Can I retire at age 60 with 965,000?

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 $965,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$79,689$78,979$78,286$77,610$76,950$75,801
2 years$39,450$38,715$38,003$37,313$36,643$35,487
3 years$26,039$25,301$24,591$23,907$23,248$22,122
4 years$19,334$18,599$17,896$17,223$16,581$15,493
5 years$15,313$14,582$13,888$13,229$12,604$11,559
6 years$12,633$11,907$11,223$10,580$9,973$8,971
7 years$10,719$9,999$9,327$8,698$8,111$7,152
8 years$9,285$8,571$7,910$7,297$6,729$5,813
9 years$8,169$7,463$6,813$6,215$5,667$4,793
10 years$7,278$6,578$5,939$5,357$4,828$3,997
11 years$6,549$5,856$5,229$4,663$4,152$3,362
12 years$5,942$5,256$4,641$4,090$3,598$2,849
13 years$5,428$4,750$4,146$3,611$3,138$2,427
14 years$4,989$4,318$3,725$3,205$2,751$2,078
15 years$4,608$3,944$3,363$2,858$2,422$1,786
16 years$4,275$3,619$3,049$2,559$2,141$1,540
17 years$3,982$3,333$2,775$2,300$1,898$1,332
18 years$3,722$3,080$2,533$2,072$1,688$1,155
19 years$3,489$2,854$2,319$1,873$1,504$1,003
20 years$3,280$2,652$2,128$1,696$1,344$873
21 years$3,091$2,470$1,958$1,539$1,202$761
22 years$2,919$2,306$1,804$1,399$1,078$664
23 years$2,763$2,157$1,666$1,275$967$580
24 years$2,619$2,021$1,541$1,162$870$507
25 years$2,488$1,896$1,427$1,062$782$444
26 years$2,367$1,782$1,323$971$705$389
27 years$2,255$1,677$1,229$888$635$340
28 years$2,151$1,581$1,142$814$573$299
29 years$2,054$1,491$1,063$746$518$262
30 years$1,964$1,408$990$685$468$230
31 years$1,880$1,331$923$629$423$202
32 years$1,802$1,260$861$578$383$177
33 years$1,728$1,193$804$532$346$156
34 years$1,659$1,131$751$489$313$137
35 years$1,594$1,072$703$450$284$120
36 years$1,533$1,018$657$415$257$106
37 years$1,475$967$615$382$233$93
38 years$1,420$919$576$352$211$82
39 years$1,368$874$540$325$192$72
40 years$1,319$831$506$300$174$63
41 years$1,273$791$474$276$158$56
42 years$1,229$753$445$255$143$49
43 years$1,187$718$418$235$130$43
44 years$1,147$684$392$217$118$38
45 years$1,108$653$368$201$107$33
46 years$1,072$623$346$185$97$29
47 years$1,037$594$325$171$88$26
48 years$1,004$567$305$158$80$23
49 years$973$542$287$146$73$20
50 years$942$517$270$135$66$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $965,000, adding $3,066 every year, while hoping to spend $46,342 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: 47/43/10 Blend
59$965,000$965,000$965,000$965,000
60$1,066,593$1,015,448$1,000,490$1,113,641
61$1,126,077$1,015,897$984,699$1,146,818
62$1,190,077$1,014,815$966,826$1,177,743
63$1,259,002$1,012,078$946,751$1,210,248
64$1,333,304$1,007,555$924,352$1,244,497
65$1,413,481$1,001,105$899,498$1,280,669
66$1,500,078$992,581$872,053$1,318,967
67$1,593,694$981,825$841,875$1,359,615
68$1,694,988$968,672$808,814$1,402,865
69$1,804,684$952,944$772,717$1,448,995
70$1,923,578$934,455$733,420$1,498,318
71$2,052,547$913,006$690,753$1,551,180
72$2,192,552$888,389$644,538$1,607,968
73$2,344,653$860,381$594,591$1,669,109
74$2,510,015$828,747$540,717$1,735,083
75$2,689,920$793,238$482,714$1,806,419
76$2,885,777$753,592$420,370$1,883,709
77$3,099,138$709,530$353,465$1,967,606
78$3,331,711$660,758$281,766$2,058,840
79$3,585,374$606,965$205,035$2,158,218
80$3,862,198$547,821$123,019$2,266,638
81$4,164,457$482,979$35,455$2,385,095
82$4,494,658$412,072$0$2,514,693
83$4,855,561$334,712$0$2,662,845
84$5,250,204$250,488$0$2,829,160
85$5,681,930$158,967$0$3,011,387
86$6,154,423$59,692$0$3,211,229
87$6,671,737$0$0$3,430,567
88$7,238,339$0$0$3,694,111
89$7,859,146$0$0$4,013,922
90$8,539,574$0$0$4,364,559
91$9,285,587$0$0$4,749,108
92$10,103,755$0$0$5,170,972
93$11,001,315$0$0$5,633,896
94$11,986,235$0$0$6,142,005
95$13,067,295$0$0$6,699,846
96$14,254,165$0$0$7,312,424
97$15,557,496$0$0$7,985,255
98$16,989,024$0$0$8,724,413
99$18,561,674$0$0$9,536,593
100$20,289,688$0$0$10,429,167