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%16.6%
1 years$80,515$79,797$79,098$78,415$77,748$75,654
2 years$39,859$39,116$38,397$37,699$37,023$34,928
3 years$26,309$25,563$24,845$24,154$23,489$21,459
4 years$19,535$18,791$18,081$17,402$16,752$14,803
5 years$15,472$14,733$14,032$13,366$12,735$10,871
6 years$12,764$12,030$11,340$10,689$10,077$8,300
7 years$10,830$10,103$9,423$8,788$8,195$6,506
8 years$9,381$8,660$7,992$7,372$6,799$5,197
9 years$8,254$7,540$6,883$6,279$5,725$4,209
10 years$7,353$6,646$6,001$5,413$4,878$3,445
11 years$6,617$5,917$5,283$4,711$4,196$2,844
12 years$6,003$5,311$4,689$4,132$3,636$2,363
13 years$5,485$4,799$4,189$3,648$3,170$1,974
14 years$5,040$4,362$3,764$3,238$2,779$1,656
15 years$4,656$3,985$3,398$2,888$2,447$1,394
16 years$4,320$3,656$3,081$2,586$2,163$1,177
17 years$4,023$3,367$2,804$2,323$1,918$996
18 years$3,760$3,112$2,559$2,094$1,705$845
19 years$3,525$2,884$2,343$1,892$1,520$717
20 years$3,314$2,680$2,150$1,714$1,357$610
21 years$3,123$2,496$1,978$1,555$1,215$520
22 years$2,949$2,330$1,823$1,414$1,089$443
23 years$2,791$2,179$1,683$1,288$977$378
24 years$2,647$2,042$1,557$1,174$879$323
25 years$2,514$1,916$1,442$1,073$791$276
26 years$2,391$1,801$1,337$981$712$236
27 years$2,278$1,695$1,242$898$642$202
28 years$2,173$1,597$1,154$822$579$173
29 years$2,076$1,507$1,074$754$523$148
30 years$1,985$1,423$1,000$692$473$127
31 years$1,900$1,345$933$636$427$108
32 years$1,820$1,273$870$584$387$93
33 years$1,746$1,205$813$537$350$80
34 years$1,676$1,142$759$494$317$68
35 years$1,610$1,083$710$455$287$58
36 years$1,549$1,028$664$419$260$50
37 years$1,490$977$622$386$236$43
38 years$1,435$928$582$356$214$37
39 years$1,383$883$545$328$194$32
40 years$1,333$840$511$303$176$27
41 years$1,286$799$479$279$159$23
42 years$1,241$761$450$258$145$20
43 years$1,199$725$422$238$131$17
44 years$1,158$691$396$220$119$15
45 years$1,120$659$372$203$108$13
46 years$1,083$629$349$187$98$11
47 years$1,048$600$328$173$89$9
48 years$1,015$573$308$160$81$8
49 years$983$547$290$148$74$7
50 years$952$523$272$137$67$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $975,000, adding $2,776 every year, while hoping to spend $45,703 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: 38/50/12 Blend
59$975,000$975,000$975,000$975,000
60$1,077,313$1,025,638$1,010,526$1,114,216
61$1,138,572$1,027,267$995,751$1,142,355
62$1,204,547$1,027,444$978,949$1,168,094
63$1,275,671$1,026,049$960,005$1,194,904
64$1,352,420$1,022,956$938,795$1,222,900
65$1,435,317$1,018,031$915,195$1,252,217
66$1,524,935$1,011,130$889,069$1,283,002
67$1,621,905$1,002,102$860,280$1,315,424
68$1,726,921$990,787$828,681$1,349,671
69$1,840,745$977,014$794,121$1,385,954
70$1,964,217$960,603$756,439$1,424,511
71$2,098,258$941,363$715,470$1,465,605
72$2,243,882$919,092$671,040$1,509,536
73$2,402,205$893,575$622,968$1,556,634
74$2,574,455$864,585$571,062$1,607,273
75$2,761,981$831,882$515,125$1,661,866
76$2,966,271$795,212$454,949$1,720,877
77$3,188,960$754,306$390,319$1,784,823
78$3,431,846$708,879$321,007$1,854,282
79$3,696,912$658,632$246,778$1,929,895
80$3,986,338$603,246$167,386$2,012,378
81$4,302,524$542,384$82,573$2,102,529
82$4,648,112$475,692$0$2,201,235
83$5,026,013$402,794$0$2,310,500
84$5,439,428$323,293$0$2,441,752
85$5,891,887$236,771$0$2,585,665
86$6,387,271$142,785$0$2,743,634
87$6,929,859$40,868$0$2,917,203
88$7,524,360$0$0$3,108,087
89$8,175,961$0$0$3,356,409
90$8,890,375$0$0$3,653,456
91$9,673,895$0$0$3,979,374
92$10,533,449$0$0$4,337,063
93$11,476,671$0$0$4,729,718
94$12,511,970$0$0$5,160,858
95$13,648,606$0$0$5,634,358
96$14,896,783$0$0$6,154,489
97$16,267,738$0$0$6,725,954
98$17,773,852$0$0$7,353,935
99$19,428,764$0$0$8,044,141
100$21,247,500$0$0$8,802,862