Can I retire at age 60 with 965,000?

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 $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%13.4%
1 years$79,689$78,979$78,286$77,610$76,950$75,863
2 years$39,450$38,715$38,003$37,313$36,643$35,550
3 years$26,039$25,301$24,591$23,907$23,248$22,182
4 years$19,334$18,599$17,896$17,223$16,581$15,551
5 years$15,313$14,582$13,888$13,229$12,604$11,614
6 years$12,633$11,907$11,223$10,580$9,973$9,024
7 years$10,719$9,999$9,327$8,698$8,111$7,202
8 years$9,285$8,571$7,910$7,297$6,729$5,860
9 years$8,169$7,463$6,813$6,215$5,667$4,838
10 years$7,278$6,578$5,939$5,357$4,828$4,039
11 years$6,549$5,856$5,229$4,663$4,152$3,402
12 years$5,942$5,256$4,641$4,090$3,598$2,886
13 years$5,428$4,750$4,146$3,611$3,138$2,462
14 years$4,989$4,318$3,725$3,205$2,751$2,111
15 years$4,608$3,944$3,363$2,858$2,422$1,817
16 years$4,275$3,619$3,049$2,559$2,141$1,569
17 years$3,982$3,333$2,775$2,300$1,898$1,359
18 years$3,722$3,080$2,533$2,072$1,688$1,180
19 years$3,489$2,854$2,319$1,873$1,504$1,026
20 years$3,280$2,652$2,128$1,696$1,344$894
21 years$3,091$2,470$1,958$1,539$1,202$781
22 years$2,919$2,306$1,804$1,399$1,078$682
23 years$2,763$2,157$1,666$1,275$967$597
24 years$2,619$2,021$1,541$1,162$870$523
25 years$2,488$1,896$1,427$1,062$782$458
26 years$2,367$1,782$1,323$971$705$402
27 years$2,255$1,677$1,229$888$635$353
28 years$2,151$1,581$1,142$814$573$310
29 years$2,054$1,491$1,063$746$518$272
30 years$1,964$1,408$990$685$468$239
31 years$1,880$1,331$923$629$423$210
32 years$1,802$1,260$861$578$383$185
33 years$1,728$1,193$804$532$346$163
34 years$1,659$1,131$751$489$313$143
35 years$1,594$1,072$703$450$284$126
36 years$1,533$1,018$657$415$257$111
37 years$1,475$967$615$382$233$98
38 years$1,420$919$576$352$211$86
39 years$1,368$874$540$325$192$76
40 years$1,319$831$506$300$174$67
41 years$1,273$791$474$276$158$59
42 years$1,229$753$445$255$143$52
43 years$1,187$718$418$235$130$46
44 years$1,147$684$392$217$118$40
45 years$1,108$653$368$201$107$36
46 years$1,072$623$346$185$97$31
47 years$1,037$594$325$171$88$28
48 years$1,004$567$305$158$80$24
49 years$973$542$287$146$73$21
50 years$942$517$270$135$66$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $965,000, adding $3,522 every year, while hoping to spend $29,664 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: 61/30/9 Blend
59$965,000$965,000$965,000$965,000
60$1,067,063$1,015,918$1,000,960$1,129,824
61$1,144,341$1,034,136$1,002,930$1,190,502
62$1,228,507$1,052,252$1,003,972$1,252,958
63$1,320,233$1,070,230$1,004,023$1,320,362
64$1,420,257$1,088,032$1,003,018$1,393,193
65$1,529,392$1,105,614$1,000,888$1,471,979
66$1,648,534$1,122,933$997,561$1,557,299
67$1,778,667$1,139,939$992,962$1,649,793
68$1,920,876$1,156,581$987,011$1,750,169
69$2,076,355$1,172,803$979,626$1,859,202
70$2,246,418$1,188,546$970,719$1,977,749
71$2,432,514$1,203,746$960,199$2,106,757
72$2,636,236$1,218,335$947,971$2,247,265
73$2,859,339$1,232,240$933,935$2,400,421
74$3,103,756$1,245,384$917,987$2,567,492
75$3,371,616$1,257,685$900,016$2,749,871
76$3,665,263$1,269,053$879,908$2,949,096
77$3,987,278$1,279,396$857,544$3,166,862
78$4,340,506$1,288,612$832,797$3,405,038
79$4,728,079$1,296,595$805,537$3,665,684
80$5,153,447$1,303,232$775,626$3,951,070
81$5,620,410$1,308,402$742,921$4,263,700
82$6,133,155$1,311,976$707,272$4,606,334
83$6,696,293$1,313,819$668,522$4,982,015
84$7,314,904$1,313,785$626,506$5,394,096
85$7,994,584$1,311,721$581,054$5,846,275
86$8,741,498$1,307,462$531,986$6,342,629
87$9,562,440$1,300,836$479,116$6,887,652
88$10,464,890$1,291,658$422,248$7,486,297
89$11,457,093$1,279,734$361,178$8,144,027
90$12,548,132$1,264,857$295,693$8,866,861
91$13,748,013$1,246,806$225,570$9,661,438
92$15,067,761$1,225,350$150,577$10,535,072
93$16,519,523$1,200,242$70,472$11,495,831
94$18,116,682$1,171,222$0$12,552,605
95$19,873,985$1,138,013$0$13,716,638
96$21,807,679$1,100,323$0$15,004,607
97$23,935,666$1,057,843$0$16,421,675
98$26,277,671$1,010,244$0$17,980,999
99$28,855,428$957,181$0$19,697,079
100$31,692,886$898,288$0$21,585,899