Can I retire at age 60 with 958,000?

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 $958,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$79,111$78,406$77,719$77,048$76,392$74,395
2 years$39,164$38,434$37,727$37,042$36,377$34,378
3 years$25,850$25,117$24,412$23,733$23,079$21,141
4 years$19,194$18,464$17,766$17,098$16,460$14,599
5 years$15,202$14,476$13,787$13,133$12,513$10,732
6 years$12,541$11,821$11,142$10,503$9,901$8,204
7 years$10,641$9,927$9,259$8,635$8,052$6,438
8 years$9,217$8,509$7,852$7,244$6,680$5,148
9 years$8,110$7,409$6,763$6,170$5,626$4,175
10 years$7,225$6,531$5,896$5,319$4,793$3,421
11 years$6,501$5,814$5,191$4,629$4,122$2,828
12 years$5,898$5,218$4,607$4,060$3,572$2,352
13 years$5,389$4,716$4,116$3,584$3,115$1,968
14 years$4,952$4,286$3,698$3,182$2,731$1,653
15 years$4,575$3,916$3,339$2,838$2,404$1,393
16 years$4,244$3,593$3,027$2,541$2,125$1,178
17 years$3,953$3,309$2,755$2,283$1,884$998
18 years$3,695$3,057$2,515$2,057$1,675$848
19 years$3,464$2,833$2,302$1,859$1,493$721
20 years$3,256$2,633$2,113$1,684$1,334$615
21 years$3,068$2,453$1,943$1,528$1,194$524
22 years$2,898$2,289$1,791$1,389$1,070$448
23 years$2,743$2,141$1,654$1,265$960$383
24 years$2,600$2,006$1,529$1,154$863$327
25 years$2,470$1,883$1,417$1,054$777$280
26 years$2,350$1,769$1,314$964$700$240
27 years$2,238$1,665$1,220$882$631$206
28 years$2,135$1,569$1,134$808$569$176
29 years$2,039$1,480$1,055$741$514$151
30 years$1,950$1,398$983$680$464$130
31 years$1,867$1,322$916$625$420$111
32 years$1,789$1,250$855$574$380$95
33 years$1,716$1,184$798$528$344$82
34 years$1,647$1,122$746$486$311$70
35 years$1,582$1,065$697$447$282$60
36 years$1,522$1,010$652$412$255$52
37 years$1,464$960$611$379$231$44
38 years$1,410$912$572$350$210$38
39 years$1,358$867$536$322$190$33
40 years$1,310$825$502$297$173$28
41 years$1,264$785$471$274$157$24
42 years$1,220$748$442$253$142$21
43 years$1,178$713$414$234$129$18
44 years$1,138$679$389$216$117$15
45 years$1,100$648$365$199$106$13
46 years$1,064$618$343$184$96$11
47 years$1,030$590$322$170$88$10
48 years$997$563$303$157$80$8
49 years$965$538$285$145$72$7
50 years$935$514$268$134$66$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $958,000, adding $2,077 every year, while hoping to spend $51,936 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: 61/16/23 Blend
59$958,000$958,000$958,000$958,000
60$1,057,858$1,007,084$992,235$1,115,835
61$1,110,500$1,001,172$970,216$1,149,460
62$1,166,771$993,229$945,718$1,180,265
63$1,226,986$983,102$918,604$1,212,738
64$1,291,491$970,626$888,729$1,247,048
65$1,360,665$955,629$855,943$1,283,386
66$1,434,924$937,926$820,089$1,321,964
67$1,514,725$917,323$781,000$1,363,016
68$1,600,569$893,613$738,506$1,406,804
69$1,693,006$866,580$692,425$1,453,620
70$1,792,641$835,990$642,570$1,503,785
71$1,900,138$801,601$588,743$1,557,658
72$2,016,226$763,153$530,739$1,615,639
73$2,141,706$720,373$468,344$1,678,168
74$2,277,460$672,971$401,334$1,745,736
75$2,424,455$620,641$329,473$1,818,887
76$2,583,757$563,060$252,518$1,898,225
77$2,756,536$499,886$170,213$1,984,418
78$2,944,079$430,757$82,292$2,078,209
79$3,147,803$355,292$0$2,180,419
80$3,369,265$273,087$0$2,294,790
81$3,610,177$183,715$0$2,441,234
82$3,872,426$86,729$0$2,600,727
83$4,158,086$0$0$2,774,583
84$4,469,440$0$0$2,967,482
85$4,808,999$0$0$3,194,576
86$5,179,528$0$0$3,442,453
87$5,584,073$0$0$3,713,157
88$6,025,982$0$0$4,008,939
89$6,508,944$0$0$4,332,278
90$7,037,021$0$0$4,685,902
91$7,614,682$0$0$5,072,815
92$8,246,851$0$0$5,496,325
93$8,938,949$0$0$5,960,074
94$9,696,945$0$0$6,468,075
95$10,527,412$0$0$7,024,744
96$11,437,590$0$0$7,634,946
97$12,435,453$0$0$8,304,040
98$13,529,781$0$0$9,037,927
99$14,730,247$0$0$9,843,107
100$16,047,504$0$0$10,726,739