Can I retire at age 60 with 944,000?

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 $944,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$77,955$77,260$76,583$75,922$75,276$72,346
2 years$38,591$37,873$37,176$36,501$35,846$32,930
3 years$25,472$24,750$24,055$23,386$22,742$19,931
4 years$18,914$18,194$17,506$16,849$16,220$13,536
5 years$14,980$14,264$13,586$12,941$12,330$9,779
6 years$12,358$11,648$10,979$10,349$9,756$7,341
7 years$10,486$9,782$9,124$8,509$7,934$5,654
8 years$9,082$8,385$7,738$7,138$6,582$4,434
9 years$7,992$7,301$6,664$6,080$5,543$3,524
10 years$7,119$6,435$5,810$5,241$4,723$2,829
11 years$6,406$5,729$5,115$4,561$4,062$2,288
12 years$5,812$5,142$4,540$4,001$3,520$1,862
13 years$5,310$4,647$4,056$3,532$3,070$1,523
14 years$4,880$4,224$3,644$3,135$2,691$1,251
15 years$4,508$3,858$3,290$2,796$2,369$1,030
16 years$4,182$3,540$2,983$2,504$2,094$850
17 years$3,895$3,260$2,714$2,250$1,857$703
18 years$3,641$3,013$2,478$2,027$1,651$583
19 years$3,413$2,792$2,268$1,832$1,471$484
20 years$3,208$2,595$2,082$1,659$1,314$402
21 years$3,023$2,417$1,915$1,506$1,176$334
22 years$2,856$2,256$1,765$1,369$1,054$278
23 years$2,703$2,110$1,630$1,247$946$232
24 years$2,562$1,977$1,507$1,137$851$193
25 years$2,434$1,855$1,396$1,039$765$161
26 years$2,315$1,744$1,295$950$689$134
27 years$2,206$1,641$1,202$869$622$112
28 years$2,104$1,546$1,118$796$561$93
29 years$2,010$1,459$1,040$730$506$78
30 years$1,922$1,378$969$670$458$65
31 years$1,839$1,302$903$616$414$54
32 years$1,763$1,232$843$566$374$45
33 years$1,691$1,167$787$520$339$38
34 years$1,623$1,106$735$479$307$32
35 years$1,559$1,049$687$441$278$26
36 years$1,499$996$643$406$252$22
37 years$1,443$946$602$374$228$18
38 years$1,389$899$564$345$207$15
39 years$1,339$855$528$318$188$13
40 years$1,291$813$495$293$170$11
41 years$1,245$774$464$270$154$9
42 years$1,202$737$435$250$140$7
43 years$1,161$702$408$230$127$6
44 years$1,122$669$383$213$115$5
45 years$1,084$638$360$196$105$4
46 years$1,049$609$338$181$95$4
47 years$1,015$581$318$168$86$3
48 years$982$555$298$155$78$3
49 years$951$530$281$143$71$2
50 years$922$506$264$132$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $944,000, adding $4,264 every year, while hoping to spend $44,432 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: 68/16/16 Blend
59$944,000$944,000$944,000$944,000
60$1,044,686$994,654$980,022$1,111,482
61$1,103,969$996,117$965,578$1,158,029
62$1,167,809$996,162$949,160$1,203,285
63$1,236,625$994,674$930,656$1,251,670
64$1,310,876$991,528$909,948$1,303,489
65$1,391,066$986,593$886,912$1,359,077
66$1,477,750$979,731$861,419$1,418,806
67$1,571,536$970,794$833,332$1,483,085
68$1,673,094$959,624$802,511$1,552,366
69$1,783,162$946,058$768,806$1,627,149
70$1,902,548$929,918$732,065$1,707,985
71$2,032,142$911,019$692,123$1,795,483
72$2,172,925$889,162$648,814$1,890,318
73$2,325,972$864,141$601,958$1,993,231
74$2,492,470$835,732$551,372$2,105,043
75$2,673,722$803,703$496,863$2,226,661
76$2,871,163$767,806$438,230$2,359,084
77$3,086,371$727,778$375,260$2,503,417
78$3,321,085$683,343$307,735$2,660,881
79$3,577,217$634,208$235,425$2,832,820
80$3,856,871$580,063$158,090$3,020,721
81$4,162,366$520,580$75,480$3,226,224
82$4,496,252$455,413$0$3,451,140
83$4,861,339$384,197$0$3,699,632
84$5,260,718$306,545$0$3,985,633
85$5,697,794$222,049$0$4,298,728
86$6,176,318$130,278$0$4,641,652
87$6,700,417$30,776$0$5,017,423
88$7,274,639$0$0$5,429,367
89$7,903,992$0$0$5,894,698
90$8,593,989$0$0$6,410,865
91$9,350,706$0$0$6,977,001
92$10,180,832$0$0$7,598,117
93$11,091,736$0$0$8,279,736
94$12,091,534$0$0$9,027,938
95$13,189,168$0$0$9,849,422
96$14,394,486$0$0$10,751,568
97$15,718,337$0$0$11,742,504
98$17,172,672$0$0$12,831,185
99$18,770,659$0$0$14,027,476
100$20,526,801$0$0$15,342,246