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%16%
1 years$79,193$78,488$77,800$77,128$76,472$74,593
2 years$39,205$38,474$37,767$37,081$36,415$34,534
3 years$25,877$25,143$24,438$23,758$23,103$21,278
4 years$19,214$18,483$17,784$17,116$16,477$14,723
5 years$15,218$14,491$13,801$13,147$12,526$10,847
6 years$12,554$11,833$11,154$10,514$9,911$8,309
7 years$10,652$9,937$9,269$8,644$8,061$6,535
8 years$9,227$8,518$7,861$7,251$6,687$5,238
9 years$8,119$7,417$6,770$6,176$5,631$4,258
10 years$7,232$6,537$5,903$5,324$4,798$3,498
11 years$6,508$5,820$5,196$4,634$4,127$2,899
12 years$5,905$5,224$4,612$4,064$3,576$2,418
13 years$5,395$4,721$4,120$3,588$3,118$2,028
14 years$4,958$4,291$3,702$3,185$2,734$1,708
15 years$4,579$3,920$3,342$2,841$2,407$1,444
16 years$4,249$3,596$3,030$2,543$2,127$1,224
17 years$3,957$3,312$2,758$2,285$1,886$1,041
18 years$3,698$3,061$2,517$2,059$1,677$887
19 years$3,467$2,836$2,304$1,861$1,495$756
20 years$3,259$2,636$2,115$1,685$1,335$647
21 years$3,071$2,455$1,945$1,530$1,195$553
22 years$2,901$2,292$1,793$1,391$1,071$474
23 years$2,745$2,143$1,655$1,267$961$406
24 years$2,603$2,008$1,531$1,155$864$349
25 years$2,472$1,885$1,418$1,055$778$299
26 years$2,352$1,771$1,315$965$700$257
27 years$2,241$1,667$1,221$883$631$221
28 years$2,137$1,571$1,135$809$570$190
29 years$2,041$1,482$1,056$742$515$163
30 years$1,952$1,399$984$681$465$141
31 years$1,869$1,323$917$625$420$121
32 years$1,791$1,252$856$575$380$104
33 years$1,717$1,185$799$528$344$90
34 years$1,649$1,124$747$486$312$77
35 years$1,584$1,066$698$448$282$67
36 years$1,523$1,011$653$412$256$57
37 years$1,466$961$611$380$232$49
38 years$1,411$913$572$350$210$43
39 years$1,360$868$536$323$190$37
40 years$1,311$826$503$298$173$32
41 years$1,265$786$471$275$157$27
42 years$1,221$749$442$254$142$23
43 years$1,179$713$415$234$129$20
44 years$1,139$680$389$216$117$17
45 years$1,102$649$366$200$106$15
46 years$1,065$619$343$184$97$13
47 years$1,031$590$323$170$88$11
48 years$998$564$303$157$80$10
49 years$966$538$285$145$72$8
50 years$936$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 $959,000, adding $3,862 every year, while hoping to spend $51,337 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: 58/30/12 Blend
59$959,000$959,000$959,000$959,000
60$1,060,802$1,009,975$995,110$1,118,964
61$1,114,381$1,004,841$973,824$1,153,519
62$1,171,705$997,736$950,105$1,185,115
63$1,233,102$988,507$923,815$1,218,330
64$1,298,930$976,996$894,815$1,253,328
65$1,369,584$963,032$862,955$1,290,289
66$1,445,497$946,436$828,079$1,329,413
67$1,527,144$927,018$790,026$1,370,925
68$1,615,047$904,575$748,626$1,415,073
69$1,709,777$878,895$703,701$1,462,135
70$1,811,966$849,752$655,066$1,512,418
71$1,922,302$816,906$602,527$1,566,265
72$2,041,547$780,105$545,881$1,624,058
73$2,170,535$739,080$484,918$1,686,219
74$2,310,183$693,548$419,417$1,753,219
75$2,461,500$643,211$349,145$1,825,579
76$2,625,596$587,751$273,864$1,903,879
77$2,803,689$526,833$193,321$1,988,763
78$2,997,122$460,104$107,254$2,080,944
79$3,207,370$387,191$15,388$2,181,214
80$3,436,056$307,697$0$2,290,451
81$3,684,966$221,207$0$2,420,211
82$3,956,066$127,280$0$2,563,780
83$4,251,518$25,450$0$2,720,423
84$4,573,702$0$0$2,891,506
85$4,925,238$0$0$3,106,525
86$5,309,008$0$0$3,350,508
87$5,728,187$0$0$3,617,083
88$6,186,268$0$0$3,908,479
89$6,687,098$0$0$4,227,156
90$7,234,913$0$0$4,575,817
91$7,834,375$0$0$4,957,443
92$8,490,620$0$0$5,375,315
93$9,209,302$0$0$5,833,043
94$9,996,647$0$0$6,334,608
95$10,859,513$0$0$6,884,390
96$11,805,453$0$0$7,487,215
97$12,842,784$0$0$8,148,397
98$13,980,668$0$0$8,873,791
99$15,229,196$0$0$9,669,844
100$16,599,482$0$0$10,543,658