Can I retire at age 60 with 959,000?

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 $959,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$79,193$78,488$77,800$77,128$76,472$75,174
2 years$39,205$38,474$37,767$37,081$36,415$35,112
3 years$25,877$25,143$24,438$23,758$23,103$21,835
4 years$19,214$18,483$17,784$17,116$16,477$15,253
5 years$15,218$14,491$13,801$13,147$12,526$11,350
6 years$12,554$11,833$11,154$10,514$9,911$8,785
7 years$10,652$9,937$9,269$8,644$8,061$6,984
8 years$9,227$8,518$7,861$7,251$6,687$5,660
9 years$8,119$7,417$6,770$6,176$5,631$4,654
10 years$7,232$6,537$5,903$5,324$4,798$3,869
11 years$6,508$5,820$5,196$4,634$4,127$3,244
12 years$5,905$5,224$4,612$4,064$3,576$2,740
13 years$5,395$4,721$4,120$3,588$3,118$2,327
14 years$4,958$4,291$3,702$3,185$2,734$1,985
15 years$4,579$3,920$3,342$2,841$2,407$1,701
16 years$4,249$3,596$3,030$2,543$2,127$1,462
17 years$3,957$3,312$2,758$2,285$1,886$1,259
18 years$3,698$3,061$2,517$2,059$1,677$1,088
19 years$3,467$2,836$2,304$1,861$1,495$941
20 years$3,259$2,636$2,115$1,685$1,335$816
21 years$3,071$2,455$1,945$1,530$1,195$709
22 years$2,901$2,292$1,793$1,391$1,071$616
23 years$2,745$2,143$1,655$1,267$961$536
24 years$2,603$2,008$1,531$1,155$864$467
25 years$2,472$1,885$1,418$1,055$778$407
26 years$2,352$1,771$1,315$965$700$355
27 years$2,241$1,667$1,221$883$631$310
28 years$2,137$1,571$1,135$809$570$271
29 years$2,041$1,482$1,056$742$515$236
30 years$1,952$1,399$984$681$465$207
31 years$1,869$1,323$917$625$420$181
32 years$1,791$1,252$856$575$380$158
33 years$1,717$1,185$799$528$344$138
34 years$1,649$1,124$747$486$312$121
35 years$1,584$1,066$698$448$282$106
36 years$1,523$1,011$653$412$256$93
37 years$1,466$961$611$380$232$81
38 years$1,411$913$572$350$210$71
39 years$1,360$868$536$323$190$62
40 years$1,311$826$503$298$173$54
41 years$1,265$786$471$275$157$48
42 years$1,221$749$442$254$142$42
43 years$1,179$713$415$234$129$37
44 years$1,139$680$389$216$117$32
45 years$1,102$649$366$200$106$28
46 years$1,065$619$343$184$97$25
47 years$1,031$590$323$170$88$22
48 years$998$564$303$157$80$19
49 years$966$538$285$145$72$17
50 years$936$514$268$134$66$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $959,000, adding $2,295 every year, while hoping to spend $50,037 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: 52/29/19 Blend
59$959,000$959,000$959,000$959,000
60$1,059,185$1,008,358$993,494$1,108,621
61$1,113,983$1,004,529$973,537$1,139,032
62$1,172,693$998,835$951,234$1,166,688
63$1,235,662$991,132$926,455$1,195,689
64$1,303,270$981,267$899,061$1,226,182
65$1,375,932$969,078$868,909$1,258,328
66$1,454,108$954,394$835,848$1,292,306
67$1,538,300$937,032$799,721$1,328,320
68$1,629,059$916,799$760,364$1,366,593
69$1,726,991$893,490$717,605$1,407,379
70$1,832,764$866,891$671,264$1,450,958
71$1,947,108$836,771$621,154$1,497,642
72$2,070,829$802,888$567,078$1,547,781
73$2,204,810$764,987$508,832$1,601,764
74$2,350,024$722,795$446,202$1,660,023
75$2,507,541$676,025$378,963$1,723,040
76$2,678,535$624,375$306,883$1,791,351
77$2,864,300$567,524$229,718$1,865,551
78$3,066,258$505,133$147,214$1,946,303
79$3,285,975$436,843$59,104$2,034,343
80$3,525,173$362,276$0$2,130,487
81$3,785,745$281,033$0$2,242,725
82$4,069,778$192,690$0$2,378,229
83$4,379,565$96,801$0$2,526,184
84$4,717,632$0$0$2,687,894
85$5,086,760$0$0$2,867,067
86$5,490,009$0$0$3,096,638
87$5,930,748$0$0$3,347,644
88$6,412,686$0$0$3,622,210
89$6,939,907$0$0$3,922,675
90$7,516,908$0$0$4,251,613
91$8,148,641$0$0$4,611,861
92$8,840,559$0$0$5,006,542
93$9,598,666$0$0$5,439,095
94$10,429,576$0$0$5,913,308
95$11,340,571$0$0$6,433,352
96$12,339,674$0$0$7,003,823
97$13,435,720$0$0$7,629,781
98$14,638,441$0$0$8,316,802
99$15,958,557$0$0$9,071,025
100$17,407,874$0$0$9,899,215