Can I retire at age 60 with 957,000?

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 $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%14.7%
1 years$79,028$78,324$77,637$76,967$76,313$74,833
2 years$39,123$38,394$37,688$37,003$36,339$34,855
3 years$25,823$25,091$24,387$23,708$23,055$21,612
4 years$19,174$18,445$17,747$17,081$16,443$15,052
5 years$15,186$14,461$13,773$13,120$12,500$11,165
6 years$12,528$11,808$11,130$10,492$9,891$8,614
7 years$10,630$9,917$9,249$8,626$8,044$6,825
8 years$9,208$8,500$7,844$7,236$6,673$5,512
9 years$8,102$7,401$6,756$6,164$5,620$4,516
10 years$7,217$6,524$5,890$5,313$4,788$3,740
11 years$6,494$5,808$5,186$4,624$4,118$3,125
12 years$5,892$5,213$4,602$4,056$3,569$2,628
13 years$5,383$4,711$4,112$3,581$3,112$2,223
14 years$4,947$4,282$3,694$3,178$2,728$1,890
15 years$4,570$3,912$3,336$2,835$2,402$1,612
16 years$4,240$3,589$3,024$2,538$2,123$1,379
17 years$3,949$3,305$2,752$2,280$1,882$1,184
18 years$3,691$3,054$2,512$2,055$1,674$1,018
19 years$3,460$2,831$2,300$1,857$1,492$877
20 years$3,253$2,630$2,111$1,682$1,332$757
21 years$3,065$2,450$1,941$1,526$1,192$654
22 years$2,895$2,287$1,789$1,388$1,069$566
23 years$2,740$2,139$1,652$1,264$959$490
24 years$2,598$2,004$1,528$1,153$862$425
25 years$2,467$1,881$1,415$1,053$776$369
26 years$2,347$1,768$1,312$963$699$320
27 years$2,236$1,663$1,219$881$630$278
28 years$2,133$1,568$1,133$807$569$242
29 years$2,037$1,479$1,054$740$513$210
30 years$1,948$1,397$982$679$464$183
31 years$1,865$1,320$916$624$419$159
32 years$1,787$1,249$854$573$379$138
33 years$1,714$1,183$798$527$343$120
34 years$1,645$1,121$745$485$311$105
35 years$1,581$1,063$697$447$282$91
36 years$1,520$1,009$652$411$255$79
37 years$1,463$959$610$379$231$69
38 years$1,408$911$571$349$210$60
39 years$1,357$866$535$322$190$53
40 years$1,308$824$502$297$172$46
41 years$1,262$785$470$274$156$40
42 years$1,218$747$441$253$142$35
43 years$1,177$712$414$234$129$30
44 years$1,137$679$389$216$117$26
45 years$1,099$647$365$199$106$23
46 years$1,063$617$343$184$96$20
47 years$1,029$589$322$170$88$17
48 years$996$562$303$157$79$15
49 years$964$537$284$145$72$13
50 years$934$513$267$134$66$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $957,000, adding $4,154 every year, while hoping to spend $20,267 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: 26/46/28 Blend
59$957,000$957,000$957,000$957,000
60$1,058,899$1,008,178$993,344$1,077,085
61$1,145,343$1,036,015$1,005,057$1,120,186
62$1,239,924$1,064,536$1,016,484$1,164,394
63$1,343,453$1,093,755$1,027,592$1,211,412
64$1,456,818$1,123,682$1,038,350$1,261,490
65$1,581,002$1,154,330$1,048,722$1,314,905
66$1,717,083$1,185,711$1,058,674$1,371,962
67$1,866,251$1,217,837$1,068,165$1,432,997
68$2,029,816$1,250,719$1,077,156$1,498,378
69$2,209,221$1,284,367$1,085,604$1,568,512
70$2,406,055$1,318,794$1,093,465$1,643,847
71$2,622,067$1,354,010$1,100,691$1,724,875
72$2,859,187$1,390,026$1,107,233$1,812,141
73$3,119,537$1,426,850$1,113,039$1,906,242
74$3,405,458$1,464,494$1,118,053$2,007,837
75$3,719,526$1,502,965$1,122,219$2,117,653
76$4,064,580$1,542,273$1,125,477$2,236,489
77$4,443,749$1,582,426$1,127,761$2,365,228
78$4,860,476$1,623,430$1,129,006$2,504,841
79$5,318,559$1,665,293$1,129,143$2,656,398
80$5,822,180$1,708,019$1,128,096$2,821,079
81$6,375,945$1,751,615$1,125,790$3,000,185
82$6,984,931$1,796,084$1,122,144$3,195,148
83$7,654,732$1,841,429$1,117,073$3,407,549
84$8,391,507$1,887,653$1,110,488$3,639,127
85$9,202,048$1,934,754$1,102,297$3,891,803
86$10,093,834$1,982,734$1,092,401$4,167,689
87$11,075,107$2,031,591$1,080,698$4,469,118
88$12,154,949$2,081,319$1,067,082$4,798,659
89$13,343,365$2,131,915$1,051,441$5,159,145
90$14,651,381$2,183,372$1,033,657$5,553,695
91$16,091,145$2,235,680$1,013,607$5,985,753
92$17,676,042$2,288,829$991,164$6,459,110
93$19,420,823$2,342,806$966,192$6,977,948
94$21,341,738$2,397,595$938,551$7,546,875
95$23,456,697$2,453,178$908,094$8,170,971
96$25,785,431$2,509,535$874,666$8,855,835
97$28,349,685$2,566,643$838,108$9,607,640
98$31,173,419$2,624,474$798,250$10,433,189
99$34,283,033$2,682,999$754,917$11,339,982
100$37,707,621$2,742,184$707,925$12,336,285