838$248
25 years$2,398$1,828$1,375$1,023$754$209
26 years$2,281$1,718$1,275$935$679$177
27 years$2,173$1,617$1,184$856$612$150
28 years$2,073$1,523$1,101$785$553$127
29 years$1,980$1,437$1,025$719$499$107
30 years$1,893$1,357$954$660$451$91
31 years$1,812$1,283$890$606$408$77
32 years$1,736$1,214$830$557$369$65
33 years$1,665$1,150$775$512$334$55
34 years$1,599$1,090$724$472$302$47
35 years$1,536$1,033$677$434$274$39
36 years$1,477$981$633$400$248$33
37 years$1,421$932$593$368$225$28
38 years$1,369$885$555$339$204$24
39 years$1,319$842$520$313$185$20
40 years$1,271$801$488$289$168$17
41 years$1,227$762$457$266$152$15
42 years$1,184$726$429$246$138$12
43 years$1,144$692$402$227$125$10
44 years$1,105$659$378$210$114$9
45 years$1,068$629$355$194$103$8
46 years$1,033$600$333$179$94$6
47 years$1,000$573$313$165$85$5
48 years$968$547$294$153$77$5
49 years$937$522$276$141$70$4
50 years$908$499$260$130$64$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $930,000, adding $2,779 every year, while hoping to spend $48,067 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: 54/31/15 Blend
59$930,000$930,000$930,000$930,000
60$1,027,727$978,437$964,022$1,078,989
61$1,081,412$975,237$945,173$1,111,040
62$1,138,962$970,270$924,083$1,140,523
63$1,200,720$963,397$900,624$1,171,528
64$1,267,064$954,474$874,665$1,204,211
65$1,338,407$943,345$846,068$1,238,747
66$1,415,202$929,848$814,690$1,275,330
67$1,497,950$913,807$780,379$1,314,178
68$1,587,198$895,041$742,979$1,355,533
69$1,683,547$873,353$702,324$1,399,664
70$1,787,659$848,537$658,242$1,446,871
71$1,900,261$820,376$610,553$1,497,488
72$2,022,152$788,638$559,071$1,551,886
73$2,154,209$753,080$503,598$1,610,478
74$2,297,399$713,441$443,929$1,673,723
75$2,452,783$669,449$379,850$1,742,131
76$2,621,530$620,815$311,137$1,816,268
77$2,804,923$567,232$237,558$1,896,764
78$3,004,376$508,378$158,867$1,984,316
79$3,221,444$443,910$74,811$2,079,699
80$3,457,838$373,468$0$2,183,774
81$3,715,440$296,670$0$2,299,876
82$3,996,321$213,114$0$2,439,612
83$4,302,763$122,373$0$2,592,215
84$4,637,274$23,999$0$2,759,032
85$5,002,618$0$0$2,941,551
86$5,401,836$0$0$3,169,558
87$5,838,275$0$0$3,427,858
88$6,315,624$0$0$3,710,458
89$6,837,940$0$0$4,019,770
90$7,409,693$0$0$4,358,455
91$8,035,805$0$0$4,729,438
92$8,721,695$0$0$5,135,943
93$9,473,333$0$0$5,581,522
94$10,297,291$0$0$6,070,083
95$11,200,810$0$0$6,605,934
96$12,191,864$0$0$7,193,818
97$13,279,236$0$0$7,838,959
98$14,472,598$0$0$8,547,114
99$15,782,609$0$0$9,324,620
100$17,221,006$0$0$10,178,461