Can I retire at age 60 with 958,000?

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 $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%
1 years$79,111$78,406$77,719$77,048$76,392$74,515
2 years$39,164$38,434$37,727$37,042$36,377$34,498
3 years$25,850$25,117$24,412$23,733$23,079$21,256
4 years$19,194$18,464$17,766$17,098$16,460$14,707
5 years$15,202$14,476$13,787$13,133$12,513$10,835
6 years$12,541$11,821$11,142$10,503$9,901$8,300
7 years$10,641$9,927$9,259$8,635$8,052$6,528
8 years$9,217$8,509$7,852$7,244$6,680$5,233
9 years$8,110$7,409$6,763$6,170$5,626$4,254
10 years$7,225$6,531$5,896$5,319$4,793$3,495
11 years$6,501$5,814$5,191$4,629$4,122$2,896
12 years$5,898$5,218$4,607$4,060$3,572$2,415
13 years$5,389$4,716$4,116$3,584$3,115$2,026
14 years$4,952$4,286$3,698$3,182$2,731$1,706
15 years$4,575$3,916$3,339$2,838$2,404$1,442
16 years$4,244$3,593$3,027$2,541$2,125$1,223
17 years$3,953$3,309$2,755$2,283$1,884$1,040
18 years$3,695$3,057$2,515$2,057$1,675$886
19 years$3,464$2,833$2,302$1,859$1,493$756
20 years$3,256$2,633$2,113$1,684$1,334$646
21 years$3,068$2,453$1,943$1,528$1,194$553
22 years$2,898$2,289$1,791$1,389$1,070$473
23 years$2,743$2,141$1,654$1,265$960$406
24 years$2,600$2,006$1,529$1,154$863$348
25 years$2,470$1,883$1,417$1,054$777$299
26 years$2,350$1,769$1,314$964$700$257
27 years$2,238$1,665$1,220$882$631$221
28 years$2,135$1,569$1,134$808$569$190
29 years$2,039$1,480$1,055$741$514$163
30 years$1,950$1,398$983$680$464$141
31 years$1,867$1,322$916$625$420$121
32 years$1,789$1,250$855$574$380$104
33 years$1,716$1,184$798$528$344$90
34 years$1,647$1,122$746$486$311$77
35 years$1,582$1,065$697$447$282$66
36 years$1,522$1,010$652$412$255$57
37 years$1,464$960$611$379$231$49
38 years$1,410$912$572$350$210$43
39 years$1,358$867$536$322$190$37
40 years$1,310$825$502$297$173$32
41 years$1,264$785$471$274$157$27
42 years$1,220$748$442$253$142$23
43 years$1,178$713$414$234$129$20
44 years$1,138$679$389$216$117$17
45 years$1,100$648$365$199$106$15
46 years$1,064$618$343$184$96$13
47 years$1,030$590$322$170$88$11
48 years$997$563$303$157$80$10
49 years$965$538$285$145$72$8
50 years$935$514$268$134$66$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $958,000, adding $4,565 every year, while hoping to spend $30,635 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: 63/24/13 Blend
59$958,000$958,000$958,000$958,000
60$1,060,425$1,009,651$994,802$1,123,678
61$1,135,993$1,026,528$995,532$1,183,488
62$1,218,242$1,043,206$995,260$1,244,835
63$1,307,821$1,059,642$993,920$1,311,069
64$1,405,445$1,075,791$991,443$1,382,666
65$1,511,900$1,091,604$987,756$1,460,150
66$1,628,051$1,107,029$982,783$1,544,097
67$1,754,850$1,122,012$976,444$1,635,146
68$1,893,346$1,136,492$968,656$1,733,997
69$2,044,693$1,150,405$959,332$1,841,423
70$2,210,162$1,163,685$948,379$1,958,279
71$2,391,150$1,176,258$935,702$2,085,504
72$2,589,200$1,188,047$921,200$2,224,134
73$2,806,007$1,198,969$904,769$2,375,312
74$3,043,438$1,208,937$886,297$2,540,298
75$3,303,550$1,217,857$865,669$2,720,482
76$3,588,609$1,225,628$842,766$2,917,393
77$3,901,109$1,232,146$817,460$3,132,722
78$4,243,797$1,237,296$789,621$3,368,328
79$4,619,700$1,240,960$759,109$3,626,265
80$5,032,151$1,243,008$725,780$3,908,796
81$5,484,821$1,243,306$689,484$4,218,413
82$5,981,754$1,241,709$650,063$4,557,869
83$6,527,404$1,238,065$607,352$4,930,195
84$7,126,680$1,232,211$561,179$5,338,734
85$7,784,987$1,223,974$511,364$5,787,172
86$8,508,279$1,213,173$457,718$6,279,572
87$9,303,118$1,199,612$400,046$6,820,413
88$10,176,731$1,183,088$338,143$7,414,635
89$11,137,080$1,163,382$271,793$8,067,682
90$12,192,938$1,140,263$200,774$8,785,557
91$13,353,969$1,113,488$124,851$9,574,876
92$14,630,822$1,082,798$43,782$10,442,934
93$16,035,229$1,047,918$0$11,397,775
94$17,580,115$1,008,558$0$12,454,189
95$19,279,723$964,414$0$13,622,891
96$21,149,743$915,158$0$14,908,611
97$23,207,465$860,449$0$16,323,268
98$25,471,939$799,924$0$17,879,994
99$27,964,155$733,198$0$19,593,266
100$30,707,240$659,866$0$21,479,038