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%12.6%
1 years$77,789$77,097$76,421$75,761$75,116$74,301
2 years$38,510$37,792$37,097$36,423$35,770$34,949
3 years$25,418$24,698$24,004$23,337$22,694$21,893
4 years$18,874$18,155$17,469$16,813$16,185$15,410
5 years$14,948$14,234$13,557$12,914$12,304$11,557
6 years$12,332$11,623$10,956$10,327$9,736$9,018
7 years$10,464$9,761$9,104$8,491$7,918$7,230
8 years$9,063$8,367$7,721$7,123$6,568$5,910
9 years$7,975$7,285$6,650$6,067$5,532$4,902
10 years$7,104$6,421$5,798$5,230$4,713$4,113
11 years$6,393$5,717$5,104$4,551$4,054$3,481
12 years$5,800$5,131$4,530$3,992$3,513$2,968
13 years$5,299$4,637$4,047$3,525$3,063$2,546
14 years$4,870$4,215$3,636$3,129$2,685$2,194
15 years$4,498$3,850$3,283$2,790$2,364$1,899
16 years$4,173$3,533$2,977$2,498$2,089$1,649
17 years$3,887$3,253$2,709$2,245$1,853$1,436
18 years$3,633$3,006$2,473$2,023$1,647$1,254
19 years$3,406$2,786$2,264$1,828$1,468$1,097
20 years$3,202$2,589$2,077$1,656$1,312$962
21 years$3,017$2,412$1,911$1,503$1,174$844
22 years$2,850$2,251$1,761$1,366$1,052$742
23 years$2,697$2,105$1,626$1,244$944$654
24 years$2,557$1,973$1,504$1,135$849$576
25 years$2,429$1,851$1,393$1,036$764$508
26 years$2,310$1,740$1,292$948$688$448
27 years$2,201$1,637$1,200$867$620$396
28 years$2,100$1,543$1,115$795$560$350
29 years$2,005$1,456$1,038$729$505$310
30 years$1,918$1,375$967$669$457$274
31 years$1,836$1,299$901$614$413$243
32 years$1,759$1,230$841$564$373$215
33 years$1,687$1,164$785$519$338$190
34 years$1,619$1,104$734$478$306$169
35 years$1,556$1,047$686$440$277$149
36 years$1,496$994$642$405$251$132
37 years$1,440$944$600$373$228$117
38 years$1,386$897$562$344$206$104
39 years$1,336$853$527$317$187$92
40 years$1,288$811$494$292$170$82
41 years$1,242$772$463$270$154$73
42 years$1,199$736$434$249$140$65
43 years$1,158$701$408$230$127$57
44 years$1,119$668$383$212$115$51
45 years$1,082$637$359$196$104$45
46 years$1,047$608$337$181$95$40
47 years$1,013$580$317$167$86$36
48 years$980$554$298$155$78$32
49 years$949$529$280$143$71$28
50 years$920$505$263$132$65$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $942,000, adding $2,267 every year, while hoping to spend $38,249 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: 58/36/6 Blend
59$942,000$942,000$942,000$942,000
60$1,040,422$990,496$975,895$1,099,378
61$1,105,849$998,334$967,891$1,147,051
62$1,176,667$1,005,274$958,337$1,194,445
63$1,253,386$1,011,231$947,140$1,245,140
64$1,336,566$1,016,117$934,205$1,299,456
65$1,426,824$1,019,835$919,429$1,357,744
66$1,524,837$1,022,284$902,707$1,420,392
67$1,631,351$1,023,355$883,927$1,487,830
68$1,747,184$1,022,936$862,974$1,560,530
69$1,873,240$1,020,902$839,727$1,639,016
70$2,010,511$1,017,127$814,058$1,723,865
71$2,160,088$1,011,471$785,834$1,815,717
72$2,323,174$1,003,791$754,917$1,915,275
73$2,501,092$993,931$721,161$2,023,319
74$2,695,298$981,727$684,414$2,140,707
75$2,907,394$967,008$644,518$2,268,389
76$3,139,145$949,588$601,306$2,407,412
77$3,392,493$929,273$554,605$2,558,936
78$3,669,577$905,857$504,234$2,724,237
79$3,972,752$879,122$450,004$2,904,726
80$4,304,610$848,837$391,716$3,101,961
81$4,668,007$814,756$329,165$3,317,663
82$5,066,087$776,622$262,135$3,553,730
83$5,502,312$734,161$190,401$3,812,258
84$5,980,495$687,083$113,727$4,095,561
85$6,504,838$635,081$31,869$4,406,192
86$7,079,964$577,833$0$4,746,970
87$7,710,970$514,997$0$5,124,558
88$8,403,468$446,210$0$5,541,247
89$9,163,638$371,091$0$5,998,799
90$9,998,291$289,236$0$6,501,415
91$10,914,927$200,219$0$7,053,729
92$11,921,809$103,590$0$7,660,852
93$13,028,041$0$0$8,328,422
94$14,243,650$0$0$9,063,106
95$15,579,684$0$0$9,915,758
96$17,048,313$0$0$10,853,119
97$18,662,947$0$0$11,883,759
98$20,438,358$0$0$13,017,118
99$22,390,822$0$0$14,263,597
100$24,538,272$0$0$15,634,658