Can I retire at age 60 with 945,000?

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 $945,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$78,037$77,342$76,664$76,002$75,356$72,973
2 years$38,632$37,913$37,215$36,539$35,884$33,504
3 years$25,499$24,776$24,081$23,411$22,766$20,465
4 years$18,934$18,213$17,525$16,866$16,237$14,032
5 years$14,996$14,279$13,600$12,955$12,343$10,240
6 years$12,371$11,660$10,991$10,360$9,767$7,768
7 years$10,497$9,792$9,133$8,518$7,943$6,047
8 years$9,092$8,394$7,746$7,145$6,589$4,796
9 years$8,000$7,308$6,671$6,086$5,549$3,856
10 years$7,127$6,442$5,816$5,246$4,728$3,133
11 years$6,413$5,735$5,121$4,566$4,066$2,566
12 years$5,818$5,147$4,544$4,005$3,524$2,115
13 years$5,316$4,652$4,060$3,536$3,073$1,752
14 years$4,885$4,228$3,648$3,139$2,694$1,458
15 years$4,513$3,863$3,294$2,799$2,372$1,217
16 years$4,187$3,544$2,986$2,506$2,096$1,019
17 years$3,900$3,264$2,717$2,252$1,859$855
18 years$3,645$3,016$2,481$2,029$1,653$718
19 years$3,417$2,795$2,271$1,834$1,473$605
20 years$3,212$2,597$2,084$1,661$1,316$510
21 years$3,027$2,419$1,917$1,507$1,177$430
22 years$2,859$2,258$1,767$1,370$1,055$363
23 years$2,705$2,112$1,631$1,248$947$307
24 years$2,565$1,979$1,509$1,138$852$260
25 years$2,436$1,857$1,397$1,040$766$220
26 years$2,318$1,745$1,296$951$690$186
27 years$2,208$1,643$1,203$870$622$158
28 years$2,106$1,548$1,119$797$561$134
29 years$2,012$1,460$1,041$731$507$113
30 years$1,924$1,379$970$671$458$96
31 years$1,841$1,304$904$616$414$81
32 years$1,764$1,233$843$566$375$69
33 years$1,692$1,168$788$521$339$59
34 years$1,625$1,107$736$479$307$50
35 years$1,561$1,050$688$441$278$42
36 years$1,501$997$644$406$252$36
37 years$1,444$947$602$374$228$30
38 years$1,391$900$564$345$207$26
39 years$1,340$855$529$318$188$22
40 years$1,292$814$495$293$170$19
41 years$1,246$775$464$271$154$16
42 years$1,203$738$436$250$140$13
43 years$1,162$703$409$231$127$11
44 years$1,123$670$384$213$115$10
45 years$1,085$639$360$197$105$8
46 years$1,050$610$338$182$95$7
47 years$1,016$582$318$168$86$6
48 years$983$555$299$155$78$5
49 years$952$530$281$143$71$4
50 years$923$507$264$132$65$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $945,000, adding $6,308 every year, while hoping to spend $31,900 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: 69/22/9 Blend
59$945,000$945,000$945,000$945,000
60$1,047,897$997,812$983,164$1,117,976
61$1,120,841$1,012,763$982,159$1,180,203
62$1,200,156$1,027,378$980,051$1,243,779
63$1,286,459$1,041,606$976,769$1,312,473
64$1,380,427$1,055,394$972,240$1,386,781
65$1,482,806$1,068,684$966,386$1,467,249
66$1,594,417$1,081,415$959,125$1,554,481
67$1,716,165$1,093,521$950,372$1,649,140
68$1,849,042$1,104,933$940,039$1,751,959
69$1,994,145$1,115,575$928,031$1,863,743
70$2,152,679$1,125,368$914,250$1,985,382
71$2,325,969$1,134,228$898,595$2,117,856
72$2,515,477$1,142,065$880,957$2,262,245
73$2,722,811$1,148,781$861,224$2,419,738
74$2,949,741$1,154,275$839,279$2,591,649
75$3,198,219$1,158,439$814,999$2,779,424
76$3,470,391$1,161,156$788,255$2,984,656
77$3,768,622$1,162,304$758,912$3,209,104
78$4,095,516$1,161,751$726,831$3,454,704
79$4,453,942$1,159,361$691,863$3,723,592
80$4,847,059$1,154,985$653,856$4,018,123
81$5,278,347$1,148,466$612,647$4,340,891
82$5,751,638$1,139,641$568,071$4,694,756
83$6,271,154$1,128,332$519,950$5,082,872
84$6,841,546$1,114,355$468,102$5,508,716
85$7,467,935$1,097,510$412,336$5,976,120
86$8,155,966$1,077,589$352,450$6,489,306
87$8,911,854$1,054,371$288,237$7,052,933
88$9,742,449$1,027,620$219,478$7,672,133
89$10,655,293$997,088$145,946$8,352,564
90$11,658,701$962,513$67,402$9,100,464
91$12,761,827$923,615$0$9,922,709
92$13,974,762$880,100$0$10,828,454
93$15,308,619$831,657$0$11,831,488
94$16,775,646$777,956$0$12,934,567
95$18,389,334$718,648$0$14,147,870
96$20,164,549$653,365$0$15,482,615
97$22,117,670$581,717$0$16,951,167
98$24,266,745$503,293$0$18,567,152
99$26,631,657$417,659$0$20,345,592
100$29,234,315$324,354$0$22,303,037