Can I retire at age 60 with 948,000?

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 $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%13.6%
1 years$78,285$77,588$76,907$76,243$75,595$74,465
2 years$38,755$38,033$37,334$36,655$35,998$34,862
3 years$25,580$24,855$24,157$23,485$22,838$21,732
4 years$18,994$18,271$17,580$16,920$16,288$15,220
5 years$15,043$14,325$13,643$12,996$12,382$11,355
6 years$12,410$11,697$11,026$10,393$9,798$8,813
7 years$10,530$9,823$9,162$8,545$7,968$7,026
8 years$9,121$8,420$7,770$7,168$6,610$5,710
9 years$8,025$7,331$6,693$6,106$5,567$4,709
10 years$7,149$6,462$5,835$5,263$4,743$3,927
11 years$6,433$5,753$5,137$4,580$4,079$3,303
12 years$5,837$5,164$4,559$4,018$3,535$2,798
13 years$5,333$4,666$4,073$3,547$3,083$2,385
14 years$4,901$4,242$3,660$3,149$2,702$2,042
15 years$4,527$3,875$3,304$2,808$2,379$1,755
16 years$4,200$3,555$2,996$2,514$2,103$1,513
17 years$3,912$3,274$2,726$2,259$1,864$1,309
18 years$3,656$3,025$2,488$2,036$1,658$1,134
19 years$3,427$2,804$2,278$1,840$1,478$985
20 years$3,222$2,606$2,091$1,666$1,320$857
21 years$3,036$2,427$1,923$1,512$1,181$747
22 years$2,868$2,265$1,772$1,375$1,059$652
23 years$2,714$2,119$1,636$1,252$950$570
24 years$2,573$1,985$1,513$1,142$854$498
25 years$2,444$1,863$1,402$1,043$769$436
26 years$2,325$1,751$1,300$954$692$382
27 years$2,215$1,648$1,207$873$624$334
28 years$2,113$1,553$1,122$800$563$293
29 years$2,018$1,465$1,044$733$509$257
30 years$1,930$1,383$973$673$460$226
31 years$1,847$1,308$907$618$415$198
32 years$1,770$1,237$846$568$376$174
33 years$1,698$1,172$790$522$340$153
34 years$1,630$1,111$738$481$308$134
35 years$1,566$1,053$690$442$279$118
36 years$1,506$1,000$646$407$253$104
37 years$1,449$950$604$375$229$91
38 years$1,395$902$566$346$208$80
39 years$1,344$858$530$319$188$71
40 years$1,296$816$497$294$171$62
41 years$1,250$777$466$272$155$55
42 years$1,207$740$437$251$141$48
43 years$1,166$705$410$231$128$42
44 years$1,126$672$385$214$116$37
45 years$1,089$641$362$197$105$33
46 years$1,053$612$340$182$95$29
47 years$1,019$584$319$168$87$25
48 years$987$557$300$156$79$22
49 years$955$532$282$144$72$20
50 years$926$508$265$133$65$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $948,000, adding $3,376 every year, while hoping to spend $59,328 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: 53/27/20 Blend
59$948,000$948,000$948,000$948,000
60$1,048,178$997,934$983,240$1,097,822
61$1,091,968$983,709$953,054$1,118,058
62$1,138,236$966,797$919,869$1,133,579
63$1,187,172$947,006$883,520$1,149,193
64$1,238,984$924,130$843,839$1,164,930
65$1,293,898$897,950$800,645$1,180,821
66$1,352,163$868,237$753,754$1,196,910
67$1,414,048$834,746$702,969$1,213,244
68$1,479,851$797,218$648,089$1,229,881
69$1,549,895$755,381$588,899$1,246,890
70$1,624,535$708,946$525,178$1,264,350
71$1,704,160$657,606$456,694$1,282,353
72$1,789,196$601,040$383,204$1,301,008
73$1,880,108$538,905$304,456$1,320,437
74$1,977,408$470,840$220,184$1,340,783
75$2,081,656$396,465$130,113$1,362,207
76$2,193,469$315,375$33,956$1,384,897
77$2,313,520$227,146$0$1,409,063
78$2,442,551$131,328$0$1,449,599
79$2,581,373$27,445$0$1,500,810
80$2,730,881$0$0$1,555,822
81$2,892,054$0$0$1,640,311
82$3,065,969$0$0$1,740,350
83$3,253,810$0$0$1,848,474
84$3,456,876$0$0$1,965,441
85$3,676,597$0$0$2,092,083
86$3,914,545$0$0$2,229,318
87$4,172,445$0$0$2,378,151
88$4,452,197$0$0$2,539,691
89$4,755,891$0$0$2,715,155
90$5,085,822$0$0$2,905,884
91$5,444,519$0$0$3,113,352
92$5,834,761$0$0$3,339,179
93$6,259,607$0$0$3,585,152
94$6,722,423$0$0$3,853,233
95$7,226,912$0$0$4,145,583
96$7,777,152$0$0$4,464,582
97$8,377,629$0$0$4,812,848
98$9,033,282$0$0$5,193,262
99$9,749,547$0$0$5,608,998
100$10,532,409$0$0$6,063,549