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%15%
1 years$80,267$79,552$78,854$78,173$77,509$75,913
2 years$39,736$38,996$38,279$37,583$36,909$35,308
3 years$26,228$25,484$24,769$24,080$23,417$21,861
4 years$19,475$18,734$18,025$17,348$16,701$15,203
5 years$15,424$14,687$13,988$13,325$12,696$11,259
6 years$12,724$11,993$11,305$10,656$10,046$8,672
7 years$10,797$10,072$9,394$8,761$8,170$6,859
8 years$9,352$8,634$7,967$7,349$6,778$5,530
9 years$8,229$7,517$6,862$6,260$5,708$4,522
10 years$7,330$6,626$5,983$5,396$4,863$3,739
11 years$6,596$5,899$5,267$4,696$4,183$3,118
12 years$5,985$5,294$4,674$4,119$3,625$2,618
13 years$5,468$4,785$4,176$3,637$3,161$2,210
14 years$5,025$4,349$3,752$3,228$2,771$1,874
15 years$4,641$3,973$3,388$2,879$2,439$1,595
16 years$4,306$3,645$3,072$2,578$2,156$1,362
17 years$4,011$3,357$2,795$2,316$1,912$1,167
18 years$3,749$3,102$2,551$2,087$1,700$1,001
19 years$3,514$2,875$2,336$1,886$1,515$861
20 years$3,304$2,671$2,144$1,708$1,353$741
21 years$3,113$2,488$1,972$1,550$1,211$639
22 years$2,940$2,323$1,817$1,410$1,086$552
23 years$2,783$2,172$1,678$1,284$974$477
24 years$2,638$2,035$1,552$1,171$876$412
25 years$2,506$1,910$1,437$1,069$788$357
26 years$2,384$1,795$1,333$978$710$309
27 years$2,271$1,690$1,238$895$640$268
28 years$2,166$1,592$1,151$820$578$232
29 years$2,069$1,502$1,071$752$521$201
30 years$1,979$1,418$997$690$471$175
31 years$1,894$1,341$930$634$426$152
32 years$1,815$1,269$868$582$385$132
33 years$1,741$1,202$810$536$349$114
34 years$1,671$1,139$757$493$316$99
35 years$1,606$1,080$708$454$286$86
36 years$1,544$1,025$662$418$259$75
37 years$1,485$974$620$385$235$65
38 years$1,430$925$580$355$213$56
39 years$1,378$880$544$327$193$49
40 years$1,329$837$510$302$175$43
41 years$1,282$797$478$278$159$37
42 years$1,237$759$448$257$144$32
43 years$1,195$723$421$237$131$28
44 years$1,155$689$395$219$119$24
45 years$1,116$657$371$202$108$21
46 years$1,080$627$348$187$98$18
47 years$1,045$598$327$173$89$16
48 years$1,012$571$307$159$81$14
49 years$980$545$289$147$73$12
50 years$949$521$272$136$67$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $972,000, adding $3,443 every year, while hoping to spend $34,241 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: 49/28/23 Blend
59$972,000$972,000$972,000$972,000
60$1,074,695$1,023,179$1,008,113$1,120,222
61$1,147,882$1,036,883$1,005,453$1,165,989
62$1,227,386$1,050,111$1,001,556$1,211,961
63$1,313,816$1,062,802$996,345$1,261,205
64$1,407,841$1,074,895$989,738$1,314,045
65$1,510,197$1,086,321$981,650$1,370,838
66$1,621,693$1,097,007$971,992$1,431,980
67$1,743,223$1,106,877$960,670$1,497,907
68$1,875,766$1,115,849$947,587$1,569,101
69$2,020,402$1,123,834$932,639$1,646,096
70$2,178,321$1,130,739$915,720$1,729,481
71$2,350,830$1,136,466$896,717$1,819,906
72$2,539,370$1,140,908$875,513$1,918,090
73$2,745,528$1,143,954$851,984$2,024,827
74$2,971,048$1,145,484$826,002$2,140,996
75$3,217,854$1,145,372$797,432$2,267,565
76$3,488,062$1,143,482$766,133$2,405,603
77$3,784,004$1,139,673$731,958$2,556,294
78$4,108,247$1,133,792$694,754$2,720,943
79$4,463,619$1,125,678$654,359$2,900,990
80$4,853,233$1,115,161$610,605$3,098,027
81$5,280,519$1,102,060$563,316$3,313,812
82$5,749,254$1,086,183$512,309$3,550,284
83$6,263,600$1,067,328$457,393$3,809,585
84$6,828,137$1,045,277$398,366$4,094,079
85$7,447,916$1,019,804$335,020$4,406,375
86$8,128,496$990,668$267,136$4,749,353
87$8,876,004$957,611$194,486$5,126,191
88$9,697,187$920,365$116,832$5,540,398
89$10,599,479$878,642$33,925$5,995,845
90$11,591,070$832,140$0$6,496,804
91$12,680,983$780,538$0$7,061,375
92$13,879,157$723,498$0$7,691,127
93$15,196,543$660,662$0$8,383,534
94$16,645,206$591,650$0$9,144,998
95$18,238,440$516,063$0$9,982,580
96$19,990,889$433,479$0$10,904,062
97$21,918,690$343,449$0$11,918,028
98$24,039,621$245,504$0$13,033,937
99$26,373,272$139,143$0$14,262,220
100$28,941,227$23,842$0$15,614,378