Can I retire at age 60 with 945,000?

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 $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%19.4%
1 years$78,037$77,342$76,664$76,002$75,356$72,509
2 years$38,632$37,913$37,215$36,539$35,884$33,049
3 years$25,499$24,776$24,081$23,411$22,766$20,032
4 years$18,934$18,213$17,525$16,866$16,237$13,625
5 years$14,996$14,279$13,600$12,955$12,343$9,859
6 years$12,371$11,660$10,991$10,360$9,767$7,413
7 years$10,497$9,792$9,133$8,518$7,943$5,719
8 years$9,092$8,394$7,746$7,145$6,589$4,493
9 years$8,000$7,308$6,671$6,086$5,549$3,577
10 years$7,127$6,442$5,816$5,246$4,728$2,877
11 years$6,413$5,735$5,121$4,566$4,066$2,332
12 years$5,818$5,147$4,544$4,005$3,524$1,902
13 years$5,316$4,652$4,060$3,536$3,073$1,559
14 years$4,885$4,228$3,648$3,139$2,694$1,282
15 years$4,513$3,863$3,294$2,799$2,372$1,058
16 years$4,187$3,544$2,986$2,506$2,096$876
17 years$3,900$3,264$2,717$2,252$1,859$726
18 years$3,645$3,016$2,481$2,029$1,653$603
19 years$3,417$2,795$2,271$1,834$1,473$502
20 years$3,212$2,597$2,084$1,661$1,316$418
21 years$3,027$2,419$1,917$1,507$1,177$348
22 years$2,859$2,258$1,767$1,370$1,055$290
23 years$2,705$2,112$1,631$1,248$947$242
24 years$2,565$1,979$1,509$1,138$852$202
25 years$2,436$1,857$1,397$1,040$766$169
26 years$2,318$1,745$1,296$951$690$141
27 years$2,208$1,643$1,203$870$622$118
28 years$2,106$1,548$1,119$797$561$99
29 years$2,012$1,460$1,041$731$507$83
30 years$1,924$1,379$970$671$458$69
31 years$1,841$1,304$904$616$414$58
32 years$1,764$1,233$843$566$375$48
33 years$1,692$1,168$788$521$339$41
34 years$1,625$1,107$736$479$307$34
35 years$1,561$1,050$688$441$278$28
36 years$1,501$997$644$406$252$24
37 years$1,444$947$602$374$228$20
38 years$1,391$900$564$345$207$17
39 years$1,340$855$529$318$188$14
40 years$1,292$814$495$293$170$12
41 years$1,246$775$464$271$154$10
42 years$1,203$738$436$250$140$8
43 years$1,162$703$409$231$127$7
44 years$1,123$670$384$213$115$6
45 years$1,085$639$360$197$105$5
46 years$1,050$610$338$182$95$4
47 years$1,016$582$318$168$86$3
48 years$983$555$299$155$78$3
49 years$952$530$281$143$71$2
50 years$923$507$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 $945,000, adding $6,582 every year, while hoping to spend $27,208 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: 46/26/28 Blend
59$945,000$945,000$945,000$945,000
60$1,048,179$998,094$983,447$1,087,684
61$1,126,145$1,018,052$987,443$1,136,274
62$1,211,150$1,038,075$990,662$1,185,820
63$1,303,886$1,058,139$993,047$1,239,057
64$1,405,110$1,078,216$994,542$1,296,346
65$1,515,659$1,098,276$995,087$1,358,083
66$1,636,451$1,118,287$994,617$1,424,708
67$1,768,499$1,138,213$993,067$1,496,705
68$1,912,918$1,158,017$990,366$1,574,610
69$2,070,934$1,177,659$986,442$1,659,011
70$2,243,900$1,197,094$981,218$1,750,560
71$2,433,302$1,216,276$974,614$1,849,976
72$2,640,780$1,235,155$966,544$1,958,050
73$2,868,138$1,253,676$956,922$2,075,658
74$3,117,363$1,271,781$945,654$2,203,764
75$3,390,645$1,289,409$932,644$2,343,433
76$3,690,394$1,306,493$917,791$2,495,840
77$4,019,265$1,322,962$900,987$2,662,281
78$4,380,183$1,338,740$882,124$2,844,185
79$4,776,369$1,353,747$861,083$3,043,131
80$5,211,373$1,367,895$837,743$3,260,858
81$5,689,104$1,381,092$811,978$3,499,286
82$6,213,868$1,393,240$783,655$3,760,534
83$6,790,408$1,404,235$752,633$4,046,936
84$7,423,951$1,413,964$718,768$4,361,070
85$8,120,255$1,422,310$681,907$4,705,778
86$8,885,663$1,429,144$641,893$5,084,195
87$9,727,161$1,434,333$598,557$5,499,780
88$10,652,451$1,437,734$551,728$5,956,344
89$11,670,013$1,439,195$501,222$6,458,096
90$12,789,193$1,438,555$446,852$7,009,672
91$14,020,288$1,435,641$388,419$7,616,189
92$15,374,642$1,430,273$325,716$8,283,289
93$16,864,756$1,422,256$258,528$9,017,193
94$18,504,401$1,411,387$186,629$9,824,761
95$20,308,752$1,397,447$109,783$10,713,558
96$22,294,529$1,380,206$27,745$11,691,927
97$24,480,156$1,359,421$0$12,769,066
98$26,885,932$1,334,833$0$13,972,984
99$29,534,223$1,306,166$0$15,307,004
100$32,449,678$1,273,132$0$16,775,244