Can I retire at age 60 with 944,000?

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 $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%15.7%
1 years$77,955$77,260$76,583$75,922$75,276$73,516
2 years$38,591$37,873$37,176$36,501$35,846$34,082
3 years$25,472$24,750$24,055$23,386$22,742$21,031
4 years$18,914$18,194$17,506$16,849$16,220$14,574
5 years$14,980$14,264$13,586$12,941$12,330$10,754
6 years$12,358$11,648$10,979$10,349$9,756$8,251
7 years$10,486$9,782$9,124$8,509$7,934$6,501
8 years$9,082$8,385$7,738$7,138$6,582$5,220
9 years$7,992$7,301$6,664$6,080$5,543$4,251
10 years$7,119$6,435$5,810$5,241$4,723$3,499
11 years$6,406$5,729$5,115$4,561$4,062$2,905
12 years$5,812$5,142$4,540$4,001$3,520$2,428
13 years$5,310$4,647$4,056$3,532$3,070$2,040
14 years$4,880$4,224$3,644$3,135$2,691$1,722
15 years$4,508$3,858$3,290$2,796$2,369$1,459
16 years$4,182$3,540$2,983$2,504$2,094$1,240
17 years$3,895$3,260$2,714$2,250$1,857$1,056
18 years$3,641$3,013$2,478$2,027$1,651$901
19 years$3,413$2,792$2,268$1,832$1,471$771
20 years$3,208$2,595$2,082$1,659$1,314$660
21 years$3,023$2,417$1,915$1,506$1,176$566
22 years$2,856$2,256$1,765$1,369$1,054$486
23 years$2,703$2,110$1,630$1,247$946$418
24 years$2,562$1,977$1,507$1,137$851$359
25 years$2,434$1,855$1,396$1,039$765$309
26 years$2,315$1,744$1,295$950$689$266
27 years$2,206$1,641$1,202$869$622$230
28 years$2,104$1,546$1,118$796$561$198
29 years$2,010$1,459$1,040$730$506$171
30 years$1,922$1,378$969$670$458$147
31 years$1,839$1,302$903$616$414$127
32 years$1,763$1,232$843$566$374$110
33 years$1,691$1,167$787$520$339$95
34 years$1,623$1,106$735$479$307$82
35 years$1,559$1,049$687$441$278$71
36 years$1,499$996$643$406$252$61
37 years$1,443$946$602$374$228$53
38 years$1,389$899$564$345$207$45
39 years$1,339$855$528$318$188$39
40 years$1,291$813$495$293$170$34
41 years$1,245$774$464$270$154$29
42 years$1,202$737$435$250$140$25
43 years$1,161$702$408$230$127$22
44 years$1,122$669$383$213$115$19
45 years$1,084$638$360$196$105$16
46 years$1,049$609$338$181$95$14
47 years$1,015$581$318$168$86$12
48 years$982$555$298$155$78$11
49 years$951$530$281$143$71$9
50 years$922$506$264$132$65$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $944,000, adding $6,051 every year, while hoping to spend $46,219 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: 70/9/21 Blend
59$944,000$944,000$944,000$944,000
60$1,046,530$996,498$981,866$1,113,954
61$1,104,099$996,149$965,581$1,159,387
62$1,165,991$994,235$947,203$1,203,090
63$1,232,599$990,629$926,610$1,249,794
64$1,304,352$985,198$903,680$1,299,791
65$1,381,724$977,801$878,281$1,353,406
66$1,465,235$968,287$850,278$1,410,996
67$1,555,454$956,499$819,528$1,472,954
68$1,653,010$942,267$785,882$1,539,717
69$1,758,592$925,413$749,184$1,611,767
70$1,872,958$905,748$709,272$1,689,634
71$1,996,942$883,072$665,974$1,773,907
72$2,131,459$857,172$619,114$1,865,233
73$2,277,519$827,824$568,505$1,964,329
74$2,436,229$794,790$513,953$2,071,986
75$2,608,809$757,820$455,255$2,189,077
76$2,796,601$716,647$392,200$2,316,565
77$3,001,082$670,989$324,565$2,455,516
78$3,223,874$620,550$252,121$2,607,104
79$3,466,768$565,015$174,625$2,772,627
80$3,731,729$504,052$91,826$2,953,517
81$4,020,924$437,309$3,460$3,151,353
82$4,336,736$364,415$0$3,367,882
83$4,681,790$284,978$0$3,625,382
84$5,058,974$198,585$0$3,907,774
85$5,471,471$104,796$0$4,216,695
86$5,922,781$3,151$0$4,554,802
87$6,416,761$0$0$4,925,023
88$6,957,657$0$0$5,341,165
89$7,550,147$0$0$5,797,393
90$8,199,378$0$0$6,297,366
91$8,911,023$0$0$6,845,459
92$9,691,329$0$0$7,446,489
93$10,547,174$0$0$8,105,761
94$11,486,136$0$0$8,829,121
95$12,516,561$0$0$9,623,006
96$13,647,644$0$0$10,494,506
97$14,889,510$0$0$11,451,433
98$16,253,315$0$0$12,502,391
99$17,751,348$0$0$13,656,859
100$19,397,147$0$0$14,925,277