Can I retire at age 60 with 966,000?

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 $966,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$79,771$79,061$78,368$77,691$77,030$75,723
2 years$39,491$38,755$38,043$37,351$36,681$35,368
3 years$26,066$25,327$24,616$23,931$23,272$21,994
4 years$19,354$18,618$17,914$17,241$16,598$15,365
5 years$15,329$14,597$13,902$13,243$12,617$11,433
6 years$12,646$11,919$11,235$10,590$9,984$8,849
7 years$10,730$10,010$9,336$8,707$8,119$7,035
8 years$9,294$8,580$7,918$7,304$6,736$5,701
9 years$8,178$7,471$6,820$6,221$5,673$4,688
10 years$7,285$6,585$5,946$5,363$4,833$3,897
11 years$6,555$5,862$5,234$4,667$4,157$3,268
12 years$5,948$5,262$4,645$4,094$3,602$2,760
13 years$5,434$4,755$4,150$3,614$3,141$2,344
14 years$4,994$4,322$3,729$3,208$2,754$2,000
15 years$4,613$3,948$3,367$2,861$2,424$1,713
16 years$4,280$3,623$3,053$2,562$2,143$1,472
17 years$3,986$3,336$2,778$2,302$1,900$1,269
18 years$3,725$3,083$2,536$2,075$1,689$1,096
19 years$3,493$2,857$2,321$1,874$1,506$948
20 years$3,283$2,655$2,130$1,698$1,345$822
21 years$3,094$2,473$1,960$1,541$1,204$714
22 years$2,922$2,308$1,806$1,401$1,079$620
23 years$2,766$2,159$1,668$1,276$968$540
24 years$2,622$2,023$1,542$1,164$870$470
25 years$2,490$1,898$1,428$1,063$783$410
26 years$2,369$1,784$1,325$972$706$358
27 years$2,257$1,679$1,230$889$636$312
28 years$2,153$1,582$1,144$815$574$273
29 years$2,056$1,493$1,064$747$518$238
30 years$1,966$1,410$991$686$468$208
31 years$1,882$1,333$924$630$423$182
32 years$1,804$1,261$862$579$383$159
33 years$1,730$1,194$805$532$347$139
34 years$1,661$1,132$752$490$314$122
35 years$1,596$1,073$703$451$284$107
36 years$1,534$1,019$658$415$258$93
37 years$1,476$968$616$383$233$82
38 years$1,422$920$577$353$212$72
39 years$1,370$874$540$325$192$63
40 years$1,321$832$506$300$174$55
41 years$1,274$792$475$277$158$48
42 years$1,230$754$445$255$143$42
43 years$1,188$719$418$236$130$37
44 years$1,148$685$392$218$118$32
45 years$1,110$653$368$201$107$28
46 years$1,073$623$346$186$97$25
47 years$1,038$595$325$172$88$22
48 years$1,005$568$305$159$80$19
49 years$974$542$287$146$73$17
50 years$943$518$270$135$66$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $966,000, adding $5,128 every year, while hoping to spend $54,764 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: 27/43/30 Blend
59$966,000$966,000$966,000$966,000
60$1,069,822$1,018,624$1,003,651$1,088,657
61$1,120,675$1,010,268$979,004$1,096,105
62$1,174,880$999,667$951,697$1,099,093
63$1,232,720$986,653$921,582$1,101,206
64$1,294,508$971,049$888,505$1,102,411
65$1,360,583$952,666$852,305$1,102,674
66$1,431,320$931,304$812,815$1,101,963
67$1,507,129$906,752$769,858$1,100,252
68$1,588,459$878,787$723,252$1,097,516
69$1,675,805$847,170$672,804$1,093,735
70$1,769,708$811,652$618,313$1,088,897
71$1,870,762$771,967$559,571$1,082,994
72$1,979,621$727,835$496,358$1,076,024
73$2,097,002$678,958$428,445$1,067,998
74$2,223,693$625,024$355,595$1,058,935
75$2,360,559$565,700$277,557$1,048,864
76$2,508,552$500,635$194,071$1,037,831
77$2,668,718$429,460$104,866$1,025,895
78$2,842,206$351,782$9,658$1,013,134
79$3,030,280$267,188$0$999,646
80$3,234,330$175,242$0$1,014,983
81$3,455,885$75,481$0$1,035,074
82$3,696,624$0$0$1,057,102
83$3,958,399$0$0$1,096,802
84$4,243,244$0$0$1,179,004
85$4,553,397$0$0$1,268,656
86$4,891,322$0$0$1,366,488
87$5,259,730$0$0$1,473,304
88$5,661,605$0$0$1,589,990
89$6,100,230$0$0$1,717,520
90$6,579,221$0$0$1,856,966
91$7,102,557$0$0$2,009,510
92$7,674,620$0$0$2,176,453
93$8,300,232$0$0$2,359,225
94$8,984,706$0$0$2,559,405
95$9,733,887$0$0$2,778,729
96$10,554,217$0$0$3,019,108
97$11,452,785$0$0$3,282,651
98$12,437,402$0$0$3,571,676
99$13,516,668$0$0$3,888,739
100$14,700,054$0$0$4,236,654