Can I retire at age 60 with 956,000?

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 $956,000?

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$78,946$78,242$77,556$76,887$76,233$74,360
2 years$39,082$38,354$37,649$36,965$36,301$34,426
3 years$25,796$25,065$24,361$23,684$23,031$21,212
4 years$19,154$18,425$17,729$17,063$16,426$14,677
5 years$15,170$14,446$13,758$13,106$12,487$10,813
6 years$12,515$11,796$11,119$10,481$9,880$8,283
7 years$10,619$9,906$9,240$8,617$8,035$6,515
8 years$9,198$8,491$7,836$7,228$6,666$5,222
9 years$8,093$7,393$6,749$6,157$5,614$4,245
10 years$7,210$6,517$5,884$5,307$4,783$3,488
11 years$6,488$5,802$5,180$4,619$4,114$2,890
12 years$5,886$5,207$4,597$4,052$3,565$2,410
13 years$5,378$4,706$4,107$3,577$3,109$2,021
14 years$4,942$4,277$3,691$3,175$2,725$1,703
15 years$4,565$3,908$3,332$2,832$2,399$1,439
16 years$4,235$3,585$3,021$2,535$2,121$1,221
17 years$3,945$3,302$2,749$2,278$1,880$1,037
18 years$3,687$3,051$2,509$2,053$1,672$884
19 years$3,456$2,828$2,297$1,855$1,490$754
20 years$3,249$2,628$2,108$1,680$1,331$644
21 years$3,062$2,447$1,939$1,525$1,191$551
22 years$2,892$2,285$1,787$1,386$1,068$472
23 years$2,737$2,137$1,650$1,263$958$405
24 years$2,595$2,002$1,526$1,152$861$348
25 years$2,465$1,879$1,414$1,052$775$298
26 years$2,345$1,766$1,311$962$698$256
27 years$2,234$1,662$1,217$880$630$220
28 years$2,131$1,566$1,132$806$568$189
29 years$2,035$1,477$1,053$740$513$163
30 years$1,946$1,395$981$679$463$140
31 years$1,863$1,319$915$623$419$121
32 years$1,785$1,248$853$573$379$104
33 years$1,712$1,182$797$527$343$89
34 years$1,644$1,120$744$485$311$77
35 years$1,579$1,062$696$446$281$66
36 years$1,518$1,008$651$411$255$57
37 years$1,461$958$609$379$231$49
38 years$1,407$910$571$349$209$42
39 years$1,356$865$535$322$190$37
40 years$1,307$823$501$297$172$31
41 years$1,261$784$470$274$156$27
42 years$1,217$746$441$253$142$23
43 years$1,175$711$414$233$129$20
44 years$1,136$678$388$215$117$17
45 years$1,098$646$365$199$106$15
46 years$1,062$617$342$184$96$13
47 years$1,028$589$322$170$87$11
48 years$995$562$302$157$79$10
49 years$963$537$284$145$72$8
50 years$933$513$267$134$65$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $956,000, adding $2,297 every year, while hoping to spend $54,367 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: 31/39/30 Blend
59$956,000$956,000$956,000$956,000
60$1,055,881$1,005,213$990,395$1,078,881
61$1,105,735$996,623$965,728$1,088,409
62$1,158,852$985,789$938,411$1,093,764
63$1,215,507$972,545$908,300$1,098,479
64$1,276,002$956,713$875,242$1,102,536
65$1,340,668$938,106$839,076$1,105,923
66$1,409,867$916,524$799,636$1,108,631
67$1,483,997$891,756$756,747$1,110,654
68$1,563,493$863,581$710,226$1,111,994
69$1,648,833$831,760$659,883$1,112,658
70$1,740,543$796,046$605,518$1,112,663
71$1,839,198$756,172$546,923$1,112,032
72$1,945,432$711,860$483,880$1,110,800
73$2,059,939$662,813$416,163$1,109,012
74$2,183,481$608,720$343,533$1,106,728
75$2,316,898$549,249$265,743$1,104,023
76$2,461,110$484,051$182,534$1,100,988
77$2,617,131$412,757$93,636$1,097,734
78$2,786,073$334,976$0$1,094,395
79$2,969,159$250,297$0$1,091,524
80$3,167,736$158,285$0$1,120,925
81$3,383,284$58,479$0$1,152,910
82$3,617,428$0$0$1,187,835
83$3,871,961$0$0$1,247,391
84$4,148,851$0$0$1,339,609
85$4,450,265$0$0$1,440,130
86$4,778,588$0$0$1,549,766
87$5,136,443$0$0$1,669,411
88$5,526,718$0$0$1,800,050
89$5,952,592$0$0$1,942,766
90$6,417,562$0$0$2,098,750
91$6,925,480$0$0$2,269,316
92$7,480,586$0$0$2,455,909
93$8,087,546$0$0$2,660,121
94$8,751,501$0$0$2,883,705
95$9,478,108$0$0$3,128,590
96$10,273,599$0$0$3,396,902
97$11,144,835$0$0$3,690,982
98$12,099,371$0$0$4,013,406
99$13,145,530$0$0$4,367,016
100$14,292,476$0$0$4,754,937