Can I retire at age 60 with 944,000?

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 $944,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$77,955$77,260$76,583$75,922$75,276$74,864
2 years$38,591$37,873$37,176$36,501$35,846$35,430
3 years$25,472$24,750$24,055$23,386$22,742$22,336
4 years$18,914$18,194$17,506$16,849$16,220$15,826
5 years$14,980$14,264$13,586$12,941$12,330$11,949
6 years$12,358$11,648$10,979$10,349$9,756$9,390
7 years$10,486$9,782$9,124$8,509$7,934$7,582
8 years$9,082$8,385$7,738$7,138$6,582$6,244
9 years$7,992$7,301$6,664$6,080$5,543$5,219
10 years$7,119$6,435$5,810$5,241$4,723$4,413
11 years$6,406$5,729$5,115$4,561$4,062$3,765
12 years$5,812$5,142$4,540$4,001$3,520$3,237
13 years$5,310$4,647$4,056$3,532$3,070$2,799
14 years$4,880$4,224$3,644$3,135$2,691$2,433
15 years$4,508$3,858$3,290$2,796$2,369$2,124
16 years$4,182$3,540$2,983$2,504$2,094$1,861
17 years$3,895$3,260$2,714$2,250$1,857$1,636
18 years$3,641$3,013$2,478$2,027$1,651$1,441
19 years$3,413$2,792$2,268$1,832$1,471$1,273
20 years$3,208$2,595$2,082$1,659$1,314$1,127
21 years$3,023$2,417$1,915$1,506$1,176$999
22 years$2,856$2,256$1,765$1,369$1,054$887
23 years$2,703$2,110$1,630$1,247$946$788
24 years$2,562$1,977$1,507$1,137$851$702
25 years$2,434$1,855$1,396$1,039$765$625
26 years$2,315$1,744$1,295$950$689$557
27 years$2,206$1,641$1,202$869$622$498
28 years$2,104$1,546$1,118$796$561$444
29 years$2,010$1,459$1,040$730$506$397
30 years$1,922$1,378$969$670$458$355
31 years$1,839$1,302$903$616$414$318
32 years$1,763$1,232$843$566$374$284
33 years$1,691$1,167$787$520$339$255
34 years$1,623$1,106$735$479$307$228
35 years$1,559$1,049$687$441$278$204
36 years$1,499$996$643$406$252$183
37 years$1,443$946$602$374$228$164
38 years$1,389$899$564$345$207$147
39 years$1,339$855$528$318$188$132
40 years$1,291$813$495$293$170$118
41 years$1,245$774$464$270$154$106
42 years$1,202$737$435$250$140$95
43 years$1,161$702$408$230$127$86
44 years$1,122$669$383$213$115$77
45 years$1,084$638$360$196$105$69
46 years$1,049$609$338$181$95$62
47 years$1,015$581$318$168$86$56
48 years$982$555$298$155$78$50
49 years$951$530$281$143$71$45
50 years$922$506$264$132$65$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $944,000, adding $4,376 every year, while hoping to spend $52,797 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: 84/6/10 Blend
59$944,000$944,000$944,000$944,000
60$1,044,802$994,770$980,138$1,130,645
61$1,095,196$987,338$956,797$1,179,996
62$1,148,961$977,772$930,904$1,226,649
63$1,206,385$965,913$902,319$1,276,272
64$1,267,783$951,589$870,894$1,329,131
65$1,333,501$934,622$836,474$1,385,519
66$1,403,920$914,820$798,897$1,445,758
67$1,479,455$891,981$757,995$1,510,205
68$1,560,563$865,892$713,592$1,579,250
69$1,647,745$836,326$665,502$1,653,324
70$1,741,553$803,043$613,534$1,732,903
71$1,842,589$765,790$557,485$1,818,508
72$1,951,518$724,299$497,146$1,910,716
73$2,069,069$678,286$432,296$2,010,161
74$2,196,043$627,451$362,707$2,117,543
75$2,333,320$571,476$288,138$2,233,631
76$2,481,867$510,027$208,340$2,359,275
77$2,642,749$442,750$123,050$2,495,409
78$2,817,134$369,269$31,997$2,643,066
79$3,006,308$289,190$0$2,803,381
80$3,211,685$202,094$0$2,984,560
81$3,434,822$107,541$0$3,185,126
82$3,677,427$5,065$0$3,403,213
83$3,941,385$0$0$3,640,535
84$4,228,765$0$0$3,905,963
85$4,541,847$0$0$4,195,508
86$4,883,138$0$0$4,511,158
87$5,255,398$0$0$4,855,466
88$5,661,666$0$0$5,231,246
89$6,105,285$0$0$5,641,591
90$6,589,937$0$0$6,089,910
91$7,119,673$0$0$6,579,953
92$7,698,955$0$0$7,115,849
93$8,332,696$0$0$7,702,146
94$9,026,304$0$0$8,343,851
95$9,785,737$0$0$9,046,477
96$10,617,552$0$0$9,816,094
97$11,528,972$0$0$10,659,388
98$12,527,954$0$0$11,583,723
99$13,623,256$0$0$12,597,209
100$14,824,530$0$0$13,708,776