Can I retire at age 60 with 931,000?

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 $931,000?

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$76,881$76,196$75,528$74,876$74,239$73,617
2 years$38,060$37,351$36,664$35,998$35,352$34,725
3 years$25,121$24,409$23,724$23,064$22,429$21,816
4 years$18,653$17,943$17,265$16,617$15,996$15,403
5 years$14,773$14,068$13,398$12,763$12,160$11,588
6 years$12,188$11,487$10,828$10,207$9,622$9,072
7 years$10,341$9,647$8,998$8,392$7,825$7,297
8 years$8,957$8,269$7,631$7,039$6,492$5,985
9 years$7,882$7,200$6,573$5,996$5,467$4,982
10 years$7,021$6,346$5,730$5,169$4,658$4,195
11 years$6,318$5,650$5,045$4,498$4,006$3,564
12 years$5,732$5,071$4,477$3,946$3,472$3,050
13 years$5,237$4,583$4,000$3,483$3,027$2,626
14 years$4,813$4,166$3,594$3,092$2,654$2,273
15 years$4,446$3,805$3,245$2,758$2,337$1,975
16 years$4,125$3,491$2,942$2,469$2,065$1,722
17 years$3,842$3,215$2,677$2,219$1,831$1,506
18 years$3,591$2,971$2,444$1,999$1,628$1,320
19 years$3,366$2,754$2,237$1,807$1,451$1,160
20 years$3,164$2,559$2,053$1,636$1,296$1,022
21 years$2,982$2,383$1,889$1,485$1,160$901
22 years$2,816$2,225$1,741$1,350$1,040$796
23 years$2,665$2,081$1,607$1,230$933$704
24 years$2,527$1,950$1,486$1,121$839$623
25 years$2,400$1,830$1,377$1,024$755$552
26 years$2,283$1,720$1,277$936$680$490
27 years$2,175$1,618$1,186$857$613$435
28 years$2,075$1,525$1,102$785$553$386
29 years$1,982$1,439$1,026$720$499$343
30 years$1,895$1,359$955$661$451$305
31 years$1,814$1,284$891$607$408$271
32 years$1,738$1,215$831$558$369$241
33 years$1,667$1,151$776$513$334$215
34 years$1,601$1,091$725$472$302$191
35 years$1,538$1,035$678$435$274$171
36 years$1,479$982$634$400$248$152
37 years$1,423$933$593$369$225$135
38 years$1,370$886$556$340$204$121
39 years$1,320$843$521$313$185$108
40 years$1,273$802$488$289$168$96
41 years$1,228$763$458$267$152$86
42 years$1,185$727$429$246$138$76
43 years$1,145$693$403$227$125$68
44 years$1,106$660$378$210$114$61
45 years$1,069$630$355$194$103$54
46 years$1,034$601$333$179$94$48
47 years$1,001$573$313$165$85$43
48 years$969$547$294$153$77$39
49 years$938$522$277$141$70$34
50 years$909$499$260$130$64$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $931,000, adding $6,730 every year, while hoping to spend $51,141 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: 48/32/20 Blend
59$931,000$931,000$931,000$931,000
60$1,032,904$983,561$969,130$1,076,351
61$1,083,847$977,342$947,183$1,101,050
62$1,138,271$969,104$922,786$1,122,153
63$1,196,479$958,694$895,803$1,143,997
64$1,258,801$945,951$866,093$1,166,674
65$1,325,598$930,702$833,507$1,190,287
66$1,397,268$912,765$797,888$1,214,952
67$1,474,247$891,948$759,075$1,240,803
68$1,557,013$868,047$716,897$1,267,989
69$1,646,091$840,844$671,176$1,296,678
70$1,742,059$810,112$621,727$1,327,061
71$1,845,550$775,609$568,356$1,359,351
72$1,957,259$737,077$510,859$1,393,789
73$2,077,952$694,246$449,026$1,430,644
74$2,208,469$646,830$382,634$1,470,220
75$2,349,733$594,525$311,452$1,512,855
76$2,502,761$537,011$235,240$1,558,930
77$2,668,667$473,950$153,746$1,608,869
78$2,848,681$404,983$66,706$1,663,148
79$3,044,153$329,733$0$1,722,298
80$3,256,567$247,800$0$1,792,498
81$3,487,557$158,763$0$1,884,376
82$3,738,921$62,176$0$1,984,484
83$4,012,637$0$0$2,093,709
84$4,310,881$0$0$2,227,977
85$4,636,047$0$0$2,398,329
86$4,990,773$0$0$2,584,265
87$5,377,959$0$0$2,787,318
88$5,800,798$0$0$3,009,175
89$6,262,808$0$0$3,251,694
90$6,767,858$0$0$3,516,921
91$7,320,209$0$0$3,807,108
92$7,924,554$0$0$4,124,736
93$8,586,060$0$0$4,472,534
94$9,310,415$0$0$4,853,511
95$10,103,884$0$0$5,270,977
96$10,973,367$0$0$5,728,582
97$11,926,463$0$0$6,230,340
98$12,971,539$0$0$6,780,678
99$14,117,813$0$0$7,384,468
100$15,375,437$0$0$8,047,077