Can I retire at age 60 with 921,000?

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 $921,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$76,055$75,378$74,717$74,072$73,442$70,836
2 years$37,651$36,950$36,270$35,611$34,972$32,375
3 years$24,851$24,147$23,469$22,817$22,188$19,680
4 years$18,453$17,751$17,080$16,438$15,825$13,426
5 years$14,615$13,917$13,255$12,626$12,030$9,746
6 years$12,057$11,364$10,712$10,097$9,519$7,353
7 years$10,230$9,544$8,901$8,301$7,741$5,692
8 years$8,861$8,181$7,549$6,964$6,422$4,487
9 years$7,797$7,123$6,502$5,932$5,408$3,586
10 years$6,946$6,278$5,669$5,113$4,608$2,895
11 years$6,250$5,589$4,991$4,450$3,963$2,356
12 years$5,671$5,017$4,429$3,903$3,434$1,929
13 years$5,181$4,534$3,957$3,446$2,995$1,587
14 years$4,761$4,121$3,555$3,059$2,625$1,312
15 years$4,398$3,764$3,210$2,728$2,311$1,087
16 years$4,080$3,454$2,910$2,443$2,043$903
17 years$3,800$3,181$2,648$2,195$1,811$752
18 years$3,552$2,939$2,418$1,978$1,611$628
19 years$3,330$2,724$2,213$1,787$1,436$524
20 years$3,130$2,531$2,031$1,619$1,282$439
21 years$2,950$2,358$1,868$1,469$1,147$367
22 years$2,786$2,201$1,722$1,336$1,029$308
23 years$2,637$2,058$1,590$1,216$923$258
24 years$2,500$1,929$1,470$1,109$830$217
25 years$2,374$1,810$1,362$1,013$747$182
26 years$2,259$1,701$1,263$926$673$153
27 years$2,152$1,601$1,173$848$606$128
28 years$2,053$1,509$1,090$777$547$108
29 years$1,961$1,423$1,015$712$494$91
30 years$1,875$1,344$945$654$446$76
31 years$1,795$1,271$881$601$404$64
32 years$1,720$1,202$822$552$365$54
33 years$1,649$1,138$768$508$330$45
34 years$1,583$1,079$717$467$299$38
35 years$1,521$1,023$670$430$271$32
36 years$1,463$971$627$396$246$27
37 years$1,408$923$587$365$223$23
38 years$1,355$877$550$336$202$19
39 years$1,306$834$515$310$183$16
40 years$1,259$793$483$286$166$14
41 years$1,215$755$453$264$151$11
42 years$1,173$719$425$243$137$10
43 years$1,132$685$398$225$124$8
44 years$1,094$653$374$208$113$7
45 years$1,058$623$351$192$102$6
46 years$1,023$594$330$177$93$5
47 years$990$567$310$164$84$4
48 years$958$541$291$151$76$3
49 years$928$517$274$140$69$3
50 years$899$494$257$129$63$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $921,000, adding $5,603 every year, while hoping to spend $28,260 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: 83/6/11 Blend
59$921,000$921,000$921,000$921,000
60$1,020,721$971,908$957,633$1,103,126
61$1,094,767$989,464$959,645$1,175,458
62$1,175,417$1,006,932$960,778$1,250,541
63$1,263,317$1,024,279$960,971$1,332,142
64$1,359,175$1,041,468$960,164$1,420,902
65$1,463,771$1,058,460$958,289$1,517,523
66$1,577,964$1,075,213$955,280$1,622,781
67$1,702,698$1,091,680$951,063$1,737,528
68$1,839,014$1,107,813$945,565$1,862,706
69$1,988,058$1,123,560$938,706$1,999,349
70$2,151,090$1,138,865$930,403$2,148,598
71$2,329,500$1,153,668$920,569$2,311,710
72$2,524,815$1,167,904$909,115$2,490,069
73$2,738,721$1,181,506$895,945$2,685,200
74$2,973,070$1,194,400$880,959$2,898,784
75$3,229,906$1,206,508$864,054$3,132,671
76$3,511,477$1,217,747$845,120$3,388,901
77$3,820,260$1,228,029$824,044$3,669,721
78$4,158,984$1,237,260$800,706$3,977,608
79$4,530,652$1,245,337$774,982$4,315,288
80$4,938,575$1,252,155$746,741$4,685,769
81$5,386,399$1,257,600$715,846$5,092,362
82$5,878,140$1,261,551$682,155$5,538,717
83$6,418,221$1,263,878$645,518$6,028,855
84$7,011,517$1,264,446$605,780$6,567,208
85$7,663,397$1,263,108$562,779$7,158,660
86$8,379,774$1,259,711$516,343$7,808,591
87$9,167,165$1,254,091$466,294$8,522,930
88$10,032,749$1,246,074$412,448$9,308,212
89$10,984,434$1,235,477$354,609$10,171,638
90$12,030,933$1,222,102$292,576$11,121,141
91$13,181,848$1,205,745$226,137$12,165,467
92$14,447,754$1,186,184$155,070$13,314,249
93$15,840,305$1,163,187$79,145$14,578,107
94$17,372,341$1,136,508$0$15,968,742
95$19,058,010$1,105,887$0$17,499,270
96$20,912,897$1,071,046$0$19,193,608
97$22,954,179$1,031,693$0$21,058,147
98$25,200,778$987,519$0$23,110,176
99$27,673,547$938,197$0$25,368,748
100$30,395,460$883,380$0$27,854,854