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%16.6%
1 years$79,111$78,406$77,719$77,048$76,392$74,334
2 years$39,164$38,434$37,727$37,042$36,377$34,319
3 years$25,850$25,117$24,412$23,733$23,079$21,084
4 years$19,194$18,464$17,766$17,098$16,460$14,545
5 years$15,202$14,476$13,787$13,133$12,513$10,681
6 years$12,541$11,821$11,142$10,503$9,901$8,156
7 years$10,641$9,927$9,259$8,635$8,052$6,393
8 years$9,217$8,509$7,852$7,244$6,680$5,106
9 years$8,110$7,409$6,763$6,170$5,626$4,136
10 years$7,225$6,531$5,896$5,319$4,793$3,385
11 years$6,501$5,814$5,191$4,629$4,122$2,794
12 years$5,898$5,218$4,607$4,060$3,572$2,322
13 years$5,389$4,716$4,116$3,584$3,115$1,939
14 years$4,952$4,286$3,698$3,182$2,731$1,627
15 years$4,575$3,916$3,339$2,838$2,404$1,369
16 years$4,244$3,593$3,027$2,541$2,125$1,156
17 years$3,953$3,309$2,755$2,283$1,884$979
18 years$3,695$3,057$2,515$2,057$1,675$830
19 years$3,464$2,833$2,302$1,859$1,493$705
20 years$3,256$2,633$2,113$1,684$1,334$600
21 years$3,068$2,453$1,943$1,528$1,194$511
22 years$2,898$2,289$1,791$1,389$1,070$436
23 years$2,743$2,141$1,654$1,265$960$372
24 years$2,600$2,006$1,529$1,154$863$317
25 years$2,470$1,883$1,417$1,054$777$271
26 years$2,350$1,769$1,314$964$700$232
27 years$2,238$1,665$1,220$882$631$198
28 years$2,135$1,569$1,134$808$569$170
29 years$2,039$1,480$1,055$741$514$145
30 years$1,950$1,398$983$680$464$124
31 years$1,867$1,322$916$625$420$107
32 years$1,789$1,250$855$574$380$91
33 years$1,716$1,184$798$528$344$78
34 years$1,647$1,122$746$486$311$67
35 years$1,582$1,065$697$447$282$57
36 years$1,522$1,010$652$412$255$49
37 years$1,464$960$611$379$231$42
38 years$1,410$912$572$350$210$36
39 years$1,358$867$536$322$190$31
40 years$1,310$825$502$297$173$27
41 years$1,264$785$471$274$157$23
42 years$1,220$748$442$253$142$20
43 years$1,178$713$414$234$129$17
44 years$1,138$679$389$216$117$14
45 years$1,100$648$365$199$106$12
46 years$1,064$618$343$184$96$11
47 years$1,030$590$322$170$88$9
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 $3,670 every year, while hoping to spend $53,407 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: 68/9/23 Blend
59$958,000$958,000$958,000$958,000
60$1,059,502$1,008,728$993,879$1,125,124
61$1,110,746$1,001,331$970,349$1,162,171
62$1,165,428$991,781$944,241$1,196,185
63$1,223,840$979,918$915,412$1,232,135
64$1,286,306$965,568$883,713$1,270,210
65$1,353,180$948,551$848,987$1,310,621
66$1,424,848$928,673$811,072$1,353,602
67$1,501,736$905,732$769,796$1,399,412
68$1,584,310$879,510$724,982$1,448,337
69$1,673,083$849,779$676,442$1,500,696
70$1,768,617$816,298$623,982$1,556,841
71$1,871,528$778,809$567,398$1,617,163
72$1,982,496$737,043$506,478$1,682,092
73$2,102,265$690,713$441,000$1,752,109
74$2,231,654$639,515$370,731$1,827,742
75$2,371,561$583,130$295,429$1,909,578
76$2,522,976$521,218$214,841$1,998,266
77$2,686,984$453,423$128,703$2,094,524
78$2,864,782$379,366$36,740$2,199,146
79$3,057,682$298,647$0$2,313,010
80$3,267,129$210,845$0$2,452,158
81$3,494,714$115,514$0$2,613,197
82$3,742,184$12,183$0$2,788,365
83$4,011,462$0$0$2,979,058
84$4,304,666$0$0$3,196,679
85$4,624,123$0$0$3,435,152
86$4,972,397$0$0$3,695,190
87$5,352,309$0$0$3,978,906
88$5,766,962$0$0$4,288,626
89$6,219,775$0$0$4,626,909
90$6,714,508$0$0$4,996,574
91$7,255,305$0$0$5,400,722
92$7,846,724$0$0$5,842,771
93$8,493,787$0$0$6,326,480
94$9,202,020$0$0$6,855,992
95$9,977,513$0$0$7,435,866
96$10,826,967$0$0$8,071,125
97$11,757,766$0$0$8,767,300
98$12,778,039$0$0$9,530,482
99$13,896,742$0$0$10,367,380
100$15,123,735$0$0$11,285,381