Can I retire at age 60 with 949,000?

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 $949,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$78,368$77,669$76,988$76,324$75,675$74,482
2 years$38,796$38,073$37,373$36,694$36,036$34,837
3 years$25,607$24,881$24,183$23,510$22,862$21,696
4 years$19,014$18,290$17,599$16,938$16,306$15,179
5 years$15,059$14,340$13,657$13,010$12,395$11,313
6 years$12,423$11,710$11,037$10,404$9,808$8,770
7 years$10,541$9,834$9,172$8,554$7,977$6,984
8 years$9,131$8,429$7,779$7,176$6,617$5,670
9 years$8,034$7,339$6,700$6,112$5,573$4,670
10 years$7,157$6,469$5,841$5,269$4,748$3,889
11 years$6,440$5,759$5,142$4,585$4,084$3,268
12 years$5,843$5,169$4,564$4,022$3,539$2,765
13 years$5,338$4,671$4,077$3,551$3,086$2,353
14 years$4,906$4,246$3,663$3,152$2,705$2,012
15 years$4,532$3,879$3,308$2,811$2,382$1,727
16 years$4,204$3,559$2,999$2,517$2,105$1,487
17 years$3,916$3,278$2,729$2,261$1,866$1,284
18 years$3,660$3,029$2,491$2,038$1,660$1,112
19 years$3,431$2,807$2,280$1,842$1,479$964
20 years$3,225$2,608$2,093$1,668$1,321$838
21 years$3,039$2,430$1,925$1,514$1,182$729
22 years$2,871$2,268$1,774$1,376$1,060$635
23 years$2,717$2,121$1,638$1,253$951$554
24 years$2,576$1,987$1,515$1,143$855$484
25 years$2,447$1,865$1,403$1,044$769$423
26 years$2,327$1,753$1,301$955$693$369
27 years$2,217$1,650$1,209$874$625$323
28 years$2,115$1,554$1,123$801$564$283
29 years$2,020$1,466$1,045$734$509$248
30 years$1,932$1,385$974$674$460$217
31 years$1,849$1,309$908$619$416$190
32 years$1,772$1,239$847$569$376$167
33 years$1,700$1,173$791$523$340$146
34 years$1,632$1,112$739$481$308$128
35 years$1,568$1,055$691$443$279$113
36 years$1,507$1,001$646$408$253$99
37 years$1,450$951$605$376$229$87
38 years$1,397$903$566$346$208$76
39 years$1,346$859$531$319$189$67
40 years$1,297$817$497$295$171$59
41 years$1,252$778$466$272$155$52
42 years$1,208$741$438$251$141$45
43 years$1,167$706$411$232$128$40
44 years$1,128$673$385$214$116$35
45 years$1,090$642$362$197$105$31
46 years$1,054$612$340$182$96$27
47 years$1,020$584$319$169$87$24
48 years$988$558$300$156$79$21
49 years$956$533$282$144$72$18
50 years$927$509$265$133$65$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $949,000, adding $2,900 every year, while hoping to spend $42,322 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: 51/35/14 Blend
59$949,000$949,000$949,000$949,000
60$1,048,789$998,492$983,783$1,098,160
61$1,110,736$1,002,388$971,709$1,136,205
62$1,177,582$1,005,056$957,813$1,172,848
63$1,249,783$1,006,392$941,988$1,211,735
64$1,327,840$1,006,285$924,123$1,253,092
65$1,412,302$1,004,615$904,103$1,297,166
66$1,503,773$1,001,257$881,807$1,344,235
67$1,602,918$996,079$857,108$1,394,603
68$1,710,467$988,938$829,872$1,448,612
69$1,827,224$979,685$799,962$1,506,637
70$1,954,072$968,160$767,232$1,569,095
71$2,091,983$954,196$731,530$1,636,450
72$2,242,027$937,614$692,698$1,709,213
73$2,405,380$918,223$650,570$1,787,954
74$2,583,337$895,825$604,973$1,873,300
75$2,777,324$870,206$555,725$1,965,950
76$2,988,907$841,142$502,638$2,066,673
77$3,219,813$808,395$445,514$2,176,326
78$3,471,941$771,714$384,146$2,295,852
79$3,747,383$730,833$318,319$2,426,300
80$4,048,442$685,469$247,808$2,568,826
81$4,377,651$635,325$172,378$2,724,713
82$4,737,803$580,087$91,784$2,895,378
83$5,131,969$519,422$5,769$3,082,390
84$5,563,533$452,977$0$3,287,481
85$6,036,223$380,382$0$3,525,421
86$6,554,141$301,244$0$3,787,235
87$7,121,807$215,149$0$4,074,446
88$7,744,197$121,657$0$4,389,692
89$8,426,795$20,308$0$4,735,882
90$9,175,637$0$0$5,116,232
91$9,997,374$0$0$5,568,716
92$10,899,332$0$0$6,074,060
93$11,889,579$0$0$6,628,974
94$12,977,005$0$0$7,238,453
95$14,171,401$0$0$7,907,998
96$15,483,554$0$0$8,643,671
97$16,925,347$0$0$9,452,148
98$18,509,870$0$0$10,340,785
99$20,251,547$0$0$11,317,684
100$22,166,264$0$0$12,391,775