Can I retire at age 60 with 975,000?

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 $975,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$80,515$79,797$79,098$78,415$77,748$77,161
2 years$39,859$39,116$38,397$37,699$37,023$36,431
3 years$26,309$25,563$24,845$24,154$23,489$22,911
4 years$19,535$18,791$18,081$17,402$16,752$16,192
5 years$15,472$14,733$14,032$13,366$12,735$12,194
6 years$12,764$12,030$11,340$10,689$10,077$9,556
7 years$10,830$10,103$9,423$8,788$8,195$7,695
8 years$9,381$8,660$7,992$7,372$6,799$6,319
9 years$8,254$7,540$6,883$6,279$5,725$5,267
10 years$7,353$6,646$6,001$5,413$4,878$4,440
11 years$6,617$5,917$5,283$4,711$4,196$3,777
12 years$6,003$5,311$4,689$4,132$3,636$3,236
13 years$5,485$4,799$4,189$3,648$3,170$2,790
14 years$5,040$4,362$3,764$3,238$2,779$2,417
15 years$4,656$3,985$3,398$2,888$2,447$2,103
16 years$4,320$3,656$3,081$2,586$2,163$1,837
17 years$4,023$3,367$2,804$2,323$1,918$1,608
18 years$3,760$3,112$2,559$2,094$1,705$1,412
19 years$3,525$2,884$2,343$1,892$1,520$1,243
20 years$3,314$2,680$2,150$1,714$1,357$1,096
21 years$3,123$2,496$1,978$1,555$1,215$968
22 years$2,949$2,330$1,823$1,414$1,089$856
23 years$2,791$2,179$1,683$1,288$977$758
24 years$2,647$2,042$1,557$1,174$879$672
25 years$2,514$1,916$1,442$1,073$791$597
26 years$2,391$1,801$1,337$981$712$530
27 years$2,278$1,695$1,242$898$642$471
28 years$2,173$1,597$1,154$822$579$419
29 years$2,076$1,507$1,074$754$523$373
30 years$1,985$1,423$1,000$692$473$332
31 years$1,900$1,345$933$636$427$296
32 years$1,820$1,273$870$584$387$264
33 years$1,746$1,205$813$537$350$235
34 years$1,676$1,142$759$494$317$210
35 years$1,610$1,083$710$455$287$187
36 years$1,549$1,028$664$419$260$167
37 years$1,490$977$622$386$236$149
38 years$1,435$928$582$356$214$133
39 years$1,383$883$545$328$194$119
40 years$1,333$840$511$303$176$106
41 years$1,286$799$479$279$159$95
42 years$1,241$761$450$258$145$85
43 years$1,199$725$422$238$131$76
44 years$1,158$691$396$220$119$68
45 years$1,120$659$372$203$108$61
46 years$1,083$629$349$187$98$54
47 years$1,048$600$328$173$89$48
48 years$1,015$573$308$160$81$43
49 years$983$547$290$148$74$39
50 years$952$523$272$137$67$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $975,000, adding $2,845 every year, while hoping to spend $59,102 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: 53/20/27 Blend
59$975,000$975,000$975,000$975,000
60$1,077,385$1,025,710$1,010,597$1,126,239
61$1,124,394$1,013,085$981,568$1,147,745
62$1,174,217$997,862$949,586$1,164,871
63$1,227,079$979,849$914,489$1,182,321
64$1,283,225$958,845$876,108$1,200,152
65$1,342,924$934,639$834,268$1,218,424
66$1,406,471$907,004$788,784$1,237,212
67$1,474,185$875,702$739,463$1,256,600
68$1,546,421$840,480$686,103$1,276,685
69$1,623,563$801,071$628,495$1,297,577
70$1,706,035$757,192$566,419$1,319,403
71$1,794,301$708,545$499,644$1,342,307
72$1,888,869$654,813$427,931$1,366,453
73$1,990,297$595,662$351,030$1,392,027
74$2,099,196$530,738$268,678$1,419,240
75$2,216,238$459,669$180,603$1,448,328
76$2,342,161$382,059$86,520$1,479,562
77$2,477,774$297,492$0$1,513,243
78$2,623,966$205,528$0$1,553,711
79$2,781,713$105,702$0$1,624,209
80$2,952,089$0$0$1,700,309
81$3,136,272$0$0$1,783,135
82$3,335,559$0$0$1,897,999
83$3,551,373$0$0$2,022,467
84$3,785,282$0$0$2,157,454
85$4,039,007$0$0$2,303,963
86$4,314,442$0$0$2,463,099
87$4,613,670$0$0$2,636,077
88$4,938,983$0$0$2,824,234
89$5,292,902$0$0$3,029,040
90$5,678,199$0$0$3,252,114
91$6,097,928$0$0$3,495,235
92$6,555,447$0$0$3,760,365
93$7,054,452$0$0$4,049,658
94$7,599,011$0$0$4,365,491
95$8,193,603$0$0$4,710,475
96$8,843,157$0$0$5,087,489
97$9,553,101$0$0$5,499,699
98$10,329,409$0$0$5,950,594
99$11,178,660$0$0$6,444,012
100$12,108,098$0$0$6,984,182