Can I retire at age 60 with 924,000?

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 $924,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$76,303$75,623$74,960$74,313$73,681$71,812
2 years$37,774$37,070$36,388$35,727$35,086$33,216
3 years$24,932$24,226$23,546$22,891$22,260$20,446
4 years$18,513$17,809$17,135$16,492$15,876$14,133
5 years$14,662$13,962$13,298$12,667$12,069$10,401
6 years$12,096$11,401$10,747$10,130$9,550$7,959
7 years$10,264$9,575$8,930$8,328$7,766$6,253
8 years$8,890$8,207$7,574$6,987$6,443$5,006
9 years$7,822$7,146$6,523$5,951$5,426$4,064
10 years$6,968$6,299$5,687$5,130$4,623$3,335
11 years$6,270$5,607$5,007$4,464$3,976$2,760
12 years$5,689$5,033$4,443$3,916$3,446$2,299
13 years$5,198$4,548$3,970$3,457$3,005$1,926
14 years$4,777$4,134$3,567$3,069$2,634$1,620
15 years$4,412$3,777$3,221$2,737$2,319$1,367
16 years$4,094$3,465$2,920$2,451$2,050$1,158
17 years$3,813$3,191$2,657$2,202$1,817$983
18 years$3,564$2,949$2,425$1,984$1,616$836
19 years$3,341$2,733$2,220$1,793$1,440$712
20 years$3,140$2,540$2,038$1,624$1,286$608
21 years$2,959$2,366$1,874$1,474$1,151$519
22 years$2,795$2,208$1,728$1,340$1,032$444
23 years$2,645$2,065$1,595$1,220$926$380
24 years$2,508$1,935$1,475$1,113$833$326
25 years$2,382$1,816$1,366$1,017$749$279
26 years$2,266$1,707$1,267$929$675$239
27 years$2,159$1,606$1,177$851$608$205
28 years$2,059$1,513$1,094$779$549$176
29 years$1,967$1,428$1,018$715$496$151
30 years$1,881$1,348$948$656$448$130
31 years$1,800$1,275$884$602$405$112
32 years$1,725$1,206$825$554$366$96
33 years$1,655$1,142$770$509$332$83
34 years$1,589$1,083$720$468$300$71
35 years$1,526$1,027$673$431$272$61
36 years$1,468$975$629$397$246$53
37 years$1,412$926$589$366$223$45
38 years$1,360$880$552$337$202$39
39 years$1,310$836$517$311$184$33
40 years$1,263$796$484$287$166$29
41 years$1,219$758$454$265$151$25
42 years$1,176$721$426$244$137$21
43 years$1,136$687$400$225$124$18
44 years$1,098$655$375$208$113$16
45 years$1,061$625$352$192$102$14
46 years$1,027$596$331$178$93$12
47 years$993$569$311$164$84$10
48 years$962$543$292$152$77$9
49 years$931$519$275$140$70$7
50 years$902$495$258$130$63$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $924,000, adding $2,477 every year, while hoping to spend $34,607 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: 25/49/26 Blend
59$924,000$924,000$924,000$924,000
60$1,020,803$971,831$957,509$1,037,906
61$1,088,103$982,629$952,764$1,063,015
62$1,161,108$992,797$946,700$1,086,792
63$1,240,364$1,002,266$939,237$1,111,558
64$1,326,469$1,010,965$930,289$1,137,419
65$1,420,084$1,018,817$919,769$1,164,493
66$1,521,934$1,025,741$907,583$1,192,914
67$1,632,819$1,031,650$893,635$1,222,831
68$1,753,617$1,036,451$877,822$1,254,411
69$1,885,295$1,040,047$860,038$1,287,841
70$2,028,918$1,042,332$840,172$1,323,332
71$2,185,657$1,043,195$818,108$1,361,118
72$2,356,802$1,042,520$793,722$1,401,461
73$2,543,772$1,040,180$766,888$1,444,653
74$2,748,130$1,036,042$737,472$1,491,020
75$2,971,597$1,029,966$705,335$1,540,928
76$3,216,068$1,021,801$670,331$1,594,781
77$3,483,627$1,011,390$632,308$1,653,032
78$3,776,572$998,563$591,105$1,716,185
79$4,097,432$983,143$546,557$1,784,799
80$4,448,993$964,940$498,490$1,859,500
81$4,834,322$943,754$446,721$1,940,979
82$5,256,799$919,373$391,062$2,030,009
83$5,720,143$891,573$331,313$2,127,445
84$6,228,453$860,116$267,268$2,234,240
85$6,786,244$824,750$198,710$2,351,448
86$7,398,489$785,211$125,414$2,480,245
87$8,070,663$741,215$47,144$2,621,929
88$8,808,802$692,465$0$2,777,945
89$9,619,551$638,647$0$2,959,987
90$10,510,232$579,428$0$3,174,349
91$11,488,912$514,456$0$3,409,979
92$12,564,476$443,359$0$3,669,133
93$13,746,714$365,745$0$3,954,307
94$15,046,411$281,199$0$4,268,257
95$16,475,450$189,282$0$4,614,032
96$18,046,921$89,532$0$4,994,999
97$19,775,247$0$0$5,414,880
98$21,676,321$0$0$5,887,783
99$23,767,650$0$0$6,461,297
100$26,068,526$0$0$7,092,458