Can I retire at age 60 with 950,000?

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 $950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$78,450$77,751$77,070$76,404$75,754$74,839
2 years$38,837$38,113$37,412$36,733$36,073$35,152
3 years$25,634$24,908$24,208$23,535$22,887$21,988
4 years$19,034$18,310$17,617$16,956$16,323$15,454
5 years$15,075$14,355$13,672$13,024$12,408$11,572
6 years$12,436$11,722$11,049$10,415$9,818$9,015
7 years$10,552$9,844$9,182$8,563$7,985$7,215
8 years$9,140$8,438$7,787$7,183$6,624$5,888
9 years$8,042$7,347$6,707$6,118$5,579$4,875
10 years$7,165$6,476$5,847$5,274$4,753$4,083
11 years$6,447$5,765$5,148$4,590$4,088$3,450
12 years$5,849$5,175$4,568$4,026$3,543$2,936
13 years$5,344$4,676$4,082$3,554$3,089$2,513
14 years$4,911$4,251$3,667$3,155$2,708$2,161
15 years$4,536$3,883$3,311$2,814$2,384$1,867
16 years$4,209$3,563$3,002$2,520$2,107$1,618
17 years$3,920$3,281$2,732$2,264$1,868$1,406
18 years$3,664$3,032$2,494$2,040$1,661$1,225
19 years$3,435$2,810$2,283$1,843$1,481$1,069
20 years$3,229$2,611$2,095$1,670$1,323$935
21 years$3,043$2,432$1,927$1,515$1,184$819
22 years$2,874$2,270$1,776$1,378$1,061$719
23 years$2,720$2,123$1,640$1,255$952$631
24 years$2,579$1,989$1,517$1,144$856$555
25 years$2,449$1,867$1,405$1,045$770$488
26 years$2,330$1,755$1,303$956$694$430
27 years$2,220$1,651$1,210$875$626$379
28 years$2,117$1,556$1,125$801$564$334
29 years$2,022$1,468$1,047$735$510$295
30 years$1,934$1,386$975$674$461$260
31 years$1,851$1,311$909$619$416$230
32 years$1,774$1,240$848$569$377$203
33 years$1,701$1,174$792$523$341$179
34 years$1,633$1,113$740$482$309$159
35 years$1,569$1,056$692$443$280$140
36 years$1,509$1,002$647$408$253$124
37 years$1,452$952$606$376$230$110
38 years$1,398$904$567$347$208$97
39 years$1,347$860$531$320$189$86
40 years$1,299$818$498$295$171$76
41 years$1,253$779$467$272$155$67
42 years$1,209$742$438$251$141$59
43 years$1,168$707$411$232$128$53
44 years$1,129$674$386$214$116$47
45 years$1,091$642$362$198$105$41
46 years$1,055$613$340$183$96$37
47 years$1,021$585$320$169$87$32
48 years$989$558$300$156$79$29
49 years$957$533$282$144$72$25
50 years$928$509$265$133$65$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $950,000, adding $5,127 every year, while hoping to spend $47,179 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: 80/7/13 Blend
59$950,000$950,000$950,000$950,000
60$1,052,189$1,001,839$987,114$1,133,325
61$1,109,314$1,000,730$969,984$1,186,264
62$1,170,684$997,987$950,699$1,237,717
63$1,236,684$993,478$929,137$1,292,820
64$1,307,733$987,066$905,170$1,351,916
65$1,384,293$978,604$878,665$1,415,384
66$1,466,873$967,937$849,482$1,483,642
67$1,556,029$954,901$817,475$1,557,150
68$1,652,374$939,322$782,491$1,636,414
69$1,756,583$921,014$744,370$1,721,994
70$1,869,393$899,783$702,946$1,814,504
71$1,991,621$875,422$658,044$1,914,625
72$2,124,159$847,710$609,481$2,023,104
73$2,267,992$816,417$557,067$2,140,766
74$2,424,201$781,296$500,604$2,268,520
75$2,593,978$742,087$439,882$2,407,369
76$2,778,631$698,517$374,685$2,558,419
77$2,979,600$650,293$304,786$2,722,886
78$3,198,472$597,110$229,949$2,902,115
79$3,436,989$538,641$149,925$3,097,586
80$3,697,071$474,544$64,457$3,310,932
81$3,980,831$404,456$0$3,543,953
82$4,290,595$327,993$0$3,802,343
83$4,628,922$244,751$0$4,094,363
84$4,998,629$154,301$0$4,413,515
85$5,402,820$56,193$0$4,762,501
86$5,844,910$0$0$5,144,296
87$6,328,660$0$0$5,566,035
88$6,858,210$0$0$6,032,467
89$7,438,122$0$0$6,543,284
90$8,073,416$0$0$7,102,913
91$8,769,623$0$0$7,716,229
92$9,532,834$0$0$8,388,602
93$10,369,757$0$0$9,125,943
94$11,287,780$0$0$9,934,767
95$12,295,041$0$0$10,822,248
96$13,400,504$0$0$11,796,286
97$14,614,042$0$0$12,865,587
98$15,946,532$0$0$14,039,738
99$17,409,954$0$0$15,329,302
100$19,017,507$0$0$16,745,912