Can I retire at age 60 with 972,000?

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 $972,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$80,267$79,552$78,854$78,173$77,509$77,020
2 years$39,736$38,996$38,279$37,583$36,909$36,416
3 years$26,228$25,484$24,769$24,080$23,417$22,935
4 years$19,475$18,734$18,025$17,348$16,701$16,234
5 years$15,424$14,687$13,988$13,325$12,696$12,245
6 years$12,724$11,993$11,305$10,656$10,046$9,611
7 years$10,797$10,072$9,394$8,761$8,170$7,752
8 years$9,352$8,634$7,967$7,349$6,778$6,377
9 years$8,229$7,517$6,862$6,260$5,708$5,324
10 years$7,330$6,626$5,983$5,396$4,863$4,496
11 years$6,596$5,899$5,267$4,696$4,183$3,832
12 years$5,985$5,294$4,674$4,119$3,625$3,290
13 years$5,468$4,785$4,176$3,637$3,161$2,842
14 years$5,025$4,349$3,752$3,228$2,771$2,467
15 years$4,641$3,973$3,388$2,879$2,439$2,151
16 years$4,306$3,645$3,072$2,578$2,156$1,882
17 years$4,011$3,357$2,795$2,316$1,912$1,652
18 years$3,749$3,102$2,551$2,087$1,700$1,453
19 years$3,514$2,875$2,336$1,886$1,515$1,282
20 years$3,304$2,671$2,144$1,708$1,353$1,133
21 years$3,113$2,488$1,972$1,550$1,211$1,003
22 years$2,940$2,323$1,817$1,410$1,086$889
23 years$2,783$2,172$1,678$1,284$974$789
24 years$2,638$2,035$1,552$1,171$876$701
25 years$2,506$1,910$1,437$1,069$788$624
26 years$2,384$1,795$1,333$978$710$555
27 years$2,271$1,690$1,238$895$640$495
28 years$2,166$1,592$1,151$820$578$441
29 years$2,069$1,502$1,071$752$521$394
30 years$1,979$1,418$997$690$471$352
31 years$1,894$1,341$930$634$426$314
32 years$1,815$1,269$868$582$385$281
33 years$1,741$1,202$810$536$349$251
34 years$1,671$1,139$757$493$316$224
35 years$1,606$1,080$708$454$286$201
36 years$1,544$1,025$662$418$259$180
37 years$1,485$974$620$385$235$161
38 years$1,430$925$580$355$213$144
39 years$1,378$880$544$327$193$129
40 years$1,329$837$510$302$175$115
41 years$1,282$797$478$278$159$103
42 years$1,237$759$448$257$144$93
43 years$1,195$723$421$237$131$83
44 years$1,155$689$395$219$119$74
45 years$1,116$657$371$202$108$67
46 years$1,080$627$348$187$98$60
47 years$1,045$598$327$173$89$53
48 years$1,012$571$307$159$81$48
49 years$980$545$289$147$73$43
50 years$949$521$272$136$67$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $972,000, adding $3,990 every year, while hoping to spend $37,722 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: 46/38/16 Blend
59$972,000$972,000$972,000$972,000
60$1,075,260$1,023,744$1,008,678$1,119,658
61$1,144,800$1,033,771$1,002,332$1,160,995
62$1,220,170$1,043,026$994,510$1,201,687
63$1,301,923$1,051,430$985,122$1,245,019
64$1,390,669$1,058,900$974,074$1,291,253
65$1,487,081$1,065,349$961,269$1,340,677
66$1,591,894$1,070,683$946,603$1,393,612
67$1,705,923$1,074,802$929,969$1,450,411
68$1,830,060$1,077,600$911,256$1,511,468
69$1,965,287$1,078,964$890,345$1,577,214
70$2,112,688$1,078,774$867,113$1,648,132
71$2,273,452$1,076,904$841,431$1,724,753
72$2,448,890$1,073,219$813,165$1,807,665
73$2,640,445$1,067,574$782,173$1,897,520
74$2,849,704$1,059,819$748,310$1,995,036
75$3,078,415$1,049,791$711,419$2,101,011
76$3,328,502$1,037,320$671,341$2,216,325
77$3,602,086$1,022,225$627,908$2,341,954
78$3,901,499$1,004,314$580,942$2,478,973
79$4,229,309$983,383$530,262$2,628,575
80$4,588,347$959,218$475,674$2,792,076
81$4,981,728$931,588$416,978$2,970,930
82$5,412,883$900,255$353,965$3,166,748
83$5,885,590$864,961$286,417$3,381,306
84$6,404,012$825,436$214,104$3,616,569
85$6,972,734$781,394$136,788$3,874,707
86$7,596,803$732,533$54,221$4,158,119
87$8,281,783$678,533$0$4,469,453
88$9,033,798$619,055$0$4,817,422
89$9,859,599$553,741$0$5,209,725
90$10,766,618$482,215$0$5,640,715
91$11,763,045$404,076$0$6,114,382
92$12,857,902$318,902$0$6,635,133
93$14,061,128$226,248$0$7,207,826
94$15,383,672$125,643$0$7,837,825
95$16,837,598$16,591$0$8,531,046
96$18,436,194$0$0$9,294,016
97$20,194,105$0$0$10,176,353
98$22,127,460$0$0$11,154,506
99$24,254,035$0$0$12,230,545
100$26,593,412$0$0$13,414,396