Can I retire at age 60 with 946,000?

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 $946,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$78,120$77,424$76,745$76,082$75,435$72,528
2 years$38,673$37,953$37,255$36,578$35,922$33,027
3 years$25,526$24,803$24,106$23,436$22,790$20,000
4 years$18,954$18,233$17,543$16,884$16,254$13,589
5 years$15,011$14,295$13,614$12,969$12,356$9,823
6 years$12,384$11,673$11,002$10,371$9,777$7,378
7 years$10,508$9,803$9,143$8,527$7,951$5,685
8 years$9,102$8,403$7,754$7,153$6,596$4,461
9 years$8,008$7,316$6,679$6,093$5,555$3,548
10 years$7,134$6,449$5,822$5,252$4,733$2,850
11 years$6,420$5,741$5,126$4,571$4,071$2,307
12 years$5,825$5,153$4,549$4,009$3,528$1,879
13 years$5,321$4,657$4,064$3,539$3,076$1,538
14 years$4,890$4,233$3,652$3,142$2,697$1,263
15 years$4,517$3,867$3,297$2,802$2,374$1,041
16 years$4,191$3,548$2,989$2,509$2,098$860
17 years$3,904$3,267$2,720$2,254$1,861$712
18 years$3,648$3,019$2,483$2,032$1,654$591
19 years$3,420$2,798$2,273$1,836$1,475$490
20 years$3,215$2,600$2,086$1,663$1,317$408
21 years$3,030$2,422$1,919$1,509$1,179$339
22 years$2,862$2,261$1,769$1,372$1,056$283
23 years$2,708$2,114$1,633$1,249$948$236
24 years$2,568$1,981$1,510$1,140$852$196
25 years$2,439$1,859$1,399$1,041$767$164
26 years$2,320$1,747$1,297$952$691$137
27 years$2,210$1,644$1,205$871$623$114
28 years$2,108$1,549$1,120$798$562$95
29 years$2,014$1,462$1,042$732$508$80
30 years$1,926$1,380$971$672$459$67
31 years$1,843$1,305$905$617$415$56
32 years$1,766$1,235$844$567$375$46
33 years$1,694$1,169$788$521$339$39
34 years$1,626$1,108$737$480$307$32
35 years$1,563$1,051$689$442$278$27
36 years$1,502$998$644$407$252$23
37 years$1,446$948$603$375$229$19
38 years$1,392$901$565$345$207$16
39 years$1,341$856$529$318$188$13
40 years$1,293$815$496$294$170$11
41 years$1,248$776$465$271$155$9
42 years$1,204$739$436$250$140$8
43 years$1,163$704$409$231$127$6
44 years$1,124$671$384$213$116$5
45 years$1,087$640$361$197$105$5
46 years$1,051$610$339$182$95$4
47 years$1,017$582$318$168$87$3
48 years$984$556$299$155$79$3
49 years$953$531$281$143$71$2
50 years$924$507$264$133$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $946,000, adding $4,934 every year, while hoping to spend $35,498 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: 50/45/5 Blend
59$946,000$946,000$946,000$946,000
60$1,047,581$997,443$982,780$1,098,465
61$1,116,665$1,008,549$977,934$1,144,725
62$1,191,606$1,019,008$971,735$1,190,723
63$1,272,963$1,028,753$964,102$1,239,848
64$1,361,353$1,037,709$954,947$1,292,400
65$1,457,452$1,045,799$944,180$1,348,711
66$1,562,007$1,052,938$931,704$1,409,147
67$1,675,838$1,059,038$917,422$1,474,113
68$1,799,846$1,064,003$901,228$1,544,055
69$1,935,024$1,067,733$883,014$1,619,469
70$2,082,467$1,070,122$862,664$1,700,899
71$2,243,375$1,071,055$840,060$1,788,950
72$2,419,074$1,070,411$815,077$1,884,286
73$2,611,020$1,068,062$787,583$1,987,644
74$2,820,819$1,063,872$757,442$2,099,836
75$3,050,236$1,057,696$724,510$2,221,761
76$3,301,218$1,049,380$688,639$2,354,411
77$3,575,906$1,038,763$649,671$2,498,879
78$3,876,657$1,025,671$607,444$2,656,377
79$4,206,069$1,009,922$561,787$2,828,241
80$4,567,002$991,323$512,521$3,015,944
81$4,962,606$969,667$459,459$3,221,117
82$5,396,348$944,737$402,408$3,445,559
83$5,872,051$916,305$341,164$3,691,255
84$6,393,922$884,125$275,514$3,960,399
85$6,966,595$847,940$205,237$4,255,411
86$7,595,176$807,478$130,102$4,578,963
87$8,285,290$762,450$49,865$4,934,007
88$9,043,130$712,551$0$5,323,799
89$9,875,521$657,458$0$5,753,840
90$10,789,981$596,830$0$6,229,153
91$11,794,792$530,307$0$6,751,469
92$12,899,076$457,508$0$7,325,634
93$14,112,885$378,029$0$7,956,997
94$15,447,294$291,447$0$8,651,459
95$16,914,501$197,311$0$9,415,530
96$18,527,948$95,147$0$10,256,392
97$20,302,445$0$0$11,181,968
98$22,254,306$0$0$12,208,697
99$24,401,509$0$0$13,390,123
100$26,763,860$0$0$14,690,042