Can I retire at age 60 with 968,000?

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 $968,000?

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$79,937$79,225$78,530$77,852$77,190$75,880
2 years$39,573$38,836$38,121$37,429$36,757$35,441
3 years$26,120$25,379$24,667$23,981$23,320$22,040
4 years$19,395$18,657$17,951$17,277$16,632$15,397
5 years$15,360$14,627$13,931$13,270$12,643$11,457
6 years$12,672$11,944$11,258$10,612$10,004$8,867
7 years$10,752$10,031$9,356$8,725$8,136$7,050
8 years$9,313$8,598$7,934$7,319$6,750$5,713
9 years$8,195$7,486$6,834$6,234$5,684$4,697
10 years$7,300$6,599$5,958$5,374$4,843$3,905
11 years$6,569$5,874$5,245$4,677$4,165$3,275
12 years$5,960$5,273$4,655$4,102$3,610$2,765
13 years$5,445$4,765$4,159$3,622$3,148$2,349
14 years$5,004$4,331$3,737$3,215$2,759$2,004
15 years$4,622$3,957$3,374$2,867$2,429$1,717
16 years$4,289$3,630$3,059$2,567$2,147$1,475
17 years$3,994$3,343$2,783$2,307$1,904$1,271
18 years$3,733$3,089$2,541$2,079$1,693$1,098
19 years$3,500$2,863$2,326$1,878$1,509$950
20 years$3,290$2,660$2,135$1,701$1,348$824
21 years$3,100$2,478$1,964$1,544$1,206$715
22 years$2,928$2,313$1,810$1,404$1,081$622
23 years$2,771$2,164$1,671$1,278$970$541
24 years$2,628$2,027$1,545$1,166$872$471
25 years$2,496$1,902$1,431$1,065$785$411
26 years$2,374$1,788$1,327$974$707$358
27 years$2,262$1,683$1,233$891$637$313
28 years$2,157$1,586$1,146$817$575$273
29 years$2,061$1,496$1,066$749$519$239
30 years$1,970$1,413$993$687$469$209
31 years$1,886$1,335$926$631$424$182
32 years$1,807$1,264$864$580$384$159
33 years$1,734$1,197$807$533$347$139
34 years$1,664$1,134$754$491$314$122
35 years$1,599$1,076$705$452$285$107
36 years$1,537$1,021$659$416$258$94
37 years$1,479$970$617$383$234$82
38 years$1,425$922$578$353$212$72
39 years$1,373$876$541$326$192$63
40 years$1,323$834$507$301$174$55
41 years$1,277$794$476$277$158$48
42 years$1,232$756$446$256$144$42
43 years$1,190$720$419$236$130$37
44 years$1,150$686$393$218$118$32
45 years$1,112$655$369$201$107$28
46 years$1,075$624$347$186$97$25
47 years$1,041$596$326$172$89$22
48 years$1,007$569$306$159$80$19
49 years$976$543$288$147$73$17
50 years$945$519$270$136$66$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $968,000, adding $4,825 every year, while hoping to spend $58,176 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: 76/13/11 Blend
59$968,000$968,000$968,000$968,000
60$1,071,713$1,020,409$1,005,405$1,150,598
61$1,119,129$1,008,510$977,187$1,191,336
62$1,169,431$994,079$946,074$1,228,131
63$1,222,854$976,929$911,908$1,266,826
64$1,279,650$956,864$874,522$1,307,590
65$1,340,100$933,676$833,745$1,350,607
66$1,404,509$907,144$789,393$1,396,084
67$1,473,210$877,035$741,279$1,444,246
68$1,546,570$843,103$689,205$1,495,345
69$1,624,991$805,085$632,964$1,549,657
70$1,708,911$762,706$572,339$1,607,490
71$1,798,814$715,672$507,106$1,669,181
72$1,895,227$663,675$437,029$1,735,105
73$1,998,733$606,387$361,862$1,805,675
74$2,109,967$543,464$281,348$1,881,350
75$2,229,629$474,539$195,219$1,962,634
76$2,358,487$399,227$103,194$2,050,086
77$2,497,383$317,120$4,982$2,144,324
78$2,647,244$227,787$0$2,246,031
79$2,809,088$130,773$0$2,367,676
80$2,984,032$25,598$0$2,499,764
81$3,173,306$0$0$2,642,668
82$3,378,259$0$0$2,810,070
83$3,600,379$0$0$2,995,491
84$3,841,297$0$0$3,196,638
85$4,102,809$0$0$3,415,013
86$4,386,891$0$0$3,652,271
87$4,695,716$0$0$3,910,230
88$5,031,674$0$0$4,190,892
89$5,397,395$0$0$4,496,459
90$5,795,773$0$0$4,829,353
91$6,229,992$0$0$5,192,242
92$6,703,559$0$0$5,588,060
93$7,220,329$0$0$6,020,037
94$7,784,549$0$0$6,491,728
95$8,400,894$0$0$7,007,048
96$9,074,509$0$0$7,570,304
97$9,811,060$0$0$8,186,242
98$10,616,784$0$0$8,860,085
99$11,498,549$0$0$9,597,583
100$12,463,918$0$0$10,405,069