Can I retire at age 60 with 974,000?

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 $974,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$80,432$79,716$79,017$78,334$77,668$76,889
2 years$39,818$39,076$38,358$37,661$36,985$36,200
3 years$26,282$25,537$24,820$24,130$23,465$22,699
4 years$19,515$18,772$18,063$17,384$16,735$15,994
5 years$15,456$14,718$14,017$13,353$12,722$12,007
6 years$12,751$12,018$11,328$10,678$10,066$9,379
7 years$10,819$10,093$9,414$8,779$8,187$7,528
8 years$9,371$8,651$7,984$7,365$6,792$6,161
9 years$8,246$7,533$6,876$6,273$5,720$5,116
10 years$7,346$6,640$5,995$5,407$4,873$4,297
11 years$6,610$5,911$5,278$4,706$4,191$3,642
12 years$5,997$5,305$4,684$4,128$3,632$3,109
13 years$5,479$4,794$4,185$3,644$3,167$2,670
14 years$5,035$4,358$3,760$3,235$2,776$2,305
15 years$4,651$3,981$3,395$2,885$2,445$1,997
16 years$4,315$3,653$3,078$2,583$2,160$1,737
17 years$4,019$3,364$2,801$2,321$1,916$1,515
18 years$3,756$3,108$2,557$2,092$1,703$1,324
19 years$3,521$2,881$2,341$1,890$1,518$1,160
20 years$3,310$2,677$2,148$1,712$1,356$1,019
21 years$3,120$2,494$1,976$1,554$1,214$896
22 years$2,946$2,328$1,821$1,413$1,088$789
23 years$2,788$2,177$1,681$1,286$976$695
24 years$2,644$2,040$1,555$1,173$878$614
25 years$2,511$1,914$1,440$1,072$790$542
26 years$2,389$1,799$1,336$980$711$479
27 years$2,276$1,693$1,240$897$641$424
28 years$2,171$1,595$1,153$822$579$375
29 years$2,073$1,505$1,073$753$523$333
30 years$1,983$1,421$999$691$472$295
31 years$1,898$1,344$932$635$427$261
32 years$1,819$1,271$869$584$386$232
33 years$1,744$1,204$812$537$349$206
34 years$1,674$1,141$758$494$316$183
35 years$1,609$1,082$709$455$287$162
36 years$1,547$1,027$663$419$260$144
37 years$1,489$976$621$386$235$128
38 years$1,433$927$581$356$213$114
39 years$1,381$882$545$328$193$101
40 years$1,332$839$511$302$175$90
41 years$1,285$799$479$279$159$80
42 years$1,240$761$449$257$144$71
43 years$1,198$725$421$238$131$63
44 years$1,157$691$396$219$119$56
45 years$1,119$659$371$203$108$50
46 years$1,082$628$349$187$98$44
47 years$1,047$600$328$173$89$39
48 years$1,014$572$308$160$81$35
49 years$982$547$289$148$73$31
50 years$951$522$272$137$67$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $974,000, adding $6,684 every year, while hoping to spend $49,905 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: 40/49/11 Blend
59$974,000$974,000$974,000$974,000
60$1,080,243$1,028,621$1,013,524$1,119,642
61$1,137,329$1,025,924$994,378$1,145,353
62$1,198,565$1,021,424$972,919$1,167,707
63$1,264,322$1,014,977$949,015$1,190,780
64$1,335,007$1,006,435$922,531$1,214,658
65$1,411,066$995,638$893,324$1,239,441
66$1,492,990$982,419$861,245$1,265,241
67$1,581,316$966,599$826,138$1,292,186
68$1,676,637$947,990$787,841$1,320,422
69$1,779,603$926,390$746,182$1,350,113
70$1,890,928$901,588$700,984$1,381,445
71$2,011,396$873,360$652,061$1,414,628
72$2,141,872$841,467$599,218$1,449,898
73$2,283,303$805,660$542,253$1,487,520
74$2,436,734$765,671$480,952$1,527,795
75$2,603,311$721,220$415,094$1,571,058
76$2,784,297$672,008$344,449$1,617,687
77$2,981,081$617,721$268,773$1,668,105
78$3,195,189$558,028$187,815$1,722,785
79$3,428,303$492,575$101,311$1,782,258
80$3,682,271$420,992$8,986$1,847,117
81$3,959,128$342,887$0$1,918,025
82$4,261,115$257,844$0$2,006,232
83$4,590,696$165,426$0$2,103,862
84$4,950,586$65,171$0$2,210,820
85$5,343,771$0$0$2,328,169
86$5,773,540$0$0$2,480,503
87$6,243,513$0$0$2,685,636
88$6,757,678$0$0$2,910,185
89$7,320,423$0$0$3,156,082
90$7,936,582$0$0$3,425,456
91$8,611,478$0$0$3,720,651
92$9,350,972$0$0$4,044,249
93$10,161,520$0$0$4,399,092
94$11,050,231$0$0$4,788,313
95$12,024,937$0$0$5,215,360
96$13,094,261$0$0$5,684,033
97$14,267,704$0$0$6,198,518
98$15,555,730$0$0$6,763,423
99$16,969,865$0$0$7,383,827
100$18,522,807$0$0$8,065,324