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%15.8%
1 years$78,533$77,833$77,151$76,485$75,834$74,031
2 years$38,878$38,154$37,452$36,771$36,111$34,305
3 years$25,661$24,934$24,234$23,560$22,911$21,158
4 years$19,054$18,329$17,636$16,974$16,340$14,654
5 years$15,091$14,370$13,686$13,037$12,421$10,807
6 years$12,449$11,734$11,061$10,426$9,829$8,288
7 years$10,564$9,854$9,191$8,572$7,993$6,526
8 years$9,150$8,447$7,795$7,191$6,631$5,237
9 years$8,051$7,355$6,714$6,125$5,584$4,262
10 years$7,172$6,483$5,853$5,280$4,758$3,506
11 years$6,454$5,771$5,153$4,595$4,092$2,909
12 years$5,855$5,180$4,573$4,030$3,546$2,430
13 years$5,350$4,681$4,086$3,558$3,092$2,040
14 years$4,916$4,255$3,671$3,159$2,711$1,721
15 years$4,541$3,887$3,315$2,817$2,387$1,457
16 years$4,213$3,566$3,005$2,522$2,109$1,237
17 years$3,924$3,284$2,735$2,266$1,870$1,053
18 years$3,668$3,035$2,496$2,042$1,663$898
19 years$3,438$2,813$2,285$1,845$1,482$768
20 years$3,232$2,614$2,097$1,671$1,324$657
21 years$3,046$2,435$1,929$1,517$1,185$563
22 years$2,877$2,273$1,778$1,379$1,062$483
23 years$2,723$2,126$1,642$1,256$953$415
24 years$2,581$1,992$1,518$1,146$857$357
25 years$2,452$1,869$1,406$1,046$771$307
26 years$2,332$1,756$1,304$957$695$264
27 years$2,222$1,653$1,211$876$626$227
28 years$2,120$1,558$1,126$802$565$196
29 years$2,024$1,469$1,048$736$510$169
30 years$1,936$1,388$976$675$461$145
31 years$1,853$1,312$910$620$417$125
32 years$1,776$1,241$849$570$377$108
33 years$1,703$1,176$793$524$341$93
34 years$1,635$1,114$741$482$309$80
35 years$1,571$1,057$692$444$280$69
36 years$1,510$1,003$648$409$254$60
37 years$1,453$953$606$377$230$52
38 years$1,399$905$568$347$208$45
39 years$1,348$861$532$320$189$38
40 years$1,300$819$499$295$171$33
41 years$1,254$780$467$272$155$29
42 years$1,211$743$438$251$141$25
43 years$1,169$707$411$232$128$21
44 years$1,130$674$386$214$116$18
45 years$1,092$643$363$198$105$16
46 years$1,057$613$341$183$96$14
47 years$1,022$585$320$169$87$12
48 years$990$559$301$156$79$10
49 years$958$534$283$144$72$9
50 years$929$510$266$133$65$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $951,000, adding $4,781 every year, while hoping to spend $24,031 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: 42/36/22 Blend
59$951,000$951,000$951,000$951,000
60$1,052,934$1,002,531$987,790$1,090,195
61$1,134,764$1,026,086$995,312$1,140,744
62$1,224,136$1,049,990$1,002,281$1,192,775
63$1,321,793$1,074,234$1,008,652$1,248,635
64$1,428,553$1,098,810$1,014,380$1,308,690
65$1,545,320$1,123,706$1,019,416$1,373,341
66$1,673,085$1,148,909$1,023,709$1,443,031
67$1,812,941$1,174,408$1,027,205$1,518,250
68$1,966,093$1,200,185$1,029,848$1,599,537
69$2,133,865$1,226,225$1,031,579$1,687,483
70$2,317,718$1,252,509$1,032,335$1,782,746
71$2,519,260$1,279,016$1,032,053$1,886,045
72$2,740,260$1,305,724$1,030,662$1,998,177
73$2,982,669$1,332,607$1,028,092$2,120,019
74$3,248,636$1,359,639$1,024,267$2,252,536
75$3,540,525$1,386,790$1,019,109$2,396,797
76$3,860,944$1,414,028$1,012,535$2,553,976
77$4,212,764$1,441,319$1,004,458$2,725,368
78$4,599,146$1,468,623$994,787$2,912,404
79$5,023,574$1,495,901$983,428$3,116,657
80$5,489,887$1,523,109$970,281$3,339,866
81$6,002,311$1,550,197$955,241$3,583,945
82$6,565,506$1,577,115$938,200$3,851,006
83$7,184,601$1,603,807$919,044$4,143,378
84$7,865,250$1,630,214$897,652$4,463,626
85$8,613,682$1,656,271$873,900$4,814,581
86$9,436,759$1,681,909$847,656$5,199,364
87$10,342,041$1,707,055$818,785$5,621,415
88$11,337,857$1,731,629$787,143$6,084,527
89$12,433,386$1,755,546$752,580$6,592,881
90$13,638,739$1,778,716$714,939$7,151,089
91$14,965,059$1,801,042$674,058$7,764,233
92$16,424,621$1,822,419$629,765$8,437,917
93$18,030,952$1,842,737$581,882$9,178,320
94$19,798,956$1,861,878$530,221$9,992,253
95$21,745,055$1,879,715$474,589$10,887,224
96$23,887,344$1,896,115$414,781$11,871,513
97$26,245,762$1,910,933$350,585$12,954,244
98$28,842,278$1,924,018$281,779$14,145,480
99$31,701,102$1,935,206$208,130$15,456,309
100$34,848,909$1,944,325$129,396$16,898,960