Can I retire at age 60 with 984,000?

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 $984,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$81,258$80,534$79,828$79,139$78,466$75,863
2 years$40,227$39,477$38,751$38,047$37,365$34,768
3 years$26,551$25,799$25,075$24,377$23,706$21,196
4 years$19,715$18,965$18,248$17,562$16,907$14,504
5 years$15,614$14,869$14,161$13,490$12,852$10,562
6 years$12,881$12,141$11,444$10,788$10,170$7,994
7 years$10,930$10,196$9,510$8,869$8,271$6,210
8 years$9,467$8,740$8,065$7,440$6,861$4,913
9 years$8,330$7,610$6,947$6,337$5,778$3,941
10 years$7,421$6,708$6,056$5,463$4,923$3,194
11 years$6,678$5,972$5,332$4,754$4,234$2,609
12 years$6,059$5,360$4,732$4,170$3,669$2,145
13 years$5,535$4,844$4,228$3,682$3,200$1,772
14 years$5,087$4,403$3,799$3,268$2,805$1,470
15 years$4,699$4,022$3,430$2,915$2,470$1,224
16 years$4,359$3,690$3,109$2,610$2,183$1,021
17 years$4,060$3,398$2,829$2,345$1,935$854
18 years$3,795$3,140$2,583$2,113$1,721$716
19 years$3,558$2,910$2,365$1,909$1,534$601
20 years$3,344$2,704$2,170$1,729$1,370$505
21 years$3,152$2,519$1,996$1,569$1,226$425
22 years$2,977$2,351$1,840$1,427$1,099$358
23 years$2,817$2,199$1,699$1,300$986$301
24 years$2,671$2,061$1,571$1,185$887$254
25 years$2,537$1,934$1,455$1,083$798$214
26 years$2,413$1,817$1,349$990$719$181
27 years$2,299$1,710$1,253$906$648$153
28 years$2,193$1,612$1,165$830$585$129
29 years$2,095$1,520$1,084$761$528$109
30 years$2,003$1,436$1,010$699$477$92
31 years$1,917$1,357$941$642$431$78
32 years$1,837$1,284$878$590$390$66
33 years$1,762$1,216$820$542$353$56
34 years$1,692$1,153$766$499$320$47
35 years$1,625$1,093$716$459$290$40
36 years$1,563$1,038$670$423$262$34
37 years$1,504$986$627$390$238$28
38 years$1,448$937$587$359$216$24
39 years$1,395$891$550$331$195$20
40 years$1,345$847$516$305$177$17
41 years$1,298$807$484$282$161$15
42 years$1,253$768$454$260$146$12
43 years$1,210$732$426$240$132$10
44 years$1,169$698$400$222$120$9
45 years$1,130$665$375$205$109$7
46 years$1,093$635$352$189$99$6
47 years$1,058$606$331$175$90$5
48 years$1,024$578$311$161$82$5
49 years$992$552$292$149$74$4
50 years$961$528$275$138$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $984,000, adding $6,533 every year, while hoping to spend $36,982 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: 44/44/12 Blend
59$984,000$984,000$984,000$984,000
60$1,091,107$1,038,955$1,023,703$1,135,081
61$1,163,051$1,050,515$1,018,648$1,177,921
62$1,241,094$1,061,402$1,012,185$1,220,074
63$1,325,819$1,071,544$1,004,227$1,264,939
64$1,417,868$1,080,865$994,683$1,312,783
65$1,517,944$1,089,281$983,459$1,363,897
66$1,626,826$1,096,707$970,456$1,418,605
67$1,745,366$1,103,050$955,570$1,477,266
68$1,874,504$1,108,210$938,692$1,540,276
69$2,015,274$1,112,083$919,709$1,608,075
70$2,168,814$1,114,557$898,502$1,681,147
71$2,336,377$1,115,514$874,945$1,760,030
72$2,519,341$1,114,828$848,909$1,845,319
73$2,719,223$1,112,364$820,258$1,937,671
74$2,937,696$1,107,982$788,848$2,037,812
75$3,176,598$1,101,530$754,531$2,146,548
76$3,437,954$1,092,848$717,151$2,264,766
77$3,723,995$1,081,767$676,546$2,393,450
78$4,037,176$1,068,107$632,544$2,533,687
79$4,380,202$1,051,679$584,968$2,686,678
80$4,756,050$1,032,278$533,632$2,853,751
81$5,168,000$1,009,693$478,342$3,036,373
82$5,619,665$983,697$418,895$3,236,167
83$6,115,022$954,049$355,079$3,454,925
84$6,658,453$920,497$286,673$3,694,626
85$7,254,785$882,770$213,446$3,957,459
86$7,909,333$840,586$135,157$4,245,841
87$8,627,954$793,644$51,553$4,562,440
88$9,417,099$741,626$0$4,910,206
89$10,283,872$684,194$0$5,297,218
90$11,236,102$620,995$0$5,729,607
91$12,282,413$551,653$0$6,204,774
92$13,432,305$475,770$0$6,727,140
93$14,696,245$392,927$0$7,301,589
94$16,085,762$302,680$0$7,933,504
95$17,613,560$204,562$0$8,628,831
96$19,293,636$98,079$0$9,394,128
97$21,141,410$0$0$10,236,629
98$23,173,872$0$0$11,172,691
99$25,409,739$0$0$12,254,807
100$27,869,638$0$0$13,445,488