Can I retire at age 60 with 971,000?

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 $971,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$80,184$79,470$78,773$78,093$77,429$76,021
2 years$39,695$38,956$38,239$37,545$36,871$35,458
3 years$26,201$25,458$24,743$24,055$23,392$22,018
4 years$19,455$18,714$18,007$17,330$16,684$15,358
5 years$15,408$14,672$13,974$13,311$12,683$11,410
6 years$12,711$11,981$11,293$10,645$10,035$8,817
7 years$10,786$10,062$9,385$8,752$8,161$6,998
8 years$9,342$8,625$7,959$7,342$6,771$5,661
9 years$8,220$7,509$6,855$6,254$5,702$4,646
10 years$7,323$6,619$5,976$5,391$4,858$3,855
11 years$6,589$5,893$5,261$4,692$4,178$3,227
12 years$5,979$5,289$4,669$4,115$3,621$2,720
13 years$5,462$4,780$4,172$3,633$3,157$2,305
14 years$5,020$4,345$3,748$3,225$2,768$1,963
15 years$4,637$3,969$3,384$2,876$2,437$1,678
16 years$4,302$3,641$3,068$2,575$2,154$1,439
17 years$4,007$3,354$2,792$2,314$1,910$1,238
18 years$3,745$3,099$2,549$2,085$1,698$1,067
19 years$3,511$2,872$2,333$1,884$1,513$921
20 years$3,300$2,669$2,141$1,707$1,352$797
21 years$3,110$2,486$1,970$1,549$1,210$690
22 years$2,937$2,320$1,815$1,408$1,084$598
23 years$2,780$2,170$1,676$1,282$973$520
24 years$2,636$2,033$1,550$1,170$875$451
25 years$2,503$1,908$1,436$1,068$787$393
26 years$2,381$1,793$1,332$977$709$342
27 years$2,269$1,688$1,237$894$639$297
28 years$2,164$1,590$1,150$819$577$259
29 years$2,067$1,500$1,070$751$521$226
30 years$1,977$1,417$996$689$471$197
31 years$1,892$1,339$929$633$426$172
32 years$1,813$1,267$867$582$385$150
33 years$1,739$1,200$809$535$348$131
34 years$1,669$1,138$756$492$315$114
35 years$1,604$1,079$707$453$286$100
36 years$1,542$1,024$661$417$259$87
37 years$1,484$973$619$385$235$76
38 years$1,429$924$580$354$213$66
39 years$1,377$879$543$327$193$58
40 years$1,328$836$509$301$175$51
41 years$1,281$796$477$278$159$44
42 years$1,236$758$448$257$144$39
43 years$1,194$722$420$237$131$34
44 years$1,154$689$394$219$119$29
45 years$1,115$657$370$202$108$26
46 years$1,079$626$348$187$98$23
47 years$1,044$598$327$172$89$20
48 years$1,010$571$307$159$81$17
49 years$979$545$289$147$73$15
50 years$948$521$271$136$67$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $971,000, adding $3,871 every year, while hoping to spend $31,987 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: 76/5/19 Blend
59$971,000$971,000$971,000$971,000
60$1,074,035$1,022,572$1,007,521$1,150,657
61$1,149,553$1,038,644$1,007,239$1,217,975
62$1,231,701$1,054,432$1,005,876$1,287,429
63$1,321,123$1,069,887$1,003,361$1,362,734
64$1,418,525$1,084,959$999,621$1,444,464
65$1,524,685$1,099,593$994,579$1,533,255
66$1,640,460$1,113,730$988,155$1,629,804
67$1,766,792$1,127,308$980,263$1,734,880
68$1,904,719$1,140,260$970,816$1,849,332
69$2,055,383$1,152,515$959,721$1,974,095
70$2,220,040$1,163,996$946,879$2,110,198
71$2,400,074$1,174,623$932,191$2,258,776
72$2,597,011$1,184,308$915,548$2,421,080
73$2,812,527$1,192,960$896,840$2,598,489
74$3,048,470$1,200,481$875,949$2,792,523
75$3,306,875$1,206,766$852,755$3,004,856
76$3,589,983$1,211,703$827,128$3,237,334
77$3,900,260$1,215,176$798,936$3,491,991
78$4,240,425$1,217,057$768,038$3,771,069
79$4,613,470$1,217,215$734,289$4,077,040
80$5,022,692$1,215,507$697,536$4,412,627
81$5,471,722$1,211,782$657,619$4,780,831
82$5,964,560$1,205,881$614,372$5,184,963
83$6,505,611$1,197,635$567,619$5,628,669
84$7,099,728$1,186,865$517,179$6,115,967
85$7,752,257$1,173,378$462,862$6,651,289
86$8,469,087$1,156,974$404,468$7,239,517
87$9,256,707$1,137,438$341,790$7,886,032
88$10,122,262$1,114,544$274,611$8,596,767
89$11,073,627$1,088,051$202,705$9,378,259
90$12,119,477$1,057,705$125,835$10,237,713
91$13,269,368$1,023,237$43,755$11,183,072
92$14,533,830$984,361$0$12,223,088
93$15,924,462$940,777$0$13,376,297
94$17,454,047$892,165$0$14,654,487
95$19,136,667$838,188$0$16,060,555
96$20,987,836$778,488$0$17,607,476
97$23,024,650$712,689$0$19,309,548
98$25,265,945$640,391$0$21,182,525
99$27,732,474$561,173$0$23,243,766
100$30,447,106$474,590$0$25,512,400