Can I retire at age 60 with 981,000?

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 $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%15.6%
1 years$81,010$80,288$79,584$78,897$78,226$76,428
2 years$40,104$39,357$38,633$37,931$37,251$35,449
3 years$26,470$25,720$24,998$24,303$23,633$21,885
4 years$19,655$18,907$18,192$17,509$16,855$15,173
5 years$15,567$14,823$14,118$13,449$12,813$11,202
6 years$12,842$12,104$11,409$10,755$10,139$8,600
7 years$10,897$10,165$9,481$8,842$8,245$6,779
8 years$9,438$8,714$8,041$7,418$6,840$5,447
9 years$8,305$7,587$6,926$6,318$5,761$4,438
10 years$7,398$6,687$6,038$5,446$4,908$3,655
11 years$6,657$5,953$5,316$4,740$4,221$3,037
12 years$6,040$5,343$4,718$4,157$3,658$2,539
13 years$5,518$4,829$4,215$3,670$3,190$2,135
14 years$5,071$4,389$3,787$3,258$2,796$1,804
15 years$4,684$4,010$3,419$2,906$2,462$1,529
16 years$4,346$3,679$3,100$2,602$2,176$1,300
17 years$4,048$3,388$2,821$2,338$1,929$1,108
18 years$3,783$3,131$2,575$2,107$1,716$947
19 years$3,547$2,902$2,357$1,904$1,529$810
20 years$3,334$2,696$2,163$1,724$1,366$695
21 years$3,142$2,511$1,990$1,565$1,222$596
22 years$2,968$2,344$1,834$1,423$1,096$512
23 years$2,808$2,193$1,693$1,296$983$441
24 years$2,663$2,054$1,566$1,182$884$379
25 years$2,529$1,928$1,451$1,079$795$327
26 years$2,406$1,812$1,345$987$716$282
27 years$2,292$1,705$1,249$903$646$243
28 years$2,186$1,607$1,161$828$583$209
29 years$2,088$1,516$1,081$759$526$181
30 years$1,997$1,432$1,007$696$476$156
31 years$1,912$1,353$938$640$430$135
32 years$1,832$1,280$876$588$389$116
33 years$1,757$1,213$818$541$352$101
34 years$1,687$1,149$764$497$319$87
35 years$1,620$1,090$714$458$289$75
36 years$1,558$1,035$668$422$262$65
37 years$1,499$983$625$389$237$56
38 years$1,444$934$586$358$215$49
39 years$1,391$888$549$330$195$42
40 years$1,341$845$514$305$177$36
41 years$1,294$804$482$281$160$31
42 years$1,249$766$452$259$146$27
43 years$1,206$730$424$239$132$23
44 years$1,166$696$398$221$120$20
45 years$1,127$663$374$204$109$18
46 years$1,090$633$351$189$99$15
47 years$1,055$604$330$174$90$13
48 years$1,021$577$310$161$81$11
49 years$989$551$292$149$74$10
50 years$958$526$274$138$67$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $981,000, adding $2,091 every year, while hoping to spend $24,952 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: 79/9/12 Blend
59$981,000$981,000$981,000$981,000
60$1,083,219$1,031,226$1,016,020$1,166,202
61$1,167,158$1,055,207$1,023,508$1,245,026
62$1,258,824$1,079,527$1,030,411$1,328,054
63$1,358,976$1,104,177$1,036,682$1,418,426
64$1,468,454$1,129,144$1,042,273$1,516,865
65$1,588,181$1,154,416$1,047,134$1,624,168
66$1,719,174$1,179,981$1,051,211$1,741,211
67$1,862,551$1,205,821$1,054,448$1,868,960
68$2,019,545$1,231,921$1,056,786$2,008,480
69$2,191,514$1,258,260$1,058,164$2,160,942
70$2,379,951$1,284,818$1,058,515$2,327,639
71$2,586,504$1,311,572$1,057,773$2,509,991
72$2,812,985$1,338,496$1,055,866$2,709,568
73$3,061,390$1,365,563$1,052,719$2,928,095
74$3,333,920$1,392,744$1,048,252$3,167,473
75$3,632,995$1,420,004$1,042,385$3,429,800
76$3,961,286$1,447,309$1,035,030$3,717,384
77$4,321,731$1,474,621$1,026,097$4,032,769
78$4,717,567$1,501,897$1,015,491$4,378,759
79$5,152,362$1,529,093$1,003,113$4,758,441
80$5,630,044$1,556,160$988,859$5,175,219
81$6,154,943$1,583,046$972,620$5,632,844
82$6,731,826$1,609,694$954,281$6,135,447
83$7,365,947$1,636,044$933,724$6,687,581
84$8,063,094$1,662,031$910,825$7,294,264
85$8,829,643$1,687,584$885,451$7,961,024
86$9,672,620$1,712,629$857,467$8,693,953
87$10,599,765$1,737,085$826,729$9,499,765
88$11,619,605$1,760,867$793,089$10,385,858
89$12,741,537$1,783,881$756,390$11,360,383
90$13,975,913$1,806,031$716,468$12,432,323
91$15,334,140$1,827,210$673,154$13,611,579
92$16,828,786$1,847,306$626,267$14,909,059
93$18,473,698$1,866,200$575,623$16,336,784
94$20,284,135$1,883,764$521,026$17,908,002
95$22,276,909$1,899,861$462,273$19,637,312
96$24,470,546$1,914,346$399,151$21,540,801
97$26,885,457$1,927,065$331,439$23,636,198
98$29,544,135$1,937,852$258,903$25,943,040
99$32,471,364$1,946,534$181,304$28,482,857
100$35,694,453$1,952,924$98,387$31,279,375