Can I retire at age 60 with 917,000?

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 $917,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$75,725$75,050$74,392$73,750$73,123$72,510
2 years$37,488$36,789$36,113$35,457$34,820$34,203
3 years$24,743$24,042$23,367$22,717$22,092$21,488
4 years$18,373$17,674$17,005$16,367$15,756$15,172
5 years$14,551$13,856$13,197$12,571$11,977$11,414
6 years$12,004$11,315$10,665$10,053$9,477$8,935
7 years$10,186$9,502$8,863$8,265$7,708$7,187
8 years$8,823$8,145$7,516$6,934$6,394$5,895
9 years$7,763$7,092$6,474$5,906$5,385$4,907
10 years$6,916$6,251$5,644$5,091$4,588$4,132
11 years$6,223$5,565$4,969$4,431$3,946$3,511
12 years$5,646$4,995$4,410$3,886$3,419$3,005
13 years$5,158$4,514$3,940$3,431$2,982$2,587
14 years$4,741$4,103$3,540$3,046$2,614$2,238
15 years$4,379$3,748$3,196$2,716$2,301$1,945
16 years$4,063$3,439$2,898$2,432$2,034$1,696
17 years$3,784$3,167$2,637$2,185$1,804$1,483
18 years$3,537$2,926$2,407$1,969$1,604$1,301
19 years$3,315$2,712$2,204$1,779$1,429$1,143
20 years$3,117$2,520$2,022$1,612$1,277$1,006
21 years$2,937$2,348$1,860$1,463$1,143$888
22 years$2,774$2,191$1,714$1,330$1,024$784
23 years$2,625$2,050$1,583$1,211$919$693
24 years$2,489$1,920$1,464$1,105$826$614
25 years$2,364$1,802$1,356$1,009$744$544
26 years$2,249$1,694$1,258$922$670$482
27 years$2,142$1,594$1,168$844$604$428
28 years$2,044$1,502$1,086$774$545$380
29 years$1,952$1,417$1,010$709$492$338
30 years$1,867$1,338$941$651$445$300
31 years$1,787$1,265$877$598$402$267
32 years$1,712$1,197$818$549$364$238
33 years$1,642$1,134$764$505$329$212
34 years$1,576$1,074$714$465$298$189
35 years$1,515$1,019$668$428$270$168
36 years$1,456$967$625$394$244$150
37 years$1,401$919$585$363$222$133
38 years$1,349$873$547$335$201$119
39 years$1,300$830$513$309$182$106
40 years$1,254$790$481$285$165$95
41 years$1,209$752$451$263$150$84
42 years$1,167$716$423$242$136$75
43 years$1,128$682$397$224$123$67
44 years$1,090$650$372$207$112$60
45 years$1,053$620$350$191$102$53
46 years$1,019$592$328$176$92$48
47 years$986$565$309$163$84$43
48 years$954$539$290$150$76$38
49 years$924$515$273$139$69$34
50 years$895$492$256$129$63$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $917,000, adding $5,305 every year, while hoping to spend $24,129 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: 75/10/15 Blend
59$917,000$917,000$917,000$917,000
60$1,016,006$967,405$953,192$1,088,505
61$1,093,966$989,135$959,450$1,158,880
62$1,179,068$1,011,121$965,110$1,232,471
63$1,272,017$1,033,350$970,126$1,312,475
64$1,373,587$1,055,807$974,448$1,399,523
65$1,484,629$1,078,478$978,028$1,494,309
66$1,606,081$1,101,344$980,813$1,597,599
67$1,738,978$1,124,386$982,746$1,710,236
68$1,884,456$1,147,583$983,770$1,833,150
69$2,043,767$1,170,912$983,824$1,967,363
70$2,218,293$1,194,347$982,843$2,114,004
71$2,409,550$1,217,862$980,760$2,274,315
72$2,619,213$1,241,426$977,504$2,449,664
73$2,849,125$1,265,008$973,002$2,641,560
74$3,101,313$1,288,571$967,176$2,851,664
75$3,378,015$1,312,079$959,944$3,081,807
76$3,681,692$1,335,491$951,222$3,334,008
77$4,015,057$1,358,762$940,920$3,610,489
78$4,381,096$1,381,844$928,944$3,913,700
79$4,783,101$1,404,688$915,197$4,246,341
80$5,224,697$1,427,238$899,576$4,611,386
81$5,709,879$1,449,435$881,974$5,012,114
82$6,243,045$1,471,215$862,279$5,452,138
83$6,829,043$1,492,512$840,372$5,935,437
84$7,473,213$1,513,253$816,132$6,466,399
85$8,181,437$1,533,359$789,430$7,049,859
86$8,960,198$1,552,748$760,130$7,691,144
87$9,816,637$1,571,332$728,093$8,396,126
88$10,758,622$1,589,014$693,172$9,171,274
89$11,794,820$1,605,695$655,212$10,023,718
90$12,934,784$1,621,266$614,053$10,961,317
91$14,189,036$1,635,612$569,528$11,992,731
92$15,569,171$1,648,610$521,461$13,127,501
93$17,087,964$1,660,131$469,668$14,376,146
94$18,759,493$1,670,034$413,958$15,750,256
95$20,599,268$1,678,171$354,132$17,262,603
96$22,624,378$1,684,386$289,980$18,927,264
97$24,853,654$1,688,512$221,285$20,759,752
98$27,307,848$1,690,369$147,818$22,777,161
99$30,009,821$1,689,770$69,343$24,998,334
100$32,984,767$1,686,513$0$27,444,032