Can I retire at age 60 with 951,000?

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 $951,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$78,533$77,833$77,151$76,485$75,834$74,212
2 years$38,878$38,154$37,452$36,771$36,111$34,485
3 years$25,661$24,934$24,234$23,560$22,911$21,331
4 years$19,054$18,329$17,636$16,974$16,340$14,819
5 years$15,091$14,370$13,686$13,037$12,421$10,963
6 years$12,449$11,734$11,061$10,426$9,829$8,435
7 years$10,564$9,854$9,191$8,572$7,993$6,665
8 years$9,150$8,447$7,795$7,191$6,631$5,367
9 years$8,051$7,355$6,714$6,125$5,584$4,384
10 years$7,172$6,483$5,853$5,280$4,758$3,620
11 years$6,454$5,771$5,153$4,595$4,092$3,014
12 years$5,855$5,180$4,573$4,030$3,546$2,528
13 years$5,350$4,681$4,086$3,558$3,092$2,131
14 years$4,916$4,255$3,671$3,159$2,711$1,805
15 years$4,541$3,887$3,315$2,817$2,387$1,534
16 years$4,213$3,566$3,005$2,522$2,109$1,308
17 years$3,924$3,284$2,735$2,266$1,870$1,119
18 years$3,668$3,035$2,496$2,042$1,663$958
19 years$3,438$2,813$2,285$1,845$1,482$823
20 years$3,232$2,614$2,097$1,671$1,324$707
21 years$3,046$2,435$1,929$1,517$1,185$609
22 years$2,877$2,273$1,778$1,379$1,062$525
23 years$2,723$2,126$1,642$1,256$953$453
24 years$2,581$1,992$1,518$1,146$857$391
25 years$2,452$1,869$1,406$1,046$771$338
26 years$2,332$1,756$1,304$957$695$292
27 years$2,222$1,653$1,211$876$626$253
28 years$2,120$1,558$1,126$802$565$219
29 years$2,024$1,469$1,048$736$510$189
30 years$1,936$1,388$976$675$461$164
31 years$1,853$1,312$910$620$417$142
32 years$1,776$1,241$849$570$377$123
33 years$1,703$1,176$793$524$341$107
34 years$1,635$1,114$741$482$309$93
35 years$1,571$1,057$692$444$280$80
36 years$1,510$1,003$648$409$254$70
37 years$1,453$953$606$377$230$60
38 years$1,399$905$568$347$208$52
39 years$1,348$861$532$320$189$45
40 years$1,300$819$499$295$171$39
41 years$1,254$780$467$272$155$34
42 years$1,211$743$438$251$141$30
43 years$1,169$707$411$232$128$26
44 years$1,130$674$386$214$116$22
45 years$1,092$643$363$198$105$19
46 years$1,057$613$341$183$96$17
47 years$1,022$585$320$169$87$15
48 years$990$559$301$156$79$13
49 years$958$534$283$144$72$11
50 years$929$510$266$133$65$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $951,000, adding $4,840 every year, while hoping to spend $53,976 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: 33/40/27 Blend
59$951,000$951,000$951,000$951,000
60$1,052,994$1,002,591$987,851$1,078,963
61$1,102,970$994,288$963,514$1,090,751
62$1,156,234$983,769$936,553$1,098,297
63$1,213,064$970,869$906,822$1,105,371
64$1,273,767$955,412$874,171$1,111,969
65$1,338,676$937,211$838,440$1,118,090
66$1,408,157$916,071$799,464$1,123,739
67$1,482,614$891,783$757,070$1,128,926
68$1,562,485$864,126$711,077$1,133,669
69$1,648,256$832,865$661,296$1,137,992
70$1,740,457$797,754$607,528$1,141,930
71$1,839,671$758,532$549,568$1,145,528
72$1,946,539$714,921$487,199$1,148,842
73$2,061,761$666,628$420,196$1,151,942
74$2,186,112$613,344$348,324$1,154,914
75$2,320,440$554,742$271,337$1,157,860
76$2,465,676$490,475$188,978$1,160,902
77$2,622,846$420,179$100,979$1,164,186
78$2,793,075$343,467$7,061$1,167,881
79$2,977,603$259,931$0$1,172,186
80$3,177,791$169,141$0$1,204,169
81$3,395,138$70,640$0$1,241,171
82$3,631,290$0$0$1,281,554
83$3,888,059$0$0$1,341,629
84$4,167,440$0$0$1,440,952
85$4,471,626$0$0$1,549,223
86$4,803,031$0$0$1,667,318
87$5,164,311$0$0$1,796,202
88$5,558,390$0$0$1,936,934
89$5,988,486$0$0$2,090,683
90$6,458,140$0$0$2,258,734
91$6,971,252$0$0$2,442,503
92$7,532,114$0$0$2,643,547
93$8,145,453$0$0$2,863,583
94$8,816,472$0$0$3,104,500
95$9,550,900$0$0$3,368,379
96$10,355,047$0$0$3,657,511
97$11,235,862$0$0$3,974,419
98$12,200,994$0$0$4,321,883
99$13,258,870$0$0$4,702,964
100$14,418,771$0$0$5,121,032