Can I retire at age 60 with 982,000?

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 $982,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$81,093$80,370$79,666$78,978$78,306$76,819
2 years$40,145$39,397$38,673$37,970$37,289$35,796
3 years$26,497$25,747$25,024$24,328$23,657$22,206
4 years$19,675$18,926$18,211$17,527$16,873$15,474
5 years$15,583$14,839$14,132$13,462$12,826$11,484
6 years$12,855$12,117$11,421$10,766$10,149$8,865
7 years$10,908$10,176$9,491$8,851$8,254$7,028
8 years$9,448$8,722$8,049$7,425$6,847$5,679
9 years$8,313$7,594$6,933$6,325$5,767$4,655
10 years$7,406$6,694$6,044$5,452$4,913$3,858
11 years$6,664$5,959$5,321$4,745$4,226$3,225
12 years$6,046$5,349$4,722$4,162$3,662$2,715
13 years$5,524$4,834$4,219$3,674$3,193$2,298
14 years$5,077$4,394$3,791$3,262$2,799$1,954
15 years$4,689$4,014$3,423$2,909$2,465$1,668
16 years$4,351$3,683$3,103$2,604$2,178$1,429
17 years$4,052$3,392$2,824$2,340$1,931$1,227
18 years$3,787$3,134$2,578$2,109$1,717$1,056
19 years$3,550$2,904$2,360$1,906$1,531$910
20 years$3,338$2,699$2,166$1,726$1,367$786
21 years$3,145$2,514$1,992$1,566$1,223$680
22 years$2,971$2,347$1,836$1,424$1,097$589
23 years$2,811$2,195$1,695$1,297$984$510
24 years$2,666$2,056$1,568$1,183$885$443
25 years$2,532$1,930$1,452$1,080$796$384
26 years$2,408$1,814$1,347$988$717$334
27 years$2,294$1,707$1,251$904$647$290
28 years$2,189$1,608$1,163$828$583$253
29 years$2,090$1,517$1,082$760$527$220
30 years$1,999$1,433$1,008$697$476$191
31 years$1,913$1,355$939$640$430$167
32 years$1,834$1,282$877$588$389$145
33 years$1,759$1,214$818$541$352$126
34 years$1,688$1,150$765$498$319$110
35 years$1,622$1,091$715$458$289$96
36 years$1,560$1,036$669$422$262$84
37 years$1,501$984$626$389$237$73
38 years$1,445$935$586$358$215$64
39 years$1,392$889$549$331$195$55
40 years$1,343$846$515$305$177$48
41 years$1,295$805$483$281$161$42
42 years$1,250$767$453$260$146$37
43 years$1,207$731$425$240$132$32
44 years$1,167$696$399$221$120$28
45 years$1,128$664$374$204$109$24
46 years$1,091$633$352$189$99$21
47 years$1,056$605$330$174$90$19
48 years$1,022$577$311$161$82$16
49 years$990$551$292$149$74$14
50 years$959$526$274$138$67$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $982,000, adding $6,402 every year, while hoping to spend $59,808 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: 46/29/25 Blend
59$982,000$982,000$982,000$982,000
60$1,088,768$1,036,722$1,021,501$1,130,770
61$1,136,187$1,023,886$992,086$1,148,185
62$1,186,438$1,008,416$959,681$1,160,719
63$1,239,747$990,121$924,123$1,173,134
64$1,296,361$968,797$885,241$1,185,448
65$1,356,550$944,228$842,856$1,197,686
66$1,420,609$916,186$796,782$1,209,881
67$1,488,861$884,429$746,824$1,222,074
68$1,561,660$848,701$692,778$1,234,312
69$1,639,394$808,732$634,431$1,246,656
70$1,722,488$764,236$571,560$1,259,176
71$1,811,407$714,909$503,934$1,271,956
72$1,906,664$660,433$431,308$1,285,096
73$2,008,816$600,467$353,430$1,298,712
74$2,118,480$534,654$270,034$1,312,937
75$2,236,330$462,617$180,845$1,327,927
76$2,363,106$383,956$85,574$1,343,862
77$2,499,622$298,248$0$1,360,948
78$2,646,769$205,049$0$1,383,715
79$2,805,529$103,886$0$1,432,778
80$2,976,980$0$0$1,485,680
81$3,162,306$0$0$1,544,692
82$3,362,807$0$0$1,644,492
83$3,579,915$0$0$1,752,652
84$3,815,202$0$0$1,869,968
85$4,070,397$0$0$1,997,315
86$4,347,403$0$0$2,135,654
87$4,648,311$0$0$2,286,044
88$4,975,422$0$0$2,449,650
89$5,331,267$0$0$2,627,751
90$5,718,631$0$0$2,821,759
91$6,140,580$0$0$3,033,223
92$6,600,484$0$0$3,263,852
93$7,102,056$0$0$3,515,523
94$7,649,380$0$0$3,790,307
95$8,246,954$0$0$4,090,478
96$8,899,726$0$0$4,418,544
97$9,613,145$0$0$4,777,264
98$10,393,211$0$0$5,169,677
99$11,246,529$0$0$5,599,127
100$12,180,372$0$0$6,069,298