Can I retire at age 60 with 940,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$77,624$76,933$76,258$75,600$74,957$73,746
2 years$38,428$37,712$37,019$36,346$35,694$34,477
3 years$25,364$24,645$23,953$23,287$22,646$21,461
4 years$18,834$18,117$17,432$16,777$16,151$15,007
5 years$14,916$14,204$13,528$12,886$12,278$11,179
6 years$12,305$11,599$10,933$10,305$9,715$8,662
7 years$10,441$9,740$9,085$8,473$7,901$6,894
8 years$9,044$8,349$7,705$7,108$6,555$5,593
9 years$7,958$7,270$6,636$6,054$5,520$4,604
10 years$7,089$6,408$5,786$5,219$4,703$3,832
11 years$6,379$5,704$5,094$4,542$4,045$3,218
12 years$5,788$5,120$4,520$3,984$3,505$2,721
13 years$5,288$4,627$4,039$3,517$3,057$2,314
14 years$4,859$4,206$3,629$3,122$2,679$1,977
15 years$4,489$3,842$3,276$2,784$2,359$1,696
16 years$4,165$3,525$2,970$2,493$2,085$1,459
17 years$3,879$3,246$2,703$2,240$1,849$1,259
18 years$3,625$3,000$2,467$2,019$1,644$1,089
19 years$3,399$2,780$2,259$1,824$1,465$944
20 years$3,195$2,584$2,073$1,652$1,309$820
21 years$3,011$2,406$1,907$1,499$1,171$713
22 years$2,843$2,246$1,757$1,363$1,050$621
23 years$2,691$2,101$1,623$1,242$942$541
24 years$2,552$1,968$1,501$1,132$847$472
25 years$2,423$1,847$1,390$1,034$762$412
26 years$2,305$1,736$1,289$946$687$360
27 years$2,196$1,634$1,197$865$619$315
28 years$2,095$1,540$1,113$793$559$275
29 years$2,001$1,452$1,036$727$504$241
30 years$1,913$1,372$965$667$456$211
31 years$1,832$1,297$899$613$412$185
32 years$1,755$1,227$839$563$373$162
33 years$1,683$1,162$783$518$337$142
34 years$1,616$1,101$732$477$305$124
35 years$1,553$1,045$684$439$277$109
36 years$1,493$991$640$404$251$95
37 years$1,437$942$599$372$227$84
38 years$1,383$895$561$343$206$73
39 years$1,333$851$526$316$187$64
40 years$1,285$810$493$292$169$57
41 years$1,240$771$462$269$154$50
42 years$1,197$734$433$248$139$44
43 years$1,156$699$407$229$127$38
44 years$1,117$667$382$212$115$34
45 years$1,080$636$358$196$104$29
46 years$1,044$606$337$181$95$26
47 years$1,011$579$316$167$86$23
48 years$978$552$297$154$78$20
49 years$947$528$279$143$71$17
50 years$918$504$263$132$64$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $940,000, adding $6,394 every year, while hoping to spend $41,506 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: 47/29/24 Blend
59$940,000$940,000$940,000$940,000
60$1,042,475$992,655$978,085$1,084,057
61$1,104,646$997,133$966,689$1,118,356
62$1,171,767$1,000,440$953,520$1,150,957
63$1,244,299$1,002,473$938,475$1,185,512
64$1,322,749$1,003,126$921,446$1,222,223
65$1,407,674$1,002,284$902,319$1,261,316
66$1,499,687$999,827$880,977$1,303,043
67$1,599,461$995,624$857,295$1,347,681
68$1,707,736$989,540$831,145$1,395,541
69$1,825,327$981,429$802,390$1,446,968
70$1,953,129$971,138$770,889$1,502,343
71$2,092,128$958,503$736,494$1,562,090
72$2,243,408$943,353$699,049$1,626,680
73$2,408,162$925,503$658,394$1,696,636
74$2,587,703$904,761$614,358$1,772,536
75$2,783,475$880,920$566,765$1,855,023
76$2,997,068$853,764$515,430$1,944,808
77$3,230,232$823,062$460,160$2,042,679
78$3,484,894$788,570$400,754$2,149,512
79$3,763,175$750,032$337,001$2,266,273
80$4,067,409$707,174$268,681$2,394,035
81$4,400,168$659,708$195,565$2,533,984
82$4,764,281$607,330$117,412$2,687,436
83$5,162,866$549,717$33,973$2,855,844
84$5,599,354$486,529$0$3,040,817
85$6,077,525$417,406$0$3,258,239
86$6,601,541$341,967$0$3,506,178
87$7,175,986$259,812$0$3,778,176
88$7,805,908$170,515$0$4,076,719
89$8,496,869$73,628$0$4,404,550
90$9,254,993$0$0$4,764,696
91$10,087,026$0$0$5,170,495
92$11,000,399$0$0$5,641,867
93$12,003,298$0$0$6,159,555
94$13,104,739$0$0$6,728,226
95$14,314,657$0$0$7,353,024
96$15,643,992$0$0$8,039,616
97$17,104,801$0$0$8,794,242
98$18,710,364$0$0$9,623,779
99$20,475,312$0$0$10,535,803
100$22,415,764$0$0$11,538,662