Can I retire at age 60 with 906,000?

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 $906,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$74,817$74,150$73,500$72,865$72,246$71,107
2 years$37,038$36,348$35,680$35,031$34,403$33,259
3 years$24,447$23,754$23,087$22,445$21,826$20,713
4 years$18,152$17,462$16,801$16,170$15,567$14,492
5 years$14,377$13,690$13,039$12,420$11,834$10,800
6 years$11,860$11,179$10,537$9,933$9,364$8,373
7 years$10,064$9,388$8,756$8,166$7,615$6,668
8 years$8,717$8,047$7,426$6,850$6,317$5,413
9 years$7,670$7,007$6,396$5,835$5,320$4,458
10 years$6,833$6,176$5,576$5,030$4,533$3,713
11 years$6,148$5,498$4,909$4,377$3,899$3,120
12 years$5,578$4,935$4,357$3,840$3,378$2,640
13 years$5,096$4,460$3,893$3,390$2,946$2,246
14 years$4,684$4,054$3,497$3,009$2,583$1,921
15 years$4,326$3,703$3,158$2,684$2,274$1,649
16 years$4,014$3,398$2,863$2,403$2,010$1,420
17 years$3,739$3,129$2,605$2,159$1,782$1,226
18 years$3,494$2,891$2,378$1,946$1,584$1,061
19 years$3,276$2,680$2,177$1,758$1,412$921
20 years$3,079$2,490$1,998$1,592$1,261$800
21 years$2,902$2,319$1,838$1,445$1,129$696
22 years$2,741$2,165$1,694$1,314$1,012$606
23 years$2,594$2,025$1,564$1,197$908$529
24 years$2,459$1,897$1,446$1,091$816$462
25 years$2,336$1,780$1,340$997$735$403
26 years$2,222$1,673$1,242$911$662$353
27 years$2,117$1,575$1,154$834$597$309
28 years$2,019$1,484$1,073$764$538$270
29 years$1,929$1,400$998$701$486$237
30 years$1,844$1,322$930$643$439$207
31 years$1,765$1,250$867$591$397$182
32 years$1,692$1,183$809$543$359$159
33 years$1,623$1,120$755$499$325$140
34 years$1,558$1,061$705$459$294$123
35 years$1,496$1,007$660$423$267$108
36 years$1,439$956$617$389$242$94
37 years$1,385$908$578$359$219$83
38 years$1,333$863$541$331$198$73
39 years$1,285$820$507$305$180$64
40 years$1,239$780$475$281$163$56
41 years$1,195$743$445$260$148$49
42 years$1,153$707$418$239$134$43
43 years$1,114$674$392$221$122$38
44 years$1,076$642$368$204$111$33
45 years$1,041$613$345$189$100$29
46 years$1,007$584$324$174$91$26
47 years$974$558$305$161$83$23
48 years$943$532$286$149$75$20
49 years$913$508$269$137$68$17
50 years$885$486$253$127$62$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $906,000, adding $2,782 every year, while hoping to spend $48,575 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: 46/41/13 Blend
59$906,000$906,000$906,000$906,000
60$1,001,282$953,264$939,221$1,043,543
61$1,051,729$948,290$919,001$1,068,153
62$1,105,694$941,445$896,476$1,089,655
63$1,163,484$932,585$871,517$1,111,906
64$1,225,436$921,559$843,990$1,134,994
65$1,291,921$908,205$813,754$1,159,018
66$1,363,344$892,355$780,662$1,184,092
67$1,440,151$873,826$744,560$1,210,343
68$1,522,832$852,429$705,288$1,237,917
69$1,611,923$827,960$662,678$1,266,974
70$1,708,015$800,206$616,553$1,297,700
71$1,811,756$768,939$566,731$1,330,301
72$1,923,859$733,921$513,021$1,365,009
73$2,045,106$694,897$455,220$1,402,086
74$2,176,359$651,598$393,122$1,441,823
75$2,318,562$603,742$326,507$1,484,551
76$2,472,758$551,027$255,146$1,530,635
77$2,640,088$493,137$178,803$1,580,488
78$2,821,813$429,736$97,229$1,634,571
79$3,019,315$360,470$10,163$1,693,397
80$3,234,117$284,965$0$1,757,542
81$3,467,894$202,826$0$1,839,125
82$3,722,489$113,634$0$1,929,633
83$3,999,931$16,950$0$2,028,494
84$4,302,450$0$0$2,136,638
85$4,632,504$0$0$2,294,664
86$4,992,796$0$0$2,475,613
87$5,386,303$0$0$2,673,347
88$5,816,302$0$0$2,889,524
89$6,286,399$0$0$3,125,971
90$6,800,566$0$0$3,384,700
91$7,363,177$0$0$3,667,925
92$7,979,045$0$0$3,978,085
93$8,653,475$0$0$4,317,868
94$9,392,304$0$0$4,690,229
95$10,201,962$0$0$5,098,427
96$11,089,533$0$0$5,546,051
97$12,062,816$0$0$6,037,050
98$13,130,401$0$0$6,575,779
99$14,301,752$0$0$7,167,031
100$15,587,289$0$0$7,816,087