Can I retire at age 60 with 956,000?

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 $956,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$78,946$78,242$77,556$76,887$76,233$74,269
2 years$39,082$38,354$37,649$36,965$36,301$34,336
3 years$25,796$25,065$24,361$23,684$23,031$21,126
4 years$19,154$18,425$17,729$17,063$16,426$14,595
5 years$15,170$14,446$13,758$13,106$12,487$10,736
6 years$12,515$11,796$11,119$10,481$9,880$8,210
7 years$10,619$9,906$9,240$8,617$8,035$6,447
8 years$9,198$8,491$7,836$7,228$6,666$5,158
9 years$8,093$7,393$6,749$6,157$5,614$4,185
10 years$7,210$6,517$5,884$5,307$4,783$3,432
11 years$6,488$5,802$5,180$4,619$4,114$2,839
12 years$5,886$5,207$4,597$4,052$3,565$2,363
13 years$5,378$4,706$4,107$3,577$3,109$1,978
14 years$4,942$4,277$3,691$3,175$2,725$1,663
15 years$4,565$3,908$3,332$2,832$2,399$1,403
16 years$4,235$3,585$3,021$2,535$2,121$1,187
17 years$3,945$3,302$2,749$2,278$1,880$1,007
18 years$3,687$3,051$2,509$2,053$1,672$855
19 years$3,456$2,828$2,297$1,855$1,490$728
20 years$3,249$2,628$2,108$1,680$1,331$621
21 years$3,062$2,447$1,939$1,525$1,191$530
22 years$2,892$2,285$1,787$1,386$1,068$453
23 years$2,737$2,137$1,650$1,263$958$388
24 years$2,595$2,002$1,526$1,152$861$332
25 years$2,465$1,879$1,414$1,052$775$284
26 years$2,345$1,766$1,311$962$698$244
27 years$2,234$1,662$1,217$880$630$209
28 years$2,131$1,566$1,132$806$568$179
29 years$2,035$1,477$1,053$740$513$154
30 years$1,946$1,395$981$679$463$132
31 years$1,863$1,319$915$623$419$113
32 years$1,785$1,248$853$573$379$97
33 years$1,712$1,182$797$527$343$84
34 years$1,644$1,120$744$485$311$72
35 years$1,579$1,062$696$446$281$62
36 years$1,518$1,008$651$411$255$53
37 years$1,461$958$609$379$231$46
38 years$1,407$910$571$349$209$39
39 years$1,356$865$535$322$190$34
40 years$1,307$823$501$297$172$29
41 years$1,261$784$470$274$156$25
42 years$1,217$746$441$253$142$21
43 years$1,175$711$414$233$129$18
44 years$1,136$678$388$215$117$16
45 years$1,098$646$365$199$106$14
46 years$1,062$617$342$184$96$12
47 years$1,028$589$322$170$87$10
48 years$995$562$302$157$79$9
49 years$963$537$284$145$72$7
50 years$933$513$267$134$65$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $956,000, adding $2,195 every year, while hoping to spend $20,220 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: 34/37/29 Blend
59$956,000$956,000$956,000$956,000
60$1,055,776$1,005,108$990,290$1,082,354
61$1,141,951$1,032,845$1,001,951$1,130,389
62$1,236,239$1,061,262$1,013,325$1,180,198
63$1,339,445$1,090,373$1,024,380$1,233,523
64$1,452,456$1,120,190$1,035,085$1,290,693
65$1,576,251$1,150,724$1,045,405$1,352,067
66$1,711,906$1,181,987$1,055,304$1,418,043
67$1,860,607$1,213,990$1,064,742$1,489,058
68$2,023,658$1,246,745$1,073,681$1,565,593
69$2,202,499$1,280,263$1,082,077$1,648,180
70$2,398,713$1,314,555$1,089,886$1,737,402
71$2,614,045$1,349,632$1,097,060$1,833,903
72$2,850,417$1,385,503$1,103,551$1,938,392
73$3,109,945$1,422,179$1,109,306$2,051,652
74$3,394,962$1,459,668$1,114,270$2,174,542
75$3,708,037$1,497,980$1,118,387$2,308,012
76$4,051,999$1,537,124$1,121,595$2,453,107
77$4,429,966$1,577,106$1,123,831$2,610,980
78$4,845,373$1,617,934$1,125,030$2,782,900
79$5,302,002$1,659,615$1,125,120$2,970,267
80$5,804,024$1,702,154$1,124,029$3,174,622
81$6,356,031$1,745,555$1,121,680$3,397,665
82$6,963,082$1,789,823$1,117,992$3,641,270
83$7,630,752$1,834,960$1,112,881$3,907,502
84$8,365,184$1,880,969$1,106,258$4,198,635
85$9,173,145$1,927,848$1,098,030$4,517,177
86$10,062,091$1,975,598$1,088,099$4,865,894
87$11,040,238$2,024,217$1,076,365$5,247,831
88$12,116,639$2,073,700$1,062,719$5,666,348
89$13,301,267$2,124,042$1,047,051$6,125,145
90$14,605,112$2,175,235$1,029,243$6,628,303
91$16,040,283$2,227,272$1,009,172$7,180,319
92$17,620,123$2,280,139$986,711$7,786,148
93$19,359,335$2,333,825$961,725$8,451,255
94$21,274,118$2,388,313$934,073$9,181,661
95$23,382,322$2,443,585$903,609$9,984,004
96$25,703,619$2,499,621$870,180$10,865,598
97$28,259,681$2,556,395$833,624$11,834,509
98$31,074,391$2,613,882$793,773$12,899,622
99$34,174,068$2,672,050$750,453$14,070,736
100$37,587,708$2,730,866$703,479$15,358,646