Can I retire at age 60 with 949,000?

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 $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%15.8%
1 years$78,368$77,669$76,988$76,324$75,675$73,875
2 years$38,796$38,073$37,373$36,694$36,036$34,233
3 years$25,607$24,881$24,183$23,510$22,862$21,113
4 years$19,014$18,290$17,599$16,938$16,306$14,624
5 years$15,059$14,340$13,657$13,010$12,395$10,785
6 years$12,423$11,710$11,037$10,404$9,808$8,271
7 years$10,541$9,834$9,172$8,554$7,977$6,513
8 years$9,131$8,429$7,779$7,176$6,617$5,226
9 years$8,034$7,339$6,700$6,112$5,573$4,253
10 years$7,157$6,469$5,841$5,269$4,748$3,499
11 years$6,440$5,759$5,142$4,585$4,084$2,903
12 years$5,843$5,169$4,564$4,022$3,539$2,424
13 years$5,338$4,671$4,077$3,551$3,086$2,036
14 years$4,906$4,246$3,663$3,152$2,705$1,717
15 years$4,532$3,879$3,308$2,811$2,382$1,454
16 years$4,204$3,559$2,999$2,517$2,105$1,234
17 years$3,916$3,278$2,729$2,261$1,866$1,051
18 years$3,660$3,029$2,491$2,038$1,660$896
19 years$3,431$2,807$2,280$1,842$1,479$766
20 years$3,225$2,608$2,093$1,668$1,321$656
21 years$3,039$2,430$1,925$1,514$1,182$562
22 years$2,871$2,268$1,774$1,376$1,060$482
23 years$2,717$2,121$1,638$1,253$951$414
24 years$2,576$1,987$1,515$1,143$855$356
25 years$2,447$1,865$1,403$1,044$769$306
26 years$2,327$1,753$1,301$955$693$263
27 years$2,217$1,650$1,209$874$625$227
28 years$2,115$1,554$1,123$801$564$195
29 years$2,020$1,466$1,045$734$509$168
30 years$1,932$1,385$974$674$460$145
31 years$1,849$1,309$908$619$416$125
32 years$1,772$1,239$847$569$376$108
33 years$1,700$1,173$791$523$340$93
34 years$1,632$1,112$739$481$308$80
35 years$1,568$1,055$691$443$279$69
36 years$1,507$1,001$646$408$253$60
37 years$1,450$951$605$376$229$52
38 years$1,397$903$566$346$208$44
39 years$1,346$859$531$319$189$38
40 years$1,297$817$497$295$171$33
41 years$1,252$778$466$272$155$29
42 years$1,208$741$438$251$141$25
43 years$1,167$706$411$232$128$21
44 years$1,128$673$385$214$116$18
45 years$1,090$642$362$197$105$16
46 years$1,054$612$340$182$96$14
47 years$1,020$584$319$169$87$12
48 years$988$558$300$156$79$10
49 years$956$533$282$144$72$9
50 years$927$509$265$133$65$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $949,000, adding $2,237 every year, while hoping to spend $57,431 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: 27/45/28 Blend
59$949,000$949,000$949,000$949,000
60$1,048,105$997,808$983,099$1,067,222
61$1,093,906$985,595$954,927$1,070,671
62$1,142,454$970,858$923,886$1,069,290
63$1,193,967$953,414$889,819$1,066,642
64$1,248,688$933,066$852,564$1,062,658
65$1,306,877$909,610$811,948$1,057,270
66$1,368,822$882,825$767,792$1,050,408
67$1,434,838$852,479$719,909$1,042,002
68$1,505,269$818,328$668,104$1,031,983
69$1,580,493$780,113$612,171$1,020,280
70$1,660,922$737,557$551,898$1,006,827
71$1,747,011$690,372$487,062$991,555
72$1,839,256$638,250$417,428$974,402
73$1,938,203$580,867$342,754$955,306
74$2,044,449$517,879$262,786$934,208
75$2,158,652$448,925$177,259$911,058
76$2,281,532$373,619$85,895$885,808
77$2,413,881$291,559$0$858,420
78$2,556,568$202,317$0$832,331
79$2,710,548$105,440$0$831,664
80$2,876,869$453$0$830,817
81$3,056,686$0$0$829,894
82$3,251,265$0$0$885,051
83$3,461,999$0$0$945,159
84$3,690,420$0$0$1,010,449
85$3,938,212$0$0$1,081,417
86$4,207,226$0$0$1,158,614
87$4,499,501$0$0$1,242,641
88$4,817,276$0$0$1,334,163
89$5,163,018$0$0$1,433,911
90$5,539,438$0$0$1,542,689
91$5,949,521$0$0$1,661,382
92$6,396,552$0$0$1,790,963
93$6,884,146$0$0$1,932,505
94$7,416,282$0$0$2,087,189
95$7,997,339$0$0$2,256,314
96$8,632,138$0$0$2,441,311
97$9,325,988$0$0$2,643,756
98$10,084,732$0$0$2,865,383
99$10,914,804$0$0$3,108,103
100$11,823,288$0$0$3,374,019