Can I retire at age 60 with 982,000?

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 $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%19.8%
1 years$81,093$80,370$79,666$78,978$78,306$75,229
2 years$40,145$39,397$38,673$37,970$37,289$34,226
3 years$26,497$25,747$25,024$24,328$23,657$20,706
4 years$19,675$18,926$18,211$17,527$16,873$14,055
5 years$15,583$14,839$14,132$13,462$12,826$10,149
6 years$12,855$12,117$11,421$10,766$10,149$7,614
7 years$10,908$10,176$9,491$8,851$8,254$5,861
8 years$9,448$8,722$8,049$7,425$6,847$4,593
9 years$8,313$7,594$6,933$6,325$5,767$3,648
10 years$7,406$6,694$6,044$5,452$4,913$2,927
11 years$6,664$5,959$5,321$4,745$4,226$2,366
12 years$6,046$5,349$4,722$4,162$3,662$1,925
13 years$5,524$4,834$4,219$3,674$3,193$1,573
14 years$5,077$4,394$3,791$3,262$2,799$1,290
15 years$4,689$4,014$3,423$2,909$2,465$1,062
16 years$4,351$3,683$3,103$2,604$2,178$876
17 years$4,052$3,392$2,824$2,340$1,931$724
18 years$3,787$3,134$2,578$2,109$1,717$600
19 years$3,550$2,904$2,360$1,906$1,531$497
20 years$3,338$2,699$2,166$1,726$1,367$413
21 years$3,145$2,514$1,992$1,566$1,223$343
22 years$2,971$2,347$1,836$1,424$1,097$285
23 years$2,811$2,195$1,695$1,297$984$237
24 years$2,666$2,056$1,568$1,183$885$198
25 years$2,532$1,930$1,452$1,080$796$165
26 years$2,408$1,814$1,347$988$717$137
27 years$2,294$1,707$1,251$904$647$114
28 years$2,189$1,608$1,163$828$583$95
29 years$2,090$1,517$1,082$760$527$79
30 years$1,999$1,433$1,008$697$476$66
31 years$1,913$1,355$939$640$430$55
32 years$1,834$1,282$877$588$389$46
33 years$1,759$1,214$818$541$352$38
34 years$1,688$1,150$765$498$319$32
35 years$1,622$1,091$715$458$289$27
36 years$1,560$1,036$669$422$262$22
37 years$1,501$984$626$389$237$19
38 years$1,445$935$586$358$215$16
39 years$1,392$889$549$331$195$13
40 years$1,343$846$515$305$177$11
41 years$1,295$805$483$281$161$9
42 years$1,250$767$453$260$146$8
43 years$1,207$731$425$240$132$6
44 years$1,167$696$399$221$120$5
45 years$1,128$664$374$204$109$4
46 years$1,091$633$352$189$99$4
47 years$1,056$605$330$174$90$3
48 years$1,022$577$311$161$82$3
49 years$990$551$292$149$74$2
50 years$959$526$274$138$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $982,000, adding $4,411 every year, while hoping to spend $29,136 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: 41/44/15 Blend
59$982,000$982,000$982,000$982,000
60$1,086,714$1,034,668$1,019,447$1,126,289
61$1,166,558$1,054,366$1,022,598$1,174,376
62$1,253,570$1,074,053$1,024,878$1,223,197
63$1,348,450$1,093,697$1,026,227$1,275,411
64$1,451,969$1,113,265$1,026,582$1,331,341
65$1,564,975$1,132,720$1,025,878$1,391,343
66$1,688,401$1,152,023$1,024,044$1,455,810
67$1,823,278$1,171,132$1,021,009$1,525,177
68$1,970,735$1,190,000$1,016,696$1,599,922
69$2,132,020$1,208,580$1,011,025$1,680,573
70$2,308,504$1,226,818$1,003,912$1,767,713
71$2,501,698$1,244,659$995,271$1,861,986
72$2,713,267$1,262,043$985,008$1,964,101
73$2,945,042$1,278,906$973,028$2,074,841
74$3,199,042$1,295,177$959,229$2,195,071
75$3,477,488$1,310,785$943,507$2,325,745
76$3,782,828$1,325,650$925,751$2,467,916
77$4,117,758$1,339,688$905,845$2,622,744
78$4,485,247$1,352,810$883,669$2,791,511
79$4,888,566$1,364,921$859,095$2,975,632
80$5,331,316$1,375,919$831,991$3,176,666
81$5,817,466$1,385,695$802,219$3,396,336
82$6,351,388$1,394,134$769,633$3,636,540
83$6,937,897$1,401,114$734,083$3,899,376
84$7,582,298$1,406,504$695,411$4,187,153
85$8,290,435$1,410,165$653,449$4,502,425
86$9,068,746$1,411,950$608,027$4,848,005
87$9,924,325$1,411,702$558,962$5,226,997
88$10,864,985$1,409,255$506,067$5,642,826
89$11,899,337$1,404,432$449,144$6,099,270
90$13,036,866$1,397,046$387,986$6,600,498
91$14,288,022$1,386,897$322,380$7,151,104
92$15,664,320$1,373,775$252,099$7,756,161
93$17,178,447$1,357,455$176,911$8,421,259
94$18,844,380$1,337,702$96,568$9,152,569
95$20,677,520$1,314,263$10,817$9,956,893
96$22,694,838$1,286,873$0$10,841,733
97$24,915,031$1,255,249$0$11,828,281
98$27,358,701$1,219,094$0$12,915,434
99$30,048,549$1,178,090$0$14,111,569
100$33,009,589$1,131,903$0$15,427,833