Can I retire at age 60 with 967,000?

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 $967,000?

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$79,854$79,143$78,449$77,771$77,110$76,020
2 years$39,532$38,795$38,082$37,390$36,719$35,623
3 years$26,093$25,353$24,642$23,956$23,296$22,228
4 years$19,374$18,637$17,933$17,259$16,615$15,584
5 years$15,345$14,612$13,917$13,257$12,630$11,638
6 years$12,659$11,932$11,247$10,601$9,994$9,042
7 years$10,741$10,020$9,346$8,716$8,128$7,217
8 years$9,304$8,589$7,926$7,312$6,743$5,872
9 years$8,186$7,478$6,827$6,228$5,678$4,848
10 years$7,293$6,592$5,952$5,369$4,838$4,048
11 years$6,562$5,868$5,240$4,672$4,161$3,409
12 years$5,954$5,267$4,650$4,098$3,606$2,892
13 years$5,440$4,760$4,155$3,618$3,144$2,468
14 years$4,999$4,327$3,733$3,212$2,756$2,115
15 years$4,618$3,952$3,370$2,864$2,427$1,821
16 years$4,284$3,626$3,056$2,565$2,145$1,572
17 years$3,990$3,340$2,781$2,304$1,902$1,362
18 years$3,729$3,086$2,538$2,077$1,691$1,182
19 years$3,496$2,860$2,324$1,876$1,507$1,028
20 years$3,287$2,658$2,133$1,699$1,346$896
21 years$3,097$2,476$1,962$1,542$1,205$782
22 years$2,925$2,311$1,808$1,402$1,080$684
23 years$2,768$2,161$1,669$1,277$969$598
24 years$2,625$2,025$1,544$1,165$871$524
25 years$2,493$1,900$1,430$1,064$784$459
26 years$2,372$1,786$1,326$973$706$403
27 years$2,259$1,681$1,231$890$637$353
28 years$2,155$1,584$1,145$816$575$310
29 years$2,059$1,494$1,065$748$519$273
30 years$1,968$1,411$992$687$469$240
31 years$1,884$1,334$925$631$424$211
32 years$1,806$1,262$863$579$383$185
33 years$1,732$1,195$806$533$347$163
34 years$1,662$1,133$753$490$314$144
35 years$1,597$1,075$704$451$285$126
36 years$1,536$1,020$659$416$258$111
37 years$1,478$969$616$383$234$98
38 years$1,423$921$577$353$212$86
39 years$1,371$875$541$325$192$76
40 years$1,322$833$507$300$174$67
41 years$1,275$793$475$277$158$59
42 years$1,231$755$446$256$143$52
43 years$1,189$719$418$236$130$46
44 years$1,149$686$393$218$118$40
45 years$1,111$654$369$201$107$36
46 years$1,074$624$346$186$97$31
47 years$1,040$595$325$172$88$28
48 years$1,006$568$306$159$80$24
49 years$975$543$287$147$73$22
50 years$944$518$270$136$66$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $967,000, adding $5,113 every year, while hoping to spend $33,665 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: 83/10/7 Blend
59$967,000$967,000$967,000$967,000
60$1,070,908$1,019,657$1,004,669$1,158,677
61$1,144,321$1,033,801$1,002,506$1,230,929
62$1,224,095$1,047,510$999,142$1,305,193
63$1,310,841$1,060,726$994,502$1,385,694
64$1,405,235$1,073,390$988,506$1,473,037
65$1,508,018$1,085,436$981,070$1,567,888
66$1,620,008$1,096,794$972,109$1,670,982
67$1,742,104$1,107,392$961,529$1,783,125
68$1,875,294$1,117,150$949,236$1,905,208
69$2,020,668$1,125,984$935,129$2,038,211
70$2,179,424$1,133,805$919,104$2,183,213
71$2,352,882$1,140,518$901,050$2,341,403
72$2,542,493$1,146,021$880,853$2,514,090
73$2,749,858$1,150,206$858,392$2,702,718
74$2,976,737$1,152,960$833,542$2,908,877
75$3,225,069$1,154,160$806,170$3,134,318
76$3,496,990$1,153,677$776,140$3,380,969
77$3,794,849$1,151,374$743,307$3,650,957
78$4,121,237$1,147,104$707,521$3,946,625
79$4,479,005$1,140,714$668,625$4,270,552
80$4,871,293$1,132,039$626,453$4,625,583
81$5,301,560$1,120,904$580,835$5,014,850
82$5,773,617$1,107,126$531,591$5,441,806
83$6,291,660$1,090,509$478,533$5,910,256
84$6,860,311$1,070,845$421,465$6,424,392
85$7,484,661$1,047,916$360,183$6,988,834
86$8,170,320$1,021,487$294,473$7,608,671
87$8,923,466$991,314$224,111$8,289,513
88$9,750,906$957,134$148,865$9,037,542
89$10,660,139$918,674$68,492$9,859,571
90$11,659,424$875,640$0$10,763,106
91$12,757,862$827,723$0$11,757,711
92$13,965,481$774,598$0$12,856,754
93$15,293,325$715,919$0$14,065,183
94$16,753,566$651,320$0$15,394,090
95$18,359,611$580,417$0$16,855,698
96$20,126,234$502,800$0$18,463,479
97$22,069,712$418,039$0$20,232,275
98$24,207,978$325,679$0$22,178,440
99$26,560,793$225,239$0$24,320,000
100$29,149,929$116,210$0$26,676,813