Can I retire at age 60 with 951,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%16.1%
1 years$78,533$77,833$77,151$76,485$75,834$73,941
2 years$38,878$38,154$37,452$36,771$36,111$34,216
3 years$25,661$24,934$24,234$23,560$22,911$21,072
4 years$19,054$18,329$17,636$16,974$16,340$14,573
5 years$15,091$14,370$13,686$13,037$12,421$10,730
6 years$12,449$11,734$11,061$10,426$9,829$8,215
7 years$10,564$9,854$9,191$8,572$7,993$6,458
8 years$9,150$8,447$7,795$7,191$6,631$5,173
9 years$8,051$7,355$6,714$6,125$5,584$4,203
10 years$7,172$6,483$5,853$5,280$4,758$3,451
11 years$6,454$5,771$5,153$4,595$4,092$2,858
12 years$5,855$5,180$4,573$4,030$3,546$2,382
13 years$5,350$4,681$4,086$3,558$3,092$1,996
14 years$4,916$4,255$3,671$3,159$2,711$1,680
15 years$4,541$3,887$3,315$2,817$2,387$1,420
16 years$4,213$3,566$3,005$2,522$2,109$1,203
17 years$3,924$3,284$2,735$2,266$1,870$1,022
18 years$3,668$3,035$2,496$2,042$1,663$870
19 years$3,438$2,813$2,285$1,845$1,482$742
20 years$3,232$2,614$2,097$1,671$1,324$633
21 years$3,046$2,435$1,929$1,517$1,185$541
22 years$2,877$2,273$1,778$1,379$1,062$463
23 years$2,723$2,126$1,642$1,256$953$397
24 years$2,581$1,992$1,518$1,146$857$340
25 years$2,452$1,869$1,406$1,046$771$292
26 years$2,332$1,756$1,304$957$695$251
27 years$2,222$1,653$1,211$876$626$215
28 years$2,120$1,558$1,126$802$565$185
29 years$2,024$1,469$1,048$736$510$159
30 years$1,936$1,388$976$675$461$137
31 years$1,853$1,312$910$620$417$118
32 years$1,776$1,241$849$570$377$101
33 years$1,703$1,176$793$524$341$87
34 years$1,635$1,114$741$482$309$75
35 years$1,571$1,057$692$444$280$64
36 years$1,510$1,003$648$409$254$55
37 years$1,453$953$606$377$230$48
38 years$1,399$905$568$347$208$41
39 years$1,348$861$532$320$189$35
40 years$1,300$819$499$295$171$30
41 years$1,254$780$467$272$155$26
42 years$1,211$743$438$251$141$23
43 years$1,169$707$411$232$128$19
44 years$1,130$674$386$214$116$17
45 years$1,092$643$363$198$105$14
46 years$1,057$613$341$183$96$12
47 years$1,022$585$320$169$87$11
48 years$990$559$301$156$79$9
49 years$958$534$283$144$72$8
50 years$929$510$266$133$65$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $951,000, adding $3,537 every year, while hoping to spend $32,708 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: 69/16/15 Blend
59$951,000$951,000$951,000$951,000
60$1,051,650$1,001,247$986,507$1,120,333
61$1,124,118$1,015,507$984,754$1,180,758
62$1,202,880$1,029,370$981,846$1,242,615
63$1,288,546$1,042,781$977,710$1,309,457
64$1,381,783$1,055,683$972,268$1,381,772
65$1,483,328$1,068,014$965,442$1,460,095
66$1,593,989$1,079,708$957,146$1,545,020
67$1,714,657$1,090,695$947,291$1,637,196
68$1,846,313$1,100,900$935,786$1,737,344
69$1,990,035$1,110,243$922,534$1,846,255
70$2,147,013$1,118,639$907,433$1,964,802
71$2,318,553$1,125,997$890,376$2,093,949
72$2,506,095$1,132,220$871,254$2,234,757
73$2,711,225$1,137,207$849,949$2,388,396
74$2,935,687$1,140,847$826,340$2,556,156
75$3,181,404$1,143,026$800,299$2,739,460
76$3,450,492$1,143,619$771,693$2,939,875
77$3,745,281$1,142,495$740,384$3,159,129
78$4,068,338$1,139,516$706,225$3,399,130
79$4,422,489$1,134,533$669,065$3,661,977
80$4,810,848$1,127,390$628,744$3,949,987
81$5,236,844$1,117,922$585,096$4,265,715
82$5,704,253$1,105,950$537,947$4,611,974
83$6,217,235$1,091,290$487,117$4,991,870
84$6,780,372$1,073,743$432,415$5,408,824
85$7,398,712$1,053,098$373,643$5,866,607
86$8,077,816$1,029,135$310,594$6,369,380
87$8,823,807$1,001,617$243,053$6,921,726
88$9,643,434$970,295$170,795$7,528,699
89$10,544,131$934,905$93,582$8,195,872
90$11,534,086$895,170$11,171$8,929,387
91$12,622,322$850,792$0$9,736,014
92$13,818,779$801,461$0$10,635,507
93$15,134,407$746,845$0$11,626,511
94$16,581,271$686,595$0$12,716,353
95$18,172,665$620,343$0$13,915,079
96$19,923,235$547,697$0$15,233,758
97$21,849,116$468,246$0$16,684,592
98$23,968,090$381,554$0$18,281,027
99$26,299,746$287,160$0$20,037,880
100$28,865,667$184,579$0$21,971,483