Can I retire at age 60 with 893,000?

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 $893,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$73,743$73,086$72,445$71,820$71,209$69,179
2 years$36,506$35,827$35,168$34,529$33,909$31,880
3 years$24,096$23,413$22,756$22,123$21,513$19,548
4 years$17,892$17,211$16,560$15,938$15,343$13,458
5 years$14,170$13,494$12,852$12,242$11,664$9,862
6 years$11,690$11,019$10,386$9,790$9,229$7,514
7 years$9,919$9,253$8,631$8,049$7,506$5,877
8 years$8,592$7,932$7,320$6,752$6,227$4,683
9 years$7,560$6,906$6,304$5,751$5,244$3,783
10 years$6,735$6,087$5,496$4,958$4,468$3,089
11 years$6,060$5,419$4,839$4,315$3,843$2,543
12 years$5,498$4,864$4,294$3,785$3,330$2,108
13 years$5,023$4,396$3,837$3,341$2,904$1,756
14 years$4,616$3,996$3,447$2,966$2,545$1,469
15 years$4,264$3,650$3,112$2,645$2,241$1,233
16 years$3,956$3,349$2,822$2,368$1,981$1,038
17 years$3,685$3,084$2,568$2,128$1,756$876
18 years$3,444$2,850$2,344$1,918$1,562$741
19 years$3,229$2,641$2,146$1,733$1,392$627
20 years$3,035$2,454$1,969$1,569$1,243$532
21 years$2,860$2,286$1,811$1,424$1,113$452
22 years$2,701$2,134$1,670$1,295$997$384
23 years$2,557$1,996$1,542$1,179$895$327
24 years$2,424$1,870$1,426$1,076$805$278
25 years$2,302$1,755$1,320$982$724$237
26 years$2,190$1,649$1,225$898$652$202
27 years$2,086$1,552$1,137$822$588$172
28 years$1,990$1,463$1,057$753$531$147
29 years$1,901$1,380$984$691$479$125
30 years$1,818$1,303$916$634$433$107
31 years$1,740$1,232$854$582$391$91
32 years$1,667$1,166$797$535$354$78
33 years$1,599$1,104$744$492$320$66
34 years$1,535$1,046$695$453$290$57
35 years$1,475$992$650$417$263$48
36 years$1,418$942$608$384$238$41
37 years$1,365$895$569$354$216$35
38 years$1,314$850$533$326$196$30
39 years$1,266$808$499$301$177$26
40 years$1,221$769$468$277$161$22
41 years$1,178$732$439$256$146$19
42 years$1,137$697$412$236$132$16
43 years$1,098$664$386$218$120$14
44 years$1,061$633$363$201$109$12
45 years$1,026$604$341$186$99$10
46 years$992$576$320$172$90$9
47 years$960$550$300$159$82$7
48 years$929$525$282$147$74$6
49 years$900$501$265$135$67$5
50 years$872$479$250$125$61$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $893,000, adding $6,717 every year, while hoping to spend $41,812 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: 48/41/11 Blend
59$893,000$893,000$893,000$893,000
60$991,015$943,686$929,844$1,035,282
61$1,047,610$945,439$916,506$1,068,196
62$1,108,578$945,876$901,320$1,099,009
63$1,174,318$944,889$884,180$1,131,516
64$1,245,273$942,363$864,974$1,165,887
65$1,321,927$938,176$843,587$1,202,313
66$1,404,814$932,196$819,898$1,241,007
67$1,494,518$924,288$793,778$1,282,206
68$1,591,685$914,303$765,095$1,326,171
69$1,697,021$902,089$733,710$1,373,194
70$1,811,306$887,479$699,478$1,423,602
71$1,935,395$870,302$662,246$1,477,754
72$2,070,230$850,372$621,856$1,536,052
73$2,216,848$827,494$578,143$1,598,941
74$2,376,387$801,461$530,931$1,666,916
75$2,550,102$772,056$480,041$1,740,524
76$2,739,372$739,047$425,282$1,820,376
77$2,945,717$702,189$366,458$1,907,147
78$3,170,807$661,223$303,361$2,001,585
79$3,416,482$615,876$235,776$2,104,523
80$3,684,766$565,858$163,478$2,216,882
81$3,977,890$510,862$86,232$2,339,682
82$4,298,307$450,566$3,793$2,474,054
83$4,648,718$384,628$0$2,621,251
84$5,032,098$312,686$0$2,792,544
85$5,451,724$234,359$0$2,980,704
86$5,911,201$149,244$0$3,187,021
87$6,414,502$56,915$0$3,413,413
88$6,966,001$0$0$3,662,001
89$7,570,516$0$0$3,954,562
90$8,233,351$0$0$4,303,602
91$8,960,351$0$0$4,686,533
92$9,757,952$0$0$5,106,758
93$10,633,243$0$0$5,568,026
94$11,594,032$0$0$6,074,464
95$12,648,923$0$0$6,630,622
96$13,807,390$0$0$7,241,510
97$15,079,871$0$0$7,912,647
98$16,477,866$0$0$8,650,114
99$18,014,040$0$0$9,460,610
100$19,702,351$0$0$10,351,514