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%16.3%
1 years$76,799$76,114$75,447$74,796$74,160$72,249
2 years$38,019$37,311$36,625$35,959$35,314$33,402
3 years$25,094$24,383$23,699$23,040$22,405$20,551
4 years$18,633$17,924$17,247$16,599$15,979$14,198
5 years$14,757$14,053$13,384$12,749$12,147$10,444
6 years$12,175$11,475$10,816$10,196$9,612$7,987
7 years$10,330$9,637$8,988$8,383$7,817$6,272
8 years$8,948$8,261$7,623$7,032$6,485$5,018
9 years$7,873$7,192$6,566$5,990$5,461$4,072
10 years$7,014$6,340$5,724$5,163$4,653$3,339
11 years$6,311$5,644$5,039$4,493$4,002$2,761
12 years$5,726$5,066$4,472$3,941$3,468$2,299
13 years$5,231$4,578$3,996$3,480$3,024$1,924
14 years$4,808$4,161$3,590$3,089$2,651$1,617
15 years$4,441$3,801$3,241$2,755$2,334$1,364
16 years$4,120$3,488$2,939$2,467$2,063$1,154
17 years$3,838$3,212$2,674$2,216$1,829$979
18 years$3,587$2,968$2,441$1,997$1,626$832
19 years$3,362$2,751$2,235$1,805$1,450$709
20 years$3,161$2,556$2,051$1,634$1,295$604
21 years$2,979$2,381$1,887$1,483$1,159$516
22 years$2,813$2,222$1,739$1,349$1,039$441
23 years$2,662$2,079$1,605$1,228$932$377
24 years$2,524$1,948$1,485$1,120$838$323
25 years$2,398$1,828$1,375$1,023$754$276
26 years$2,281$1,718$1,275$935$679$237
27 years$2,173$1,617$1,184$856$612$203
28 years$2,073$1,523$1,101$785$553$174
29 years$1,980$1,437$1,025$719$499$150
30 years$1,893$1,357$954$660$451$128
31 years$1,812$1,283$890$606$408$110
32 years$1,736$1,214$830$557$369$95
33 years$1,665$1,150$775$512$334$81
34 years$1,599$1,090$724$472$302$70
35 years$1,536$1,033$677$434$274$60
36 years$1,477$981$633$400$248$52
37 years$1,421$932$593$368$225$44
38 years$1,369$885$555$339$204$38
39 years$1,319$842$520$313$185$33
40 years$1,271$801$488$289$168$28
41 years$1,227$762$457$266$152$24
42 years$1,184$726$429$246$138$21
43 years$1,144$692$402$227$125$18
44 years$1,105$659$378$210$114$15
45 years$1,068$629$355$194$103$13
46 years$1,033$600$333$179$94$11
47 years$1,000$573$313$165$85$10
48 years$968$547$294$153$77$8
49 years$937$522$276$141$70$7
50 years$908$499$260$130$64$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $930,000, adding $4,474 every year, while hoping to spend $22,990 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: 84/9/7 Blend
59$930,000$930,000$930,000$930,000
60$1,029,475$980,185$965,770$1,114,946
61$1,110,020$1,003,753$973,662$1,194,988
62$1,198,011$1,027,705$981,048$1,279,306
63$1,294,181$1,052,036$987,887$1,371,195
64$1,399,341$1,076,739$994,134$1,471,399
65$1,514,382$1,101,808$999,746$1,580,741
66$1,640,285$1,127,232$1,004,673$1,700,124
67$1,778,130$1,153,002$1,008,866$1,830,544
68$1,929,107$1,179,107$1,012,270$1,973,097
69$2,094,526$1,205,534$1,014,832$2,128,991
70$2,275,831$1,232,268$1,016,492$2,299,556
71$2,474,610$1,259,293$1,017,189$2,486,258
72$2,692,613$1,286,592$1,016,858$2,690,711
73$2,931,770$1,314,145$1,015,433$2,914,691
74$3,194,202$1,341,930$1,012,841$3,160,159
75$3,482,250$1,369,924$1,009,010$3,429,271
76$3,798,488$1,398,099$1,003,861$3,724,404
77$4,145,756$1,426,428$997,313$4,048,177
78$4,527,180$1,454,880$989,280$4,403,476
79$4,946,204$1,483,420$979,672$4,793,478
80$5,406,621$1,512,012$968,396$5,221,685
81$5,912,612$1,540,617$955,352$5,691,956
82$6,468,782$1,569,190$940,440$6,208,542
83$7,080,202$1,597,685$923,549$6,776,127
84$7,752,464$1,626,052$904,569$7,399,872
85$8,491,723$1,654,237$883,380$8,085,463
86$9,304,765$1,682,181$859,859$8,839,166
87$10,199,064$1,709,820$833,878$9,667,885
88$11,182,856$1,737,089$805,300$10,579,228
89$12,265,214$1,763,913$773,984$11,581,577
90$13,456,137$1,790,216$739,784$12,684,169
91$14,766,639$1,815,913$702,543$13,897,182
92$16,208,860$1,840,916$662,101$15,231,832
93$17,796,171$1,865,129$618,289$16,700,477
94$19,543,310$1,888,449$570,931$18,316,735
95$21,466,512$1,910,768$519,842$20,095,615
96$23,583,669$1,931,968$464,830$22,053,651
97$25,914,495$1,951,926$405,693$24,209,067
98$28,480,712$1,970,509$342,222$26,581,942
99$31,306,255$1,987,575$274,197$29,194,405
100$34,417,500$2,002,973$201,390$32,070,841