Can I retire at age 60 with 977,000?

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 $977,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$80,680$79,961$79,260$78,576$77,907$76,775
2 years$39,940$39,197$38,476$37,777$37,099$35,960
3 years$26,362$25,615$24,896$24,204$23,537$22,428
4 years$19,575$18,830$18,118$17,438$16,787$15,715
5 years$15,503$14,763$14,060$13,394$12,761$11,731
6 years$12,790$12,055$11,363$10,711$10,097$9,109
7 years$10,852$10,124$9,443$8,806$8,212$7,266
8 years$9,400$8,678$8,008$7,387$6,813$5,909
9 years$8,271$7,556$6,897$6,292$5,737$4,876
10 years$7,368$6,660$6,013$5,424$4,888$4,068
11 years$6,630$5,929$5,294$4,721$4,204$3,424
12 years$6,015$5,322$4,698$4,141$3,643$2,903
13 years$5,496$4,809$4,198$3,655$3,177$2,475
14 years$5,051$4,371$3,772$3,245$2,785$2,121
15 years$4,665$3,993$3,405$2,894$2,452$1,824
16 years$4,328$3,664$3,087$2,591$2,167$1,574
17 years$4,032$3,374$2,809$2,328$1,922$1,362
18 years$3,768$3,118$2,565$2,098$1,709$1,182
19 years$3,532$2,890$2,348$1,896$1,523$1,027
20 years$3,321$2,685$2,155$1,717$1,360$895
21 years$3,129$2,501$1,982$1,558$1,217$780
22 years$2,955$2,335$1,827$1,417$1,091$681
23 years$2,797$2,184$1,687$1,290$979$596
24 years$2,652$2,046$1,560$1,177$880$521
25 years$2,519$1,920$1,445$1,075$792$456
26 years$2,396$1,805$1,340$983$714$400
27 years$2,283$1,698$1,244$900$643$351
28 years$2,178$1,600$1,157$824$580$308
29 years$2,080$1,510$1,076$756$524$270
30 years$1,989$1,426$1,003$694$474$237
31 years$1,904$1,348$935$637$428$209
32 years$1,824$1,275$872$585$387$183
33 years$1,750$1,208$814$538$351$161
34 years$1,680$1,145$761$495$317$142
35 years$1,614$1,086$711$456$287$125
36 years$1,552$1,030$665$420$260$110
37 years$1,493$979$623$387$236$97
38 years$1,438$930$583$357$214$85
39 years$1,385$884$546$329$194$75
40 years$1,336$841$512$303$176$66
41 years$1,289$801$480$280$160$58
42 years$1,244$763$450$258$145$51
43 years$1,201$727$423$238$132$45
44 years$1,161$693$397$220$119$40
45 years$1,122$661$373$203$108$35
46 years$1,085$630$350$188$98$31
47 years$1,050$601$329$173$89$27
48 years$1,017$574$309$160$81$24
49 years$985$548$290$148$74$21
50 years$954$524$273$137$67$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $977,000, adding $6,644 every year, while hoping to spend $51,060 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: 59/36/5 Blend
59$977,000$977,000$977,000$977,000
60$1,083,507$1,031,726$1,016,583$1,146,083
61$1,139,698$1,027,953$996,311$1,185,008
62$1,199,908$1,022,284$973,649$1,220,980
63$1,264,495$1,014,572$948,462$1,258,899
64$1,333,848$1,004,662$920,610$1,298,954
65$1,408,398$992,387$889,948$1,341,354
66$1,488,614$977,574$856,321$1,386,332
67$1,575,014$960,036$819,569$1,434,144
68$1,668,165$939,578$779,524$1,485,078
69$1,768,692$915,991$736,012$1,539,451
70$1,877,279$889,055$688,849$1,597,618
71$1,994,680$858,537$637,844$1,659,968
72$2,121,722$824,190$582,796$1,726,939
73$2,259,315$785,753$523,497$1,799,011
74$2,408,460$742,949$459,729$1,876,719
75$2,570,256$695,487$391,264$1,960,658
76$2,745,914$643,058$317,863$2,051,485
77$2,936,764$585,334$239,278$2,149,929
78$3,144,269$521,971$155,249$2,256,798
79$3,370,041$452,604$65,507$2,372,987
80$3,615,851$376,848$0$2,499,490
81$3,883,649$294,294$0$2,639,018
82$4,175,580$204,513$0$2,795,010
83$4,494,005$107,051$0$2,965,329
84$4,841,524$1,427$0$3,151,485
85$5,220,998$0$0$3,355,148
86$5,635,576$0$0$3,622,872
87$6,088,724$0$0$3,916,201
88$6,584,261$0$0$4,237,048
89$7,126,389$0$0$4,588,146
90$7,719,736$0$0$4,972,501
91$8,369,398$0$0$5,393,427
92$9,080,986$0$0$5,854,569
93$9,860,680$0$0$6,359,945
94$10,715,286$0$0$6,913,978
95$11,652,299$0$0$7,521,539
96$12,679,976$0$0$8,187,995
97$13,807,408$0$0$8,919,257
98$15,044,613$0$0$9,721,834
99$16,402,620$0$0$10,602,897
100$17,893,584$0$0$11,570,347