Can I retire at age 60 with 945,000?

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 $945,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$78,037$77,342$76,664$76,002$75,356$74,881
2 years$38,632$37,913$37,215$36,539$35,884$35,405
3 years$25,499$24,776$24,081$23,411$22,766$22,298
4 years$18,934$18,213$17,525$16,866$16,237$15,783
5 years$14,996$14,279$13,600$12,955$12,343$11,905
6 years$12,371$11,660$10,991$10,360$9,767$9,344
7 years$10,497$9,792$9,133$8,518$7,943$7,537
8 years$9,092$8,394$7,746$7,145$6,589$6,200
9 years$8,000$7,308$6,671$6,086$5,549$5,176
10 years$7,127$6,442$5,816$5,246$4,728$4,371
11 years$6,413$5,735$5,121$4,566$4,066$3,725
12 years$5,818$5,147$4,544$4,005$3,524$3,198
13 years$5,316$4,652$4,060$3,536$3,073$2,763
14 years$4,885$4,228$3,648$3,139$2,694$2,398
15 years$4,513$3,863$3,294$2,799$2,372$2,091
16 years$4,187$3,544$2,986$2,506$2,096$1,830
17 years$3,900$3,264$2,717$2,252$1,859$1,606
18 years$3,645$3,016$2,481$2,029$1,653$1,413
19 years$3,417$2,795$2,271$1,834$1,473$1,246
20 years$3,212$2,597$2,084$1,661$1,316$1,101
21 years$3,027$2,419$1,917$1,507$1,177$975
22 years$2,859$2,258$1,767$1,370$1,055$864
23 years$2,705$2,112$1,631$1,248$947$767
24 years$2,565$1,979$1,509$1,138$852$682
25 years$2,436$1,857$1,397$1,040$766$606
26 years$2,318$1,745$1,296$951$690$540
27 years$2,208$1,643$1,203$870$622$481
28 years$2,106$1,548$1,119$797$561$429
29 years$2,012$1,460$1,041$731$507$383
30 years$1,924$1,379$970$671$458$342
31 years$1,841$1,304$904$616$414$305
32 years$1,764$1,233$843$566$375$273
33 years$1,692$1,168$788$521$339$244
34 years$1,625$1,107$736$479$307$218
35 years$1,561$1,050$688$441$278$195
36 years$1,501$997$644$406$252$175
37 years$1,444$947$602$374$228$156
38 years$1,391$900$564$345$207$140
39 years$1,340$855$529$318$188$125
40 years$1,292$814$495$293$170$112
41 years$1,246$775$464$271$154$100
42 years$1,203$738$436$250$140$90
43 years$1,162$703$409$231$127$81
44 years$1,123$670$384$213$115$72
45 years$1,085$639$360$197$105$65
46 years$1,050$610$338$182$95$58
47 years$1,016$582$318$168$86$52
48 years$983$555$299$155$78$47
49 years$952$530$281$143$71$42
50 years$923$507$264$132$65$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $945,000, adding $2,830 every year, while hoping to spend $42,617 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: 47/46/7 Blend
59$945,000$945,000$945,000$945,000
60$1,044,309$994,224$979,577$1,091,297
61$1,105,485$997,597$967,048$1,127,218
62$1,171,471$999,707$952,672$1,161,478
63$1,242,716$1,000,447$936,341$1,197,661
64$1,319,707$999,703$917,942$1,235,958
65$1,402,984$997,355$897,360$1,276,583
66$1,493,138$993,275$874,472$1,319,771
67$1,590,820$987,328$849,148$1,365,784
68$1,696,745$979,368$821,256$1,414,913
69$1,811,700$969,244$790,655$1,467,483
70$1,936,550$956,793$757,198$1,523,852
71$2,072,246$941,844$720,732$1,584,421
72$2,219,835$924,214$681,097$1,649,630
73$2,380,469$903,712$638,125$1,719,974
74$2,555,416$880,133$591,641$1,795,996
75$2,746,070$853,261$541,462$1,878,301
76$2,953,965$822,867$487,397$1,967,562
77$3,180,791$788,709$429,247$2,064,520
78$3,428,408$750,531$366,803$2,170,002
79$3,698,861$708,063$299,846$2,284,920
80$3,994,404$661,018$228,151$2,410,288
81$4,317,519$609,092$151,479$2,547,226
82$4,670,934$551,967$69,582$2,696,977
83$5,057,659$489,302$0$2,860,917
84$5,481,003$420,742$0$3,041,900
85$5,944,614$345,906$0$3,245,913
86$6,452,507$264,398$0$3,469,641
87$7,009,103$175,793$0$3,715,171
88$7,619,272$79,649$0$3,984,810
89$8,288,379$0$0$4,281,109
90$9,022,331$0$0$4,619,295
91$9,827,635$0$0$5,034,701
92$10,711,459$0$0$5,490,723
93$11,681,697$0$0$5,991,447
94$12,747,045$0$0$6,541,376
95$13,917,085$0$0$7,145,470
96$15,202,368$0$0$7,809,193
97$16,614,521$0$0$8,538,565
98$18,166,351$0$0$9,340,217
99$19,871,968$0$0$10,221,455
100$21,746,917$0$0$11,190,329