Can I retire at age 60 with 942,000?

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 $942,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$77,789$77,097$76,421$75,761$75,116$74,518
2 years$38,510$37,792$37,097$36,423$35,770$35,167
3 years$25,418$24,698$24,004$23,337$22,694$22,105
4 years$18,874$18,155$17,469$16,813$16,185$15,615
5 years$14,948$14,234$13,557$12,914$12,304$11,753
6 years$12,332$11,623$10,956$10,327$9,736$9,206
7 years$10,464$9,761$9,104$8,491$7,918$7,409
8 years$9,063$8,367$7,721$7,123$6,568$6,081
9 years$7,975$7,285$6,650$6,067$5,532$5,065
10 years$7,104$6,421$5,798$5,230$4,713$4,267
11 years$6,393$5,717$5,104$4,551$4,054$3,628
12 years$5,800$5,131$4,530$3,992$3,513$3,107
13 years$5,299$4,637$4,047$3,525$3,063$2,677
14 years$4,870$4,215$3,636$3,129$2,685$2,318
15 years$4,498$3,850$3,283$2,790$2,364$2,015
16 years$4,173$3,533$2,977$2,498$2,089$1,758
17 years$3,887$3,253$2,709$2,245$1,853$1,539
18 years$3,633$3,006$2,473$2,023$1,647$1,350
19 years$3,406$2,786$2,264$1,828$1,468$1,187
20 years$3,202$2,589$2,077$1,656$1,312$1,046
21 years$3,017$2,412$1,911$1,503$1,174$923
22 years$2,850$2,251$1,761$1,366$1,052$816
23 years$2,697$2,105$1,626$1,244$944$722
24 years$2,557$1,973$1,504$1,135$849$640
25 years$2,429$1,851$1,393$1,036$764$568
26 years$2,310$1,740$1,292$948$688$504
27 years$2,201$1,637$1,200$867$620$447
28 years$2,100$1,543$1,115$795$560$398
29 years$2,005$1,456$1,038$729$505$354
30 years$1,918$1,375$967$669$457$315
31 years$1,836$1,299$901$614$413$280
32 years$1,759$1,230$841$564$373$250
33 years$1,687$1,164$785$519$338$222
34 years$1,619$1,104$734$478$306$198
35 years$1,556$1,047$686$440$277$177
36 years$1,496$994$642$405$251$158
37 years$1,440$944$600$373$228$141
38 years$1,386$897$562$344$206$125
39 years$1,336$853$527$317$187$112
40 years$1,288$811$494$292$170$100
41 years$1,242$772$463$270$154$89
42 years$1,199$736$434$249$140$80
43 years$1,158$701$408$230$127$71
44 years$1,119$668$383$212$115$63
45 years$1,082$637$359$196$104$57
46 years$1,047$608$337$181$95$51
47 years$1,013$580$317$167$86$45
48 years$980$554$298$155$78$40
49 years$949$529$280$143$71$36
50 years$920$505$263$132$65$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $942,000, adding $2,431 every year, while hoping to spend $35,149 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: 67/26/7 Blend
59$942,000$942,000$942,000$942,000
60$1,040,592$990,666$976,065$1,108,909
61$1,109,334$1,001,810$971,364$1,165,692
62$1,183,909$1,012,322$965,329$1,223,283
63$1,264,877$1,022,135$957,876$1,285,303
64$1,352,849$1,031,174$948,920$1,352,179
65$1,448,502$1,039,364$938,371$1,424,382
66$1,552,578$1,046,621$926,135$1,502,430
67$1,665,894$1,052,859$912,113$1,586,897
68$1,789,349$1,057,983$896,203$1,678,414
69$1,923,932$1,061,894$878,296$1,777,676
70$2,070,734$1,064,487$858,279$1,885,451
71$2,230,952$1,065,650$836,035$2,002,584
72$2,405,906$1,065,264$811,439$2,130,009
73$2,597,048$1,063,202$784,362$2,268,753
74$2,805,977$1,059,329$754,668$2,419,952
75$3,034,454$1,053,504$722,217$2,584,857
76$3,284,418$1,045,574$686,860$2,764,846
77$3,558,001$1,035,380$648,443$2,961,440
78$3,857,555$1,022,752$606,804$3,176,318
79$4,185,668$1,007,509$561,774$3,411,328
80$4,545,190$989,460$513,177$3,668,511
81$4,939,259$968,404$460,828$3,950,115
82$5,371,333$944,125$404,535$4,258,621
83$5,845,218$916,397$344,097$4,596,763
84$6,365,110$884,979$279,303$4,967,558
85$6,935,626$849,618$209,935$5,374,330
86$7,561,855$810,044$135,763$5,820,748
87$8,249,401$765,974$56,548$6,310,853
88$9,004,439$717,105$0$6,849,106
89$9,833,768$663,120$0$7,442,511
90$10,744,882$603,683$0$8,099,043
91$11,746,034$538,437$0$8,820,471
92$12,846,316$467,007$0$9,613,404
93$14,055,746$388,996$0$10,485,132
94$15,385,360$303,984$0$11,443,688
95$16,847,315$211,529$0$12,497,929
96$18,455,009$111,161$0$13,657,617
97$20,223,200$2,388$0$14,933,514
98$22,168,148$0$0$16,337,485
99$24,307,769$0$0$17,915,599
100$26,661,804$0$0$19,652,675