Can I retire at age 60 with 943,000?

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 $943,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$77,872$77,178$76,502$75,841$75,196$74,785
2 years$38,551$37,833$37,137$36,462$35,808$35,393
3 years$25,445$24,724$24,030$23,362$22,718$22,312
4 years$18,894$18,175$17,488$16,831$16,203$15,809
5 years$14,964$14,249$13,571$12,928$12,317$11,937
6 years$12,345$11,636$10,967$10,338$9,746$9,380
7 years$10,475$9,772$9,114$8,500$7,926$7,574
8 years$9,073$8,376$7,729$7,130$6,575$6,237
9 years$7,983$7,293$6,657$6,073$5,537$5,213
10 years$7,112$6,428$5,804$5,235$4,718$4,408
11 years$6,399$5,723$5,110$4,556$4,058$3,761
12 years$5,806$5,136$4,535$3,996$3,516$3,233
13 years$5,305$4,642$4,052$3,528$3,066$2,796
14 years$4,875$4,219$3,640$3,132$2,688$2,431
15 years$4,503$3,854$3,287$2,793$2,367$2,122
16 years$4,178$3,536$2,980$2,501$2,092$1,859
17 years$3,891$3,257$2,712$2,247$1,855$1,634
18 years$3,637$3,009$2,475$2,025$1,649$1,440
19 years$3,409$2,789$2,266$1,830$1,470$1,272
20 years$3,205$2,592$2,080$1,657$1,313$1,125
21 years$3,020$2,414$1,913$1,504$1,175$998
22 years$2,853$2,254$1,763$1,368$1,053$886
23 years$2,700$2,108$1,628$1,245$945$787
24 years$2,560$1,975$1,505$1,136$850$701
25 years$2,431$1,853$1,394$1,037$765$624
26 years$2,313$1,742$1,293$949$689$557
27 years$2,203$1,639$1,201$868$621$497
28 years$2,102$1,545$1,116$795$560$444
29 years$2,007$1,457$1,039$729$506$397
30 years$1,920$1,376$968$669$457$355
31 years$1,837$1,301$902$615$413$317
32 years$1,761$1,231$842$565$374$284
33 years$1,689$1,166$786$520$338$254
34 years$1,621$1,105$734$478$306$228
35 years$1,558$1,048$687$440$277$204
36 years$1,498$995$642$405$251$183
37 years$1,441$945$601$373$228$164
38 years$1,388$898$563$344$207$147
39 years$1,337$854$527$317$187$132
40 years$1,289$812$494$293$170$118
41 years$1,244$773$464$270$154$106
42 years$1,201$736$435$249$140$95
43 years$1,160$702$408$230$127$86
44 years$1,120$669$383$212$115$77
45 years$1,083$638$360$196$105$69
46 years$1,048$608$338$181$95$62
47 years$1,014$581$317$167$86$56
48 years$981$554$298$155$78$50
49 years$950$529$280$143$71$45
50 years$921$506$263$132$65$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $943,000, adding $6,811 every year, while hoping to spend $56,607 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: 59/36/5 Blend
59$943,000$943,000$943,000$943,000
60$1,046,212$996,233$981,616$1,106,610
61$1,092,696$984,819$954,271$1,136,456
62$1,142,024$970,948$924,112$1,161,882
63$1,194,427$954,441$890,986$1,188,164
64$1,250,156$935,106$854,732$1,215,383
65$1,309,488$912,742$815,181$1,243,635
66$1,372,723$887,134$772,157$1,273,027
67$1,440,193$858,056$725,477$1,303,677
68$1,512,260$825,267$674,947$1,335,722
69$1,589,320$788,515$620,368$1,369,313
70$1,671,809$747,531$561,529$1,404,621
71$1,760,204$702,030$498,210$1,441,838
72$1,855,027$651,713$430,183$1,481,179
73$1,956,855$596,261$357,209$1,522,885
74$2,066,316$535,340$279,037$1,567,228
75$2,184,102$468,594$195,407$1,614,508
76$2,310,975$395,649$106,047$1,665,066
77$2,447,767$316,108$10,672$1,719,280
78$2,595,395$229,554$0$1,777,572
79$2,754,868$135,544$0$1,845,275
80$2,927,291$33,612$0$1,918,980
81$3,113,881$0$0$1,998,721
82$3,315,975$0$0$2,115,569
83$3,535,044$0$0$2,256,730
84$3,772,705$0$0$2,409,939
85$4,030,735$0$0$2,576,351
86$4,311,090$0$0$2,757,236
87$4,615,923$0$0$2,953,990
88$4,947,599$0$0$3,168,153
89$5,308,722$0$0$3,401,415
90$5,702,159$0$0$3,655,638
91$6,131,063$0$0$3,932,871
92$6,598,904$0$0$4,235,370
93$7,109,504$0$0$4,565,615
94$7,667,066$0$0$4,926,340
95$8,276,219$0$0$5,320,553
96$8,942,061$0$0$5,751,565
97$9,670,200$0$0$6,223,021
98$10,466,816$0$0$6,738,938
99$11,338,709$0$0$7,303,734
100$12,293,370$0$0$7,922,279