Can I retire at age 60 with 941,000?

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 $941,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$77,707$77,015$76,339$75,680$75,037$72,519
2 years$38,469$37,752$37,058$36,385$35,732$33,220
3 years$25,391$24,672$23,979$23,312$22,670$20,243
4 years$18,854$18,136$17,451$16,795$16,168$13,844
5 years$14,932$14,219$13,542$12,900$12,291$10,077
6 years$12,319$11,611$10,944$10,316$9,725$7,623
7 years$10,453$9,751$9,095$8,482$7,909$5,918
8 years$9,054$8,358$7,713$7,115$6,562$4,679
9 years$7,966$7,277$6,643$6,060$5,526$3,751
10 years$7,097$6,415$5,792$5,224$4,708$3,038
11 years$6,386$5,711$5,099$4,547$4,049$2,480
12 years$5,794$5,125$4,525$3,988$3,509$2,038
13 years$5,293$4,632$4,043$3,521$3,060$1,682
14 years$4,865$4,210$3,633$3,125$2,682$1,395
15 years$4,493$3,846$3,280$2,787$2,362$1,160
16 years$4,169$3,529$2,974$2,496$2,087$968
17 years$3,883$3,250$2,706$2,242$1,851$809
18 years$3,629$3,003$2,470$2,021$1,646$677
19 years$3,402$2,783$2,261$1,826$1,467$568
20 years$3,198$2,586$2,075$1,654$1,310$477
21 years$3,014$2,409$1,909$1,501$1,172$401
22 years$2,847$2,249$1,759$1,365$1,051$337
23 years$2,694$2,103$1,624$1,243$943$284
24 years$2,554$1,971$1,502$1,134$848$239
25 years$2,426$1,849$1,391$1,035$763$202
26 years$2,308$1,738$1,290$947$687$170
27 years$2,199$1,636$1,198$866$620$144
28 years$2,097$1,541$1,114$794$559$121
29 years$2,003$1,454$1,037$728$505$102
30 years$1,915$1,373$966$668$456$86
31 years$1,834$1,298$900$614$412$73
32 years$1,757$1,228$840$564$373$62
33 years$1,685$1,163$784$519$338$52
34 years$1,618$1,102$733$477$306$44
35 years$1,554$1,046$685$439$277$37
36 years$1,495$992$641$404$251$31
37 years$1,438$943$600$373$227$27
38 years$1,385$896$562$344$206$22
39 years$1,334$852$526$317$187$19
40 years$1,286$810$493$292$170$16
41 years$1,241$771$463$270$154$14
42 years$1,198$735$434$249$140$11
43 years$1,157$700$407$230$127$10
44 years$1,118$667$382$212$115$8
45 years$1,081$636$359$196$104$7
46 years$1,045$607$337$181$95$6
47 years$1,012$579$317$167$86$5
48 years$979$553$298$154$78$4
49 years$948$528$280$143$71$4
50 years$919$504$263$132$64$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $941,000, adding $4,443 every year, while hoping to spend $29,632 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: 75/18/7 Blend
59$941,000$941,000$941,000$941,000
60$1,041,565$991,692$977,106$1,118,392
61$1,116,276$1,008,757$978,311$1,186,616
62$1,197,615$1,025,664$978,563$1,257,140
63$1,286,226$1,042,376$977,799$1,333,567
64$1,382,819$1,058,850$975,953$1,416,471
65$1,488,174$1,075,041$972,955$1,506,482
66$1,603,151$1,090,902$968,733$1,604,299
67$1,728,696$1,106,379$963,209$1,710,686
68$1,865,850$1,121,419$956,303$1,826,489
69$2,015,760$1,135,962$947,933$1,952,638
70$2,179,688$1,149,945$938,009$2,090,159
71$2,359,024$1,163,299$926,440$2,240,179
72$2,555,297$1,175,954$913,129$2,403,945
73$2,770,194$1,187,833$897,975$2,582,826
74$3,005,569$1,198,852$880,873$2,778,334
75$3,263,467$1,208,925$861,711$2,992,132
76$3,546,136$1,217,958$840,375$3,226,055
77$3,856,057$1,225,853$816,742$3,482,123
78$4,195,958$1,232,503$790,686$3,762,565
79$4,568,847$1,237,796$762,075$4,069,835
80$4,978,034$1,241,613$730,769$4,406,637
81$5,427,168$1,243,827$696,625$4,775,951
82$5,920,268$1,244,303$659,490$5,181,063
83$6,461,758$1,242,897$619,206$5,625,592
84$7,056,516$1,239,458$575,608$6,113,528
85$7,709,912$1,233,823$528,523$6,649,267
86$8,427,864$1,225,821$477,769$7,237,655
87$9,216,891$1,215,271$423,159$7,884,032
88$10,084,174$1,201,979$364,495$8,594,283
89$11,037,626$1,185,742$301,571$9,374,893
90$12,085,963$1,166,342$234,173$10,233,012
91$13,238,789$1,143,551$162,076$11,176,518
92$14,506,685$1,117,125$85,045$12,214,092
93$15,901,308$1,086,806$2,836$13,355,304
94$17,435,505$1,052,322$0$14,610,700
95$19,123,425$1,013,385$0$15,998,245
96$20,980,663$969,689$0$17,525,044
97$23,024,398$920,911$0$19,205,027
98$25,273,561$866,710$0$21,053,772
99$27,749,010$806,725$0$23,088,452
100$30,473,727$740,573$0$25,327,990