Can I retire at age 60 with 942,000?

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 $942,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$77,789$77,097$76,421$75,761$75,116$74,332
2 years$38,510$37,792$37,097$36,423$35,770$34,980
3 years$25,418$24,698$24,004$23,337$22,694$21,923
4 years$18,874$18,155$17,469$16,813$16,185$15,439
5 years$14,948$14,234$13,557$12,914$12,304$11,585
6 years$12,332$11,623$10,956$10,327$9,736$9,045
7 years$10,464$9,761$9,104$8,491$7,918$7,255
8 years$9,063$8,367$7,721$7,123$6,568$5,934
9 years$7,975$7,285$6,650$6,067$5,532$4,925
10 years$7,104$6,421$5,798$5,230$4,713$4,134
11 years$6,393$5,717$5,104$4,551$4,054$3,502
12 years$5,800$5,131$4,530$3,992$3,513$2,988
13 years$5,299$4,637$4,047$3,525$3,063$2,564
14 years$4,870$4,215$3,636$3,129$2,685$2,211
15 years$4,498$3,850$3,283$2,790$2,364$1,915
16 years$4,173$3,533$2,977$2,498$2,089$1,664
17 years$3,887$3,253$2,709$2,245$1,853$1,450
18 years$3,633$3,006$2,473$2,023$1,647$1,267
19 years$3,406$2,786$2,264$1,828$1,468$1,110
20 years$3,202$2,589$2,077$1,656$1,312$973
21 years$3,017$2,412$1,911$1,503$1,174$855
22 years$2,850$2,251$1,761$1,366$1,052$753
23 years$2,697$2,105$1,626$1,244$944$663
24 years$2,557$1,973$1,504$1,135$849$585
25 years$2,429$1,851$1,393$1,036$764$516
26 years$2,310$1,740$1,292$948$688$456
27 years$2,201$1,637$1,200$867$620$403
28 years$2,100$1,543$1,115$795$560$357
29 years$2,005$1,456$1,038$729$505$316
30 years$1,918$1,375$967$669$457$279
31 years$1,836$1,299$901$614$413$248
32 years$1,759$1,230$841$564$373$219
33 years$1,687$1,164$785$519$338$195
34 years$1,619$1,104$734$478$306$173
35 years$1,556$1,047$686$440$277$153
36 years$1,496$994$642$405$251$136
37 years$1,440$944$600$373$228$121
38 years$1,386$897$562$344$206$107
39 years$1,336$853$527$317$187$95
40 years$1,288$811$494$292$170$84
41 years$1,242$772$463$270$154$75
42 years$1,199$736$434$249$140$66
43 years$1,158$701$408$230$127$59
44 years$1,119$668$383$212$115$52
45 years$1,082$637$359$196$104$47
46 years$1,047$608$337$181$95$41
47 years$1,013$580$317$167$86$37
48 years$980$554$298$155$78$33
49 years$949$529$280$143$71$29
50 years$920$505$263$132$65$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $942,000, adding $6,784 every year, while hoping to spend $31,580 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: 69/15/16 Blend
59$942,000$942,000$942,000$942,000
60$1,045,082$995,156$980,555$1,112,810
61$1,118,079$1,010,317$979,802$1,173,950
62$1,197,464$1,025,164$977,966$1,236,434
63$1,283,854$1,039,646$974,977$1,303,998
64$1,377,930$1,053,711$970,762$1,377,141
65$1,480,440$1,067,304$965,243$1,456,411
66$1,592,208$1,080,365$958,342$1,542,410
67$1,714,140$1,092,830$949,973$1,635,805
68$1,847,234$1,104,630$940,050$1,737,329
69$1,992,589$1,115,694$928,478$1,847,791
70$2,151,414$1,125,944$915,163$1,968,081
71$2,325,039$1,135,296$900,002$2,099,184
72$2,514,931$1,143,664$882,890$2,242,181
73$2,722,704$1,150,953$863,716$2,398,267
74$2,950,133$1,157,063$842,364$2,568,758
75$3,199,176$1,161,888$818,713$2,755,105
76$3,471,988$1,165,317$792,635$2,958,908
77$3,770,941$1,167,227$763,999$3,181,932
78$4,098,648$1,167,493$732,665$3,426,119
79$4,457,989$1,165,979$698,488$3,693,614
80$4,852,133$1,162,541$661,316$3,986,779
81$5,284,571$1,157,026$620,991$4,308,219
82$5,759,150$1,149,273$577,347$4,660,806
83$6,280,106$1,139,110$530,210$5,047,705
84$6,852,106$1,126,355$479,401$5,472,407
85$7,480,289$1,110,815$424,730$5,938,759
86$8,170,319$1,092,286$365,999$6,451,002
87$8,928,434$1,070,550$303,002$7,013,811
88$9,761,506$1,045,379$235,524$7,632,341
89$10,677,106$1,016,529$163,341$8,312,272
90$11,683,575$983,743$86,217$9,059,868
91$12,790,102$946,749$3,907$9,882,034
92$14,006,811$905,258$0$10,786,379
93$15,344,856$858,966$0$11,795,622
94$16,816,526$807,550$0$12,906,326
95$18,435,362$750,670$0$14,128,063
96$20,216,280$687,964$0$15,472,121
97$22,175,718$619,052$0$16,950,937
98$24,331,786$543,530$0$18,578,219
99$26,704,438$460,973$0$20,369,072
100$29,315,662$370,932$0$22,340,143