Can I retire at age 60 with 961,000?

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 $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%14.3%
1 years$79,358$78,652$77,962$77,289$76,631$75,269
2 years$39,286$38,555$37,846$37,158$36,491$35,123
3 years$25,931$25,196$24,489$23,808$23,152$21,821
4 years$19,254$18,522$17,821$17,152$16,512$15,228
5 years$15,249$14,521$13,830$13,174$12,552$11,319
6 years$12,580$11,858$11,177$10,536$9,932$8,752
7 years$10,675$9,958$9,288$8,662$8,077$6,950
8 years$9,246$8,536$7,877$7,266$6,701$5,626
9 years$8,135$7,432$6,784$6,189$5,643$4,620
10 years$7,248$6,551$5,915$5,335$4,808$3,836
11 years$6,522$5,832$5,207$4,643$4,135$3,213
12 years$5,917$5,234$4,621$4,073$3,584$2,710
13 years$5,406$4,730$4,129$3,596$3,125$2,298
14 years$4,968$4,300$3,710$3,192$2,739$1,958
15 years$4,589$3,928$3,349$2,847$2,412$1,675
16 years$4,258$3,604$3,037$2,549$2,132$1,438
17 years$3,966$3,319$2,763$2,290$1,890$1,237
18 years$3,706$3,067$2,523$2,064$1,681$1,067
19 years$3,474$2,842$2,309$1,865$1,498$922
20 years$3,266$2,641$2,119$1,689$1,338$798
21 years$3,078$2,460$1,949$1,533$1,197$692
22 years$2,907$2,297$1,797$1,394$1,073$601
23 years$2,751$2,148$1,659$1,269$963$522
24 years$2,609$2,012$1,534$1,158$866$454
25 years$2,478$1,889$1,421$1,057$779$395
26 years$2,357$1,775$1,318$967$702$344
27 years$2,245$1,670$1,224$885$633$300
28 years$2,142$1,574$1,138$811$571$261
29 years$2,046$1,485$1,059$743$516$228
30 years$1,956$1,402$986$682$466$199
31 years$1,873$1,326$919$627$421$174
32 years$1,794$1,254$858$576$381$152
33 years$1,721$1,188$801$530$345$132
34 years$1,652$1,126$748$487$312$116
35 years$1,587$1,068$700$449$283$101
36 years$1,526$1,014$654$413$256$88
37 years$1,469$963$613$381$232$77
38 years$1,414$915$574$351$211$67
39 years$1,363$870$537$323$191$59
40 years$1,314$828$504$298$173$52
41 years$1,268$788$472$275$157$45
42 years$1,223$750$443$254$143$39
43 years$1,182$715$416$235$129$34
44 years$1,142$681$390$217$117$30
45 years$1,104$650$366$200$107$26
46 years$1,068$620$344$185$97$23
47 years$1,033$592$323$171$88$20
48 years$1,000$565$304$158$80$18
49 years$968$539$286$146$72$15
50 years$938$515$269$135$66$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $961,000, adding $4,274 every year, while hoping to spend $29,500 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: 46/33/21 Blend
59$961,000$961,000$961,000$961,000
60$1,063,431$1,012,498$997,602$1,105,776
61$1,140,513$1,030,722$999,634$1,154,110
62$1,224,469$1,048,851$1,000,745$1,203,256
63$1,315,968$1,066,849$1,000,874$1,255,968
64$1,415,748$1,084,676$999,955$1,312,594
65$1,524,621$1,102,291$997,920$1,373,517
66$1,643,480$1,119,651$994,697$1,439,157
67$1,773,308$1,136,707$990,212$1,509,981
68$1,915,187$1,153,407$984,386$1,586,502
69$2,070,309$1,169,697$977,137$1,669,289
70$2,239,987$1,185,518$968,377$1,758,966
71$2,425,665$1,200,808$958,017$1,856,226
72$2,628,933$1,215,498$945,961$1,961,831
73$2,851,545$1,229,518$932,111$2,076,621
74$3,095,428$1,242,790$916,362$2,201,528
75$3,362,707$1,255,233$898,606$2,337,574
76$3,655,723$1,266,759$878,729$2,485,893
77$3,977,052$1,277,275$856,612$2,647,732
78$4,329,533$1,286,683$832,130$2,824,469
79$4,716,292$1,294,877$805,153$3,017,623
80$5,140,772$1,301,744$775,544$3,228,873
81$5,606,766$1,307,166$743,160$3,460,068
82$6,118,454$1,311,014$707,854$3,713,251
83$6,680,438$1,313,155$669,468$3,990,675
84$7,297,787$1,313,445$627,840$4,294,825
85$7,976,089$1,311,731$582,800$4,628,442
86$8,721,496$1,307,852$534,170$4,994,553
87$9,540,788$1,301,636$481,764$5,396,493
88$10,441,433$1,292,900$425,387$5,837,943
89$11,431,659$1,281,453$364,838$6,322,965
90$12,520,533$1,267,088$299,905$6,856,037
91$13,718,041$1,249,590$230,365$7,442,098
92$15,035,188$1,228,726$155,989$8,086,598
93$16,484,098$1,204,255$76,536$8,795,545
94$18,078,130$1,175,917$0$9,575,568
95$19,832,001$1,143,439$0$10,435,826
96$21,761,929$1,106,532$0$11,400,952
97$23,885,783$1,064,888$0$12,462,730
98$26,223,249$1,018,185$0$13,631,028
99$28,796,023$966,078$0$14,916,723
100$31,628,006$908,205$0$16,331,806