Can I retire at age 60 with 953,000?

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 $953,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$78,698$77,997$77,313$76,645$75,994$73,385
2 years$38,959$38,234$37,531$36,849$36,187$33,586
3 years$25,715$24,986$24,285$23,609$22,959$20,446
4 years$19,094$18,367$17,673$17,009$16,374$13,969
5 years$15,122$14,400$13,715$13,065$12,448$10,157
6 years$12,476$11,759$11,084$10,448$9,849$7,675
7 years$10,586$9,875$9,211$8,590$8,010$5,951
8 years$9,169$8,465$7,811$7,206$6,645$4,701
9 years$8,068$7,370$6,728$6,138$5,596$3,763
10 years$7,187$6,496$5,866$5,291$4,768$3,044
11 years$6,467$5,783$5,164$4,605$4,101$2,482
12 years$5,868$5,191$4,583$4,039$3,554$2,036
13 years$5,361$4,691$4,095$3,566$3,099$1,679
14 years$4,927$4,264$3,679$3,165$2,716$1,390
15 years$4,551$3,895$3,322$2,823$2,392$1,155
16 years$4,222$3,574$3,012$2,528$2,114$962
17 years$3,933$3,291$2,740$2,271$1,874$803
18 years$3,675$3,041$2,502$2,047$1,667$671
19 years$3,446$2,819$2,290$1,849$1,485$562
20 years$3,239$2,619$2,102$1,675$1,327$471
21 years$3,052$2,440$1,933$1,520$1,187$396
22 years$2,883$2,277$1,782$1,382$1,064$332
23 years$2,728$2,130$1,645$1,259$955$279
24 years$2,587$1,996$1,521$1,148$859$235
25 years$2,457$1,873$1,409$1,048$773$198
26 years$2,337$1,760$1,307$959$696$166
27 years$2,227$1,657$1,214$877$628$140
28 years$2,124$1,561$1,128$804$566$118
29 years$2,029$1,473$1,050$737$511$100
30 years$1,940$1,391$978$677$462$84
31 years$1,857$1,315$912$621$418$71
32 years$1,779$1,244$851$571$378$60
33 years$1,707$1,178$794$525$342$50
34 years$1,638$1,117$742$483$310$42
35 years$1,574$1,059$694$445$280$36
36 years$1,514$1,005$649$410$254$30
37 years$1,456$955$607$377$230$25
38 years$1,402$907$569$348$209$21
39 years$1,351$863$533$321$189$18
40 years$1,303$821$500$296$172$15
41 years$1,257$781$468$273$156$13
42 years$1,213$744$439$252$141$11
43 years$1,172$709$412$233$128$9
44 years$1,132$676$387$215$116$8
45 years$1,095$644$363$198$106$7
46 years$1,059$615$341$183$96$6
47 years$1,024$587$321$169$87$5
48 years$992$560$301$156$79$4
49 years$960$535$283$145$72$3
50 years$930$511$266$134$65$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $953,000, adding $3,997 every year, while hoping to spend $22,466 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: 36/35/29 Blend
59$953,000$953,000$953,000$953,000
60$1,054,329$1,003,820$989,048$1,082,996
61$1,137,967$1,029,103$998,278$1,130,008
62$1,229,383$1,054,873$1,007,064$1,178,417
63$1,329,347$1,081,128$1,015,367$1,230,253
64$1,438,705$1,107,869$1,023,147$1,285,838
65$1,558,393$1,135,094$1,030,362$1,345,531
66$1,689,435$1,162,800$1,036,966$1,409,724
67$1,832,965$1,190,985$1,042,912$1,478,851
68$1,990,228$1,219,644$1,048,150$1,553,390
69$2,162,597$1,248,771$1,052,628$1,633,868
70$2,351,581$1,278,361$1,056,291$1,720,865
71$2,558,847$1,308,405$1,059,081$1,815,022
72$2,786,227$1,338,895$1,060,938$1,917,044
73$3,035,741$1,369,820$1,061,798$2,027,711
74$3,309,613$1,401,167$1,061,595$2,147,879
75$3,610,293$1,432,924$1,060,257$2,278,495
76$3,940,480$1,465,074$1,057,713$2,420,602
77$4,303,147$1,497,601$1,053,885$2,575,350
78$4,701,569$1,530,484$1,048,691$2,744,008
79$5,139,355$1,563,704$1,042,048$2,927,972
80$5,620,479$1,597,235$1,033,866$3,128,786
81$6,149,320$1,631,052$1,024,053$3,348,149
82$6,730,703$1,665,125$1,012,511$3,587,935
83$7,369,943$1,699,425$999,138$3,850,211
84$8,072,895$1,733,915$983,827$4,137,256
85$8,846,013$1,768,558$966,467$4,451,581
86$9,696,403$1,803,314$946,941$4,795,956
87$10,631,897$1,838,139$925,125$5,173,437
88$11,661,126$1,872,983$900,892$5,587,390
89$12,793,597$1,907,794$874,108$6,041,528
90$14,039,785$1,942,518$844,631$6,539,944
91$15,411,233$1,977,092$812,317$7,087,151
92$16,920,660$2,011,450$777,011$7,688,125
93$18,582,080$2,045,523$738,553$8,348,352
94$20,410,932$2,079,234$696,775$9,073,879
95$22,424,233$2,112,502$651,502$9,871,374
96$24,640,728$2,145,238$602,551$10,748,188
97$27,081,077$2,177,349$549,731$11,712,423
98$29,768,041$2,208,734$492,841$12,773,014
99$32,726,704$2,239,285$431,674$13,939,810
100$35,984,703$2,268,885$366,011$15,223,666