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%13.9%
1 years$80,432$79,716$79,017$78,334$77,668$76,413
2 years$39,818$39,076$38,358$37,661$36,985$35,724
3 years$26,282$25,537$24,820$24,130$23,465$22,237
4 years$19,515$18,772$18,063$17,384$16,735$15,550
5 years$15,456$14,718$14,017$13,353$12,722$11,583
6 years$12,751$12,018$11,328$10,678$10,066$8,975
7 years$10,819$10,093$9,414$8,779$8,187$7,143
8 years$9,371$8,651$7,984$7,365$6,792$5,796
9 years$8,246$7,533$6,876$6,273$5,720$4,771
10 years$7,346$6,640$5,995$5,407$4,873$3,971
11 years$6,610$5,911$5,278$4,706$4,191$3,334
12 years$5,997$5,305$4,684$4,128$3,632$2,819
13 years$5,479$4,794$4,185$3,644$3,167$2,398
14 years$5,035$4,358$3,760$3,235$2,776$2,049
15 years$4,651$3,981$3,395$2,885$2,445$1,757
16 years$4,315$3,653$3,078$2,583$2,160$1,512
17 years$4,019$3,364$2,801$2,321$1,916$1,305
18 years$3,756$3,108$2,557$2,092$1,703$1,129
19 years$3,521$2,881$2,341$1,890$1,518$978
20 years$3,310$2,677$2,148$1,712$1,356$849
21 years$3,120$2,494$1,976$1,554$1,214$739
22 years$2,946$2,328$1,821$1,413$1,088$643
23 years$2,788$2,177$1,681$1,286$976$560
24 years$2,644$2,040$1,555$1,173$878$489
25 years$2,511$1,914$1,440$1,072$790$427
26 years$2,389$1,799$1,336$980$711$373
27 years$2,276$1,693$1,240$897$641$326
28 years$2,171$1,595$1,153$822$579$285
29 years$2,073$1,505$1,073$753$523$250
30 years$1,983$1,421$999$691$472$218
31 years$1,898$1,344$932$635$427$191
32 years$1,819$1,271$869$584$386$168
33 years$1,744$1,204$812$537$349$147
34 years$1,674$1,141$758$494$316$129
35 years$1,609$1,082$709$455$287$113
36 years$1,547$1,027$663$419$260$99
37 years$1,489$976$621$386$235$87
38 years$1,433$927$581$356$213$76
39 years$1,381$882$545$328$193$67
40 years$1,332$839$511$302$175$59
41 years$1,285$799$479$279$159$51
42 years$1,240$761$449$257$144$45
43 years$1,198$725$421$238$131$40
44 years$1,157$691$396$219$119$35
45 years$1,119$659$371$203$108$30
46 years$1,082$628$349$187$98$27
47 years$1,047$600$328$173$89$23
48 years$1,014$572$308$160$81$21
49 years$982$547$289$148$73$18
50 years$951$522$272$137$67$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $974,000, adding $2,621 every year, while hoping to spend $44,239 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: 56/14/30 Blend
59$974,000$974,000$974,000$974,000
60$1,076,052$1,024,430$1,009,333$1,127,244
61$1,138,739$1,027,557$996,075$1,165,963
62$1,206,338$1,029,354$980,891$1,203,346
63$1,279,302$1,029,711$963,669$1,243,199
64$1,358,131$1,028,507$944,292$1,285,779
65$1,443,374$1,025,617$922,639$1,331,366
66$1,535,632$1,020,906$898,582$1,380,274
67$1,635,570$1,014,234$871,988$1,432,850
68$1,743,915$1,005,449$842,716$1,489,479
69$1,861,469$994,390$810,622$1,550,585
70$1,989,114$980,890$775,553$1,616,642
71$2,127,818$964,769$737,348$1,688,172
72$2,278,648$945,835$695,842$1,765,752
73$2,442,778$923,888$650,860$1,850,024
74$2,621,497$898,715$602,220$1,941,697
75$2,816,227$870,089$549,732$2,041,555
76$3,028,530$837,771$493,196$2,150,466
77$3,260,128$801,509$432,405$2,269,390
78$3,512,912$761,035$367,143$2,399,390
79$3,788,969$716,066$297,182$2,541,641
80$4,090,593$666,301$222,286$2,697,441
81$4,420,309$611,426$142,208$2,868,226
82$4,780,899$551,105$56,691$3,055,584
83$5,175,426$484,984$0$3,261,270
84$5,607,261$412,689$0$3,498,288
85$6,080,117$333,827$0$3,777,801
86$6,598,083$247,978$0$4,084,105
87$7,165,662$154,704$0$4,419,911
88$7,787,814$53,539$0$4,788,212
89$8,470,000$0$0$5,192,306
90$9,218,235$0$0$5,644,456
91$10,039,145$0$0$6,149,661
92$10,940,029$0$0$6,704,175
93$11,928,925$0$0$7,312,957
94$13,014,688$0$0$7,981,472
95$14,207,073$0$0$8,715,737
96$15,516,825$0$0$9,522,382
97$16,955,782$0$0$10,408,710
98$18,536,984$0$0$11,382,767
99$20,274,798$0$0$12,453,418
100$22,185,050$0$0$13,630,429