Can I retire at age 60 with 964,000?

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 $964,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$79,606$78,897$78,205$77,530$76,871$76,322
2 years$39,409$38,675$37,964$37,274$36,605$36,052
3 years$26,012$25,275$24,565$23,882$23,224$22,683
4 years$19,314$18,579$17,877$17,206$16,563$16,040
5 years$15,297$14,567$13,873$13,215$12,591$12,086
6 years$12,620$11,895$11,212$10,569$9,963$9,476
7 years$10,708$9,989$9,317$8,689$8,103$7,635
8 years$9,275$8,563$7,902$7,289$6,722$6,273
9 years$8,161$7,455$6,806$6,209$5,661$5,231
10 years$7,270$6,571$5,933$5,352$4,823$4,413
11 years$6,542$5,850$5,224$4,658$4,148$3,756
12 years$5,935$5,251$4,636$4,085$3,595$3,221
13 years$5,423$4,745$4,142$3,607$3,135$2,778
14 years$4,984$4,313$3,721$3,202$2,748$2,409
15 years$4,603$3,940$3,360$2,855$2,419$2,097
16 years$4,271$3,615$3,046$2,557$2,138$1,833
17 years$3,978$3,329$2,772$2,297$1,896$1,606
18 years$3,718$3,076$2,530$2,070$1,686$1,411
19 years$3,485$2,851$2,317$1,871$1,503$1,243
20 years$3,276$2,650$2,126$1,694$1,342$1,097
21 years$3,088$2,468$1,955$1,538$1,201$969
22 years$2,916$2,304$1,802$1,398$1,077$858
23 years$2,760$2,155$1,664$1,273$966$761
24 years$2,617$2,019$1,539$1,161$869$675
25 years$2,485$1,894$1,425$1,061$782$599
26 years$2,364$1,781$1,322$970$704$533
27 years$2,252$1,676$1,228$888$635$474
28 years$2,149$1,579$1,141$813$573$422
29 years$2,052$1,490$1,062$746$517$376
30 years$1,962$1,407$989$684$467$335
31 years$1,878$1,330$922$629$422$299
32 years$1,800$1,258$860$578$382$267
33 years$1,726$1,192$803$531$346$238
34 years$1,657$1,129$751$489$313$212
35 years$1,592$1,071$702$450$284$190
36 years$1,531$1,017$657$414$257$169
37 years$1,473$966$614$382$233$151
38 years$1,419$918$575$352$211$135
39 years$1,367$873$539$324$191$121
40 years$1,318$830$505$299$174$108
41 years$1,271$790$474$276$158$97
42 years$1,227$753$444$255$143$86
43 years$1,185$717$417$235$130$77
44 years$1,145$684$392$217$118$69
45 years$1,107$652$368$201$107$62
46 years$1,071$622$345$185$97$55
47 years$1,036$593$324$171$88$50
48 years$1,003$567$305$158$80$44
49 years$972$541$287$146$73$40
50 years$941$517$269$135$66$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $964,000, adding $4,059 every year, while hoping to spend $20,366 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: 65/21/14 Blend
59$964,000$964,000$964,000$964,000
60$1,066,515$1,015,423$1,000,481$1,132,051
61$1,153,630$1,043,509$1,012,328$1,204,455
62$1,248,949$1,072,289$1,023,889$1,280,800
63$1,353,285$1,101,776$1,035,133$1,363,716
64$1,467,538$1,131,980$1,046,028$1,453,844
65$1,592,696$1,162,916$1,056,539$1,551,891
66$1,729,847$1,194,595$1,066,629$1,658,634
67$1,880,190$1,227,029$1,076,259$1,774,928
68$2,045,046$1,260,230$1,085,391$1,901,716
69$2,225,869$1,294,210$1,093,980$2,040,037
70$2,424,262$1,328,980$1,101,982$2,191,034
71$2,641,988$1,364,551$1,109,350$2,355,966
72$2,880,991$1,400,935$1,116,034$2,536,222
73$3,143,413$1,438,142$1,121,981$2,733,330
74$3,431,611$1,476,181$1,127,138$2,948,972
75$3,748,184$1,515,062$1,131,446$3,185,005
76$4,095,994$1,554,795$1,134,844$3,443,471
77$4,478,193$1,595,388$1,137,270$3,726,622
78$4,898,256$1,636,849$1,138,655$4,036,938
79$5,360,009$1,679,185$1,138,930$4,377,152
80$5,867,667$1,722,403$1,138,022$4,750,273
81$6,425,876$1,766,508$1,135,853$5,159,621
82$7,039,753$1,811,504$1,132,342$5,608,848
83$7,714,937$1,857,397$1,127,404$6,101,984
84$8,457,638$1,904,187$1,120,950$6,643,464
85$9,274,703$1,951,878$1,112,887$7,238,180
86$10,173,671$2,000,468$1,103,117$7,891,518
87$11,162,851$2,049,957$1,091,538$8,609,415
88$12,251,400$2,100,342$1,078,042$9,398,413
89$13,449,403$2,151,620$1,062,516$10,265,720
90$14,767,976$2,203,783$1,044,845$11,219,280
91$16,219,365$2,256,824$1,024,903$12,267,846
92$17,817,066$2,310,733$1,002,562$13,421,063
93$19,575,946$2,365,499$977,688$14,689,559
94$21,512,391$2,421,107$950,139$16,085,048
95$23,644,454$2,477,540$919,767$17,620,436
96$25,992,028$2,534,779$886,419$19,309,947
97$28,577,033$2,592,802$849,933$21,169,253
98$31,423,624$2,651,583$810,139$23,215,627
99$34,558,417$2,711,094$766,862$25,468,102
100$38,010,741$2,771,303$719,917$27,947,653