Can I retire at age 60 with 979,000?

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 $979,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$80,845$80,125$79,422$78,736$78,067$76,900
2 years$40,022$39,277$38,554$37,854$37,175$36,002
3 years$26,416$25,668$24,947$24,253$23,585$22,443
4 years$19,615$18,869$18,155$17,473$16,821$15,718
5 years$15,535$14,793$14,089$13,421$12,787$11,726
6 years$12,816$12,080$11,386$10,733$10,118$9,101
7 years$10,875$10,145$9,462$8,824$8,229$7,255
8 years$9,419$8,696$8,024$7,402$6,826$5,897
9 years$8,288$7,571$6,911$6,305$5,749$4,863
10 years$7,383$6,674$6,026$5,435$4,898$4,055
11 years$6,644$5,941$5,305$4,730$4,213$3,411
12 years$6,028$5,332$4,708$4,149$3,651$2,890
13 years$5,507$4,819$4,206$3,663$3,183$2,462
14 years$5,061$4,380$3,779$3,252$2,791$2,108
15 years$4,675$4,002$3,412$2,900$2,457$1,812
16 years$4,337$3,671$3,094$2,596$2,172$1,563
17 years$4,040$3,381$2,815$2,333$1,925$1,351
18 years$3,776$3,124$2,570$2,102$1,712$1,172
19 years$3,540$2,896$2,353$1,900$1,526$1,018
20 years$3,327$2,691$2,159$1,721$1,363$886
21 years$3,136$2,506$1,986$1,562$1,220$772
22 years$2,961$2,340$1,830$1,420$1,093$673
23 years$2,803$2,188$1,690$1,293$981$588
24 years$2,657$2,050$1,563$1,179$882$514
25 years$2,524$1,924$1,448$1,077$794$450
26 years$2,401$1,808$1,343$985$715$394
27 years$2,287$1,702$1,247$901$645$345
28 years$2,182$1,604$1,159$826$582$303
29 years$2,084$1,513$1,079$757$525$266
30 years$1,993$1,429$1,005$695$475$233
31 years$1,908$1,351$937$638$429$205
32 years$1,828$1,278$874$587$388$180
33 years$1,753$1,210$816$539$351$158
34 years$1,683$1,147$762$496$318$139
35 years$1,617$1,088$713$457$288$122
36 years$1,555$1,033$667$421$261$107
37 years$1,496$981$624$388$237$94
38 years$1,441$932$584$357$214$83
39 years$1,388$886$548$330$194$73
40 years$1,338$843$513$304$176$64
41 years$1,291$803$481$280$160$56
42 years$1,246$764$451$259$145$50
43 years$1,204$728$424$239$132$44
44 years$1,163$694$398$221$120$38
45 years$1,125$662$373$204$109$34
46 years$1,088$632$351$188$99$30
47 years$1,052$603$329$174$90$26
48 years$1,019$575$310$161$81$23
49 years$987$549$291$148$74$20
50 years$956$525$274$137$67$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $979,000, adding $3,178 every year, while hoping to spend $24,684 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: 44/28/28 Blend
59$979,000$979,000$979,000$979,000
60$1,082,136$1,030,249$1,015,075$1,120,830
61$1,166,250$1,054,468$1,022,816$1,172,978
62$1,258,117$1,079,046$1,029,989$1,226,873
63$1,358,501$1,103,975$1,036,550$1,284,826
64$1,468,243$1,129,245$1,042,450$1,347,227
65$1,588,272$1,154,846$1,047,639$1,414,510
66$1,719,606$1,180,764$1,052,066$1,487,149
67$1,863,371$1,206,986$1,055,675$1,565,669
68$2,020,803$1,233,497$1,058,409$1,650,651
69$2,193,266$1,260,279$1,060,206$1,742,730
70$2,382,259$1,287,313$1,061,003$1,842,613
71$2,589,436$1,314,578$1,060,733$1,951,073
72$2,816,617$1,342,050$1,059,326$2,068,967
73$3,065,807$1,369,705$1,056,708$2,197,239
74$3,339,213$1,397,515$1,052,803$2,336,928
75$3,639,269$1,425,450$1,047,528$2,489,182
76$3,968,654$1,453,476$1,040,799$2,655,265
77$4,330,319$1,481,558$1,032,528$2,836,574
78$4,727,514$1,509,658$1,022,620$3,034,645
79$5,163,822$1,537,732$1,010,980$3,251,174
80$5,643,187$1,565,737$997,503$3,488,033
81$6,169,956$1,593,622$982,083$3,747,282
82$6,748,918$1,621,335$964,609$4,031,197
83$7,385,346$1,648,820$944,963$4,342,284
84$8,085,054$1,676,014$923,021$4,683,307
85$8,854,443$1,702,853$898,656$5,057,316
86$9,700,569$1,729,265$871,734$5,467,671
87$10,631,203$1,755,175$842,113$5,918,077
88$11,654,909$1,780,502$809,647$6,412,622
89$12,781,122$1,805,158$774,182$6,955,809
90$14,020,236$1,829,051$735,557$7,552,605
91$15,383,707$1,852,081$693,605$8,208,488
92$16,884,154$1,874,142$648,149$8,929,493
93$18,535,483$1,895,121$599,008$9,722,277
94$20,353,016$1,914,895$545,988$10,594,179
95$22,353,634$1,933,336$488,889$11,553,289
96$24,555,941$1,950,305$427,503$12,608,526
97$26,980,434$1,965,657$361,611$13,769,721
98$29,649,698$1,979,234$290,985$15,047,716
99$32,588,621$1,990,870$215,387$16,454,459
100$35,824,625$2,000,388$134,568$18,003,124