Can I retire at age 60 with 949,000?

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 $949,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$78,368$77,669$76,988$76,324$75,675$74,452
2 years$38,796$38,073$37,373$36,694$36,036$34,807
3 years$25,607$24,881$24,183$23,510$22,862$21,666
4 years$19,014$18,290$17,599$16,938$16,306$15,151
5 years$15,059$14,340$13,657$13,010$12,395$11,286
6 years$12,423$11,710$11,037$10,404$9,808$8,745
7 years$10,541$9,834$9,172$8,554$7,977$6,960
8 years$9,131$8,429$7,779$7,176$6,617$5,647
9 years$8,034$7,339$6,700$6,112$5,573$4,648
10 years$7,157$6,469$5,841$5,269$4,748$3,869
11 years$6,440$5,759$5,142$4,585$4,084$3,249
12 years$5,843$5,169$4,564$4,022$3,539$2,747
13 years$5,338$4,671$4,077$3,551$3,086$2,336
14 years$4,906$4,246$3,663$3,152$2,705$1,996
15 years$4,532$3,879$3,308$2,811$2,382$1,712
16 years$4,204$3,559$2,999$2,517$2,105$1,473
17 years$3,916$3,278$2,729$2,261$1,866$1,271
18 years$3,660$3,029$2,491$2,038$1,660$1,100
19 years$3,431$2,807$2,280$1,842$1,479$953
20 years$3,225$2,608$2,093$1,668$1,321$828
21 years$3,039$2,430$1,925$1,514$1,182$720
22 years$2,871$2,268$1,774$1,376$1,060$626
23 years$2,717$2,121$1,638$1,253$951$546
24 years$2,576$1,987$1,515$1,143$855$476
25 years$2,447$1,865$1,403$1,044$769$416
26 years$2,327$1,753$1,301$955$693$363
27 years$2,217$1,650$1,209$874$625$318
28 years$2,115$1,554$1,123$801$564$278
29 years$2,020$1,466$1,045$734$509$243
30 years$1,932$1,385$974$674$460$213
31 years$1,849$1,309$908$619$416$186
32 years$1,772$1,239$847$569$376$163
33 years$1,700$1,173$791$523$340$143
34 years$1,632$1,112$739$481$308$125
35 years$1,568$1,055$691$443$279$110
36 years$1,507$1,001$646$408$253$96
37 years$1,450$951$605$376$229$85
38 years$1,397$903$566$346$208$74
39 years$1,346$859$531$319$189$65
40 years$1,297$817$497$295$171$57
41 years$1,252$778$466$272$155$50
42 years$1,208$741$438$251$141$44
43 years$1,167$706$411$232$128$39
44 years$1,128$673$385$214$116$34
45 years$1,090$642$362$197$105$30
46 years$1,054$612$340$182$96$26
47 years$1,020$584$319$169$87$23
48 years$988$558$300$156$79$20
49 years$956$533$282$144$72$18
50 years$927$509$265$133$65$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $949,000, adding $6,471 every year, while hoping to spend $31,357 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: 43/33/24 Blend
59$949,000$949,000$949,000$949,000
60$1,052,473$1,002,176$987,466$1,090,125
61$1,126,461$1,017,919$987,183$1,133,290
62$1,206,946$1,033,382$985,839$1,176,519
63$1,294,556$1,048,519$983,366$1,222,735
64$1,389,984$1,063,280$979,692$1,272,229
65$1,493,992$1,077,611$974,741$1,325,325
66$1,607,419$1,091,453$968,435$1,382,383
67$1,731,188$1,104,747$960,690$1,443,797
68$1,866,316$1,117,427$951,420$1,510,004
69$2,013,922$1,129,422$940,534$1,581,490
70$2,175,236$1,140,658$927,936$1,658,786
71$2,351,615$1,151,055$913,527$1,742,485
72$2,544,551$1,160,528$897,202$1,833,237
73$2,755,689$1,168,988$878,851$1,931,765
74$2,986,838$1,176,337$858,362$2,038,862
75$3,239,991$1,182,473$835,613$2,155,410
76$3,517,344$1,187,288$810,479$2,282,380
77$3,821,313$1,190,665$782,830$2,420,843
78$4,154,561$1,192,481$752,529$2,571,986
79$4,520,019$1,192,606$719,432$2,737,117
80$4,920,918$1,190,900$683,389$2,917,682
81$5,360,813$1,187,216$644,245$3,115,275
82$5,843,624$1,181,398$601,835$3,331,659
83$6,373,666$1,173,278$555,988$3,568,779
84$6,955,693$1,162,682$506,527$3,828,784
85$7,594,941$1,149,421$453,263$4,114,042
86$8,297,181$1,133,298$396,003$4,427,172
87$9,068,767$1,114,104$334,543$4,771,062
88$9,916,702$1,091,615$268,670$5,148,900
89$10,848,697$1,065,596$198,163$5,564,205
90$11,873,252$1,035,797$122,789$6,020,860
91$12,999,727$1,001,955$42,306$6,523,150
92$14,238,439$963,790$0$7,075,803
93$15,600,750$921,007$0$7,695,197
94$17,099,181$873,291$0$8,388,216
95$18,747,529$820,313$0$9,150,436
96$20,560,990$761,722$0$9,988,938
97$22,556,313$697,149$0$10,911,528
98$24,751,950$626,201$0$11,926,815
99$27,168,230$548,467$0$13,044,288
100$29,827,556$463,508$0$14,274,411