Can I retire at age 60 with 981,000?

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 $981,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$81,010$80,288$79,584$78,897$78,226$75,905
2 years$40,104$39,357$38,633$37,931$37,251$34,931
3 years$26,470$25,720$24,998$24,303$23,633$21,388
4 years$19,655$18,907$18,192$17,509$16,855$14,702
5 years$15,567$14,823$14,118$13,449$12,813$10,757
6 years$12,842$12,104$11,409$10,755$10,139$8,182
7 years$10,897$10,165$9,481$8,842$8,245$6,388
8 years$9,438$8,714$8,041$7,418$6,840$5,082
9 years$8,305$7,587$6,926$6,318$5,761$4,098
10 years$7,398$6,687$6,038$5,446$4,908$3,340
11 years$6,657$5,953$5,316$4,740$4,221$2,745
12 years$6,040$5,343$4,718$4,157$3,658$2,270
13 years$5,518$4,829$4,215$3,670$3,190$1,887
14 years$5,071$4,389$3,787$3,258$2,796$1,575
15 years$4,684$4,010$3,419$2,906$2,462$1,320
16 years$4,346$3,679$3,100$2,602$2,176$1,109
17 years$4,048$3,388$2,821$2,338$1,929$933
18 years$3,783$3,131$2,575$2,107$1,716$787
19 years$3,547$2,902$2,357$1,904$1,529$665
20 years$3,334$2,696$2,163$1,724$1,366$563
21 years$3,142$2,511$1,990$1,565$1,222$477
22 years$2,968$2,344$1,834$1,423$1,096$405
23 years$2,808$2,193$1,693$1,296$983$343
24 years$2,663$2,054$1,566$1,182$884$292
25 years$2,529$1,928$1,451$1,079$795$248
26 years$2,406$1,812$1,345$987$716$211
27 years$2,292$1,705$1,249$903$646$179
28 years$2,186$1,607$1,161$828$583$152
29 years$2,088$1,516$1,081$759$526$130
30 years$1,997$1,432$1,007$696$476$110
31 years$1,912$1,353$938$640$430$94
32 years$1,832$1,280$876$588$389$80
33 years$1,757$1,213$818$541$352$68
34 years$1,687$1,149$764$497$319$58
35 years$1,620$1,090$714$458$289$49
36 years$1,558$1,035$668$422$262$42
37 years$1,499$983$625$389$237$36
38 years$1,444$934$586$358$215$31
39 years$1,391$888$549$330$195$26
40 years$1,341$845$514$305$177$22
41 years$1,294$804$482$281$160$19
42 years$1,249$766$452$259$146$16
43 years$1,206$730$424$239$132$14
44 years$1,166$696$398$221$120$12
45 years$1,127$663$374$204$109$10
46 years$1,090$633$351$189$99$9
47 years$1,055$604$330$174$90$7
48 years$1,021$577$310$161$81$6
49 years$989$551$292$149$74$5
50 years$958$526$274$138$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $981,000, adding $2,784 every year, while hoping to spend $33,536 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: 64/17/19 Blend
59$981,000$981,000$981,000$981,000
60$1,083,934$1,031,941$1,016,735$1,147,924
61$1,158,813$1,046,824$1,015,114$1,206,154
62$1,240,206$1,061,312$1,012,314$1,265,683
63$1,328,741$1,075,351$1,008,261$1,329,926
64$1,425,112$1,088,882$1,002,877$1,399,345
65$1,530,078$1,101,842$996,078$1,474,450
66$1,644,479$1,114,165$987,779$1,555,805
67$1,769,236$1,125,779$977,890$1,644,027
68$1,905,364$1,136,609$966,316$1,739,803
69$2,053,981$1,146,572$952,957$1,843,885
70$2,216,316$1,155,584$937,710$1,957,105
71$2,393,724$1,163,551$920,467$2,080,380
72$2,587,694$1,170,375$901,113$2,214,723
73$2,799,869$1,175,953$879,530$2,361,249
74$3,032,054$1,180,174$855,593$2,521,187
75$3,286,241$1,182,919$829,173$2,695,896
76$3,564,619$1,184,064$800,132$2,886,871
77$3,869,602$1,183,475$768,328$3,095,762
78$4,203,847$1,181,011$733,613$3,324,390
79$4,570,281$1,176,522$695,830$3,574,761
80$4,972,127$1,169,849$654,818$3,849,088
81$5,412,935$1,160,823$610,405$4,149,813
82$5,896,615$1,149,264$562,415$4,479,625
83$6,427,475$1,134,983$510,661$4,841,493
84$7,010,259$1,117,779$454,949$5,238,689
85$7,650,193$1,097,437$395,078$5,674,821
86$8,353,035$1,073,733$330,835$6,153,868
87$9,125,125$1,046,427$261,999$6,680,217
88$9,973,452$1,015,266$188,339$7,258,704
89$10,905,711$979,981$109,615$7,894,665
90$11,930,381$940,288$25,576$8,593,978
91$13,056,806$895,888$0$9,363,128
92$14,295,275$846,462$0$10,222,259
93$15,657,129$791,674$0$11,172,635
94$17,154,860$731,169$0$12,217,812
95$18,802,231$664,572$0$13,367,429
96$20,614,408$591,486$0$14,632,112
97$22,608,098$511,489$0$16,023,569
98$24,801,713$424,141$0$17,554,705
99$27,215,535$328,971$0$19,239,742
100$29,871,914$225,486$0$21,094,354