Can I retire at age 60 with 967,000?

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 $967,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$79,854$79,143$78,449$77,771$77,110$74,109
2 years$39,532$38,795$38,082$37,390$36,719$33,732
3 years$26,093$25,353$24,642$23,956$23,296$20,417
4 years$19,374$18,637$17,933$17,259$16,615$13,865
5 years$15,345$14,612$13,917$13,257$12,630$10,018
6 years$12,659$11,932$11,247$10,601$9,994$7,520
7 years$10,741$10,020$9,346$8,716$8,128$5,791
8 years$9,304$8,589$7,926$7,312$6,743$4,542
9 years$8,186$7,478$6,827$6,228$5,678$3,609
10 years$7,293$6,592$5,952$5,369$4,838$2,897
11 years$6,562$5,868$5,240$4,672$4,161$2,344
12 years$5,954$5,267$4,650$4,098$3,606$1,908
13 years$5,440$4,760$4,155$3,618$3,144$1,560
14 years$4,999$4,327$3,733$3,212$2,756$1,281
15 years$4,618$3,952$3,370$2,864$2,427$1,055
16 years$4,284$3,626$3,056$2,565$2,145$871
17 years$3,990$3,340$2,781$2,304$1,902$721
18 years$3,729$3,086$2,538$2,077$1,691$597
19 years$3,496$2,860$2,324$1,876$1,507$496
20 years$3,287$2,658$2,133$1,699$1,346$412
21 years$3,097$2,476$1,962$1,542$1,205$342
22 years$2,925$2,311$1,808$1,402$1,080$285
23 years$2,768$2,161$1,669$1,277$969$237
24 years$2,625$2,025$1,544$1,165$871$198
25 years$2,493$1,900$1,430$1,064$784$165
26 years$2,372$1,786$1,326$973$706$137
27 years$2,259$1,681$1,231$890$637$115
28 years$2,155$1,584$1,145$816$575$96
29 years$2,059$1,494$1,065$748$519$80
30 years$1,968$1,411$992$687$469$67
31 years$1,884$1,334$925$631$424$56
32 years$1,806$1,262$863$579$383$46
33 years$1,732$1,195$806$533$347$39
34 years$1,662$1,133$753$490$314$32
35 years$1,597$1,075$704$451$285$27
36 years$1,536$1,020$659$416$258$23
37 years$1,478$969$616$383$234$19
38 years$1,423$921$577$353$212$16
39 years$1,371$875$541$325$192$13
40 years$1,322$833$507$300$174$11
41 years$1,275$793$475$277$158$9
42 years$1,231$755$446$256$143$8
43 years$1,189$719$418$236$130$6
44 years$1,149$686$393$218$118$5
45 years$1,111$654$369$201$107$4
46 years$1,074$624$346$186$97$4
47 years$1,040$595$325$172$88$3
48 years$1,006$568$306$159$80$3
49 years$975$543$287$147$73$2
50 years$944$518$270$136$66$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $967,000, adding $6,968 every year, while hoping to spend $22,945 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: 44/40/16 Blend
59$967,000$967,000$967,000$967,000
60$1,072,821$1,021,570$1,006,582$1,114,787
61$1,157,836$1,047,214$1,015,889$1,170,515
62$1,250,753$1,073,345$1,024,739$1,228,050
63$1,352,354$1,099,964$1,033,092$1,289,921
64$1,463,500$1,127,068$1,040,907$1,356,536
65$1,585,140$1,154,657$1,048,140$1,428,347
66$1,718,316$1,182,726$1,054,744$1,505,852
67$1,864,177$1,211,274$1,060,672$1,589,599
68$2,023,991$1,240,293$1,065,871$1,680,191
69$2,199,150$1,269,779$1,070,290$1,778,291
70$2,391,189$1,299,725$1,073,871$1,884,634
71$2,601,800$1,330,121$1,076,555$2,000,024
72$2,832,845$1,360,958$1,078,281$2,125,350
73$3,086,374$1,392,224$1,078,982$2,261,593
74$3,364,648$1,423,907$1,078,592$2,409,829
75$3,670,154$1,455,991$1,077,037$2,571,249
76$4,005,636$1,488,460$1,074,243$2,747,162
77$4,374,112$1,521,295$1,070,132$2,939,012
78$4,778,909$1,554,477$1,064,619$3,148,390
79$5,223,692$1,587,981$1,057,618$3,377,048
80$5,712,500$1,621,783$1,049,040$3,626,920
81$6,249,780$1,655,855$1,038,787$3,900,134
82$6,840,432$1,690,166$1,026,761$4,199,038
83$7,489,855$1,724,684$1,012,857$4,526,218
84$8,203,999$1,759,372$996,966$4,884,525
85$8,989,416$1,794,190$978,974$5,277,102
86$9,853,326$1,829,096$958,759$5,707,412
87$10,803,686$1,864,042$936,198$6,179,272
88$11,849,260$1,898,977$911,158$6,696,888
89$12,999,705$1,933,848$883,503$7,264,899
90$14,265,664$1,968,596$853,089$7,888,416
91$15,658,860$2,003,155$819,766$8,573,071
92$17,192,211$2,037,458$783,376$9,325,075
93$18,879,954$2,071,430$743,756$10,151,272
94$20,737,772$2,104,992$700,734$11,059,204
95$22,782,946$2,138,059$654,131$12,057,186
96$25,034,522$2,170,539$603,759$13,154,383
97$27,513,481$2,202,333$549,423$14,360,896
98$30,242,945$2,233,337$490,918$15,687,857
99$33,248,391$2,263,436$428,030$17,147,538
100$36,557,895$2,292,512$360,536$18,753,464