Can I retire at age 60 with 975,000?

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 $975,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$80,515$79,797$79,098$78,415$77,748$76,904
2 years$39,859$39,116$38,397$37,699$37,023$36,173
3 years$26,309$25,563$24,845$24,154$23,489$22,660
4 years$19,535$18,791$18,081$17,402$16,752$15,950
5 years$15,472$14,733$14,032$13,366$12,735$11,962
6 years$12,764$12,030$11,340$10,689$10,077$9,334
7 years$10,830$10,103$9,423$8,788$8,195$7,483
8 years$9,381$8,660$7,992$7,372$6,799$6,117
9 years$8,254$7,540$6,883$6,279$5,725$5,074
10 years$7,353$6,646$6,001$5,413$4,878$4,257
11 years$6,617$5,917$5,283$4,711$4,196$3,603
12 years$6,003$5,311$4,689$4,132$3,636$3,072
13 years$5,485$4,799$4,189$3,648$3,170$2,635
14 years$5,040$4,362$3,764$3,238$2,779$2,271
15 years$4,656$3,985$3,398$2,888$2,447$1,965
16 years$4,320$3,656$3,081$2,586$2,163$1,707
17 years$4,023$3,367$2,804$2,323$1,918$1,486
18 years$3,760$3,112$2,559$2,094$1,705$1,298
19 years$3,525$2,884$2,343$1,892$1,520$1,136
20 years$3,314$2,680$2,150$1,714$1,357$995
21 years$3,123$2,496$1,978$1,555$1,215$874
22 years$2,949$2,330$1,823$1,414$1,089$768
23 years$2,791$2,179$1,683$1,288$977$676
24 years$2,647$2,042$1,557$1,174$879$596
25 years$2,514$1,916$1,442$1,073$791$526
26 years$2,391$1,801$1,337$981$712$464
27 years$2,278$1,695$1,242$898$642$410
28 years$2,173$1,597$1,154$822$579$362
29 years$2,076$1,507$1,074$754$523$321
30 years$1,985$1,423$1,000$692$473$284
31 years$1,900$1,345$933$636$427$251
32 years$1,820$1,273$870$584$387$222
33 years$1,746$1,205$813$537$350$197
34 years$1,676$1,142$759$494$317$174
35 years$1,610$1,083$710$455$287$155
36 years$1,549$1,028$664$419$260$137
37 years$1,490$977$622$386$236$122
38 years$1,435$928$582$356$214$108
39 years$1,383$883$545$328$194$96
40 years$1,333$840$511$303$176$85
41 years$1,286$799$479$279$159$75
42 years$1,241$761$450$258$145$67
43 years$1,199$725$422$238$131$59
44 years$1,158$691$396$220$119$53
45 years$1,120$659$372$203$108$47
46 years$1,083$629$349$187$98$41
47 years$1,048$600$328$173$89$37
48 years$1,015$573$308$160$81$33
49 years$983$547$290$148$74$29
50 years$952$523$272$137$67$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $975,000, adding $3,345 every year, while hoping to spend $41,550 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: 64/18/18 Blend
59$975,000$975,000$975,000$975,000
60$1,077,900$1,026,225$1,011,113$1,141,814
61$1,143,637$1,032,302$1,000,776$1,191,221
62$1,214,687$1,037,283$988,701$1,240,136
63$1,291,547$1,041,072$974,784$1,292,586
64$1,374,765$1,043,565$958,920$1,348,916
65$1,464,943$1,044,651$940,996$1,409,510
66$1,562,743$1,044,215$920,895$1,474,791
67$1,668,892$1,042,131$898,494$1,545,225
68$1,784,191$1,038,267$873,666$1,621,329
69$1,909,520$1,032,484$846,275$1,703,673
70$2,045,848$1,024,633$816,182$1,792,885
71$2,194,241$1,014,556$783,241$1,889,660
72$2,355,871$1,002,086$747,296$1,994,765
73$2,532,028$987,047$708,189$2,109,047
74$2,724,133$969,250$665,751$2,233,441
75$2,933,748$948,497$619,808$2,368,980
76$3,162,594$924,577$570,175$2,516,804
77$3,412,565$897,268$516,662$2,678,169
78$3,685,746$866,333$459,070$2,854,467
79$3,984,432$831,523$397,189$3,047,228
80$4,311,150$792,574$330,801$3,258,147
81$4,668,683$749,206$259,678$3,489,089
82$5,060,095$701,123$183,584$3,742,117
83$5,488,760$648,014$102,269$4,019,505
84$5,958,394$589,547$15,475$4,323,763
85$6,473,089$525,373$0$4,657,661
86$7,037,351$455,123$0$5,039,073
87$7,656,143$378,407$0$5,460,690
88$8,334,934$294,813$0$5,923,313
89$9,079,744$203,905$0$6,431,106
90$9,897,206$105,225$0$6,988,662
91$10,794,626$0$0$7,601,039
92$11,780,052$0$0$8,274,158
93$12,862,349$0$0$9,036,407
94$14,051,283$0$0$9,873,831
95$15,357,614$0$0$10,794,018
96$16,793,192$0$0$11,805,324
97$18,371,077$0$0$12,916,960
98$20,105,652$0$0$14,139,068
99$22,012,767$0$0$15,482,825
100$24,109,883$0$0$16,960,545