Can I retire at age 60 with 978,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $978,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$80,762$80,043$79,341$78,656$77,987$77,141
2 years$39,981$39,237$38,515$37,815$37,137$36,284
3 years$26,389$25,642$24,922$24,229$23,561$22,729
4 years$19,595$18,849$18,137$17,455$16,804$15,999
5 years$15,519$14,778$14,075$13,407$12,774$11,999
6 years$12,803$12,067$11,375$10,722$10,108$9,363
7 years$10,863$10,134$9,452$8,815$8,220$7,506
8 years$9,410$8,687$8,016$7,395$6,820$6,136
9 years$8,279$7,563$6,904$6,299$5,743$5,090
10 years$7,376$6,667$6,019$5,430$4,893$4,270
11 years$6,637$5,935$5,299$4,725$4,208$3,614
12 years$6,022$5,327$4,703$4,145$3,647$3,082
13 years$5,501$4,814$4,202$3,659$3,180$2,643
14 years$5,056$4,376$3,775$3,248$2,788$2,278
15 years$4,670$3,997$3,409$2,897$2,455$1,971
16 years$4,333$3,668$3,091$2,594$2,169$1,712
17 years$4,036$3,378$2,812$2,331$1,923$1,491
18 years$3,772$3,121$2,567$2,100$1,710$1,302
19 years$3,536$2,893$2,350$1,898$1,524$1,139
20 years$3,324$2,688$2,157$1,719$1,362$999
21 years$3,132$2,504$1,984$1,560$1,219$877
22 years$2,958$2,337$1,828$1,418$1,092$771
23 years$2,800$2,186$1,688$1,292$980$679
24 years$2,655$2,048$1,561$1,178$881$598
25 years$2,521$1,922$1,446$1,076$793$527
26 years$2,399$1,806$1,341$984$714$466
27 years$2,285$1,700$1,245$900$644$411
28 years$2,180$1,602$1,158$825$581$364
29 years$2,082$1,511$1,077$757$525$321
30 years$1,991$1,427$1,004$694$474$284
31 years$1,906$1,349$936$638$429$252
32 years$1,826$1,277$873$586$388$223
33 years$1,751$1,209$815$539$351$198
34 years$1,681$1,146$762$496$318$175
35 years$1,615$1,087$712$456$288$155
36 years$1,553$1,032$666$420$261$138
37 years$1,495$980$623$387$236$122
38 years$1,439$931$584$357$214$108
39 years$1,387$885$547$329$194$96
40 years$1,337$842$513$304$176$85
41 years$1,290$802$481$280$160$75
42 years$1,245$764$451$259$145$67
43 years$1,203$728$423$239$132$59
44 years$1,162$694$397$220$119$53
45 years$1,123$661$373$204$108$47
46 years$1,087$631$350$188$98$42
47 years$1,051$602$329$174$89$37
48 years$1,018$575$309$160$81$33
49 years$986$549$291$148$74$29
50 years$955$524$273$137$67$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $978,000, adding $3,411 every year, while hoping to spend $31,402 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: 70/19/11 Blend
59$978,000$978,000$978,000$978,000
60$1,081,274$1,029,440$1,014,281$1,154,285
61$1,158,153$1,046,472$1,014,848$1,220,164
62$1,241,821$1,063,285$1,014,382$1,288,092
63$1,332,937$1,079,836$1,012,814$1,361,592
64$1,432,227$1,096,079$1,010,074$1,441,204
65$1,540,490$1,111,962$1,006,087$1,527,528
66$1,658,604$1,127,432$1,000,775$1,621,221
67$1,787,536$1,142,432$994,056$1,723,009
68$1,928,352$1,156,898$985,844$1,833,692
69$2,082,224$1,170,766$976,050$1,954,149
70$2,250,442$1,183,964$964,578$2,085,352
71$2,434,426$1,196,418$951,331$2,228,372
72$2,635,742$1,208,047$936,205$2,384,386
73$2,856,112$1,218,765$919,092$2,554,695
74$3,097,432$1,228,482$899,879$2,740,731
75$3,361,792$1,237,099$878,447$2,944,072
76$3,651,492$1,244,514$854,672$3,166,459
77$3,969,066$1,250,617$828,425$3,409,809
78$4,317,303$1,255,290$799,570$3,676,236
79$4,699,278$1,258,408$767,965$3,968,070
80$5,118,374$1,259,841$733,462$4,287,880
81$5,578,322$1,259,446$695,906$4,638,495
82$6,083,226$1,257,075$655,134$5,023,036
83$6,637,613$1,252,569$610,979$5,444,942
84$7,246,464$1,245,760$563,262$5,908,004
85$7,915,271$1,236,469$511,798$6,416,400
86$8,650,081$1,224,508$456,395$6,974,737
87$9,457,555$1,209,675$396,851$7,588,090
88$10,345,035$1,191,759$332,955$8,262,056
89$11,320,607$1,170,533$264,487$9,002,803
90$12,393,178$1,145,759$191,217$9,817,129
91$13,572,565$1,117,183$112,905$10,712,528
92$14,869,581$1,084,539$29,301$11,697,260
93$16,296,139$1,047,543$0$12,780,430
94$17,865,367$1,005,895$0$13,979,106
95$19,591,728$959,277$0$15,301,443
96$21,491,156$907,353$0$16,756,225
97$23,581,210$849,769$0$18,356,924
98$25,881,235$786,149$0$20,118,389
99$28,412,546$716,097$0$22,056,983
100$31,198,632$639,191$0$24,190,741