Can I retire at age 60 with 954,000?

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 $954,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$78,780$78,079$77,394$76,726$76,073$73,756
2 years$39,000$38,274$37,570$36,887$36,225$33,911
3 years$25,742$25,012$24,310$23,634$22,983$20,744
4 years$19,114$18,387$17,692$17,027$16,392$14,245
5 years$15,138$14,415$13,729$13,078$12,461$10,412
6 years$12,489$11,771$11,095$10,459$9,860$7,911
7 years$10,597$9,886$9,220$8,599$8,019$6,169
8 years$9,179$8,474$7,820$7,213$6,652$4,902
9 years$8,076$7,378$6,735$6,144$5,602$3,948
10 years$7,195$6,503$5,872$5,296$4,773$3,214
11 years$6,474$5,789$5,169$4,609$4,105$2,637
12 years$5,874$5,196$4,588$4,043$3,557$2,178
13 years$5,366$4,696$4,099$3,569$3,102$1,808
14 years$4,932$4,268$3,683$3,169$2,719$1,508
15 years$4,556$3,899$3,325$2,826$2,394$1,261
16 years$4,227$3,578$3,015$2,530$2,116$1,058
17 years$3,937$3,295$2,743$2,273$1,876$889
18 years$3,679$3,045$2,504$2,049$1,668$749
19 years$3,449$2,822$2,292$1,851$1,487$632
20 years$3,242$2,622$2,104$1,677$1,328$534
21 years$3,055$2,442$1,935$1,522$1,189$452
22 years$2,886$2,280$1,784$1,384$1,065$383
23 years$2,731$2,132$1,647$1,260$956$324
24 years$2,590$1,998$1,523$1,149$860$275
25 years$2,460$1,875$1,411$1,050$774$233
26 years$2,340$1,762$1,308$960$697$198
27 years$2,229$1,658$1,215$878$628$168
28 years$2,126$1,563$1,129$805$567$143
29 years$2,031$1,474$1,051$738$512$121
30 years$1,942$1,392$979$677$462$103
31 years$1,859$1,316$913$622$418$88
32 years$1,781$1,245$852$572$378$74
33 years$1,708$1,179$795$526$342$63
34 years$1,640$1,118$743$484$310$54
35 years$1,576$1,060$695$445$281$46
36 years$1,515$1,006$650$410$254$39
37 years$1,458$956$608$378$230$33
38 years$1,404$908$569$348$209$28
39 years$1,353$864$534$321$189$24
40 years$1,304$822$500$296$172$20
41 years$1,258$782$469$273$156$17
42 years$1,215$745$440$252$141$15
43 years$1,173$710$413$233$128$13
44 years$1,133$677$387$215$117$11
45 years$1,096$645$364$199$106$9
46 years$1,060$615$342$183$96$8
47 years$1,026$587$321$169$87$7
48 years$993$561$302$157$79$6
49 years$961$535$284$145$72$5
50 years$931$511$267$134$65$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $954,000, adding $2,067 every year, while hoping to spend $35,971 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: 49/29/22 Blend
59$954,000$954,000$954,000$954,000
60$1,053,440$1,002,878$988,091$1,098,432
61$1,122,618$1,013,746$982,919$1,140,808
62$1,197,647$1,023,941$976,369$1,183,021
63$1,279,085$1,033,392$968,355$1,228,137
64$1,367,547$1,042,024$958,790$1,276,448
65$1,463,708$1,049,755$947,582$1,328,271
66$1,568,314$1,056,500$934,633$1,383,962
67$1,682,181$1,062,168$919,842$1,443,910
68$1,806,211$1,066,662$903,104$1,508,549
69$1,941,394$1,069,878$884,308$1,578,356
70$2,088,820$1,071,706$863,336$1,653,862
71$2,249,690$1,072,030$840,069$1,735,651
72$2,425,325$1,070,726$814,377$1,824,370
73$2,617,179$1,067,662$786,130$1,920,734
74$2,826,853$1,062,699$755,187$2,025,534
75$3,056,110$1,055,689$721,403$2,139,642
76$3,306,889$1,046,474$684,626$2,264,026
77$3,581,328$1,034,888$644,697$2,399,752
78$3,881,780$1,020,753$601,451$2,547,999
79$4,210,835$1,003,884$554,713$2,710,070
80$4,571,347$984,081$504,303$2,887,404
81$4,966,458$961,135$450,031$3,081,591
82$5,399,628$934,822$391,699$3,294,387
83$5,874,670$904,908$329,100$3,527,732
84$6,395,780$871,142$262,019$3,783,768
85$6,967,584$833,262$190,230$4,064,861
86$7,595,173$790,988$113,499$4,373,621
87$8,284,159$744,025$31,580$4,712,935
88$9,040,722$692,060$0$5,085,984
89$9,871,668$634,763$0$5,509,394
90$10,784,498$571,786$0$5,982,698
91$11,787,473$502,760$0$6,502,824
92$12,889,694$427,295$0$7,074,568
93$14,101,189$344,978$0$7,703,218
94$15,433,004$255,376$0$8,394,607
95$16,897,309$158,028$0$9,155,165
96$18,507,513$52,449$0$9,991,986
97$20,278,387$0$0$10,912,889
98$22,226,209$0$0$11,946,242
99$24,368,911$0$0$13,101,511
100$26,726,250$0$0$14,372,625