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%17.2%
1 years$80,349$79,634$78,935$78,254$77,588$75,316
2 years$39,777$39,036$38,318$37,622$36,947$34,676
3 years$26,255$25,511$24,794$24,105$23,441$21,242
4 years$19,495$18,753$18,044$17,366$16,718$14,609
5 years$15,440$14,703$14,003$13,339$12,709$10,695
6 years$12,737$12,006$11,316$10,667$10,056$8,139
7 years$10,808$10,082$9,404$8,770$8,178$6,358
8 years$9,361$8,642$7,975$7,357$6,785$5,061
9 years$8,237$7,525$6,869$6,267$5,714$4,084
10 years$7,338$6,633$5,989$5,402$4,868$3,330
11 years$6,603$5,905$5,272$4,701$4,187$2,738
12 years$5,991$5,300$4,679$4,124$3,628$2,266
13 years$5,473$4,789$4,180$3,641$3,164$1,885
14 years$5,030$4,353$3,756$3,232$2,773$1,575
15 years$4,646$3,977$3,391$2,882$2,442$1,320
16 years$4,311$3,649$3,075$2,581$2,158$1,110
17 years$4,015$3,360$2,798$2,319$1,914$935
18 years$3,752$3,105$2,554$2,090$1,702$790
19 years$3,518$2,878$2,338$1,888$1,517$668
20 years$3,307$2,674$2,146$1,710$1,355$565
21 years$3,116$2,491$1,974$1,552$1,212$479
22 years$2,943$2,325$1,819$1,411$1,087$407
23 years$2,786$2,175$1,680$1,285$975$346
24 years$2,641$2,038$1,553$1,172$877$294
25 years$2,509$1,912$1,439$1,070$789$250
26 years$2,386$1,797$1,334$979$711$213
27 years$2,273$1,691$1,239$896$641$181
28 years$2,169$1,594$1,152$821$578$154
29 years$2,071$1,503$1,072$753$522$131
30 years$1,981$1,420$998$691$472$112
31 years$1,896$1,342$931$634$426$95
32 years$1,817$1,270$868$583$386$81
33 years$1,743$1,203$811$536$349$69
34 years$1,673$1,140$758$493$316$59
35 years$1,607$1,081$708$454$286$50
36 years$1,545$1,026$663$418$259$43
37 years$1,487$975$620$385$235$37
38 years$1,432$926$581$355$213$31
39 years$1,380$881$544$328$193$27
40 years$1,330$838$510$302$175$23
41 years$1,283$798$478$279$159$19
42 years$1,239$760$449$257$144$17
43 years$1,196$724$421$237$131$14
44 years$1,156$690$395$219$119$12
45 years$1,118$658$371$202$108$10
46 years$1,081$628$348$187$98$9
47 years$1,046$599$327$173$89$7
48 years$1,013$572$308$160$81$6
49 years$981$546$289$148$73$5
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 $2,253 every year, while hoping to spend $25,434 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: 43/42/15 Blend
59$973,000$973,000$973,000$973,000
60$1,074,570$1,023,001$1,007,919$1,116,001
61$1,157,115$1,046,066$1,014,623$1,168,358
62$1,247,226$1,069,410$1,020,699$1,222,344
63$1,345,650$1,093,017$1,026,099$1,280,282
64$1,453,206$1,116,875$1,030,773$1,342,548
65$1,570,797$1,140,966$1,034,668$1,409,552
66$1,699,418$1,165,272$1,037,729$1,481,751
67$1,840,162$1,189,774$1,039,896$1,559,644
68$1,994,235$1,214,450$1,041,110$1,643,784
69$2,162,965$1,239,276$1,041,305$1,734,780
70$2,347,813$1,264,226$1,040,414$1,833,302
71$2,550,388$1,289,271$1,038,366$1,940,090
72$2,772,463$1,314,382$1,035,087$2,055,958
73$3,015,992$1,339,523$1,030,500$2,181,806
74$3,283,123$1,364,660$1,024,521$2,318,622
75$3,576,226$1,389,753$1,017,067$2,467,501
76$3,897,910$1,414,759$1,008,048$2,629,644
77$4,251,047$1,439,634$997,368$2,806,380
78$4,638,805$1,464,327$984,931$2,999,171
79$5,064,670$1,488,785$970,633$3,209,631
80$5,532,483$1,512,953$954,366$3,439,539
81$6,046,477$1,536,768$936,018$3,690,855
82$6,611,313$1,560,165$915,470$3,965,741
83$7,232,127$1,583,073$892,598$4,266,580
84$7,914,578$1,605,418$867,274$4,596,002
85$8,664,899$1,627,117$839,362$4,956,904
86$9,489,958$1,648,086$808,720$5,352,479
87$10,397,323$1,668,231$775,201$5,786,250
88$11,395,329$1,687,453$738,650$6,262,101
89$12,493,163$1,705,649$698,905$6,784,312
90$13,700,944$1,722,704$655,797$7,357,604
91$15,029,824$1,738,500$609,149$7,987,181
92$16,492,088$1,752,908$558,777$8,678,778
93$18,101,273$1,765,793$504,489$9,438,722
94$19,872,296$1,777,010$446,082$10,273,986
95$21,821,590$1,786,403$383,346$11,192,257
96$23,967,266$1,793,811$316,061$12,202,009
97$26,329,277$1,799,057$243,999$13,312,587
98$28,929,609$1,801,957$166,919$14,534,289
99$31,792,489$1,802,313$84,571$15,878,471
100$34,944,614$1,799,917$0$17,357,651