Can I retire at age 60 with 931,000?

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 $931,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$76,881$76,196$75,528$74,876$74,239$73,710
2 years$38,060$37,351$36,664$35,998$35,352$34,818
3 years$25,121$24,409$23,724$23,064$22,429$21,907
4 years$18,653$17,943$17,265$16,617$15,996$15,491
5 years$14,773$14,068$13,398$12,763$12,160$11,672
6 years$12,188$11,487$10,828$10,207$9,622$9,152
7 years$10,341$9,647$8,998$8,392$7,825$7,374
8 years$8,957$8,269$7,631$7,039$6,492$6,059
9 years$7,882$7,200$6,573$5,996$5,467$5,052
10 years$7,021$6,346$5,730$5,169$4,658$4,262
11 years$6,318$5,650$5,045$4,498$4,006$3,627
12 years$5,732$5,071$4,477$3,946$3,472$3,110
13 years$5,237$4,583$4,000$3,483$3,027$2,683
14 years$4,813$4,166$3,594$3,092$2,654$2,326
15 years$4,446$3,805$3,245$2,758$2,337$2,026
16 years$4,125$3,491$2,942$2,469$2,065$1,770
17 years$3,842$3,215$2,677$2,219$1,831$1,551
18 years$3,591$2,971$2,444$1,999$1,628$1,363
19 years$3,366$2,754$2,237$1,807$1,451$1,200
20 years$3,164$2,559$2,053$1,636$1,296$1,059
21 years$2,982$2,383$1,889$1,485$1,160$936
22 years$2,816$2,225$1,741$1,350$1,040$829
23 years$2,665$2,081$1,607$1,230$933$734
24 years$2,527$1,950$1,486$1,121$839$652
25 years$2,400$1,830$1,377$1,024$755$579
26 years$2,283$1,720$1,277$936$680$515
27 years$2,175$1,618$1,186$857$613$458
28 years$2,075$1,525$1,102$785$553$408
29 years$1,982$1,439$1,026$720$499$363
30 years$1,895$1,359$955$661$451$324
31 years$1,814$1,284$891$607$408$289
32 years$1,738$1,215$831$558$369$258
33 years$1,667$1,151$776$513$334$230
34 years$1,601$1,091$725$472$302$205
35 years$1,538$1,035$678$435$274$183
36 years$1,479$982$634$400$248$164
37 years$1,423$933$593$369$225$146
38 years$1,370$886$556$340$204$131
39 years$1,320$843$521$313$185$117
40 years$1,273$802$488$289$168$104
41 years$1,228$763$458$267$152$93
42 years$1,185$727$429$246$138$83
43 years$1,145$693$403$227$125$75
44 years$1,106$660$378$210$114$67
45 years$1,069$630$355$194$103$60
46 years$1,034$601$333$179$94$53
47 years$1,001$573$313$165$85$48
48 years$969$547$294$153$77$43
49 years$938$522$277$141$70$38
50 years$909$499$260$130$64$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $931,000, adding $4,381 every year, while hoping to spend $56,319 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: 85/7/8 Blend
59$931,000$931,000$931,000$931,000
60$1,030,481$981,138$966,708$1,116,804
61$1,075,667$969,291$939,169$1,161,964
62$1,123,575$954,975$908,821$1,203,454
63$1,174,422$938,012$875,509$1,247,263
64$1,228,447$918,208$839,072$1,293,588
65$1,285,911$895,363$799,344$1,342,645
66$1,347,099$869,261$756,147$1,394,670
67$1,412,324$839,676$709,300$1,449,926
68$1,481,929$806,368$658,609$1,508,698
69$1,556,289$769,083$603,875$1,571,305
70$1,635,813$727,551$544,888$1,638,094
71$1,720,954$681,489$481,430$1,709,448
72$1,812,206$630,596$413,272$1,785,790
73$1,910,110$574,555$340,175$1,867,584
74$2,015,262$513,028$261,892$1,955,343
75$2,128,314$445,662$178,160$2,049,632
76$2,249,983$372,081$88,710$2,151,072
77$2,381,058$291,889$0$2,260,347
78$2,522,401$204,667$0$2,378,790
79$2,674,964$109,974$0$2,514,775
80$2,839,789$7,341$0$2,661,664
81$3,018,023$0$0$2,820,495
82$3,210,928$0$0$3,000,401
83$3,419,889$0$0$3,195,905
84$3,646,429$0$0$3,407,869
85$3,892,224$0$0$3,637,862
86$4,159,117$0$0$3,887,608
87$4,449,134$0$0$4,159,008
88$4,764,505$0$0$4,454,149
89$5,107,684$0$0$4,775,328
90$5,481,368$0$0$5,125,073
91$5,888,528$0$0$5,506,167
92$6,332,433$0$0$5,921,669
93$6,816,678$0$0$6,374,949
94$7,345,225$0$0$6,869,717
95$7,922,430$0$0$7,410,052
96$8,553,093$0$0$8,000,451
97$9,242,493$0$0$8,645,859
98$9,996,448$0$0$9,351,723
99$10,821,360$0$0$10,124,041
100$11,724,278$0$0$10,969,417