Can I retire at age 60 with 969,000?

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 $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%13%
1 years$80,019$79,306$78,611$77,932$77,269$76,304
2 years$39,613$38,876$38,161$37,467$36,795$35,823
3 years$26,147$25,406$24,692$24,006$23,344$22,397
4 years$19,415$18,676$17,970$17,295$16,649$15,733
5 years$15,376$14,642$13,945$13,284$12,657$11,775
6 years$12,685$11,956$11,270$10,623$10,015$9,168
7 years$10,764$10,041$9,365$8,734$8,145$7,334
8 years$9,323$8,607$7,943$7,327$6,757$5,981
9 years$8,203$7,494$6,841$6,241$5,690$4,950
10 years$7,308$6,606$5,964$5,380$4,848$4,143
11 years$6,576$5,880$5,251$4,682$4,170$3,498
12 years$5,966$5,278$4,660$4,107$3,613$2,975
13 years$5,451$4,770$4,163$3,626$3,151$2,545
14 years$5,009$4,336$3,741$3,218$2,762$2,187
15 years$4,627$3,961$3,377$2,870$2,432$1,888
16 years$4,293$3,634$3,062$2,570$2,149$1,635
17 years$3,999$3,347$2,786$2,309$1,906$1,420
18 years$3,737$3,092$2,544$2,081$1,695$1,236
19 years$3,503$2,866$2,329$1,880$1,510$1,079
20 years$3,293$2,663$2,137$1,703$1,349$943
21 years$3,104$2,481$1,966$1,546$1,207$825
22 years$2,931$2,316$1,812$1,405$1,082$723
23 years$2,774$2,166$1,673$1,280$971$635
24 years$2,630$2,029$1,547$1,167$873$558
25 years$2,498$1,904$1,433$1,066$786$490
26 years$2,377$1,790$1,329$975$708$431
27 years$2,264$1,684$1,234$892$638$380
28 years$2,160$1,587$1,147$817$576$335
29 years$2,063$1,497$1,068$750$520$295
30 years$1,972$1,414$994$688$470$260
31 years$1,888$1,337$927$632$425$230
32 years$1,809$1,265$865$581$384$203
33 years$1,735$1,198$808$534$348$179
34 years$1,666$1,135$755$491$315$158
35 years$1,601$1,077$705$452$285$140
36 years$1,539$1,022$660$417$258$123
37 years$1,481$971$618$384$234$109
38 years$1,426$922$578$354$212$96
39 years$1,374$877$542$326$192$85
40 years$1,325$835$508$301$175$75
41 years$1,278$794$476$278$158$67
42 years$1,234$757$447$256$144$59
43 years$1,191$721$419$236$130$52
44 years$1,151$687$394$218$118$46
45 years$1,113$655$370$202$107$41
46 years$1,077$625$347$186$98$36
47 years$1,042$597$326$172$89$32
48 years$1,008$569$306$159$80$28
49 years$977$544$288$147$73$25
50 years$946$519$271$136$66$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $969,000, adding $2,805 every year, while hoping to spend $47,442 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: 30/45/25 Blend
59$969,000$969,000$969,000$969,000
60$1,070,731$1,019,374$1,004,355$1,094,503
61$1,129,468$1,018,846$987,523$1,112,580
62$1,192,606$1,016,701$968,537$1,127,632
63$1,260,543$1,012,811$947,275$1,142,863
64$1,333,719$1,007,039$923,609$1,158,319
65$1,412,613$999,239$897,404$1,174,055
66$1,497,755$989,257$868,522$1,190,138
67$1,589,724$976,929$836,816$1,206,645
68$1,689,159$962,081$802,132$1,223,664
69$1,796,760$944,530$764,311$1,241,301
70$1,913,299$924,082$723,185$1,259,675
71$2,039,623$900,529$678,579$1,278,923
72$2,176,664$873,654$630,311$1,299,203
73$2,325,446$843,226$578,189$1,320,696
74$2,487,098$809,000$522,014$1,343,608
75$2,662,858$770,717$461,577$1,368,173
76$2,854,091$728,104$396,662$1,394,656
77$3,062,297$680,870$327,039$1,423,359
78$3,289,130$628,711$252,473$1,454,621
79$3,536,405$571,302$172,715$1,488,827
80$3,806,123$508,301$87,506$1,526,410
81$4,100,487$439,346$0$1,567,857
82$4,421,918$364,056$0$1,614,632
83$4,773,086$282,027$0$1,691,405
84$5,156,928$192,833$0$1,775,578
85$5,576,676$96,024$0$1,868,007
86$6,035,892$0$0$1,969,645
87$6,538,495$0$0$2,085,945
88$7,088,802$0$0$2,265,493
89$7,691,566$0$0$2,462,308
90$8,352,024$0$0$2,678,119
91$9,075,940$0$0$2,914,829
92$9,869,663$0$0$3,174,535
93$10,740,188$0$0$3,459,546
94$11,695,216$0$0$3,772,407
95$12,743,233$0$0$4,115,920
96$13,893,583$0$0$4,493,170
97$15,156,560$0$0$4,907,559
98$16,543,505$0$0$5,362,832
99$18,066,909$0$0$5,863,116
100$19,740,534$0$0$6,412,958