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%19.2%
1 years$78,450$77,751$77,070$76,404$75,754$72,950
2 years$38,837$38,113$37,412$36,733$36,073$33,280
3 years$25,634$24,908$24,208$23,535$22,887$20,192
4 years$19,034$18,310$17,617$16,956$16,323$13,747
5 years$15,075$14,355$13,672$13,024$12,408$9,959
6 years$12,436$11,722$11,049$10,415$9,818$7,496
7 years$10,552$9,844$9,182$8,563$7,985$5,790
8 years$9,140$8,438$7,787$7,183$6,624$4,554
9 years$8,042$7,347$6,707$6,118$5,579$3,630
10 years$7,165$6,476$5,847$5,274$4,753$2,923
11 years$6,447$5,765$5,148$4,590$4,088$2,373
12 years$5,849$5,175$4,568$4,026$3,543$1,938
13 years$5,344$4,676$4,082$3,554$3,089$1,590
14 years$4,911$4,251$3,667$3,155$2,708$1,310
15 years$4,536$3,883$3,311$2,814$2,384$1,083
16 years$4,209$3,563$3,002$2,520$2,107$897
17 years$3,920$3,281$2,732$2,264$1,868$745
18 years$3,664$3,032$2,494$2,040$1,661$620
19 years$3,435$2,810$2,283$1,843$1,481$516
20 years$3,229$2,611$2,095$1,670$1,323$430
21 years$3,043$2,432$1,927$1,515$1,184$359
22 years$2,874$2,270$1,776$1,378$1,061$300
23 years$2,720$2,123$1,640$1,255$952$251
24 years$2,579$1,989$1,517$1,144$856$210
25 years$2,449$1,867$1,405$1,045$770$176
26 years$2,330$1,755$1,303$956$694$147
27 years$2,220$1,651$1,210$875$626$123
28 years$2,117$1,556$1,125$801$564$103
29 years$2,022$1,468$1,047$735$510$86
30 years$1,934$1,386$975$674$461$72
31 years$1,851$1,311$909$619$416$61
32 years$1,774$1,240$848$569$377$51
33 years$1,701$1,174$792$523$341$43
34 years$1,633$1,113$740$482$309$36
35 years$1,569$1,056$692$443$280$30
36 years$1,509$1,002$647$408$253$25
37 years$1,452$952$606$376$230$21
38 years$1,398$904$567$347$208$18
39 years$1,347$860$531$320$189$15
40 years$1,299$818$498$295$171$12
41 years$1,253$779$467$272$155$10
42 years$1,209$742$438$251$141$9
43 years$1,168$707$411$232$128$7
44 years$1,129$674$386$214$116$6
45 years$1,091$642$362$198$105$5
46 years$1,055$613$340$183$96$4
47 years$1,021$585$320$169$87$4
48 years$989$558$300$156$79$3
49 years$957$533$282$144$72$3
50 years$928$509$265$133$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $950,000, adding $3,119 every year, while hoping to spend $41,310 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: 36/37/27 Blend
59$950,000$950,000$950,000$950,000
60$1,050,117$999,767$985,042$1,079,308
61$1,113,276$1,004,802$974,088$1,106,275
62$1,181,492$1,008,700$961,382$1,131,394
63$1,255,238$1,011,360$946,822$1,157,711
64$1,335,033$1,012,677$930,301$1,185,362
65$1,421,447$1,012,539$911,707$1,214,500
66$1,515,108$1,010,827$890,923$1,245,293
67$1,616,706$1,007,415$867,826$1,277,933
68$1,727,000$1,002,167$842,287$1,312,632
69$1,846,823$994,943$814,173$1,349,629
70$1,977,093$985,589$783,342$1,389,190
71$2,118,821$973,947$749,648$1,431,612
72$2,273,117$959,847$712,938$1,477,228
73$2,441,204$943,109$673,050$1,526,409
74$2,624,426$923,541$629,817$1,579,567
75$2,824,266$900,942$583,064$1,637,162
76$3,042,352$875,099$532,607$1,699,707
77$3,280,477$845,785$478,256$1,767,773
78$3,540,618$812,760$419,809$1,841,994
79$3,824,947$775,772$357,059$1,923,077
80$4,135,858$734,551$289,787$2,011,805
81$4,475,986$688,814$217,765$2,109,051
82$4,848,233$638,262$140,756$2,215,784
83$5,255,793$582,578$58,512$2,333,078
84$5,702,185$521,426$0$2,462,128
85$6,191,284$454,451$0$2,612,686
86$6,727,356$381,281$0$2,796,330
87$7,315,102$301,518$0$2,997,895
88$7,959,696$214,747$0$3,219,273
89$8,666,840$120,525$0$3,462,552
90$9,442,814$18,386$0$3,730,044
91$10,294,533$0$0$4,024,299
92$11,229,618$0$0$4,385,662
93$12,256,459$0$0$4,790,846
94$13,384,303$0$0$5,236,031
95$14,623,335$0$0$5,725,255
96$15,984,773$0$0$6,262,967
97$17,480,979$0$0$6,854,069
98$19,125,569$0$0$7,503,960
99$20,933,545$0$0$8,218,589
100$22,921,436$0$0$9,004,510