Can I retire at age 60 with 974,000?

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 $974,000?

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$80,432$79,716$79,017$78,334$77,668$74,646
2 years$39,818$39,076$38,358$37,661$36,985$33,976
3 years$26,282$25,537$24,820$24,130$23,465$20,565
4 years$19,515$18,772$18,063$17,384$16,735$13,966
5 years$15,456$14,718$14,017$13,353$12,722$10,090
6 years$12,751$12,018$11,328$10,678$10,066$7,574
7 years$10,819$10,093$9,414$8,779$8,187$5,833
8 years$9,371$8,651$7,984$7,365$6,792$4,575
9 years$8,246$7,533$6,876$6,273$5,720$3,636
10 years$7,346$6,640$5,995$5,407$4,873$2,918
11 years$6,610$5,911$5,278$4,706$4,191$2,361
12 years$5,997$5,305$4,684$4,128$3,632$1,922
13 years$5,479$4,794$4,185$3,644$3,167$1,572
14 years$5,035$4,358$3,760$3,235$2,776$1,290
15 years$4,651$3,981$3,395$2,885$2,445$1,063
16 years$4,315$3,653$3,078$2,583$2,160$877
17 years$4,019$3,364$2,801$2,321$1,916$726
18 years$3,756$3,108$2,557$2,092$1,703$601
19 years$3,521$2,881$2,341$1,890$1,518$499
20 years$3,310$2,677$2,148$1,712$1,356$415
21 years$3,120$2,494$1,976$1,554$1,214$345
22 years$2,946$2,328$1,821$1,413$1,088$287
23 years$2,788$2,177$1,681$1,286$976$239
24 years$2,644$2,040$1,555$1,173$878$199
25 years$2,511$1,914$1,440$1,072$790$166
26 years$2,389$1,799$1,336$980$711$138
27 years$2,276$1,693$1,240$897$641$115
28 years$2,171$1,595$1,153$822$579$96
29 years$2,073$1,505$1,073$753$523$80
30 years$1,983$1,421$999$691$472$67
31 years$1,898$1,344$932$635$427$56
32 years$1,819$1,271$869$584$386$47
33 years$1,744$1,204$812$537$349$39
34 years$1,674$1,141$758$494$316$33
35 years$1,609$1,082$709$455$287$27
36 years$1,547$1,027$663$419$260$23
37 years$1,489$976$621$386$235$19
38 years$1,433$927$581$356$213$16
39 years$1,381$882$545$328$193$13
40 years$1,332$839$511$302$175$11
41 years$1,285$799$479$279$159$9
42 years$1,240$761$449$257$144$8
43 years$1,198$725$421$238$131$6
44 years$1,157$691$396$219$119$5
45 years$1,119$659$371$203$108$5
46 years$1,082$628$349$187$98$4
47 years$1,047$600$328$173$89$3
48 years$1,014$572$308$160$81$3
49 years$982$547$289$148$73$2
50 years$951$522$272$137$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $974,000, adding $4,657 every year, while hoping to spend $56,216 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: 79/15/6 Blend
59$974,000$974,000$974,000$974,000
60$1,078,152$1,026,530$1,011,433$1,162,429
61$1,128,310$1,017,016$985,502$1,208,802
62$1,181,700$1,005,153$956,819$1,251,806
63$1,238,592$990,764$925,232$1,297,288
64$1,299,283$973,666$890,581$1,345,465
65$1,364,096$953,662$852,702$1,396,580
66$1,433,388$930,545$811,421$1,450,898
67$1,507,547$904,095$766,557$1,508,713
68$1,587,000$874,079$717,921$1,570,349
69$1,672,217$840,252$665,314$1,636,163
70$1,763,712$802,353$608,530$1,706,549
71$1,862,048$760,106$547,353$1,781,941
72$1,967,845$713,219$481,558$1,862,819
73$2,081,783$661,385$410,908$1,949,713
74$2,204,609$604,277$335,158$2,043,206
75$2,337,144$541,551$254,051$2,143,942
76$2,480,289$472,844$167,318$2,252,634
77$2,635,034$397,769$74,679$2,370,064
78$2,802,469$315,921$0$2,497,100
79$2,983,790$226,870$0$2,636,246
80$3,180,313$130,163$0$2,792,210
81$3,393,485$25,321$0$2,961,391
82$3,624,897$0$0$3,145,095
83$3,876,299$0$0$3,359,314
84$4,149,617$0$0$3,596,776
85$4,446,968$0$0$3,855,146
86$4,770,683$0$0$4,136,452
87$5,123,325$0$0$4,442,926
88$5,507,717$0$0$4,777,024
89$5,926,964$0$0$5,141,449
90$6,384,485$0$0$5,539,176
91$6,884,041$0$0$5,973,480
92$7,429,774$0$0$6,447,966
93$8,026,244$0$0$6,966,604
94$8,678,471$0$0$7,533,762
95$9,391,983$0$0$8,154,252
96$10,172,864$0$0$8,833,371
97$11,027,816$0$0$9,576,953
98$11,964,219$0$0$10,391,422
99$12,990,199$0$0$11,283,852
100$14,114,707$0$0$12,262,034