Can I retire at age 60 with 973,000?

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 $973,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$80,349$79,634$78,935$78,254$77,588$75,377
2 years$39,777$39,036$38,318$37,622$36,947$34,736
3 years$26,255$25,511$24,794$24,105$23,441$21,299
4 years$19,495$18,753$18,044$17,366$16,718$14,663
5 years$15,440$14,703$14,003$13,339$12,709$10,746
6 years$12,737$12,006$11,316$10,667$10,056$8,187
7 years$10,808$10,082$9,404$8,770$8,178$6,403
8 years$9,361$8,642$7,975$7,357$6,785$5,102
9 years$8,237$7,525$6,869$6,267$5,714$4,122
10 years$7,338$6,633$5,989$5,402$4,868$3,366
11 years$6,603$5,905$5,272$4,701$4,187$2,771
12 years$5,991$5,300$4,679$4,124$3,628$2,296
13 years$5,473$4,789$4,180$3,641$3,164$1,913
14 years$5,030$4,353$3,756$3,232$2,773$1,600
15 years$4,646$3,977$3,391$2,882$2,442$1,343
16 years$4,311$3,649$3,075$2,581$2,158$1,131
17 years$4,015$3,360$2,798$2,319$1,914$954
18 years$3,752$3,105$2,554$2,090$1,702$807
19 years$3,518$2,878$2,338$1,888$1,517$683
20 years$3,307$2,674$2,146$1,710$1,355$580
21 years$3,116$2,491$1,974$1,552$1,212$492
22 years$2,943$2,325$1,819$1,411$1,087$418
23 years$2,786$2,175$1,680$1,285$975$356
24 years$2,641$2,038$1,553$1,172$877$303
25 years$2,509$1,912$1,439$1,070$789$258
26 years$2,386$1,797$1,334$979$711$220
27 years$2,273$1,691$1,239$896$641$187
28 years$2,169$1,594$1,152$821$578$160
29 years$2,071$1,503$1,072$753$522$136
30 years$1,981$1,420$998$691$472$116
31 years$1,896$1,342$931$634$426$99
32 years$1,817$1,270$868$583$386$85
33 years$1,743$1,203$811$536$349$72
34 years$1,673$1,140$758$493$316$62
35 years$1,607$1,081$708$454$286$53
36 years$1,545$1,026$663$418$259$45
37 years$1,487$975$620$385$235$39
38 years$1,432$926$581$355$213$33
39 years$1,380$881$544$328$193$28
40 years$1,330$838$510$302$175$24
41 years$1,283$798$478$279$159$21
42 years$1,239$760$449$257$144$18
43 years$1,196$724$421$237$131$15
44 years$1,156$690$395$219$119$13
45 years$1,118$658$371$202$108$11
46 years$1,081$628$348$187$98$9
47 years$1,046$599$327$173$89$8
48 years$1,013$572$308$160$81$7
49 years$981$546$289$148$73$6
50 years$950$522$272$136$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $973,000, adding $2,992 every year, while hoping to spend $42,273 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: 48/25/27 Blend
59$973,000$973,000$973,000$973,000
60$1,075,332$1,023,763$1,008,682$1,118,540
61$1,140,038$1,028,950$997,494$1,154,382
62$1,209,927$1,032,973$984,516$1,188,884
63$1,285,483$1,035,732$969,640$1,225,525
64$1,367,238$1,037,119$952,760$1,264,530
65$1,455,778$1,037,019$933,758$1,306,144
66$1,551,745$1,035,311$912,516$1,350,644
67$1,655,845$1,031,864$888,908$1,398,334
68$1,768,858$1,026,541$862,803$1,449,552
69$1,891,637$1,019,197$834,063$1,504,676
70$2,025,124$1,009,678$802,544$1,564,121
71$2,170,354$997,819$768,096$1,628,351
72$2,328,465$983,448$730,562$1,697,878
73$2,500,710$966,379$689,778$1,773,272
74$2,688,469$946,418$645,573$1,855,164
75$2,893,259$923,359$597,765$1,944,251
76$3,116,751$896,982$546,170$2,041,308
77$3,360,783$867,057$490,589$2,147,192
78$3,627,378$833,339$430,820$2,262,853
79$3,918,766$795,568$366,648$2,389,342
80$4,237,400$753,470$297,850$2,527,822
81$4,585,980$706,756$224,193$2,679,582
82$4,967,481$655,118$145,435$2,846,047
83$5,385,177$598,232$61,320$3,028,792
84$5,842,676$535,755$0$3,229,563
85$6,343,948$467,326$0$3,458,482
86$6,893,367$392,562$0$3,728,873
87$7,495,750$311,057$0$4,025,493
88$8,156,404$222,386$0$4,351,036
89$8,881,170$126,096$0$4,708,473
90$9,676,487$21,712$0$5,101,084
91$10,549,443$0$0$5,532,486
92$11,507,848$0$0$6,031,779
93$12,560,305$0$0$6,586,741
94$13,716,290$0$0$7,196,411
95$14,986,243$0$0$7,866,308
96$16,381,664$0$0$8,602,514
97$17,915,223$0$0$9,411,729
98$19,600,878$0$0$10,301,335
99$21,454,006$0$0$11,279,463
100$23,491,550$0$0$12,355,074