Can I retire at age 60 with 973,000?

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 $973,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$80,349$79,634$78,935$78,254$77,588$76,746
2 years$39,777$39,036$38,318$37,622$36,947$36,099
3 years$26,255$25,511$24,794$24,105$23,441$22,613
4 years$19,495$18,753$18,044$17,366$16,718$15,917
5 years$15,440$14,703$14,003$13,339$12,709$11,937
6 years$12,737$12,006$11,316$10,667$10,056$9,315
7 years$10,808$10,082$9,404$8,770$8,178$7,468
8 years$9,361$8,642$7,975$7,357$6,785$6,104
9 years$8,237$7,525$6,869$6,267$5,714$5,064
10 years$7,338$6,633$5,989$5,402$4,868$4,248
11 years$6,603$5,905$5,272$4,701$4,187$3,596
12 years$5,991$5,300$4,679$4,124$3,628$3,066
13 years$5,473$4,789$4,180$3,641$3,164$2,630
14 years$5,030$4,353$3,756$3,232$2,773$2,266
15 years$4,646$3,977$3,391$2,882$2,442$1,961
16 years$4,311$3,649$3,075$2,581$2,158$1,703
17 years$4,015$3,360$2,798$2,319$1,914$1,483
18 years$3,752$3,105$2,554$2,090$1,702$1,295
19 years$3,518$2,878$2,338$1,888$1,517$1,133
20 years$3,307$2,674$2,146$1,710$1,355$993
21 years$3,116$2,491$1,974$1,552$1,212$872
22 years$2,943$2,325$1,819$1,411$1,087$767
23 years$2,786$2,175$1,680$1,285$975$675
24 years$2,641$2,038$1,553$1,172$877$595
25 years$2,509$1,912$1,439$1,070$789$525
26 years$2,386$1,797$1,334$979$711$463
27 years$2,273$1,691$1,239$896$641$409
28 years$2,169$1,594$1,152$821$578$362
29 years$2,071$1,503$1,072$753$522$320
30 years$1,981$1,420$998$691$472$283
31 years$1,896$1,342$931$634$426$251
32 years$1,817$1,270$868$583$386$222
33 years$1,743$1,203$811$536$349$197
34 years$1,673$1,140$758$493$316$174
35 years$1,607$1,081$708$454$286$154
36 years$1,545$1,026$663$418$259$137
37 years$1,487$975$620$385$235$121
38 years$1,432$926$581$355$213$108
39 years$1,380$881$544$328$193$95
40 years$1,330$838$510$302$175$85
41 years$1,283$798$478$279$159$75
42 years$1,239$760$449$257$144$67
43 years$1,196$724$421$237$131$59
44 years$1,156$690$395$219$119$52
45 years$1,118$658$371$202$108$47
46 years$1,081$628$348$187$98$41
47 years$1,046$599$327$173$89$37
48 years$1,013$572$308$160$81$33
49 years$981$546$289$148$73$29
50 years$950$522$272$136$67$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $973,000, adding $3,849 every year, while hoping to spend $54,362 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: 53/22/25 Blend
59$973,000$973,000$973,000$973,000
60$1,076,216$1,024,647$1,009,566$1,125,599
61$1,128,150$1,017,014$985,545$1,152,489
62$1,183,558$1,007,185$958,898$1,175,831
63$1,242,739$994,995$929,479$1,200,119
64$1,306,018$980,269$897,136$1,225,465
65$1,373,751$962,822$861,710$1,251,992
66$1,446,331$942,457$823,034$1,279,841
67$1,524,186$918,967$780,936$1,309,170
68$1,607,788$892,131$735,232$1,340,158
69$1,697,653$861,717$685,733$1,373,002
70$1,794,350$827,477$632,241$1,407,927
71$1,898,501$789,151$574,549$1,445,182
72$2,010,791$746,462$512,439$1,485,049
73$2,131,972$699,119$445,686$1,527,840
74$2,262,869$646,813$374,053$1,573,906
75$2,404,392$589,216$297,294$1,623,639
76$2,557,537$525,985$215,150$1,677,475
77$2,723,402$456,754$127,354$1,735,901
78$2,903,192$381,139$33,624$1,799,460
79$3,098,235$298,731$0$1,868,758
80$3,309,987$209,102$0$1,962,181
81$3,540,054$111,795$0$2,073,490
82$3,790,199$6,334$0$2,194,624
83$4,062,365$0$0$2,326,600
84$4,358,687$0$0$2,496,638
85$4,681,516$0$0$2,683,642
86$5,033,438$0$0$2,887,590
87$5,417,299$0$0$3,110,143
88$5,836,234$0$0$3,353,129
89$6,293,691$0$0$3,618,560
90$6,793,466$0$0$3,908,653
91$7,339,740$0$0$4,225,847
92$7,937,114$0$0$4,572,828
93$8,590,655$0$0$4,952,553
94$9,305,941$0$0$5,368,278
95$10,089,117$0$0$5,823,591
96$10,946,947$0$0$6,322,440
97$11,886,880$0$0$6,869,173
98$12,917,122$0$0$7,468,582
99$14,046,709$0$0$8,125,941
100$15,285,593$0$0$8,847,061