Can I retire at age 60 with 983,000?

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 $983,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$81,175$80,452$79,747$79,058$78,386$77,599
2 years$40,186$39,437$38,712$38,009$37,327$36,535
3 years$26,524$25,773$25,049$24,353$23,682$22,908
4 years$19,695$18,946$18,229$17,545$16,890$16,142
5 years$15,599$14,854$14,147$13,476$12,839$12,118
6 years$12,868$12,129$11,433$10,777$10,159$9,466
7 years$10,919$10,186$9,501$8,860$8,262$7,597
8 years$9,458$8,731$8,057$7,433$6,854$6,218
9 years$8,322$7,602$6,940$6,331$5,772$5,164
10 years$7,413$6,701$6,050$5,457$4,918$4,337
11 years$6,671$5,965$5,327$4,750$4,230$3,676
12 years$6,052$5,354$4,727$4,166$3,666$3,138
13 years$5,530$4,839$4,223$3,678$3,196$2,695
14 years$5,082$4,398$3,795$3,265$2,802$2,326
15 years$4,694$4,018$3,426$2,912$2,467$2,015
16 years$4,355$3,686$3,106$2,607$2,180$1,753
17 years$4,056$3,395$2,827$2,342$1,933$1,529
18 years$3,791$3,137$2,580$2,111$1,719$1,337
19 years$3,554$2,907$2,362$1,907$1,532$1,171
20 years$3,341$2,702$2,168$1,728$1,369$1,028
21 years$3,148$2,517$1,994$1,568$1,225$904
22 years$2,974$2,349$1,838$1,426$1,098$796
23 years$2,814$2,197$1,697$1,298$985$702
24 years$2,668$2,059$1,569$1,184$886$619
25 years$2,534$1,932$1,454$1,081$797$547
26 years$2,411$1,816$1,348$989$718$484
27 years$2,297$1,709$1,252$905$647$428
28 years$2,191$1,610$1,164$829$584$379
29 years$2,093$1,519$1,083$760$527$336
30 years$2,001$1,434$1,009$698$477$298
31 years$1,915$1,356$940$641$431$264
32 years$1,835$1,283$877$589$390$234
33 years$1,760$1,215$819$542$353$208
34 years$1,690$1,152$765$498$319$184
35 years$1,624$1,092$716$459$289$164
36 years$1,561$1,037$669$423$262$145
37 years$1,502$985$627$389$238$129
38 years$1,447$936$587$359$215$115
39 years$1,394$890$550$331$195$102
40 years$1,344$847$515$305$177$91
41 years$1,297$806$483$282$161$80
42 years$1,252$768$453$260$146$72
43 years$1,209$731$425$240$132$64
44 years$1,168$697$399$221$120$57
45 years$1,129$665$375$205$109$50
46 years$1,092$634$352$189$99$45
47 years$1,057$605$331$175$90$40
48 years$1,023$578$311$161$82$35
49 years$991$552$292$149$74$31
50 years$960$527$275$138$67$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $983,000, adding $4,185 every year, while hoping to spend $39,898 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: 53/20/27 Blend
59$983,000$983,000$983,000$983,000
60$1,087,583$1,035,484$1,020,247$1,136,838
61$1,156,065$1,043,771$1,011,974$1,179,676
62$1,230,195$1,051,128$1,002,087$1,221,854
63$1,310,508$1,057,465$990,489$1,266,955
64$1,397,589$1,062,691$977,080$1,315,274
65$1,492,085$1,066,704$961,754$1,367,138
66$1,594,706$1,069,401$944,401$1,422,909
67$1,706,232$1,070,668$924,905$1,482,986
68$1,827,524$1,070,387$903,145$1,547,814
69$1,959,525$1,068,430$878,995$1,617,883
70$2,103,278$1,064,664$852,322$1,693,735
71$2,259,925$1,058,945$822,988$1,775,969
72$2,430,727$1,051,123$790,847$1,865,251
73$2,617,069$1,041,037$755,749$1,962,313
74$2,820,479$1,028,516$717,535$2,067,968
75$3,042,635$1,013,380$676,040$2,183,112
76$3,285,387$995,439$631,090$2,308,737
77$3,550,770$974,489$582,505$2,445,939
78$3,841,025$950,316$530,097$2,595,930
79$4,158,622$922,693$473,666$2,760,049
80$4,506,276$891,380$413,009$2,939,774
81$4,886,980$856,122$347,909$3,136,741
82$5,304,030$816,649$278,142$3,352,755
83$5,761,054$772,678$203,472$3,589,810
84$6,262,048$723,907$123,656$3,850,109
85$6,811,416$670,016$38,437$4,136,085
86$7,414,003$610,671$0$4,450,425
87$8,075,152$545,513$0$4,811,222
88$8,800,742$474,168$0$5,219,425
89$9,597,253$396,238$0$5,667,648
90$10,471,822$311,303$0$6,159,973
91$11,432,309$218,918$0$6,700,895
92$12,487,376$118,616$0$7,295,375
93$13,646,562$9,902$0$7,948,880
94$14,920,378$0$0$8,667,439
95$16,320,401$0$0$9,481,409
96$17,859,389$0$0$10,378,674
97$19,551,394$0$0$11,365,259
98$21,411,899$0$0$12,450,207
99$23,457,963$0$0$13,643,479
100$25,708,380$0$0$14,956,050