Can I retire at age 60 with 964,000?

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 $964,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$79,606$78,897$78,205$77,530$76,871$75,073
2 years$39,409$38,675$37,964$37,274$36,605$34,805
3 years$26,012$25,275$24,565$23,882$23,224$21,476
4 years$19,314$18,579$17,877$17,206$16,563$14,882
5 years$15,297$14,567$13,873$13,215$12,591$10,981
6 years$12,620$11,895$11,212$10,569$9,963$8,426
7 years$10,708$9,989$9,317$8,689$8,103$6,639
8 years$9,275$8,563$7,902$7,289$6,722$5,330
9 years$8,161$7,455$6,806$6,209$5,661$4,341
10 years$7,270$6,571$5,933$5,352$4,823$3,573
11 years$6,542$5,850$5,224$4,658$4,148$2,966
12 years$5,935$5,251$4,636$4,085$3,595$2,479
13 years$5,423$4,745$4,142$3,607$3,135$2,083
14 years$4,984$4,313$3,721$3,202$2,748$1,758
15 years$4,603$3,940$3,360$2,855$2,419$1,490
16 years$4,271$3,615$3,046$2,557$2,138$1,266
17 years$3,978$3,329$2,772$2,297$1,896$1,078
18 years$3,718$3,076$2,530$2,070$1,686$921
19 years$3,485$2,851$2,317$1,871$1,503$787
20 years$3,276$2,650$2,126$1,694$1,342$674
21 years$3,088$2,468$1,955$1,538$1,201$578
22 years$2,916$2,304$1,802$1,398$1,077$497
23 years$2,760$2,155$1,664$1,273$966$427
24 years$2,617$2,019$1,539$1,161$869$367
25 years$2,485$1,894$1,425$1,061$782$316
26 years$2,364$1,781$1,322$970$704$272
27 years$2,252$1,676$1,228$888$635$234
28 years$2,149$1,579$1,141$813$573$202
29 years$2,052$1,490$1,062$746$517$174
30 years$1,962$1,407$989$684$467$150
31 years$1,878$1,330$922$629$422$130
32 years$1,800$1,258$860$578$382$112
33 years$1,726$1,192$803$531$346$97
34 years$1,657$1,129$751$489$313$83
35 years$1,592$1,071$702$450$284$72
36 years$1,531$1,017$657$414$257$62
37 years$1,473$966$614$382$233$54
38 years$1,419$918$575$352$211$46
39 years$1,367$873$539$324$191$40
40 years$1,318$830$505$299$174$35
41 years$1,271$790$474$276$158$30
42 years$1,227$753$444$255$143$26
43 years$1,185$717$417$235$130$22
44 years$1,145$684$392$217$118$19
45 years$1,107$652$368$201$107$17
46 years$1,071$622$345$185$97$14
47 years$1,036$593$324$171$88$12
48 years$1,003$567$305$158$80$11
49 years$972$541$287$146$73$9
50 years$941$517$269$135$66$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $964,000, adding $3,933 every year, while hoping to spend $45,625 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: 33/42/25 Blend
59$964,000$964,000$964,000$964,000
60$1,066,385$1,015,293$1,000,351$1,093,331
61$1,126,612$1,016,498$985,318$1,115,173
62$1,191,452$1,016,232$968,252$1,134,323
63$1,261,329$1,014,376$949,038$1,154,051
64$1,336,706$1,010,803$927,552$1,174,438
65$1,418,094$1,005,376$903,669$1,195,579
66$1,506,052$997,952$877,254$1,217,579
67$1,601,196$988,378$848,169$1,240,558
68$1,704,203$976,493$816,268$1,264,654
69$1,815,817$962,127$781,398$1,290,023
70$1,936,856$945,096$743,400$1,316,841
71$2,068,219$925,209$702,107$1,345,309
72$2,210,895$902,263$657,346$1,375,651
73$2,365,974$876,042$608,935$1,408,120
74$2,534,653$846,317$556,684$1,443,004
75$2,718,248$812,847$500,393$1,480,623
76$2,918,209$775,376$439,856$1,521,339
77$3,136,131$733,635$374,856$1,565,556
78$3,373,770$687,336$305,167$1,613,729
79$3,633,057$636,178$230,553$1,666,366
80$3,916,119$579,841$150,767$1,724,036
81$4,225,297$517,987$65,551$1,787,375
82$4,563,168$450,259$0$1,857,093
83$4,932,568$376,279$0$1,940,757
84$5,336,622$295,648$0$2,051,579
85$5,778,769$207,946$0$2,173,119
86$6,262,795$112,728$0$2,306,559
87$6,792,873$9,524$0$2,453,207
88$7,373,593$0$0$2,614,515
89$8,010,013$0$0$2,839,306
90$8,707,705$0$0$3,090,710
91$9,472,802$0$0$3,366,553
92$10,312,062$0$0$3,669,291
93$11,232,927$0$0$4,001,628
94$12,243,594$0$0$4,366,542
95$13,353,095$0$0$4,767,315
96$14,571,375$0$0$5,207,561
97$15,909,392$0$0$5,691,263
98$17,379,216$0$0$6,222,808
99$18,994,145$0$0$6,807,027
100$20,768,828$0$0$7,449,246