Can I retire at age 60 with 938,000?

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 $938,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$77,459$76,769$76,096$75,439$74,797$73,955
2 years$38,346$37,632$36,940$36,269$35,618$34,770
3 years$25,310$24,593$23,903$23,238$22,597$21,770
4 years$18,793$18,078$17,395$16,741$16,117$15,316
5 years$14,884$14,174$13,499$12,859$12,252$11,480
6 years$12,279$11,574$10,909$10,283$9,694$8,953
7 years$10,419$9,720$9,066$8,455$7,884$7,174
8 years$9,025$8,332$7,688$7,092$6,541$5,861
9 years$7,941$7,254$6,622$6,041$5,508$4,859
10 years$7,074$6,394$5,773$5,208$4,693$4,074
11 years$6,365$5,692$5,083$4,532$4,036$3,446
12 years$5,775$5,109$4,511$3,975$3,498$2,937
13 years$5,276$4,617$4,030$3,510$3,050$2,517
14 years$4,849$4,197$3,621$3,115$2,674$2,168
15 years$4,479$3,834$3,269$2,778$2,354$1,875
16 years$4,156$3,518$2,964$2,488$2,081$1,627
17 years$3,871$3,240$2,697$2,235$1,845$1,416
18 years$3,618$2,993$2,462$2,014$1,640$1,235
19 years$3,391$2,774$2,254$1,820$1,462$1,080
20 years$3,188$2,578$2,069$1,649$1,306$946
21 years$3,004$2,401$1,903$1,496$1,169$830
22 years$2,837$2,242$1,754$1,360$1,048$729
23 years$2,685$2,096$1,619$1,239$940$642
24 years$2,546$1,964$1,497$1,130$845$565
25 years$2,418$1,843$1,387$1,032$761$498
26 years$2,300$1,732$1,286$944$685$439
27 years$2,192$1,630$1,194$864$618$388
28 years$2,091$1,536$1,110$791$557$342
29 years$1,997$1,449$1,033$726$503$303
30 years$1,909$1,369$963$666$455$267
31 years$1,828$1,294$897$612$411$237
32 years$1,751$1,224$837$562$372$209
33 years$1,680$1,159$782$517$337$185
34 years$1,613$1,099$730$476$305$164
35 years$1,549$1,042$683$438$276$145
36 years$1,490$989$639$403$250$129
37 years$1,434$940$598$371$227$114
38 years$1,380$893$560$342$205$101
39 years$1,330$849$525$316$186$90
40 years$1,282$808$492$291$169$79
41 years$1,237$769$461$269$153$70
42 years$1,194$732$432$248$139$62
43 years$1,153$698$406$229$126$55
44 years$1,114$665$381$211$115$49
45 years$1,077$634$358$195$104$43
46 years$1,042$605$336$180$94$39
47 years$1,008$577$316$167$86$34
48 years$976$551$297$154$78$30
49 years$945$526$279$142$71$27
50 years$916$503$262$131$64$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $938,000, adding $2,132 every year, while hoping to spend $34,849 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: 86/9/5 Blend
59$938,000$938,000$938,000$938,000
60$1,035,875$986,161$971,622$1,124,825
61$1,104,455$997,404$967,092$1,194,332
62$1,178,863$1,008,030$961,243$1,265,660
63$1,259,655$1,017,971$953,993$1,342,905
64$1,347,445$1,027,157$945,257$1,426,638
65$1,442,908$1,035,512$934,947$1,517,486
66$1,546,786$1,042,953$922,969$1,616,141
67$1,659,896$1,049,395$909,225$1,723,363
68$1,783,135$1,054,746$893,615$1,839,991
69$1,917,495$1,058,908$876,030$1,966,946
70$2,064,061$1,061,777$856,360$2,105,245
71$2,224,034$1,063,242$834,486$2,256,007
72$2,398,731$1,063,187$810,287$2,420,465
73$2,589,605$1,061,486$783,635$2,599,976
74$2,798,252$1,058,007$754,395$2,796,035
75$3,026,434$1,052,609$722,427$3,010,290
76$3,276,088$1,045,144$687,586$3,244,556
77$3,549,346$1,035,454$649,717$3,500,831
78$3,848,558$1,023,370$608,661$3,781,318
79$4,176,311$1,008,715$564,252$4,088,443
80$4,535,454$991,301$516,313$4,424,880
81$4,929,123$970,928$464,663$4,793,573
82$5,360,776$947,385$409,110$5,197,769
83$5,834,216$920,448$349,457$5,641,042
84$6,353,636$889,880$285,494$6,127,333
85$6,923,654$855,431$217,005$6,660,982
86$7,549,355$816,835$143,763$7,246,774
87$8,236,341$773,812$65,531$7,889,978
88$8,990,784$726,065$0$8,596,403
89$9,819,482$673,280$0$9,373,406
90$10,729,923$615,125$0$10,230,877
91$11,730,358$551,249$0$11,173,100
92$12,829,877$481,282$0$12,208,654
93$14,038,491$404,832$0$13,346,993
94$15,367,233$321,484$0$14,598,532
95$16,828,256$230,802$0$15,974,749
96$18,434,951$132,324$0$17,488,290
97$20,202,070$25,563$0$19,153,090
98$22,145,868$0$0$20,984,507
99$24,284,255$0$0$23,008,375
100$26,636,961$0$0$25,237,883