Can I retire at age 60 with 902,000?

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 $902,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$74,486$73,823$73,176$72,544$71,927$69,624
2 years$36,874$36,188$35,522$34,877$34,251$31,952
3 years$24,339$23,649$22,985$22,346$21,730$19,508
4 years$18,072$17,385$16,727$16,099$15,498$13,369
5 years$14,313$13,630$12,981$12,366$11,781$9,751
6 years$11,808$11,130$10,491$9,889$9,322$7,393
7 years$10,019$9,347$8,718$8,130$7,581$5,752
8 years$8,678$8,012$7,393$6,820$6,290$4,559
9 years$7,636$6,976$6,368$5,809$5,297$3,664
10 years$6,803$6,149$5,552$5,008$4,513$2,975
11 years$6,121$5,474$4,888$4,358$3,881$2,435
12 years$5,554$4,913$4,338$3,823$3,364$2,006
13 years$5,074$4,440$3,875$3,375$2,933$1,661
14 years$4,663$4,036$3,482$2,996$2,571$1,381
15 years$4,307$3,687$3,144$2,672$2,264$1,152
16 years$3,996$3,383$2,850$2,392$2,001$963
17 years$3,722$3,115$2,594$2,149$1,774$808
18 years$3,479$2,879$2,368$1,937$1,577$678
19 years$3,261$2,668$2,168$1,750$1,406$571
20 years$3,066$2,479$1,989$1,585$1,256$481
21 years$2,889$2,309$1,830$1,439$1,124$405
22 years$2,729$2,156$1,686$1,308$1,007$342
23 years$2,582$2,016$1,557$1,191$904$289
24 years$2,448$1,889$1,440$1,087$813$244
25 years$2,325$1,773$1,334$992$731$206
26 years$2,212$1,666$1,237$907$659$175
27 years$2,107$1,568$1,149$830$594$148
28 years$2,010$1,477$1,068$761$536$125
29 years$1,920$1,394$994$698$484$106
30 years$1,836$1,316$926$640$437$90
31 years$1,758$1,244$863$588$395$76
32 years$1,684$1,177$805$541$358$64
33 years$1,615$1,115$752$497$324$55
34 years$1,551$1,057$702$457$293$46
35 years$1,490$1,002$657$421$265$39
36 years$1,433$951$614$388$240$33
37 years$1,379$904$575$357$218$28
38 years$1,327$859$538$329$198$24
39 years$1,279$817$504$304$179$20
40 years$1,233$777$473$280$163$17
41 years$1,190$740$443$258$147$15
42 years$1,148$704$416$238$134$12
43 years$1,109$671$390$220$121$10
44 years$1,072$640$366$203$110$9
45 years$1,036$610$344$188$100$8
46 years$1,002$582$323$173$91$6
47 years$970$555$304$160$82$5
48 years$939$530$285$148$75$5
49 years$909$506$268$137$68$4
50 years$881$484$252$126$62$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $902,000, adding $4,422 every year, while hoping to spend $43,979 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: 76/11/13 Blend
59$902,000$902,000$902,000$902,000
60$998,565$950,759$936,778$1,071,489
61$1,053,626$950,553$921,367$1,119,991
62$1,112,828$948,863$903,966$1,167,169
63$1,176,549$945,570$884,461$1,217,669
64$1,245,201$940,546$862,734$1,271,804
65$1,319,238$933,659$838,662$1,329,924
66$1,399,157$924,766$812,115$1,392,411
67$1,485,508$913,716$782,957$1,459,689
68$1,578,890$900,349$751,047$1,532,224
69$1,679,967$884,496$716,236$1,610,531
70$1,789,464$865,977$678,371$1,695,177
71$1,908,181$844,601$637,288$1,786,789
72$2,036,997$820,169$592,819$1,886,057
73$2,176,880$792,465$544,787$1,993,742
74$2,328,891$761,266$493,007$2,110,685
75$2,494,202$726,332$437,287$2,237,811
76$2,674,100$687,411$377,425$2,376,144
77$2,870,000$644,236$313,210$2,526,809
78$3,083,460$596,524$244,423$2,691,050
79$3,316,196$543,977$170,835$2,870,239
80$3,570,095$486,279$92,205$3,065,887
81$3,847,235$423,097$8,284$3,279,664
82$4,149,903$354,078$0$3,513,408
83$4,480,615$278,850$0$3,780,422
84$4,842,144$197,020$0$4,073,629
85$5,237,540$108,172$0$4,394,388
86$5,670,164$11,867$0$4,745,461
87$6,143,716$0$0$5,129,892
88$6,662,268$0$0$5,562,217
89$7,230,307$0$0$6,037,408
90$7,852,774$0$0$6,558,166
91$8,535,108$0$0$7,129,046
92$9,283,304$0$0$7,755,067
93$10,103,960$0$0$8,441,757
94$11,004,347$0$0$9,195,203
95$11,992,471$0$0$10,022,110
96$13,077,153$0$0$10,929,866
97$14,268,108$0$0$11,926,605
98$15,576,039$0$0$13,021,292
99$17,012,735$0$0$14,223,799
100$18,591,185$0$0$15,545,004