Can I retire at age 60 with 961,000?

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 $961,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$79,358$78,652$77,962$77,289$76,631$75,768
2 years$39,286$38,555$37,846$37,158$36,491$35,622
3 years$25,931$25,196$24,489$23,808$23,152$22,304
4 years$19,254$18,522$17,821$17,152$16,512$15,692
5 years$15,249$14,521$13,830$13,174$12,552$11,762
6 years$12,580$11,858$11,177$10,536$9,932$9,173
7 years$10,675$9,958$9,288$8,662$8,077$7,350
8 years$9,246$8,536$7,877$7,266$6,701$6,005
9 years$8,135$7,432$6,784$6,189$5,643$4,978
10 years$7,248$6,551$5,915$5,335$4,808$4,174
11 years$6,522$5,832$5,207$4,643$4,135$3,531
12 years$5,917$5,234$4,621$4,073$3,584$3,009
13 years$5,406$4,730$4,129$3,596$3,125$2,579
14 years$4,968$4,300$3,710$3,192$2,739$2,221
15 years$4,589$3,928$3,349$2,847$2,412$1,921
16 years$4,258$3,604$3,037$2,549$2,132$1,667
17 years$3,966$3,319$2,763$2,290$1,890$1,451
18 years$3,706$3,067$2,523$2,064$1,681$1,266
19 years$3,474$2,842$2,309$1,865$1,498$1,107
20 years$3,266$2,641$2,119$1,689$1,338$969
21 years$3,078$2,460$1,949$1,533$1,197$850
22 years$2,907$2,297$1,797$1,394$1,073$747
23 years$2,751$2,148$1,659$1,269$963$657
24 years$2,609$2,012$1,534$1,158$866$579
25 years$2,478$1,889$1,421$1,057$779$510
26 years$2,357$1,775$1,318$967$702$450
27 years$2,245$1,670$1,224$885$633$397
28 years$2,142$1,574$1,138$811$571$351
29 years$2,046$1,485$1,059$743$516$310
30 years$1,956$1,402$986$682$466$274
31 years$1,873$1,326$919$627$421$242
32 years$1,794$1,254$858$576$381$214
33 years$1,721$1,188$801$530$345$190
34 years$1,652$1,126$748$487$312$168
35 years$1,587$1,068$700$449$283$149
36 years$1,526$1,014$654$413$256$132
37 years$1,469$963$613$381$232$117
38 years$1,414$915$574$351$211$103
39 years$1,363$870$537$323$191$92
40 years$1,314$828$504$298$173$81
41 years$1,268$788$472$275$157$72
42 years$1,223$750$443$254$143$64
43 years$1,182$715$416$235$129$57
44 years$1,142$681$390$217$117$50
45 years$1,104$650$366$200$107$45
46 years$1,068$620$344$185$97$39
47 years$1,033$592$323$171$88$35
48 years$1,000$565$304$158$80$31
49 years$968$539$286$146$72$28
50 years$938$515$269$135$66$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $961,000, adding $3,805 every year, while hoping to spend $58,710 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: 37/43/20 Blend
59$961,000$961,000$961,000$961,000
60$1,062,947$1,012,014$997,118$1,095,742
61$1,108,900$999,136$968,055$1,107,012
62$1,157,574$983,658$936,050$1,113,391
63$1,209,182$965,393$900,943$1,119,071
64$1,263,960$944,140$862,567$1,124,024
65$1,322,167$919,685$820,745$1,128,223
66$1,384,082$891,804$775,295$1,131,644
67$1,450,016$860,260$726,024$1,134,265
68$1,520,304$824,799$672,733$1,136,069
69$1,595,317$785,157$615,212$1,137,044
70$1,675,460$741,049$553,242$1,137,182
71$1,761,176$692,180$486,594$1,136,483
72$1,852,952$638,232$415,031$1,134,953
73$1,951,321$578,874$338,302$1,132,609
74$2,056,869$513,752$256,149$1,129,476
75$2,170,238$442,494$168,298$1,125,593
76$2,292,132$364,707$74,467$1,121,011
77$2,423,327$279,975$0$1,115,797
78$2,564,672$187,859$0$1,115,514
79$2,717,100$87,896$0$1,132,104
80$2,881,638$0$0$1,149,856
81$3,059,410$0$0$1,178,650
82$3,251,657$0$0$1,254,870
83$3,459,739$0$0$1,337,478
84$3,685,152$0$0$1,427,082
85$3,929,541$0$0$1,524,352
86$4,194,717$0$0$1,630,021
87$4,482,667$0$0$1,744,899
88$4,795,582$0$0$1,869,877
89$5,135,867$0$0$2,005,932
90$5,506,173$0$0$2,154,143
91$5,909,412$0$0$2,315,696
92$6,348,793$0$0$2,491,894
93$6,827,844$0$0$2,684,174
94$7,350,450$0$0$2,894,118
95$7,920,886$0$0$3,123,464
96$8,543,858$0$0$3,374,129
97$9,224,547$0$0$3,648,223
98$9,968,657$0$0$3,948,067
99$10,782,467$0$0$4,276,218
100$11,672,891$0$0$4,635,493