Can I retire at age 60 with 962,000?

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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$79,441$78,733$78,043$77,369$76,711$75,409
2 years$39,327$38,595$37,885$37,197$36,529$35,222
3 years$25,958$25,222$24,514$23,832$23,176$21,903
4 years$19,274$18,541$17,840$17,170$16,529$15,301
5 years$15,265$14,536$13,845$13,188$12,565$11,386
6 years$12,593$11,870$11,188$10,547$9,942$8,812
7 years$10,686$9,968$9,298$8,671$8,086$7,006
8 years$9,256$8,545$7,885$7,274$6,708$5,678
9 years$8,144$7,440$6,791$6,196$5,649$4,668
10 years$7,255$6,558$5,921$5,341$4,813$3,881
11 years$6,528$5,838$5,213$4,648$4,140$3,254
12 years$5,923$5,240$4,626$4,077$3,587$2,748
13 years$5,411$4,735$4,133$3,599$3,128$2,334
14 years$4,973$4,304$3,714$3,195$2,742$1,992
15 years$4,594$3,932$3,353$2,849$2,414$1,706
16 years$4,262$3,608$3,040$2,551$2,134$1,466
17 years$3,970$3,322$2,766$2,292$1,892$1,263
18 years$3,710$3,070$2,525$2,066$1,682$1,091
19 years$3,478$2,845$2,312$1,867$1,499$944
20 years$3,270$2,644$2,122$1,691$1,339$819
21 years$3,081$2,463$1,951$1,534$1,199$711
22 years$2,910$2,299$1,799$1,395$1,074$618
23 years$2,754$2,150$1,661$1,271$964$538
24 years$2,611$2,015$1,536$1,159$867$468
25 years$2,480$1,891$1,422$1,058$780$408
26 years$2,359$1,777$1,319$968$703$356
27 years$2,248$1,672$1,225$886$633$311
28 years$2,144$1,576$1,139$812$572$271
29 years$2,048$1,486$1,060$744$516$237
30 years$1,958$1,404$987$683$466$207
31 years$1,875$1,327$920$627$422$181
32 years$1,796$1,256$859$576$381$158
33 years$1,723$1,189$802$530$345$139
34 years$1,654$1,127$749$488$312$121
35 years$1,589$1,069$700$449$283$106
36 years$1,528$1,015$655$414$256$93
37 years$1,470$964$613$381$232$81
38 years$1,416$916$574$351$211$71
39 years$1,364$871$538$324$191$62
40 years$1,315$829$504$299$173$55
41 years$1,269$789$473$276$157$48
42 years$1,225$751$444$254$143$42
43 years$1,183$716$416$235$129$37
44 years$1,143$682$391$217$118$32
45 years$1,105$651$367$200$107$28
46 years$1,069$621$345$185$97$25
47 years$1,034$592$324$171$88$22
48 years$1,001$565$304$158$80$19
49 years$969$540$286$146$73$17
50 years$939$516$269$135$66$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $962,000, adding $3,533 every year, while hoping to spend $58,533 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: 50/42/8 Blend
59$962,000$962,000$962,000$962,000
60$1,063,768$1,012,782$997,871$1,114,581
61$1,109,994$1,000,130$969,021$1,136,987
62$1,158,973$984,896$937,243$1,154,781
63$1,210,924$966,892$902,377$1,172,742
64$1,266,087$945,918$864,255$1,190,899
65$1,324,724$921,764$822,703$1,209,290
66$1,387,120$894,205$777,538$1,227,959
67$1,453,590$863,005$728,570$1,246,960
68$1,524,477$827,913$675,598$1,266,353
69$1,600,157$788,664$618,414$1,286,214
70$1,681,043$744,978$556,800$1,306,627
71$1,767,585$696,557$490,528$1,327,692
72$1,860,279$643,089$419,362$1,349,524
73$1,959,669$584,242$343,052$1,372,257
74$2,066,350$519,665$261,339$1,396,042
75$2,180,977$448,988$173,953$1,421,055
76$2,304,267$371,819$80,611$1,447,496
77$2,437,009$287,744$0$1,475,593
78$2,580,069$196,328$0$1,507,228
79$2,734,396$97,109$0$1,548,520
80$2,901,037$0$0$1,592,944
81$3,081,139$0$0$1,645,711
82$3,275,963$0$0$1,751,422
83$3,486,897$0$0$1,865,957
84$3,715,464$0$0$1,990,155
85$3,963,342$0$0$2,124,938
86$4,232,374$0$0$2,271,320
87$4,524,587$0$0$2,430,417
88$4,842,212$0$0$2,603,456
89$5,187,703$0$0$2,791,786
90$5,563,759$0$0$2,996,894
91$5,973,350$0$0$3,220,413
92$6,419,745$0$0$3,464,143
93$6,906,541$0$0$3,730,064
94$7,437,698$0$0$4,020,356
95$8,017,574$0$0$4,337,416
96$8,650,966$0$0$4,683,886
97$9,343,155$0$0$5,062,675
98$10,099,956$0$0$5,476,982
99$10,927,771$0$0$5,930,333
100$11,833,647$0$0$6,426,608