Can I retire at age 60 with 960,000?

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 $960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$79,276$78,570$77,881$77,208$76,552$75,564
2 years$39,245$38,515$37,806$37,119$36,453$35,459
3 years$25,904$25,170$24,463$23,783$23,127$22,158
4 years$19,234$18,502$17,803$17,134$16,495$15,558
5 years$15,234$14,506$13,816$13,161$12,539$11,637
6 years$12,567$11,845$11,165$10,525$9,922$9,056
7 years$10,664$9,948$9,278$8,653$8,069$7,240
8 years$9,236$8,527$7,869$7,259$6,694$5,902
9 years$8,127$7,424$6,777$6,183$5,637$4,881
10 years$7,240$6,544$5,909$5,330$4,803$4,082
11 years$6,515$5,826$5,202$4,638$4,131$3,445
12 years$5,911$5,229$4,617$4,068$3,580$2,928
13 years$5,400$4,725$4,125$3,592$3,122$2,503
14 years$4,963$4,295$3,706$3,188$2,736$2,150
15 years$4,584$3,924$3,346$2,844$2,409$1,854
16 years$4,253$3,600$3,034$2,546$2,129$1,605
17 years$3,961$3,316$2,760$2,288$1,888$1,393
18 years$3,702$3,064$2,520$2,062$1,679$1,212
19 years$3,471$2,839$2,307$1,863$1,496$1,056
20 years$3,263$2,639$2,117$1,687$1,337$923
21 years$3,075$2,458$1,947$1,531$1,196$807
22 years$2,904$2,294$1,795$1,392$1,072$707
23 years$2,748$2,146$1,657$1,268$962$620
24 years$2,606$2,010$1,533$1,156$865$544
25 years$2,475$1,887$1,420$1,056$778$478
26 years$2,354$1,773$1,317$966$701$420
27 years$2,243$1,669$1,223$884$632$370
28 years$2,140$1,572$1,136$810$570$326
29 years$2,044$1,483$1,058$743$515$287
30 years$1,954$1,401$985$682$465$253
31 years$1,871$1,324$918$626$421$223
32 years$1,792$1,253$857$575$381$196
33 years$1,719$1,187$800$529$344$173
34 years$1,650$1,125$748$487$312$153
35 years$1,586$1,067$699$448$282$135
36 years$1,525$1,013$654$413$256$119
37 years$1,467$962$612$380$232$105
38 years$1,413$914$573$350$210$93
39 years$1,361$869$537$323$191$82
40 years$1,312$827$503$298$173$72
41 years$1,266$787$472$275$157$64
42 years$1,222$750$443$254$142$57
43 years$1,180$714$415$234$129$50
44 years$1,141$681$390$216$117$44
45 years$1,103$649$366$200$106$39
46 years$1,067$619$344$185$97$34
47 years$1,032$591$323$170$88$30
48 years$999$564$304$158$80$27
49 years$967$539$285$146$72$24
50 years$937$515$268$135$66$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $960,000, adding $2,400 every year, while hoping to spend $34,858 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: 61/17/22 Blend
59$960,000$960,000$960,000$960,000
60$1,060,396$1,009,516$994,636$1,118,803
61$1,131,467$1,021,893$990,867$1,171,013
62$1,208,620$1,033,709$985,804$1,223,923
63$1,292,437$1,044,899$979,367$1,280,892
64$1,383,561$1,055,394$971,470$1,342,321
65$1,482,697$1,065,121$962,027$1,408,649
66$1,590,622$1,074,002$950,945$1,480,366
67$1,708,191$1,081,954$938,128$1,558,008
68$1,836,345$1,088,888$923,474$1,642,170
69$1,976,120$1,094,711$906,877$1,733,507
70$2,128,653$1,099,321$888,227$1,832,742
71$2,295,201$1,102,613$867,408$1,940,673
72$2,477,144$1,104,473$844,299$2,058,180
73$2,676,002$1,104,782$818,772$2,186,235
74$2,893,448$1,103,410$790,694$2,325,910
75$3,131,325$1,100,222$759,928$2,478,388
76$3,391,662$1,095,075$726,328$2,644,975
77$3,676,693$1,087,815$689,741$2,827,110
78$3,988,878$1,078,281$650,010$3,026,383
79$4,330,927$1,066,300$606,969$3,244,546
80$4,705,823$1,051,690$560,444$3,483,534
81$5,116,853$1,034,259$510,254$3,745,480
82$5,567,635$1,013,800$456,211$4,032,738
83$6,062,156$990,099$398,116$4,347,904
84$6,604,807$962,925$335,764$4,693,842
85$7,200,424$932,035$268,939$5,073,711
86$7,854,335$897,172$197,416$5,490,995
87$8,572,407$858,064$120,960$5,949,538
88$9,361,107$814,423$39,326$6,453,577
89$10,227,555$765,944$0$7,007,789
90$11,179,596$712,306$0$7,628,548
91$12,225,873$653,168$0$8,320,902
92$13,375,909$588,170$0$9,081,945
93$14,640,193$516,931$0$9,918,661
94$16,030,282$439,050$0$10,838,747
95$17,558,908$354,101$0$11,850,685
96$19,240,101$261,637$0$12,963,827
97$21,089,317$161,182$0$14,188,475
98$23,123,584$52,237$0$15,535,989
99$25,361,666$0$0$17,018,886
100$27,824,236$0$0$18,663,258