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%12.2%
1 years$79,111$78,406$77,719$77,048$76,392$75,689
2 years$39,164$38,434$37,727$37,042$36,377$35,669
3 years$25,850$25,117$24,412$23,733$23,079$22,387
4 years$19,194$18,464$17,766$17,098$16,460$15,790
5 years$15,202$14,476$13,787$13,133$12,513$11,867
6 years$12,541$11,821$11,142$10,503$9,901$9,280
7 years$10,641$9,927$9,259$8,635$8,052$7,456
8 years$9,217$8,509$7,852$7,244$6,680$6,109
9 years$8,110$7,409$6,763$6,170$5,626$5,079
10 years$7,225$6,531$5,896$5,319$4,793$4,272
11 years$6,501$5,814$5,191$4,629$4,122$3,625
12 years$5,898$5,218$4,607$4,060$3,572$3,098
13 years$5,389$4,716$4,116$3,584$3,115$2,664
14 years$4,952$4,286$3,698$3,182$2,731$2,302
15 years$4,575$3,916$3,339$2,838$2,404$1,998
16 years$4,244$3,593$3,027$2,541$2,125$1,740
17 years$3,953$3,309$2,755$2,283$1,884$1,519
18 years$3,695$3,057$2,515$2,057$1,675$1,330
19 years$3,464$2,833$2,302$1,859$1,493$1,167
20 years$3,256$2,633$2,113$1,684$1,334$1,026
21 years$3,068$2,453$1,943$1,528$1,194$904
22 years$2,898$2,289$1,791$1,389$1,070$797
23 years$2,743$2,141$1,654$1,265$960$704
24 years$2,600$2,006$1,529$1,154$863$622
25 years$2,470$1,883$1,417$1,054$777$550
26 years$2,350$1,769$1,314$964$700$487
27 years$2,238$1,665$1,220$882$631$432
28 years$2,135$1,569$1,134$808$569$383
29 years$2,039$1,480$1,055$741$514$340
30 years$1,950$1,398$983$680$464$302
31 years$1,867$1,322$916$625$420$268
32 years$1,789$1,250$855$574$380$238
33 years$1,716$1,184$798$528$344$212
34 years$1,647$1,122$746$486$311$188
35 years$1,582$1,065$697$447$282$167
36 years$1,522$1,010$652$412$255$149
37 years$1,464$960$611$379$231$132
38 years$1,410$912$572$350$210$118
39 years$1,358$867$536$322$190$105
40 years$1,310$825$502$297$173$93
41 years$1,264$785$471$274$157$83
42 years$1,220$748$442$253$142$74
43 years$1,178$713$414$234$129$66
44 years$1,138$679$389$216$117$59
45 years$1,100$648$365$199$106$52
46 years$1,064$618$343$184$96$47
47 years$1,030$590$322$170$88$41
48 years$997$563$303$157$80$37
49 years$965$538$285$145$72$33
50 years$935$514$268$134$66$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $958,000, adding $2,205 every year, while hoping to spend $54,909 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: 66/22/12 Blend
59$958,000$958,000$958,000$958,000
60$1,057,990$1,007,216$992,367$1,124,830
61$1,107,483$998,147$967,189$1,160,595
62$1,160,183$986,793$939,327$1,193,001
63$1,216,360$972,985$908,633$1,227,022
64$1,276,310$956,542$874,953$1,262,813
65$1,340,354$937,273$838,124$1,300,546
66$1,408,847$914,977$797,979$1,340,409
67$1,482,178$889,439$754,340$1,382,615
68$1,560,772$860,433$707,022$1,427,397
69$1,645,096$827,720$655,832$1,475,017
70$1,735,662$791,045$600,569$1,525,764
71$1,833,034$750,140$541,022$1,579,959
72$1,937,827$704,721$476,970$1,637,958
73$2,050,722$654,488$408,185$1,700,157
74$2,172,461$599,123$334,425$1,766,995
75$2,303,863$538,292$255,439$1,838,959
76$2,445,828$471,639$170,967$1,916,587
77$2,599,343$398,789$80,734$2,000,479
78$2,765,493$319,347$0$2,091,298
79$2,945,473$232,895$0$2,191,771
80$3,140,594$138,990$0$2,311,880
81$3,352,300$37,166$0$2,442,221
82$3,582,179$0$0$2,583,832
83$3,831,975$0$0$2,755,554
84$4,103,610$0$0$2,952,127
85$4,399,195$0$0$3,166,088
86$4,721,057$0$0$3,399,128
87$5,071,752$0$0$3,653,106
88$5,454,096$0$0$3,930,069
89$5,871,188$0$0$4,232,268
90$6,326,438$0$0$4,562,185
91$6,823,599$0$0$4,922,546
92$7,366,804$0$0$5,316,358
93$7,960,603$0$0$5,746,928
94$8,610,005$0$0$6,217,897
95$9,320,525$0$0$6,733,275
96$10,098,234$0$0$7,297,479
97$10,949,822$0$0$7,915,369
98$11,882,650$0$0$8,592,301
99$12,904,829$0$0$9,334,172
100$14,025,291$0$0$10,147,475