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%19.5%
1 years$80,845$80,125$79,422$78,736$78,067$75,088
2 years$40,022$39,277$38,554$37,854$37,175$34,209
3 years$26,416$25,668$24,947$24,253$23,585$20,725
4 years$19,615$18,869$18,155$17,473$16,821$14,089
5 years$15,535$14,793$14,089$13,421$12,787$10,190
6 years$12,816$12,080$11,386$10,733$10,118$7,658
7 years$10,875$10,145$9,462$8,824$8,229$5,904
8 years$9,419$8,696$8,024$7,402$6,826$4,636
9 years$8,288$7,571$6,911$6,305$5,749$3,689
10 years$7,383$6,674$6,026$5,435$4,898$2,965
11 years$6,644$5,941$5,305$4,730$4,213$2,402
12 years$6,028$5,332$4,708$4,149$3,651$1,957
13 years$5,507$4,819$4,206$3,663$3,183$1,603
14 years$5,061$4,380$3,779$3,252$2,791$1,318
15 years$4,675$4,002$3,412$2,900$2,457$1,087
16 years$4,337$3,671$3,094$2,596$2,172$899
17 years$4,040$3,381$2,815$2,333$1,925$745
18 years$3,776$3,124$2,570$2,102$1,712$618
19 years$3,540$2,896$2,353$1,900$1,526$514
20 years$3,327$2,691$2,159$1,721$1,363$427
21 years$3,136$2,506$1,986$1,562$1,220$356
22 years$2,961$2,340$1,830$1,420$1,093$297
23 years$2,803$2,188$1,690$1,293$981$247
24 years$2,657$2,050$1,563$1,179$882$206
25 years$2,524$1,924$1,448$1,077$794$172
26 years$2,401$1,808$1,343$985$715$144
27 years$2,287$1,702$1,247$901$645$120
28 years$2,182$1,604$1,159$826$582$101
29 years$2,084$1,513$1,079$757$525$84
30 years$1,993$1,429$1,005$695$475$70
31 years$1,908$1,351$937$638$429$59
32 years$1,828$1,278$874$587$388$49
33 years$1,753$1,210$816$539$351$41
34 years$1,683$1,147$762$496$318$34
35 years$1,617$1,088$713$457$288$29
36 years$1,555$1,033$667$421$261$24
37 years$1,496$981$624$388$237$20
38 years$1,441$932$584$357$214$17
39 years$1,388$886$548$330$194$14
40 years$1,338$843$513$304$176$12
41 years$1,291$803$481$280$160$10
42 years$1,246$764$451$259$145$8
43 years$1,204$728$424$239$132$7
44 years$1,163$694$398$221$120$6
45 years$1,125$662$373$204$109$5
46 years$1,088$632$351$188$99$4
47 years$1,052$603$329$174$90$3
48 years$1,019$575$310$161$81$3
49 years$987$549$291$148$74$2
50 years$956$525$274$137$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $979,000, adding $3,038 every year, while hoping to spend $54,713 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: 72/22/6 Blend
59$979,000$979,000$979,000$979,000
60$1,081,992$1,030,105$1,014,930$1,158,889
61$1,134,141$1,022,366$990,716$1,202,268
62$1,189,775$1,012,414$963,857$1,242,607
63$1,249,193$1,000,082$934,207$1,285,230
64$1,312,720$985,196$901,612$1,330,346
65$1,380,714$967,567$865,913$1,378,187
66$1,453,568$946,999$826,942$1,429,008
67$1,531,711$923,282$784,524$1,483,091
68$1,615,617$896,193$738,477$1,540,748
69$1,705,802$865,499$688,608$1,602,325
70$1,802,836$830,951$634,719$1,668,204
71$1,907,343$792,286$576,600$1,738,806
72$2,020,010$749,225$514,034$1,814,599
73$2,141,589$701,476$446,792$1,896,098
74$2,272,909$648,726$374,638$1,983,874
75$2,414,880$590,647$297,321$2,078,558
76$2,568,500$526,891$214,584$2,180,846
77$2,734,869$457,091$126,155$2,291,510
78$2,915,197$380,859$31,752$2,411,402
79$3,110,811$297,785$0$2,541,464
80$3,323,173$207,436$0$2,687,152
81$3,553,890$109,354$0$2,847,657
82$3,804,730$3,056$0$3,022,235
83$4,077,640$0$0$3,212,312
84$4,374,758$0$0$3,446,568
85$4,698,439$0$0$3,702,617
86$5,051,276$0$0$3,981,775
87$5,436,121$0$0$4,286,303
88$5,856,113$0$0$4,618,693
89$6,314,707$0$0$4,981,685
90$6,815,708$0$0$5,378,297
91$7,363,304$0$0$5,811,850
92$7,962,105$0$0$6,286,002
93$8,617,187$0$0$6,804,780
94$9,334,141$0$0$7,372,618
95$10,119,120$0$0$7,994,398
96$10,978,905$0$0$8,675,498
97$11,920,957$0$0$9,421,839
98$12,953,498$0$0$10,239,941
99$14,085,582$0$0$11,136,989
100$15,327,179$0$0$12,120,890