Can I retire at age 60 with 894,000?

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 $894,000?

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$73,826$73,168$72,527$71,900$71,289$69,453
2 years$36,547$35,867$35,207$34,567$33,947$32,109
3 years$24,123$23,439$22,781$22,148$21,537$19,756
4 years$17,912$17,230$16,579$15,956$15,361$13,649
5 years$14,186$13,509$12,866$12,256$11,677$10,039
6 years$11,703$11,031$10,398$9,801$9,240$7,678
7 years$9,930$9,264$8,640$8,058$7,514$6,029
8 years$8,601$7,941$7,328$6,760$6,234$4,824
9 years$7,568$6,914$6,311$5,758$5,250$3,914
10 years$6,742$6,094$5,502$4,963$4,473$3,210
11 years$6,067$5,425$4,844$4,320$3,847$2,655
12 years$5,504$4,869$4,299$3,789$3,334$2,210
13 years$5,029$4,401$3,841$3,345$2,907$1,850
14 years$4,622$4,000$3,451$2,969$2,548$1,555
15 years$4,269$3,654$3,116$2,648$2,244$1,312
16 years$3,961$3,353$2,825$2,371$1,983$1,110
17 years$3,689$3,088$2,571$2,130$1,758$941
18 years$3,448$2,853$2,347$1,920$1,563$800
19 years$3,232$2,644$2,148$1,735$1,393$681
20 years$3,038$2,457$1,972$1,571$1,245$581
21 years$2,863$2,289$1,813$1,426$1,114$496
22 years$2,704$2,136$1,671$1,297$998$424
23 years$2,559$1,998$1,543$1,181$896$362
24 years$2,427$1,872$1,427$1,077$806$310
25 years$2,305$1,757$1,322$984$725$266
26 years$2,193$1,651$1,226$899$653$228
27 years$2,089$1,554$1,138$823$589$195
28 years$1,993$1,464$1,058$754$531$168
29 years$1,903$1,381$985$692$480$144
30 years$1,820$1,305$917$635$433$123
31 years$1,742$1,233$855$583$392$106
32 years$1,669$1,167$798$536$354$91
33 years$1,601$1,105$745$493$321$78
34 years$1,537$1,047$696$453$290$67
35 years$1,477$993$651$417$263$58
36 years$1,420$943$609$384$238$50
37 years$1,366$896$570$354$216$43
38 years$1,316$851$534$326$196$37
39 years$1,268$809$500$301$178$31
40 years$1,222$770$469$278$161$27
41 years$1,179$733$439$256$146$23
42 years$1,138$698$412$236$133$20
43 years$1,099$665$387$218$120$17
44 years$1,062$634$363$201$109$15
45 years$1,027$605$341$186$99$13
46 years$993$577$320$172$90$11
47 years$961$550$301$159$82$9
48 years$930$525$283$147$74$8
49 years$901$502$266$136$67$7
50 years$873$479$250$125$61$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $894,000, adding $6,967 every year, while hoping to spend $35,535 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: 46/37/17 Blend
59$894,000$894,000$894,000$894,000
60$992,374$944,992$931,135$1,032,922
61$1,055,788$953,488$924,520$1,070,385
62$1,124,478$961,209$916,491$1,106,876
63$1,198,946$968,080$906,965$1,145,706
64$1,279,743$974,020$895,853$1,187,106
65$1,367,474$978,944$883,061$1,231,335
66$1,462,806$982,762$868,492$1,278,678
67$1,566,470$985,375$852,045$1,329,451
68$1,679,274$986,682$833,612$1,384,003
69$1,802,103$986,573$813,082$1,442,724
70$1,935,936$984,933$790,338$1,506,041
71$2,081,844$981,638$765,257$1,574,431
72$2,241,011$976,557$737,713$1,648,419
73$2,414,738$969,552$707,570$1,728,589
74$2,604,457$960,476$674,689$1,815,584
75$2,811,745$949,173$638,925$1,910,117
76$3,038,338$935,477$600,124$2,012,979
77$3,286,147$919,214$558,126$2,125,042
78$3,557,276$900,198$512,766$2,247,271
79$3,854,043$878,232$463,868$2,380,733
80$4,178,998$853,108$411,250$2,526,611
81$4,534,952$824,607$354,723$2,686,209
82$4,924,999$792,494$294,088$2,860,971
83$5,352,546$756,524$229,137$3,052,492
84$5,821,347$716,434$159,654$3,262,536
85$6,335,535$671,950$85,413$3,493,050
86$6,899,662$622,779$6,178$3,746,189
87$7,518,745$568,612$0$4,024,332
88$8,198,307$509,124$0$4,344,325
89$8,944,433$443,969$0$4,696,973
90$9,763,825$372,784$0$5,084,412
91$10,663,867$295,182$0$5,510,235
92$11,652,694$210,759$0$5,978,407
93$12,739,267$119,084$0$6,493,304
94$13,933,457$19,703$0$7,059,753
95$15,246,139$0$0$7,683,081
96$16,689,297$0$0$8,404,939
97$18,276,131$0$0$9,207,598
98$20,021,184$0$0$10,090,407
99$21,940,480$0$0$11,061,486
100$24,051,675$0$0$12,129,785