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%14.4%
1 years$77,459$76,769$76,096$75,439$74,797$73,437
2 years$38,346$37,632$36,940$36,269$35,618$34,253
3 years$25,310$24,593$23,903$23,238$22,597$21,269
4 years$18,793$18,078$17,395$16,741$16,117$14,836
5 years$14,884$14,174$13,499$12,859$12,252$11,022
6 years$12,279$11,574$10,909$10,283$9,694$8,517
7 years$10,419$9,720$9,066$8,455$7,884$6,760
8 years$9,025$8,332$7,688$7,092$6,541$5,469
9 years$7,941$7,254$6,622$6,041$5,508$4,488
10 years$7,074$6,394$5,773$5,208$4,693$3,724
11 years$6,365$5,692$5,083$4,532$4,036$3,117
12 years$5,775$5,109$4,511$3,975$3,498$2,628
13 years$5,276$4,617$4,030$3,510$3,050$2,227
14 years$4,849$4,197$3,621$3,115$2,674$1,897
15 years$4,479$3,834$3,269$2,778$2,354$1,621
16 years$4,156$3,518$2,964$2,488$2,081$1,390
17 years$3,871$3,240$2,697$2,235$1,845$1,196
18 years$3,618$2,993$2,462$2,014$1,640$1,030
19 years$3,391$2,774$2,254$1,820$1,462$890
20 years$3,188$2,578$2,069$1,649$1,306$770
21 years$3,004$2,401$1,903$1,496$1,169$667
22 years$2,837$2,242$1,754$1,360$1,048$578
23 years$2,685$2,096$1,619$1,239$940$502
24 years$2,546$1,964$1,497$1,130$845$436
25 years$2,418$1,843$1,387$1,032$761$379
26 years$2,300$1,732$1,286$944$685$330
27 years$2,192$1,630$1,194$864$618$287
28 years$2,091$1,536$1,110$791$557$250
29 years$1,997$1,449$1,033$726$503$218
30 years$1,909$1,369$963$666$455$190
31 years$1,828$1,294$897$612$411$166
32 years$1,751$1,224$837$562$372$145
33 years$1,680$1,159$782$517$337$126
34 years$1,613$1,099$730$476$305$110
35 years$1,549$1,042$683$438$276$96
36 years$1,490$989$639$403$250$84
37 years$1,434$940$598$371$227$73
38 years$1,380$893$560$342$205$64
39 years$1,330$849$525$316$186$56
40 years$1,282$808$492$291$169$49
41 years$1,237$769$461$269$153$43
42 years$1,194$732$432$248$139$37
43 years$1,153$698$406$229$126$33
44 years$1,114$665$381$211$115$28
45 years$1,077$634$358$195$104$25
46 years$1,042$605$336$180$94$22
47 years$1,008$577$316$167$86$19
48 years$976$551$297$154$78$17
49 years$945$526$279$142$71$15
50 years$916$503$262$131$64$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $938,000, adding $3,244 every year, while hoping to spend $22,788 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: 40/42/18 Blend
59$938,000$938,000$938,000$938,000
60$1,037,022$987,308$972,769$1,072,846
61$1,118,552$1,011,440$981,111$1,122,829
62$1,207,635$1,035,991$988,968$1,174,426
63$1,305,015$1,060,956$996,300$1,229,768
64$1,411,517$1,086,333$1,003,066$1,289,207
65$1,528,043$1,112,114$1,009,220$1,353,132
66$1,655,590$1,138,295$1,014,716$1,421,970
67$1,795,254$1,164,866$1,019,503$1,496,192
68$1,948,245$1,191,819$1,023,532$1,576,316
69$2,115,892$1,219,144$1,026,746$1,662,916
70$2,299,660$1,246,829$1,029,089$1,756,620
71$2,501,163$1,274,861$1,030,501$1,858,124
72$2,722,178$1,303,225$1,030,919$1,968,192
73$2,964,661$1,331,905$1,030,276$2,087,667
74$3,230,770$1,360,882$1,028,504$2,217,480
75$3,522,879$1,390,136$1,025,529$2,358,654
76$3,843,605$1,419,644$1,021,276$2,512,318
77$4,195,828$1,449,382$1,015,664$2,679,718
78$4,582,723$1,479,322$1,008,609$2,862,225
79$5,007,787$1,509,436$1,000,025$3,061,351
80$5,474,874$1,539,690$989,818$3,278,763
81$5,988,226$1,570,050$977,892$3,516,299
82$6,552,520$1,600,478$964,146$3,775,985
83$7,172,908$1,630,932$948,475$4,060,052
84$7,855,063$1,661,366$930,768$4,370,963
85$8,605,240$1,691,734$910,910$4,711,431
86$9,430,328$1,721,982$888,778$5,084,447
87$10,337,915$1,752,053$864,246$5,493,309
88$11,336,366$1,781,888$837,182$5,941,651
89$12,434,895$1,811,419$807,447$6,433,481
90$13,643,654$1,840,578$774,896$6,973,216
91$14,973,828$1,869,288$739,377$7,565,725
92$16,437,744$1,897,468$700,731$8,216,376
93$18,048,981$1,925,032$658,793$8,931,086
94$19,822,504$1,951,886$613,390$9,716,379
95$21,774,801$1,977,930$564,340$10,579,444
96$23,924,040$2,003,058$511,455$11,528,209
97$26,290,240$2,027,155$454,536$12,571,411
98$28,895,460$2,050,101$393,379$13,718,682
99$31,764,006$2,071,765$327,766$14,980,638
100$34,922,662$2,092,009$257,474$16,368,983