Can I retire at age 60 with 947,000?

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 $947,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$78,202$77,506$76,826$76,163$75,515$73,156
2 years$38,714$37,993$37,294$36,617$35,960$33,604
3 years$25,553$24,829$24,132$23,461$22,814$20,536
4 years$18,974$18,252$17,562$16,902$16,271$14,088
5 years$15,027$14,310$13,629$12,982$12,369$10,286
6 years$12,397$11,685$11,014$10,382$9,787$7,807
7 years$10,519$9,813$9,153$8,536$7,960$6,081
8 years$9,111$8,412$7,762$7,160$6,603$4,826
9 years$8,017$7,324$6,686$6,099$5,561$3,883
10 years$7,142$6,456$5,829$5,257$4,738$3,156
11 years$6,427$5,747$5,131$4,576$4,075$2,587
12 years$5,831$5,158$4,554$4,013$3,531$2,134
13 years$5,327$4,661$4,069$3,543$3,079$1,769
14 years$4,896$4,237$3,656$3,145$2,699$1,473
15 years$4,522$3,871$3,301$2,805$2,377$1,230
16 years$4,196$3,551$2,993$2,512$2,101$1,031
17 years$3,908$3,271$2,723$2,257$1,863$865
18 years$3,652$3,022$2,486$2,034$1,656$728
19 years$3,424$2,801$2,276$1,838$1,476$613
20 years$3,219$2,603$2,088$1,664$1,318$517
21 years$3,033$2,424$1,921$1,510$1,180$437
22 years$2,865$2,263$1,771$1,373$1,058$369
23 years$2,711$2,117$1,635$1,251$949$312
24 years$2,571$1,983$1,512$1,141$853$264
25 years$2,442$1,861$1,400$1,042$768$224
26 years$2,323$1,749$1,299$953$692$190
27 years$2,213$1,646$1,206$872$624$161
28 years$2,111$1,551$1,121$799$563$136
29 years$2,016$1,463$1,043$733$508$116
30 years$1,928$1,382$972$672$459$98
31 years$1,845$1,306$906$617$415$83
32 years$1,768$1,236$845$567$375$71
33 years$1,696$1,171$789$522$340$60
34 years$1,628$1,109$737$480$308$51
35 years$1,564$1,052$689$442$279$43
36 years$1,504$999$645$407$252$37
37 years$1,447$949$604$375$229$31
38 years$1,394$902$565$346$207$27
39 years$1,343$857$530$319$188$23
40 years$1,295$816$496$294$171$19
41 years$1,249$776$465$271$155$16
42 years$1,206$739$437$250$140$14
43 years$1,164$705$410$231$127$12
44 years$1,125$672$385$213$116$10
45 years$1,088$640$361$197$105$8
46 years$1,052$611$339$182$95$7
47 years$1,018$583$319$168$87$6
48 years$985$557$299$155$79$5
49 years$954$531$281$144$71$4
50 years$925$508$265$133$65$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $947,000, adding $4,620 every year, while hoping to spend $31,736 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: 76/18/6 Blend
59$947,000$947,000$947,000$947,000
60$1,048,360$998,169$983,490$1,127,061
61$1,121,525$1,013,312$982,670$1,194,552
62$1,201,090$1,028,134$980,759$1,263,964
63$1,287,674$1,042,585$977,687$1,339,114
64$1,381,957$1,056,612$973,380$1,420,560
65$1,484,690$1,070,159$967,761$1,508,913
66$1,596,698$1,083,166$960,750$1,604,849
67$1,718,888$1,095,568$952,263$1,709,111
68$1,852,260$1,107,297$942,209$1,822,518
69$1,997,915$1,118,279$930,497$1,945,971
70$2,157,063$1,128,435$917,030$2,080,464
71$2,331,039$1,137,684$901,706$2,227,092
72$2,521,309$1,145,935$884,417$2,387,061
73$2,729,491$1,153,094$865,054$2,561,701
74$2,957,365$1,159,061$843,498$2,752,476
75$3,206,889$1,163,728$819,629$2,960,999
76$3,480,223$1,166,982$793,318$3,189,050
77$3,779,744$1,168,702$764,431$3,438,588
78$4,108,068$1,168,759$732,830$3,711,771
79$4,468,079$1,167,016$698,369$4,010,981
80$4,862,953$1,163,330$660,894$4,338,840
81$5,296,187$1,157,545$620,246$4,698,239
82$5,771,632$1,149,499$576,258$5,092,361
83$6,293,533$1,139,019$528,757$5,524,720
84$6,866,563$1,125,921$477,561$5,999,182
85$7,495,872$1,110,010$422,478$6,520,012
86$8,187,131$1,091,080$363,311$7,091,910
87$8,946,589$1,068,914$299,853$7,720,055
88$9,781,129$1,043,279$231,886$8,410,155
89$10,698,335$1,013,931$159,185$9,168,500
90$11,706,561$980,609$81,514$10,002,026
91$12,815,012$943,041$0$10,918,373
92$14,033,828$900,934$0$11,926,052
93$15,374,181$853,983$0$13,039,832
94$16,848,380$801,861$0$14,264,738
95$18,469,988$744,225$0$15,612,062
96$20,253,946$680,712$0$17,094,251
97$22,216,719$610,937$0$18,725,020
98$24,376,447$534,495$0$20,519,487
99$26,753,115$450,956$0$22,494,309
100$29,368,748$359,868$0$24,667,845