Can I retire at age 60 with 955,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $955,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$78,863$78,161$77,475$76,806$76,153$74,984
2 years$39,041$38,314$37,609$36,926$36,263$35,088
3 years$25,769$25,039$24,336$23,659$23,007$21,863
4 years$19,134$18,406$17,710$17,045$16,409$15,304
5 years$15,154$14,431$13,744$13,092$12,474$11,412
6 years$12,502$11,784$11,107$10,470$9,870$8,852
7 years$10,608$9,896$9,230$8,608$8,027$7,053
8 years$9,188$8,483$7,828$7,221$6,659$5,729
9 years$8,085$7,386$6,742$6,151$5,608$4,722
10 years$7,202$6,510$5,878$5,302$4,778$3,935
11 years$6,481$5,796$5,175$4,614$4,109$3,308
12 years$5,880$5,202$4,592$4,047$3,561$2,801
13 years$5,372$4,701$4,103$3,573$3,105$2,385
14 years$4,937$4,273$3,687$3,172$2,722$2,040
15 years$4,560$3,903$3,329$2,829$2,397$1,753
16 years$4,231$3,581$3,018$2,533$2,118$1,510
17 years$3,941$3,298$2,746$2,276$1,878$1,305
18 years$3,683$3,048$2,507$2,051$1,670$1,131
19 years$3,453$2,825$2,295$1,853$1,489$981
20 years$3,246$2,625$2,106$1,678$1,330$853
21 years$3,059$2,445$1,937$1,523$1,190$743
22 years$2,889$2,282$1,785$1,385$1,067$648
23 years$2,734$2,134$1,649$1,261$957$566
24 years$2,592$2,000$1,525$1,150$861$494
25 years$2,462$1,877$1,412$1,051$774$432
26 years$2,342$1,764$1,310$961$697$378
27 years$2,231$1,660$1,216$879$629$331
28 years$2,128$1,564$1,131$806$567$290
29 years$2,033$1,476$1,052$739$512$254
30 years$1,944$1,394$980$678$463$223
31 years$1,861$1,317$914$623$419$196
32 years$1,783$1,247$852$572$379$172
33 years$1,710$1,181$796$526$343$151
34 years$1,642$1,119$744$484$310$132
35 years$1,577$1,061$695$446$281$116
36 years$1,517$1,007$650$411$255$102
37 years$1,460$957$609$378$231$90
38 years$1,405$909$570$349$209$79
39 years$1,354$865$534$321$190$69
40 years$1,306$823$501$296$172$61
41 years$1,260$783$469$274$156$53
42 years$1,216$746$440$252$142$47
43 years$1,174$710$413$233$129$41
44 years$1,135$677$388$215$117$36
45 years$1,097$646$364$199$106$32
46 years$1,061$616$342$184$96$28
47 years$1,027$588$321$170$87$25
48 years$994$561$302$157$79$22
49 years$962$536$284$145$72$19
50 years$932$512$267$134$65$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $955,000, adding $3,146 every year, while hoping to spend $24,905 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: 52/32/16 Blend
59$955,000$955,000$955,000$955,000
60$1,055,655$1,005,040$990,238$1,105,810
61$1,136,833$1,027,788$996,912$1,163,271
62$1,225,457$1,050,817$1,002,975$1,222,851
63$1,322,259$1,074,112$1,008,380$1,287,100
64$1,428,047$1,097,661$1,013,078$1,356,468
65$1,543,709$1,121,448$1,017,018$1,431,451
66$1,670,224$1,145,455$1,020,144$1,512,595
67$1,808,668$1,169,664$1,022,401$1,600,501
68$1,960,228$1,194,054$1,023,727$1,695,832
69$2,126,211$1,218,602$1,024,061$1,799,319
70$2,308,054$1,243,282$1,023,337$1,911,766
71$2,507,341$1,268,069$1,021,484$2,034,062
72$2,725,817$1,292,932$1,018,432$2,167,183
73$2,965,404$1,317,839$1,014,103$2,312,208
74$3,228,218$1,342,756$1,008,418$2,470,324
75$3,516,590$1,367,644$1,001,293$2,642,842
76$3,833,087$1,392,464$992,641$2,831,203
77$4,180,537$1,417,170$982,370$3,037,000
78$4,562,056$1,441,716$970,384$3,261,985
79$4,981,077$1,466,051$956,583$3,508,091
80$5,441,378$1,490,119$940,860$3,777,449
81$5,947,125$1,513,861$923,106$4,072,409
82$6,502,907$1,537,215$903,204$4,395,557
83$7,113,777$1,560,113$881,036$4,749,749
84$7,785,305$1,582,481$856,473$5,138,131
85$8,523,625$1,604,241$829,383$5,564,169
86$9,335,497$1,625,311$799,630$6,031,687
87$10,228,367$1,645,601$767,067$6,544,897
88$11,210,440$1,665,015$731,543$7,108,446
89$12,290,757$1,683,452$692,901$7,727,452
90$13,479,276$1,700,803$650,976$8,407,561
91$14,786,972$1,716,953$605,594$9,154,992
92$16,225,938$1,731,778$556,575$9,976,604
93$17,809,494$1,745,146$503,731$10,879,956
94$19,552,321$1,756,917$446,865$11,873,380
95$21,470,594$1,766,942$385,771$12,966,062
96$23,582,135$1,775,062$320,235$14,168,126
97$25,906,581$1,781,108$250,031$15,490,730
98$28,465,572$1,784,902$174,926$16,946,177
99$31,282,949$1,786,252$94,676$18,548,025
100$34,384,987$1,784,955$9,025$20,311,219