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%11.5%
1 years$78,368$77,669$76,988$76,324$75,675$75,198
2 years$38,796$38,073$37,373$36,694$36,036$35,554
3 years$25,607$24,881$24,183$23,510$22,862$22,392
4 years$19,014$18,290$17,599$16,938$16,306$15,850
5 years$15,059$14,340$13,657$13,010$12,395$11,955
6 years$12,423$11,710$11,037$10,404$9,808$9,384
7 years$10,541$9,834$9,172$8,554$7,977$7,569
8 years$9,131$8,429$7,779$7,176$6,617$6,226
9 years$8,034$7,339$6,700$6,112$5,573$5,198
10 years$7,157$6,469$5,841$5,269$4,748$4,390
11 years$6,440$5,759$5,142$4,585$4,084$3,741
12 years$5,843$5,169$4,564$4,022$3,539$3,212
13 years$5,338$4,671$4,077$3,551$3,086$2,774
14 years$4,906$4,246$3,663$3,152$2,705$2,409
15 years$4,532$3,879$3,308$2,811$2,382$2,100
16 years$4,204$3,559$2,999$2,517$2,105$1,837
17 years$3,916$3,278$2,729$2,261$1,866$1,612
18 years$3,660$3,029$2,491$2,038$1,660$1,419
19 years$3,431$2,807$2,280$1,842$1,479$1,251
20 years$3,225$2,608$2,093$1,668$1,321$1,106
21 years$3,039$2,430$1,925$1,514$1,182$979
22 years$2,871$2,268$1,774$1,376$1,060$868
23 years$2,717$2,121$1,638$1,253$951$770
24 years$2,576$1,987$1,515$1,143$855$685
25 years$2,447$1,865$1,403$1,044$769$609
26 years$2,327$1,753$1,301$955$693$542
27 years$2,217$1,650$1,209$874$625$483
28 years$2,115$1,554$1,123$801$564$431
29 years$2,020$1,466$1,045$734$509$384
30 years$1,932$1,385$974$674$460$343
31 years$1,849$1,309$908$619$416$307
32 years$1,772$1,239$847$569$376$274
33 years$1,700$1,173$791$523$340$245
34 years$1,632$1,112$739$481$308$219
35 years$1,568$1,055$691$443$279$196
36 years$1,507$1,001$646$408$253$175
37 years$1,450$951$605$376$229$157
38 years$1,397$903$566$346$208$140
39 years$1,346$859$531$319$189$126
40 years$1,297$817$497$295$171$113
41 years$1,252$778$466$272$155$101
42 years$1,208$741$438$251$141$90
43 years$1,167$706$411$232$128$81
44 years$1,128$673$385$214$116$73
45 years$1,090$642$362$197$105$65
46 years$1,054$612$340$182$96$58
47 years$1,020$584$319$169$87$52
48 years$988$558$300$156$79$47
49 years$956$533$282$144$72$42
50 years$927$509$265$133$65$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $949,000, adding $5,993 every year, while hoping to spend $41,272 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: 68/5/27 Blend
59$949,000$949,000$949,000$949,000
60$1,051,980$1,001,683$986,973$1,115,760
61$1,115,369$1,006,852$976,124$1,164,555
62$1,183,840$1,010,892$963,528$1,212,674
63$1,257,868$1,013,702$949,083$1,264,379
64$1,337,976$1,015,178$932,682$1,320,029
65$1,424,736$1,015,209$914,214$1,380,014
66$1,518,780$1,013,675$893,561$1,444,770
67$1,620,802$1,010,451$870,601$1,514,776
68$1,731,563$1,005,403$845,205$1,590,559
69$1,851,903$998,388$817,240$1,672,705
70$1,982,745$989,257$786,566$1,761,858
71$2,125,105$977,850$753,035$1,858,729
72$2,280,099$963,998$716,495$1,964,105
73$2,448,956$947,521$676,785$2,078,852
74$2,633,030$928,230$633,738$2,203,928
75$2,833,810$905,924$587,179$2,340,390
76$3,052,933$880,389$536,924$2,489,402
77$3,292,205$851,401$482,783$2,652,253
78$3,553,610$818,720$424,557$2,830,361
79$3,839,335$782,094$362,036$3,025,294
80$4,151,786$741,256$295,004$3,238,781
81$4,493,614$695,923$223,232$3,472,730
82$4,867,737$645,797$146,484$3,729,245
83$5,277,366$590,562$64,512$4,010,649
84$5,726,042$529,883$0$4,319,503
85$6,217,659$463,408$0$4,665,250
86$6,756,509$390,764$0$5,064,656
87$7,347,319$311,557$0$5,502,635
88$7,995,292$225,371$0$5,983,066
89$8,706,164$131,766$0$6,510,222
90$9,486,248$30,277$0$7,088,809
91$10,342,500$0$0$7,724,014
92$11,282,583$0$0$8,425,929
93$12,314,936$0$0$9,198,627
94$13,448,857$0$0$10,047,407
95$14,694,589$0$0$10,979,944
96$16,063,415$0$0$12,004,692
97$17,567,766$0$0$13,130,966
98$19,221,335$0$0$14,369,026
99$21,039,211$0$0$15,730,177
100$23,038,015$0$0$17,226,874