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%18.3%
1 years$76,799$76,114$75,447$74,796$74,160$71,671
2 years$38,019$37,311$36,625$35,959$35,314$32,831
3 years$25,094$24,383$23,699$23,040$22,405$20,006
4 years$18,633$17,924$17,247$16,599$15,979$13,683
5 years$14,757$14,053$13,384$12,749$12,147$9,959
6 years$12,175$11,475$10,816$10,196$9,612$7,533
7 years$10,330$9,637$8,988$8,383$7,817$5,848
8 years$8,948$8,261$7,623$7,032$6,485$4,625
9 years$7,873$7,192$6,566$5,990$5,461$3,707
10 years$7,014$6,340$5,724$5,163$4,653$3,002
11 years$6,311$5,644$5,039$4,493$4,002$2,451
12 years$5,726$5,066$4,472$3,941$3,468$2,014
13 years$5,231$4,578$3,996$3,480$3,024$1,663
14 years$4,808$4,161$3,590$3,089$2,651$1,379
15 years$4,441$3,801$3,241$2,755$2,334$1,147
16 years$4,120$3,488$2,939$2,467$2,063$956
17 years$3,838$3,212$2,674$2,216$1,829$799
18 years$3,587$2,968$2,441$1,997$1,626$669
19 years$3,362$2,751$2,235$1,805$1,450$561
20 years$3,161$2,556$2,051$1,634$1,295$471
21 years$2,979$2,381$1,887$1,483$1,159$396
22 years$2,813$2,222$1,739$1,349$1,039$333
23 years$2,662$2,079$1,605$1,228$932$281
24 years$2,524$1,948$1,485$1,120$838$237
25 years$2,398$1,828$1,375$1,023$754$199
26 years$2,281$1,718$1,275$935$679$168
27 years$2,173$1,617$1,184$856$612$142
28 years$2,073$1,523$1,101$785$553$120
29 years$1,980$1,437$1,025$719$499$101
30 years$1,893$1,357$954$660$451$85
31 years$1,812$1,283$890$606$408$72
32 years$1,736$1,214$830$557$369$61
33 years$1,665$1,150$775$512$334$51
34 years$1,599$1,090$724$472$302$43
35 years$1,536$1,033$677$434$274$37
36 years$1,477$981$633$400$248$31
37 years$1,421$932$593$368$225$26
38 years$1,369$885$555$339$204$22
39 years$1,319$842$520$313$185$19
40 years$1,271$801$488$289$168$16
41 years$1,227$762$457$266$152$13
42 years$1,184$726$429$246$138$11
43 years$1,144$692$402$227$125$10
44 years$1,105$659$378$210$114$8
45 years$1,068$629$355$194$103$7
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$4
49 years$937$522$276$141$70$3
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 $2,870 every year, while hoping to spend $45,882 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: 51/24/25 Blend
59$930,000$930,000$930,000$930,000
60$1,027,820$978,530$964,115$1,072,900
61$1,083,840$977,660$947,595$1,103,633
62$1,144,036$975,210$928,984$1,132,149
63$1,208,785$971,053$908,163$1,162,228
64$1,278,503$965,056$885,008$1,194,037
65$1,353,645$957,078$859,390$1,227,762
66$1,434,710$946,968$831,172$1,263,612
67$1,522,247$934,567$800,214$1,301,818
68$1,616,862$919,706$766,366$1,342,640
69$1,719,216$902,206$729,474$1,386,366
70$1,830,040$881,878$689,375$1,433,315
71$1,950,135$858,521$645,900$1,483,844
72$2,080,383$831,922$598,872$1,538,349
73$2,221,752$801,857$548,105$1,597,272
74$2,375,311$768,088$493,406$1,661,102
75$2,542,231$730,363$434,574$1,730,382
76$2,723,803$688,415$371,397$1,805,716
77$2,921,447$641,963$303,654$1,887,775
78$3,136,725$590,710$231,117$1,977,302
79$3,371,355$534,339$153,544$2,075,122
80$3,627,231$472,519$70,685$2,182,151
81$3,906,433$404,898$0$2,299,402
82$4,211,255$331,103$0$2,432,732
83$4,544,220$250,744$0$2,599,084
84$4,908,104$163,404$0$2,781,039
85$5,305,966$68,646$0$2,980,205
86$5,741,174$0$0$3,198,357
87$6,217,433$0$0$3,446,433
88$6,738,826$0$0$3,737,958
89$7,309,849$0$0$4,057,328
90$7,935,452$0$0$4,407,324
91$8,621,086$0$0$4,791,009
92$9,372,755$0$0$5,211,754
93$10,197,073$0$0$5,673,276
94$11,101,323$0$0$6,179,665
95$12,093,527$0$0$6,735,429
96$13,182,521$0$0$7,345,533
97$14,378,040$0$0$8,015,444
98$15,690,805$0$0$8,751,187
99$17,132,627$0$0$9,559,398
100$18,716,519$0$0$10,447,388