Can I retire at age 60 with 941,000?

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 $941,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$77,707$77,015$76,339$75,680$75,037$72,839
2 years$38,469$37,752$37,058$36,385$35,732$33,535
3 years$25,391$24,672$23,979$23,312$22,670$20,544
4 years$18,854$18,136$17,451$16,795$16,168$14,129
5 years$14,932$14,219$13,542$12,900$12,291$10,343
6 years$12,319$11,611$10,944$10,316$9,725$7,872
7 years$10,453$9,751$9,095$8,482$7,909$6,149
8 years$9,054$8,358$7,713$7,115$6,562$4,894
9 years$7,966$7,277$6,643$6,060$5,526$3,950
10 years$7,097$6,415$5,792$5,224$4,708$3,221
11 years$6,386$5,711$5,099$4,547$4,049$2,648
12 years$5,794$5,125$4,525$3,988$3,509$2,192
13 years$5,293$4,632$4,043$3,521$3,060$1,823
14 years$4,865$4,210$3,633$3,125$2,682$1,523
15 years$4,493$3,846$3,280$2,787$2,362$1,277
16 years$4,169$3,529$2,974$2,496$2,087$1,073
17 years$3,883$3,250$2,706$2,242$1,851$904
18 years$3,629$3,003$2,470$2,021$1,646$764
19 years$3,402$2,783$2,261$1,826$1,467$646
20 years$3,198$2,586$2,075$1,654$1,310$547
21 years$3,014$2,409$1,909$1,501$1,172$464
22 years$2,847$2,249$1,759$1,365$1,051$393
23 years$2,694$2,103$1,624$1,243$943$334
24 years$2,554$1,971$1,502$1,134$848$284
25 years$2,426$1,849$1,391$1,035$763$242
26 years$2,308$1,738$1,290$947$687$206
27 years$2,199$1,636$1,198$866$620$175
28 years$2,097$1,541$1,114$794$559$149
29 years$2,003$1,454$1,037$728$505$127
30 years$1,915$1,373$966$668$456$108
31 years$1,834$1,298$900$614$412$92
32 years$1,757$1,228$840$564$373$79
33 years$1,685$1,163$784$519$338$67
34 years$1,618$1,102$733$477$306$57
35 years$1,554$1,046$685$439$277$49
36 years$1,495$992$641$404$251$41
37 years$1,438$943$600$373$227$35
38 years$1,385$896$562$344$206$30
39 years$1,334$852$526$317$187$26
40 years$1,286$810$493$292$170$22
41 years$1,241$771$463$270$154$19
42 years$1,198$735$434$249$140$16
43 years$1,157$700$407$230$127$14
44 years$1,118$667$382$212$115$12
45 years$1,081$636$359$196$104$10
46 years$1,045$607$337$181$95$8
47 years$1,012$579$317$167$86$7
48 years$979$553$298$154$78$6
49 years$948$528$280$143$71$5
50 years$919$504$263$132$64$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $941,000, adding $3,178 every year, while hoping to spend $56,920 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: 36/42/22 Blend
59$941,000$941,000$941,000$941,000
60$1,040,260$990,387$975,802$1,070,693
61$1,085,804$978,354$947,929$1,081,250
62$1,134,086$963,823$917,214$1,087,143
63$1,185,325$946,612$883,503$1,092,350
64$1,239,760$926,528$846,632$1,096,845
65$1,297,654$903,367$806,433$1,100,603
66$1,359,294$876,911$762,727$1,103,603
67$1,424,993$846,930$715,330$1,105,826
68$1,495,095$813,183$664,046$1,107,257
69$1,569,978$775,412$608,675$1,107,887
70$1,650,054$733,345$549,004$1,107,711
71$1,735,775$686,695$484,811$1,106,733
72$1,827,639$635,158$415,867$1,104,963
73$1,926,190$578,412$341,930$1,102,422
74$2,032,024$516,118$262,748$1,099,138
75$2,145,799$447,916$178,058$1,095,155
76$2,268,234$373,427$87,587$1,090,530
77$2,400,120$292,251$0$1,085,333
78$2,542,324$203,963$0$1,081,759
79$2,695,801$108,117$0$1,099,893
80$2,861,599$4,241$0$1,119,360
81$3,040,870$0$0$1,140,397
82$3,234,878$0$0$1,213,264
83$3,445,016$0$0$1,294,422
84$3,672,815$0$0$1,382,517
85$3,919,955$0$0$1,478,214
86$4,188,288$0$0$1,582,245
87$4,479,848$0$0$1,695,414
88$4,796,875$0$0$1,818,607
89$5,141,831$0$0$1,952,799
90$5,517,427$0$0$2,099,062
91$5,926,643$0$0$2,258,578
92$6,372,763$0$0$2,432,644
93$6,859,398$0$0$2,622,692
94$7,390,522$0$0$2,830,295
95$7,970,512$0$0$3,057,186
96$8,604,185$0$0$3,305,273
97$9,296,844$0$0$3,576,657
98$10,054,329$0$0$3,873,651
99$10,883,066$0$0$4,198,802
100$11,790,135$0$0$4,554,915