Can I retire at age 60 with 969,000?

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 $969,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$80,019$79,306$78,611$77,932$77,269$74,410
2 years$39,613$38,876$38,161$37,467$36,795$33,946
3 years$26,147$25,406$24,692$24,006$23,344$20,596
4 years$19,415$18,676$17,970$17,295$16,649$14,022
5 years$15,376$14,642$13,945$13,284$12,657$10,158
6 years$12,685$11,956$11,270$10,623$10,015$7,646
7 years$10,764$10,041$9,365$8,734$8,145$5,905
8 years$9,323$8,607$7,943$7,327$6,757$4,645
9 years$8,203$7,494$6,841$6,241$5,690$3,703
10 years$7,308$6,606$5,964$5,380$4,848$2,982
11 years$6,576$5,880$5,251$4,682$4,170$2,420
12 years$5,966$5,278$4,660$4,107$3,613$1,976
13 years$5,451$4,770$4,163$3,626$3,151$1,622
14 years$5,009$4,336$3,741$3,218$2,762$1,336
15 years$4,627$3,961$3,377$2,870$2,432$1,104
16 years$4,293$3,634$3,062$2,570$2,149$915
17 years$3,999$3,347$2,786$2,309$1,906$760
18 years$3,737$3,092$2,544$2,081$1,695$632
19 years$3,503$2,866$2,329$1,880$1,510$526
20 years$3,293$2,663$2,137$1,703$1,349$439
21 years$3,104$2,481$1,966$1,546$1,207$367
22 years$2,931$2,316$1,812$1,405$1,082$306
23 years$2,774$2,166$1,673$1,280$971$256
24 years$2,630$2,029$1,547$1,167$873$214
25 years$2,498$1,904$1,433$1,066$786$179
26 years$2,377$1,790$1,329$975$708$150
27 years$2,264$1,684$1,234$892$638$126
28 years$2,160$1,587$1,147$817$576$105
29 years$2,063$1,497$1,068$750$520$88
30 years$1,972$1,414$994$688$470$74
31 years$1,888$1,337$927$632$425$62
32 years$1,809$1,265$865$581$384$52
33 years$1,735$1,198$808$534$348$44
34 years$1,666$1,135$755$491$315$37
35 years$1,601$1,077$705$452$285$31
36 years$1,539$1,022$660$417$258$26
37 years$1,481$971$618$384$234$22
38 years$1,426$922$578$354$212$18
39 years$1,374$877$542$326$192$15
40 years$1,325$835$508$301$175$13
41 years$1,278$794$476$278$158$11
42 years$1,234$757$447$256$144$9
43 years$1,191$721$419$236$130$8
44 years$1,151$687$394$218$118$6
45 years$1,113$655$370$202$107$5
46 years$1,077$625$347$186$98$4
47 years$1,042$597$326$172$89$4
48 years$1,008$569$306$159$80$3
49 years$977$544$288$147$73$3
50 years$946$519$271$136$66$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $969,000, adding $4,504 every year, while hoping to spend $52,558 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: 39/42/19 Blend
59$969,000$969,000$969,000$969,000
60$1,072,484$1,021,127$1,006,107$1,108,074
61$1,125,956$1,015,241$983,891$1,128,141
62$1,183,121$1,007,305$959,168$1,144,476
63$1,244,299$997,163$931,800$1,161,048
64$1,309,843$984,650$901,642$1,177,908
65$1,380,140$969,590$868,539$1,195,114
66$1,455,613$951,799$832,334$1,212,735
67$1,536,727$931,078$792,859$1,230,853
68$1,623,993$907,221$749,939$1,249,561
69$1,717,971$880,006$703,393$1,268,966
70$1,819,277$849,199$653,030$1,289,194
71$1,928,589$814,555$598,651$1,310,388
72$2,046,647$775,811$540,049$1,332,710
73$2,174,270$732,690$477,006$1,356,348
74$2,312,355$684,902$409,295$1,381,513
75$2,461,889$632,135$336,679$1,408,449
76$2,623,955$574,063$258,911$1,437,427
77$2,799,747$510,341$175,734$1,468,758
78$2,990,577$440,603$86,876$1,502,792
79$3,197,886$364,464$0$1,539,924
80$3,423,263$281,515$0$1,582,211
81$3,668,453$191,326$0$1,647,442
82$3,935,377$93,443$0$1,718,611
83$4,226,149$0$0$1,796,413
84$4,543,094$0$0$1,887,456
85$4,888,773$0$0$2,033,972
86$5,266,002$0$0$2,193,984
87$5,677,885$0$0$2,368,821
88$6,127,834$0$0$2,559,951
89$6,619,608$0$0$2,768,985
90$7,157,345$0$0$2,997,700
91$7,745,601$0$0$3,248,051
92$8,389,393$0$0$3,522,194
93$9,094,245$0$0$3,822,498
94$9,866,239$0$0$4,151,575
95$10,712,075$0$0$4,512,303
96$11,639,129$0$0$4,907,850
97$12,655,528$0$0$5,341,703
98$13,770,219$0$0$5,817,707
99$14,993,059$0$0$6,340,095
100$16,334,904$0$0$6,913,529