Can I retire at age 60 with 957,000?

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 $957,000?

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$79,028$78,324$77,637$76,967$76,313$75,736
2 years$39,123$38,394$37,688$37,003$36,339$35,758
3 years$25,823$25,091$24,387$23,708$23,055$22,488
4 years$19,174$18,445$17,747$17,081$16,443$15,893
5 years$15,186$14,461$13,773$13,120$12,500$11,969
6 years$12,528$11,808$11,130$10,492$9,891$9,380
7 years$10,630$9,917$9,249$8,626$8,044$7,553
8 years$9,208$8,500$7,844$7,236$6,673$6,203
9 years$8,102$7,401$6,756$6,164$5,620$5,169
10 years$7,217$6,524$5,890$5,313$4,788$4,358
11 years$6,494$5,808$5,186$4,624$4,118$3,707
12 years$5,892$5,213$4,602$4,056$3,569$3,177
13 years$5,383$4,711$4,112$3,581$3,112$2,739
14 years$4,947$4,282$3,694$3,178$2,728$2,373
15 years$4,570$3,912$3,336$2,835$2,402$2,065
16 years$4,240$3,589$3,024$2,538$2,123$1,803
17 years$3,949$3,305$2,752$2,280$1,882$1,579
18 years$3,691$3,054$2,512$2,055$1,674$1,386
19 years$3,460$2,831$2,300$1,857$1,492$1,220
20 years$3,253$2,630$2,111$1,682$1,332$1,076
21 years$3,065$2,450$1,941$1,526$1,192$950
22 years$2,895$2,287$1,789$1,388$1,069$840
23 years$2,740$2,139$1,652$1,264$959$744
24 years$2,598$2,004$1,528$1,153$862$660
25 years$2,467$1,881$1,415$1,053$776$586
26 years$2,347$1,768$1,312$963$699$520
27 years$2,236$1,663$1,219$881$630$463
28 years$2,133$1,568$1,133$807$569$411
29 years$2,037$1,479$1,054$740$513$366
30 years$1,948$1,397$982$679$464$326
31 years$1,865$1,320$916$624$419$291
32 years$1,787$1,249$854$573$379$259
33 years$1,714$1,183$798$527$343$231
34 years$1,645$1,121$745$485$311$206
35 years$1,581$1,063$697$447$282$184
36 years$1,520$1,009$652$411$255$164
37 years$1,463$959$610$379$231$147
38 years$1,408$911$571$349$210$131
39 years$1,357$866$535$322$190$117
40 years$1,308$824$502$297$172$104
41 years$1,262$785$470$274$156$93
42 years$1,218$747$441$253$142$83
43 years$1,177$712$414$234$129$74
44 years$1,137$679$389$216$117$67
45 years$1,099$647$365$199$106$59
46 years$1,063$617$343$184$96$53
47 years$1,029$589$322$170$88$48
48 years$996$562$303$157$79$42
49 years$964$537$284$145$72$38
50 years$934$513$267$134$66$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $957,000, adding $6,112 every year, while hoping to spend $44,556 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: 65/24/11 Blend
59$957,000$957,000$957,000$957,000
60$1,060,919$1,010,198$995,364$1,126,906
61$1,121,725$1,012,290$981,301$1,173,780
62$1,187,240$1,012,992$965,275$1,219,186
63$1,257,898$1,012,187$947,170$1,267,663
64$1,334,174$1,009,755$926,871$1,319,509
65$1,416,591$1,005,564$904,252$1,375,052
66$1,505,724$999,477$879,185$1,434,654
67$1,602,204$991,348$851,535$1,498,715
68$1,706,727$981,023$821,159$1,567,679
69$1,820,056$968,335$787,911$1,642,034
70$1,943,031$953,113$751,635$1,722,321
71$2,076,574$935,170$712,169$1,809,136
72$2,221,703$914,311$669,345$1,903,139
73$2,379,535$890,331$622,986$2,005,057
74$2,551,299$863,008$572,907$2,115,697
75$2,738,348$832,112$518,916$2,235,946
76$2,942,170$797,396$460,811$2,366,787
77$3,164,405$758,602$398,381$2,509,304
78$3,406,854$715,454$331,407$2,664,694
79$3,671,504$667,662$259,660$2,834,281
80$3,960,538$614,918$182,899$3,019,524
81$4,276,361$556,897$100,875$3,222,036
82$4,621,622$493,257$13,326$3,443,598
83$4,999,235$423,634$0$3,686,176
84$5,412,410$347,645$0$3,961,342
85$5,864,682$264,885$0$4,264,372
86$6,359,941$174,927$0$4,596,378
87$6,902,475$77,318$0$4,960,317
88$7,497,002$0$0$5,359,450
89$8,148,721$0$0$5,804,878
90$8,863,356$0$0$6,315,762
91$9,647,214$0$0$6,876,197
92$10,507,239$0$0$7,491,159
93$11,451,080$0$0$8,166,124
94$12,487,165$0$0$8,907,129
95$13,624,774$0$0$9,720,819
96$14,874,133$0$0$10,614,519
97$16,246,505$0$0$11,596,295
98$17,754,299$0$0$12,675,033
99$19,411,182$0$0$13,860,524
100$21,232,215$0$0$15,163,554