Can I retire at age 60 with 948,000?

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 $948,000?

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$78,285$77,588$76,907$76,243$75,595$73,234
2 years$38,755$38,033$37,334$36,655$35,998$33,640
3 years$25,580$24,855$24,157$23,485$22,838$20,558
4 years$18,994$18,271$17,580$16,920$16,288$14,103
5 years$15,043$14,325$13,643$12,996$12,382$10,297
6 years$12,410$11,697$11,026$10,393$9,798$7,815
7 years$10,530$9,823$9,162$8,545$7,968$6,088
8 years$9,121$8,420$7,770$7,168$6,610$4,831
9 years$8,025$7,331$6,693$6,106$5,567$3,887
10 years$7,149$6,462$5,835$5,263$4,743$3,160
11 years$6,433$5,753$5,137$4,580$4,079$2,590
12 years$5,837$5,164$4,559$4,018$3,535$2,136
13 years$5,333$4,666$4,073$3,547$3,083$1,771
14 years$4,901$4,242$3,660$3,149$2,702$1,474
15 years$4,527$3,875$3,304$2,808$2,379$1,232
16 years$4,200$3,555$2,996$2,514$2,103$1,032
17 years$3,912$3,274$2,726$2,259$1,864$866
18 years$3,656$3,025$2,488$2,036$1,658$729
19 years$3,427$2,804$2,278$1,840$1,478$614
20 years$3,222$2,606$2,091$1,666$1,320$518
21 years$3,036$2,427$1,923$1,512$1,181$437
22 years$2,868$2,265$1,772$1,375$1,059$370
23 years$2,714$2,119$1,636$1,252$950$313
24 years$2,573$1,985$1,513$1,142$854$265
25 years$2,444$1,863$1,402$1,043$769$224
26 years$2,325$1,751$1,300$954$692$190
27 years$2,215$1,648$1,207$873$624$161
28 years$2,113$1,553$1,122$800$563$137
29 years$2,018$1,465$1,044$733$509$116
30 years$1,930$1,383$973$673$460$98
31 years$1,847$1,308$907$618$415$83
32 years$1,770$1,237$846$568$376$71
33 years$1,698$1,172$790$522$340$60
34 years$1,630$1,111$738$481$308$51
35 years$1,566$1,053$690$442$279$43
36 years$1,506$1,000$646$407$253$37
37 years$1,449$950$604$375$229$31
38 years$1,395$902$566$346$208$27
39 years$1,344$858$530$319$188$23
40 years$1,296$816$497$294$171$19
41 years$1,250$777$466$272$155$16
42 years$1,207$740$437$251$141$14
43 years$1,166$705$410$231$128$12
44 years$1,126$672$385$214$116$10
45 years$1,089$641$362$197$105$8
46 years$1,053$612$340$182$95$7
47 years$1,019$584$319$168$87$6
48 years$987$557$300$156$79$5
49 years$955$532$282$144$72$4
50 years$926$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 $948,000, adding $3,612 every year, while hoping to spend $45,286 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: 64/16/20 Blend
59$948,000$948,000$948,000$948,000
60$1,048,422$998,178$983,484$1,109,954
61$1,107,177$998,905$968,247$1,152,508
62$1,170,407$998,149$950,981$1,193,529
63$1,238,521$995,791$931,572$1,237,286
64$1,311,968$991,703$909,897$1,284,049
65$1,391,241$985,748$885,830$1,334,117
66$1,476,881$977,783$859,239$1,387,822
67$1,569,484$967,656$829,985$1,445,528
68$1,669,705$955,204$797,923$1,507,640
69$1,778,262$940,256$762,900$1,574,606
70$1,895,947$922,631$724,760$1,646,920
71$2,023,629$902,135$683,335$1,725,129
72$2,162,265$878,566$638,452$1,809,838
73$2,312,907$851,707$589,931$1,901,716
74$2,476,712$821,329$537,583$2,001,502
75$2,654,954$787,192$481,209$2,110,011
76$2,849,034$749,038$420,604$2,228,148
77$3,060,493$706,599$355,552$2,356,909
78$3,291,027$659,586$285,827$2,497,397
79$3,542,505$607,699$211,195$2,650,830
80$3,816,981$550,617$131,411$2,818,551
81$4,116,717$488,001$46,217$3,002,049
82$4,444,204$419,495$0$3,202,964
83$4,802,184$344,721$0$3,432,647
84$5,193,675$263,281$0$3,694,708
85$5,622,000$174,752$0$3,981,545
86$6,090,820$78,691$0$4,295,666
87$6,604,163$0$0$4,639,833
88$7,166,468$0$0$5,021,559
89$7,782,622$0$0$5,455,086
90$8,458,006$0$0$5,930,355
91$9,198,549$0$0$6,451,545
92$10,010,778$0$0$7,023,260
93$10,901,885$0$0$7,650,570
94$11,879,790$0$0$8,339,060
95$12,953,218$0$0$9,094,883
96$14,131,779$0$0$9,924,814
97$15,426,058$0$0$10,836,319
98$16,847,719$0$0$11,837,621
99$18,409,607$0$0$12,937,781
100$20,125,876$0$0$14,146,777