Can I retire at age 60 with 940,000?

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 $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%15.4%
1 years$77,624$76,933$76,258$75,600$74,957$73,294
2 years$38,428$37,712$37,019$36,346$35,694$34,027
3 years$25,364$24,645$23,953$23,287$22,646$21,027
4 years$18,834$18,117$17,432$16,777$16,151$14,593
5 years$14,916$14,204$13,528$12,886$12,278$10,785
6 years$12,305$11,599$10,933$10,305$9,715$8,289
7 years$10,441$9,740$9,085$8,473$7,901$6,542
8 years$9,044$8,349$7,705$7,108$6,555$5,262
9 years$7,958$7,270$6,636$6,054$5,520$4,292
10 years$7,089$6,408$5,786$5,219$4,703$3,540
11 years$6,379$5,704$5,094$4,542$4,045$2,944
12 years$5,788$5,120$4,520$3,984$3,505$2,466
13 years$5,288$4,627$4,039$3,517$3,057$2,076
14 years$4,859$4,206$3,629$3,122$2,679$1,756
15 years$4,489$3,842$3,276$2,784$2,359$1,491
16 years$4,165$3,525$2,970$2,493$2,085$1,269
17 years$3,879$3,246$2,703$2,240$1,849$1,084
18 years$3,625$3,000$2,467$2,019$1,644$927
19 years$3,399$2,780$2,259$1,824$1,465$795
20 years$3,195$2,584$2,073$1,652$1,309$682
21 years$3,011$2,406$1,907$1,499$1,171$586
22 years$2,843$2,246$1,757$1,363$1,050$505
23 years$2,691$2,101$1,623$1,242$942$435
24 years$2,552$1,968$1,501$1,132$847$375
25 years$2,423$1,847$1,390$1,034$762$323
26 years$2,305$1,736$1,289$946$687$279
27 years$2,196$1,634$1,197$865$619$241
28 years$2,095$1,540$1,113$793$559$208
29 years$2,001$1,452$1,036$727$504$180
30 years$1,913$1,372$965$667$456$156
31 years$1,832$1,297$899$613$412$135
32 years$1,755$1,227$839$563$373$117
33 years$1,683$1,162$783$518$337$101
34 years$1,616$1,101$732$477$305$87
35 years$1,553$1,045$684$439$277$76
36 years$1,493$991$640$404$251$65
37 years$1,437$942$599$372$227$57
38 years$1,383$895$561$343$206$49
39 years$1,333$851$526$316$187$42
40 years$1,285$810$493$292$169$37
41 years$1,240$771$462$269$154$32
42 years$1,197$734$433$248$139$28
43 years$1,156$699$407$229$127$24
44 years$1,117$667$382$212$115$21
45 years$1,080$636$358$196$104$18
46 years$1,044$606$337$181$95$16
47 years$1,011$579$316$167$86$13
48 years$978$552$297$154$78$12
49 years$947$528$279$143$71$10
50 years$918$504$263$132$64$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $940,000, adding $6,992 every year, while hoping to spend $35,554 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: 78/9/13 Blend
59$940,000$940,000$940,000$940,000
60$1,043,092$993,272$978,702$1,121,232
61$1,111,658$1,004,113$973,660$1,184,493
62$1,186,027$1,014,294$967,256$1,248,623
63$1,266,752$1,023,745$959,410$1,317,957
64$1,354,442$1,032,390$950,032$1,393,001
65$1,449,770$1,040,152$939,032$1,474,311
66$1,553,472$1,046,945$926,315$1,562,501
67$1,666,360$1,052,679$911,781$1,658,247
68$1,789,327$1,057,258$895,324$1,762,292
69$1,923,356$1,060,582$876,835$1,875,459
70$2,069,530$1,062,541$856,200$1,998,651
71$2,229,037$1,063,021$833,298$2,132,865
72$2,403,189$1,061,900$808,004$2,279,199
73$2,593,429$1,059,048$780,187$2,438,862
74$2,801,345$1,054,327$749,709$2,613,190
75$3,028,684$1,047,591$716,426$2,803,652
76$3,277,372$1,038,685$680,189$3,011,868
77$3,549,530$1,027,446$640,841$3,239,623
78$3,847,490$1,013,699$598,217$3,488,886
79$4,173,823$997,260$552,146$3,761,825
80$4,531,359$977,932$502,450$4,060,831
81$4,923,216$955,509$448,940$4,388,540
82$5,352,827$929,772$391,423$4,747,854
83$5,823,973$900,488$329,692$5,141,975
84$6,340,818$867,411$263,537$5,574,432
85$6,907,949$830,282$192,733$6,049,112
86$7,530,419$788,826$117,049$6,570,301
87$8,213,794$742,750$36,242$7,142,724
88$8,964,204$691,748$0$7,771,588
89$9,788,403$635,493$0$8,469,567
90$10,693,830$573,643$0$9,241,866
91$11,688,682$505,833$0$10,090,464
92$12,781,987$431,678$0$11,023,085
93$13,983,693$350,774$0$12,048,242
94$15,304,758$262,690$0$13,175,313
95$16,757,255$166,974$0$14,414,632
96$18,354,487$63,147$0$15,777,589
97$20,111,108$0$0$17,276,732
98$22,043,266$0$0$18,930,772
99$24,168,749$0$0$20,757,225
100$26,507,159$0$0$22,766,685