Can I retire at age 60 with 968,000?

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 $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%19.3%
1 years$79,937$79,225$78,530$77,852$77,190$74,303
2 years$39,573$38,836$38,121$37,429$36,757$33,882
3 years$26,120$25,379$24,667$23,981$23,320$20,547
4 years$19,395$18,657$17,951$17,277$16,632$13,982
5 years$15,360$14,627$13,931$13,270$12,643$10,123
6 years$12,672$11,944$11,258$10,612$10,004$7,616
7 years$10,752$10,031$9,356$8,725$8,136$5,879
8 years$9,313$8,598$7,934$7,319$6,750$4,621
9 years$8,195$7,486$6,834$6,234$5,684$3,682
10 years$7,300$6,599$5,958$5,374$4,843$2,963
11 years$6,569$5,874$5,245$4,677$4,165$2,403
12 years$5,960$5,273$4,655$4,102$3,610$1,961
13 years$5,445$4,765$4,159$3,622$3,148$1,608
14 years$5,004$4,331$3,737$3,215$2,759$1,324
15 years$4,622$3,957$3,374$2,867$2,429$1,094
16 years$4,289$3,630$3,059$2,567$2,147$906
17 years$3,994$3,343$2,783$2,307$1,904$751
18 years$3,733$3,089$2,541$2,079$1,693$625
19 years$3,500$2,863$2,326$1,878$1,509$520
20 years$3,290$2,660$2,135$1,701$1,348$433
21 years$3,100$2,478$1,964$1,544$1,206$361
22 years$2,928$2,313$1,810$1,404$1,081$302
23 years$2,771$2,164$1,671$1,278$970$252
24 years$2,628$2,027$1,545$1,166$872$211
25 years$2,496$1,902$1,431$1,065$785$176
26 years$2,374$1,788$1,327$974$707$147
27 years$2,262$1,683$1,233$891$637$123
28 years$2,157$1,586$1,146$817$575$103
29 years$2,061$1,496$1,066$749$519$86
30 years$1,970$1,413$993$687$469$72
31 years$1,886$1,335$926$631$424$61
32 years$1,807$1,264$864$580$384$51
33 years$1,734$1,197$807$533$347$43
34 years$1,664$1,134$754$491$314$36
35 years$1,599$1,076$705$452$285$30
36 years$1,537$1,021$659$416$258$25
37 years$1,479$970$617$383$234$21
38 years$1,425$922$578$353$212$18
39 years$1,373$876$541$326$192$15
40 years$1,323$834$507$301$174$12
41 years$1,277$794$476$277$158$10
42 years$1,232$756$446$256$144$9
43 years$1,190$720$419$236$130$7
44 years$1,150$686$393$218$118$6
45 years$1,112$655$369$201$107$5
46 years$1,075$624$347$186$97$4
47 years$1,041$596$326$172$89$4
48 years$1,007$569$306$159$80$3
49 years$976$543$288$147$73$3
50 years$945$519$270$136$66$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $968,000, adding $2,380 every year, while hoping to spend $40,991 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: 67/11/22 Blend
59$968,000$968,000$968,000$968,000
60$1,069,191$1,017,887$1,002,883$1,134,707
61$1,134,634$1,024,149$992,865$1,185,207
62$1,205,379$1,029,345$981,138$1,235,486
63$1,281,923$1,033,378$967,602$1,289,503
64$1,364,812$1,036,146$952,149$1,347,628
65$1,454,648$1,037,543$934,672$1,410,268
66$1,552,092$1,037,452$915,053$1,477,870
67$1,657,872$1,035,753$893,173$1,550,930
68$1,772,785$1,032,316$868,906$1,629,995
69$1,897,713$1,027,004$842,118$1,715,669
70$2,033,623$1,019,670$812,672$1,808,619
71$2,181,580$1,010,161$780,424$1,909,579
72$2,342,755$998,313$745,222$2,019,361
73$2,518,437$983,951$706,908$2,138,863
74$2,710,046$966,893$665,317$2,269,072
75$2,919,142$946,942$620,277$2,411,080
76$3,147,446$923,894$571,608$2,566,092
77$3,396,849$897,528$519,120$2,735,437
78$3,669,435$867,614$462,617$2,920,582
79$3,967,496$833,906$401,894$3,123,146
80$4,293,559$796,146$336,736$3,344,914
81$4,650,404$754,059$266,918$3,587,856
82$5,041,092$707,355$192,207$3,854,148
83$5,468,996$655,727$112,358$4,146,187
84$5,937,827$598,852$27,116$4,466,621
85$6,451,676$536,386$0$4,818,367
86$7,015,045$467,967$0$5,219,635
87$7,632,895$393,212$0$5,666,756
88$8,310,688$311,718$0$6,157,344
89$9,054,442$223,056$0$6,695,793
90$9,870,786$126,776$0$7,286,943
91$10,767,019$22,401$0$7,936,130
92$11,751,184$0$0$8,649,233
93$12,832,142$0$0$9,443,696
94$14,019,650$0$0$10,319,511
95$15,324,461$0$0$11,281,904
96$16,758,419$0$0$12,339,621
97$18,334,573$0$0$13,502,295
98$20,067,299$0$0$14,780,537
99$21,972,435$0$0$16,186,043
100$24,067,430$0$0$17,731,694