Can I retire at age 60 with 960,000?

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 $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%16.3%
1 years$79,276$78,570$77,881$77,208$76,552$74,580
2 years$39,245$38,515$37,806$37,119$36,453$34,480
3 years$25,904$25,170$24,463$23,783$23,127$21,214
4 years$19,234$18,502$17,803$17,134$16,495$14,656
5 years$15,234$14,506$13,816$13,161$12,539$10,781
6 years$12,567$11,845$11,165$10,525$9,922$8,245
7 years$10,664$9,948$9,278$8,653$8,069$6,474
8 years$9,236$8,527$7,869$7,259$6,694$5,180
9 years$8,127$7,424$6,777$6,183$5,637$4,203
10 years$7,240$6,544$5,909$5,330$4,803$3,447
11 years$6,515$5,826$5,202$4,638$4,131$2,850
12 years$5,911$5,229$4,617$4,068$3,580$2,373
13 years$5,400$4,725$4,125$3,592$3,122$1,986
14 years$4,963$4,295$3,706$3,188$2,736$1,669
15 years$4,584$3,924$3,346$2,844$2,409$1,408
16 years$4,253$3,600$3,034$2,546$2,129$1,192
17 years$3,961$3,316$2,760$2,288$1,888$1,011
18 years$3,702$3,064$2,520$2,062$1,679$859
19 years$3,471$2,839$2,307$1,863$1,496$731
20 years$3,263$2,639$2,117$1,687$1,337$624
21 years$3,075$2,458$1,947$1,531$1,196$532
22 years$2,904$2,294$1,795$1,392$1,072$455
23 years$2,748$2,146$1,657$1,268$962$389
24 years$2,606$2,010$1,533$1,156$865$333
25 years$2,475$1,887$1,420$1,056$778$285
26 years$2,354$1,773$1,317$966$701$245
27 years$2,243$1,669$1,223$884$632$210
28 years$2,140$1,572$1,136$810$570$180
29 years$2,044$1,483$1,058$743$515$154
30 years$1,954$1,401$985$682$465$132
31 years$1,871$1,324$918$626$421$114
32 years$1,792$1,253$857$575$381$98
33 years$1,719$1,187$800$529$344$84
34 years$1,650$1,125$748$487$312$72
35 years$1,586$1,067$699$448$282$62
36 years$1,525$1,013$654$413$256$53
37 years$1,467$962$612$380$232$46
38 years$1,413$914$573$350$210$39
39 years$1,361$869$537$323$191$34
40 years$1,312$827$503$298$173$29
41 years$1,266$787$472$275$157$25
42 years$1,222$750$443$254$142$21
43 years$1,180$714$415$234$129$18
44 years$1,141$681$390$216$117$16
45 years$1,103$649$366$200$106$14
46 years$1,067$619$344$185$97$12
47 years$1,032$591$323$170$88$10
48 years$999$564$304$158$80$9
49 years$967$539$285$146$72$7
50 years$937$515$268$135$66$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $960,000, adding $2,920 every year, while hoping to spend $45,897 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: 41/36/23 Blend
59$960,000$960,000$960,000$960,000
60$1,060,932$1,010,052$995,172$1,097,141
61$1,120,313$1,010,710$979,676$1,124,018
62$1,184,213$1,009,863$962,123$1,148,500
63$1,253,043$1,007,387$942,395$1,174,082
64$1,327,258$1,003,153$920,370$1,200,889
65$1,407,354$997,024$895,918$1,229,064
66$1,493,879$988,853$868,906$1,258,768
67$1,587,433$978,485$839,192$1,290,180
68$1,688,676$965,756$806,631$1,323,501
69$1,798,335$950,492$771,067$1,358,957
70$1,917,208$932,508$732,340$1,396,802
71$2,046,172$911,610$690,283$1,437,318
72$2,186,193$887,591$644,718$1,480,822
73$2,338,333$860,231$595,464$1,527,667
74$2,503,759$829,298$542,328$1,578,247
75$2,683,756$794,547$485,110$1,633,004
76$2,879,738$755,719$423,600$1,692,428
77$3,093,261$712,539$357,581$1,757,066
78$3,326,036$664,716$286,823$1,827,529
79$3,579,949$611,944$211,088$1,904,496
80$3,857,072$553,898$130,128$1,988,721
81$4,159,689$490,234$43,683$2,081,045
82$4,490,313$420,591$0$2,182,403
83$4,851,709$344,585$0$2,305,751
84$5,246,925$261,811$0$2,452,540
85$5,679,313$171,842$0$2,613,390
86$6,152,567$74,226$0$2,789,800
87$6,670,753$0$0$2,983,426
88$7,238,348$0$0$3,208,584
89$7,860,284$0$0$3,487,639
90$8,541,992$0$0$3,793,639
91$9,289,452$0$0$4,129,283
92$10,109,254$0$0$4,497,548
93$11,008,651$0$0$4,901,708
94$11,995,637$0$0$5,345,373
95$13,079,016$0$0$5,832,519
96$14,268,483$0$0$6,367,523
97$15,574,721$0$0$6,955,211
98$17,009,497$0$0$7,600,896
99$18,585,774$0$0$8,310,433
100$20,317,833$0$0$9,090,271