Can I retire at age 60 with 934,000?

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 $934,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$77,129$76,442$75,772$75,117$74,478$73,609
2 years$38,183$37,471$36,782$36,114$35,466$34,591
3 years$25,202$24,488$23,801$23,139$22,501$21,647
4 years$18,713$18,001$17,321$16,670$16,048$15,222
5 years$14,821$14,113$13,442$12,804$12,199$11,404
6 years$12,227$11,525$10,863$10,240$9,653$8,889
7 years$10,375$9,678$9,027$8,419$7,850$7,118
8 years$8,986$8,296$7,656$7,062$6,513$5,812
9 years$7,907$7,223$6,594$6,015$5,485$4,816
10 years$7,044$6,367$5,749$5,185$4,673$4,035
11 years$6,338$5,668$5,061$4,513$4,019$3,411
12 years$5,751$5,087$4,492$3,958$3,483$2,905
13 years$5,254$4,597$4,013$3,495$3,037$2,488
14 years$4,828$4,179$3,606$3,102$2,662$2,142
15 years$4,460$3,818$3,255$2,767$2,344$1,851
16 years$4,138$3,503$2,951$2,477$2,072$1,605
17 years$3,854$3,226$2,686$2,226$1,837$1,396
18 years$3,602$2,981$2,452$2,006$1,633$1,217
19 years$3,377$2,763$2,244$1,812$1,456$1,063
20 years$3,174$2,567$2,060$1,641$1,300$931
21 years$2,991$2,391$1,895$1,490$1,164$816
22 years$2,825$2,232$1,746$1,355$1,043$716
23 years$2,674$2,088$1,612$1,234$936$630
24 years$2,535$1,956$1,491$1,125$842$554
25 years$2,408$1,836$1,381$1,028$757$488
26 years$2,291$1,725$1,281$940$682$430
27 years$2,182$1,624$1,189$860$615$379
28 years$2,082$1,530$1,106$788$555$335
29 years$1,988$1,443$1,029$723$501$296
30 years$1,901$1,363$958$663$453$261
31 years$1,820$1,288$894$609$409$231
32 years$1,744$1,219$834$560$370$204
33 years$1,673$1,155$778$515$335$180
34 years$1,606$1,094$727$474$303$160
35 years$1,543$1,038$680$436$275$141
36 years$1,483$985$636$401$249$125
37 years$1,427$936$595$370$226$111
38 years$1,374$889$558$341$205$98
39 years$1,324$846$522$314$186$87
40 years$1,277$804$490$290$168$77
41 years$1,232$766$459$268$153$68
42 years$1,189$729$431$247$139$60
43 years$1,148$695$404$228$126$53
44 years$1,110$662$379$210$114$47
45 years$1,073$632$356$194$104$42
46 years$1,038$603$335$180$94$37
47 years$1,004$575$314$166$85$33
48 years$972$549$295$153$78$29
49 years$941$524$278$142$70$26
50 years$912$501$261$131$64$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $934,000, adding $2,351 every year, while hoping to spend $35,503 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: 58/13/29 Blend
59$934,000$934,000$934,000$934,000
60$1,031,693$982,191$967,714$1,083,214
61$1,099,151$992,544$962,358$1,129,162
62$1,172,299$1,002,213$955,632$1,175,308
63$1,251,682$1,011,130$947,453$1,224,903
64$1,337,895$1,019,217$937,735$1,278,292
65$1,431,596$1,026,394$926,384$1,335,857
66$1,533,508$1,032,576$913,307$1,398,020
67$1,644,425$1,037,671$898,402$1,465,246
68$1,765,222$1,041,583$881,564$1,538,050
69$1,896,862$1,044,208$862,684$1,616,999
70$2,040,404$1,045,437$841,647$1,702,723
71$2,197,015$1,045,153$818,331$1,795,914
72$2,367,978$1,043,232$792,613$1,897,338
73$2,554,704$1,039,544$764,358$2,007,841
74$2,758,751$1,033,949$733,431$2,128,357
75$2,981,830$1,026,298$699,687$2,259,917
76$3,225,826$1,016,436$662,976$2,403,660
77$3,492,814$1,004,195$623,140$2,560,842
78$3,785,081$989,401$580,015$2,732,852
79$4,105,143$971,866$533,429$2,921,221
80$4,455,772$951,391$483,204$3,127,640
81$4,840,020$927,769$429,150$3,353,975
82$5,261,249$900,776$371,074$3,602,287
83$5,723,161$870,179$308,769$3,874,848
84$6,229,834$835,728$242,023$4,174,168
85$6,785,759$797,161$170,613$4,503,013
86$7,395,884$754,199$94,306$4,864,440
87$8,065,658$706,548$12,859$5,261,818
88$8,801,083$653,898$0$5,698,866
89$9,608,773$595,918$0$6,202,602
90$10,496,012$532,262$0$6,760,372
91$11,470,824$462,561$0$7,373,271
92$12,542,049$386,429$0$8,046,896
93$13,719,428$303,453$0$8,787,416
94$15,013,689$213,202$0$9,601,627
95$16,436,653$115,216$0$10,497,024
96$18,001,344$9,014$0$11,481,862
97$19,722,110$0$0$12,565,243
98$21,614,761$0$0$13,772,349
99$23,696,713$0$0$15,101,696
100$25,987,157$0$0$16,564,262