Can I retire at age 60 with 929,000?

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 $929,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$76,716$76,033$75,366$74,715$74,080$73,520
2 years$37,978$37,271$36,585$35,921$35,276$34,712
3 years$25,067$24,357$23,673$23,015$22,381$21,830
4 years$18,613$17,905$17,228$16,581$15,962$15,428
5 years$14,742$14,038$13,370$12,736$12,134$11,619
6 years$12,161$11,463$10,805$10,185$9,601$9,105
7 years$10,319$9,626$8,979$8,374$7,808$7,332
8 years$8,938$8,252$7,615$7,024$6,478$6,021
9 years$7,865$7,185$6,559$5,983$5,455$5,018
10 years$7,006$6,333$5,718$5,158$4,648$4,230
11 years$6,304$5,638$5,034$4,489$3,998$3,599
12 years$5,720$5,060$4,467$3,937$3,464$3,084
13 years$5,226$4,573$3,991$3,476$3,021$2,658
14 years$4,803$4,157$3,586$3,086$2,648$2,303
15 years$4,436$3,797$3,238$2,752$2,332$2,004
16 years$4,116$3,484$2,936$2,464$2,061$1,750
17 years$3,833$3,208$2,671$2,214$1,827$1,533
18 years$3,583$2,965$2,439$1,995$1,625$1,346
19 years$3,359$2,748$2,232$1,803$1,448$1,184
20 years$3,157$2,553$2,049$1,633$1,293$1,044
21 years$2,975$2,378$1,884$1,482$1,157$922
22 years$2,810$2,220$1,737$1,347$1,037$816
23 years$2,660$2,076$1,604$1,227$931$723
24 years$2,522$1,945$1,483$1,119$837$641
25 years$2,395$1,826$1,374$1,022$753$569
26 years$2,278$1,716$1,274$934$678$505
27 years$2,171$1,615$1,183$855$612$449
28 years$2,071$1,522$1,100$784$552$399
29 years$1,978$1,435$1,023$719$498$356
30 years$1,891$1,356$953$660$450$317
31 years$1,810$1,282$889$606$407$282
32 years$1,735$1,213$829$557$368$252
33 years$1,664$1,148$774$512$333$224
34 years$1,597$1,088$723$471$302$200
35 years$1,534$1,032$676$434$273$179
36 years$1,475$980$633$399$248$159
37 years$1,420$931$592$368$224$142
38 years$1,367$884$555$339$203$127
39 years$1,317$841$520$313$185$113
40 years$1,270$800$487$288$167$101
41 years$1,225$762$457$266$152$91
42 years$1,183$725$428$246$138$81
43 years$1,142$691$402$227$125$72
44 years$1,104$659$377$209$114$65
45 years$1,067$628$354$193$103$58
46 years$1,032$599$333$179$94$52
47 years$999$572$313$165$85$46
48 years$967$546$294$152$77$41
49 years$936$521$276$141$70$37
50 years$907$498$260$130$64$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $929,000, adding $5,192 every year, while hoping to spend $26,655 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: 60/15/25 Blend
59$929,000$929,000$929,000$929,000
60$1,029,114$979,877$965,477$1,083,677
61$1,105,722$999,530$969,460$1,141,046
62$1,189,252$1,019,253$972,683$1,200,280
63$1,280,380$1,039,020$975,092$1,264,338
64$1,379,853$1,058,806$976,631$1,333,693
65$1,488,491$1,078,581$977,242$1,408,870
66$1,607,199$1,098,314$976,862$1,490,444
67$1,736,973$1,117,970$975,425$1,579,052
68$1,878,907$1,137,513$972,865$1,675,395
69$2,034,208$1,156,904$969,109$1,780,247
70$2,204,205$1,176,100$964,082$1,894,458
71$2,390,361$1,195,056$957,705$2,018,971
72$2,594,286$1,213,723$949,897$2,154,819
73$2,817,755$1,232,047$940,571$2,303,148
74$3,062,722$1,249,973$929,636$2,465,215
75$3,331,339$1,267,441$916,997$2,642,410
76$3,625,975$1,284,385$902,557$2,836,265
77$3,949,242$1,300,738$886,210$3,048,468
78$4,304,015$1,316,424$867,847$3,280,880
79$4,693,460$1,331,365$847,357$3,535,555
80$5,121,068$1,345,477$824,618$3,814,755
81$5,590,682$1,358,670$799,508$4,120,975
82$6,106,535$1,370,848$771,895$4,456,967
83$6,673,292$1,381,910$741,643$4,825,762
84$7,296,090$1,391,746$708,611$5,230,705
85$7,980,591$1,400,241$672,649$5,675,482
86$8,733,030$1,407,271$633,601$6,164,157
87$9,560,278$1,412,707$591,306$6,701,210
88$10,469,904$1,416,407$545,593$7,291,580
89$11,470,249$1,418,225$496,284$7,940,713
90$12,570,499$1,418,004$443,195$8,654,610
91$13,780,779$1,415,575$386,131$9,439,890
92$15,112,243$1,410,762$324,890$10,303,848
93$16,577,179$1,403,377$259,262$11,254,525
94$18,189,129$1,393,220$189,024$12,300,785
95$19,963,011$1,380,079$113,948$13,452,402
96$21,915,265$1,363,730$33,792$14,720,147
97$24,064,004$1,343,934$0$16,115,894
98$26,429,185$1,320,440$0$17,666,537
99$29,032,801$1,292,981$0$19,383,216
100$31,899,083$1,261,272$0$21,272,885