Can I retire at age 60 with 960,000?

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 $960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$79,276$78,570$77,881$77,208$76,552$75,533
2 years$39,245$38,515$37,806$37,119$36,453$35,428
3 years$25,904$25,170$24,463$23,783$23,127$22,128
4 years$19,234$18,502$17,803$17,134$16,495$15,529
5 years$15,234$14,506$13,816$13,161$12,539$11,610
6 years$12,567$11,845$11,165$10,525$9,922$9,030
7 years$10,664$9,948$9,278$8,653$8,069$7,215
8 years$9,236$8,527$7,869$7,259$6,694$5,878
9 years$8,127$7,424$6,777$6,183$5,637$4,858
10 years$7,240$6,544$5,909$5,330$4,803$4,061
11 years$6,515$5,826$5,202$4,638$4,131$3,425
12 years$5,911$5,229$4,617$4,068$3,580$2,909
13 years$5,400$4,725$4,125$3,592$3,122$2,485
14 years$4,963$4,295$3,706$3,188$2,736$2,133
15 years$4,584$3,924$3,346$2,844$2,409$1,839
16 years$4,253$3,600$3,034$2,546$2,129$1,590
17 years$3,961$3,316$2,760$2,288$1,888$1,379
18 years$3,702$3,064$2,520$2,062$1,679$1,199
19 years$3,471$2,839$2,307$1,863$1,496$1,044
20 years$3,263$2,639$2,117$1,687$1,337$912
21 years$3,075$2,458$1,947$1,531$1,196$797
22 years$2,904$2,294$1,795$1,392$1,072$697
23 years$2,748$2,146$1,657$1,268$962$611
24 years$2,606$2,010$1,533$1,156$865$536
25 years$2,475$1,887$1,420$1,056$778$471
26 years$2,354$1,773$1,317$966$701$413
27 years$2,243$1,669$1,223$884$632$363
28 years$2,140$1,572$1,136$810$570$320
29 years$2,044$1,483$1,058$743$515$281
30 years$1,954$1,401$985$682$465$248
31 years$1,871$1,324$918$626$421$218
32 years$1,792$1,253$857$575$381$192
33 years$1,719$1,187$800$529$344$169
34 years$1,650$1,125$748$487$312$149
35 years$1,586$1,067$699$448$282$132
36 years$1,525$1,013$654$413$256$116
37 years$1,467$962$612$380$232$103
38 years$1,413$914$573$350$210$90
39 years$1,361$869$537$323$191$80
40 years$1,312$827$503$298$173$70
41 years$1,266$787$472$275$157$62
42 years$1,222$750$443$254$142$55
43 years$1,180$714$415$234$129$48
44 years$1,141$681$390$216$117$43
45 years$1,103$649$366$200$106$38
46 years$1,067$619$344$185$97$33
47 years$1,032$591$323$170$88$29
48 years$999$564$304$158$80$26
49 years$967$539$285$146$72$23
50 years$937$515$268$135$66$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $960,000, adding $3,779 every year, while hoping to spend $54,261 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: 45/44/11 Blend
59$960,000$960,000$960,000$960,000
60$1,061,818$1,010,938$996,058$1,106,124
61$1,112,390$1,002,741$971,693$1,129,034
62$1,166,302$992,323$944,693$1,148,020
63$1,223,837$979,519$914,912$1,167,390
64$1,285,306$964,153$882,199$1,187,198
65$1,351,048$946,038$846,394$1,207,510
66$1,421,438$924,976$807,330$1,228,401
67$1,496,883$900,759$764,835$1,249,956
68$1,577,834$873,164$718,725$1,272,277
69$1,664,782$841,958$668,811$1,295,477
70$1,758,267$806,892$614,895$1,319,688
71$1,858,885$767,704$556,767$1,345,059
72$1,967,285$724,115$494,213$1,371,761
73$2,084,184$675,833$427,005$1,399,988
74$2,210,368$622,546$354,908$1,429,959
75$2,346,702$563,927$277,673$1,461,924
76$2,494,134$499,628$195,043$1,496,163
77$2,653,708$429,282$106,750$1,532,996
78$2,826,572$352,503$12,511$1,572,779
79$3,013,986$268,880$0$1,615,918
80$3,217,339$177,981$0$1,673,200
81$3,438,155$79,350$0$1,737,039
82$3,678,113$0$0$1,806,575
83$3,939,059$0$0$1,895,800
84$4,223,023$0$0$2,034,804
85$4,532,240$0$0$2,186,274
86$4,869,170$0$0$2,351,427
87$5,236,517$0$0$2,531,604
88$5,637,260$0$0$2,728,280
89$6,074,677$0$0$2,943,077
90$6,552,378$0$0$3,177,784
91$7,074,333$0$0$3,434,368
92$7,644,916$0$0$3,714,996
93$8,268,943$0$0$4,022,053
94$8,951,714$0$0$4,358,166
95$9,699,067$0$0$4,726,227
96$10,517,429$0$0$5,129,421
97$11,413,880$0$0$5,571,257
98$12,396,215$0$0$6,055,597
99$13,473,018$0$0$6,586,695
100$14,653,746$0$0$7,169,239