Can I retire at age 60 with 986,000?

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 $986,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$81,423$80,698$79,990$79,299$78,625$76,230
2 years$40,308$39,558$38,830$38,125$37,440$35,048
3 years$26,605$25,851$25,126$24,427$23,754$21,439
4 years$19,755$19,004$18,285$17,598$16,941$14,722
5 years$15,646$14,899$14,190$13,517$12,879$10,761
6 years$12,908$12,166$11,468$10,810$10,190$8,176
7 years$10,952$10,217$9,530$8,887$8,288$6,376
8 years$9,487$8,758$8,082$7,455$6,875$5,066
9 years$8,347$7,625$6,961$6,350$5,790$4,081
10 years$7,436$6,721$6,069$5,474$4,933$3,322
11 years$6,691$5,984$5,343$4,764$4,243$2,726
12 years$6,071$5,371$4,742$4,179$3,677$2,251
13 years$5,546$4,853$4,236$3,689$3,206$1,869
14 years$5,097$4,412$3,806$3,275$2,811$1,558
15 years$4,708$4,030$3,437$2,921$2,475$1,303
16 years$4,368$3,698$3,116$2,615$2,187$1,093
17 years$4,069$3,405$2,835$2,350$1,939$919
18 years$3,803$3,147$2,588$2,117$1,724$774
19 years$3,565$2,916$2,369$1,913$1,537$653
20 years$3,351$2,710$2,174$1,733$1,373$552
21 years$3,158$2,524$2,000$1,573$1,228$467
22 years$2,983$2,356$1,843$1,430$1,101$395
23 years$2,823$2,204$1,702$1,302$988$335
24 years$2,676$2,065$1,574$1,188$888$284
25 years$2,542$1,938$1,458$1,085$799$241
26 years$2,418$1,821$1,352$992$720$205
27 years$2,304$1,714$1,256$908$649$174
28 years$2,198$1,615$1,167$832$586$148
29 years$2,099$1,524$1,086$763$529$125
30 years$2,007$1,439$1,012$700$478$107
31 years$1,921$1,360$943$643$432$91
32 years$1,841$1,287$880$591$391$77
33 years$1,766$1,219$822$543$354$65
34 years$1,695$1,155$768$500$320$56
35 years$1,629$1,096$718$460$290$47
36 years$1,566$1,040$672$424$263$40
37 years$1,507$988$629$391$238$34
38 years$1,451$939$589$360$216$29
39 years$1,398$893$551$332$196$25
40 years$1,348$849$517$306$178$21
41 years$1,300$808$485$282$161$18
42 years$1,255$770$455$261$146$15
43 years$1,212$734$427$241$133$13
44 years$1,172$699$400$222$120$11
45 years$1,133$667$376$205$109$9
46 years$1,095$636$353$190$99$8
47 years$1,060$607$332$175$90$7
48 years$1,026$579$312$162$82$6
49 years$994$553$293$150$74$5
50 years$963$529$276$138$68$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $986,000, adding $3,246 every year, while hoping to spend $47,620 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: 62/19/19 Blend
59$986,000$986,000$986,000$986,000
60$1,089,920$1,037,662$1,022,379$1,151,989
61$1,150,425$1,037,840$1,005,962$1,194,402
62$1,215,505$1,036,431$987,398$1,235,067
63$1,285,577$1,033,307$966,566$1,278,360
64$1,361,098$1,028,331$943,338$1,324,540
65$1,442,570$1,021,360$917,581$1,373,896
66$1,530,546$1,012,240$889,154$1,426,748
67$1,625,632$1,000,810$857,910$1,483,448
68$1,728,494$986,897$823,698$1,544,388
69$1,839,865$970,320$786,356$1,610,001
70$1,960,550$950,885$745,718$1,680,766
71$2,091,436$928,387$701,609$1,757,213
72$2,233,495$902,611$653,846$1,839,929
73$2,387,799$873,327$602,238$1,929,562
74$2,555,527$840,292$546,585$2,026,831
75$2,737,974$803,250$486,679$2,132,529
76$2,936,568$761,929$422,303$2,247,533
77$3,152,876$716,042$353,228$2,372,815
78$3,388,627$665,285$279,219$2,509,446
79$3,645,719$609,337$200,025$2,658,614
80$3,926,247$547,859$115,390$2,821,629
81$4,232,510$480,490$25,042$2,999,939
82$4,567,045$406,853$0$3,195,146
83$4,932,642$326,547$0$3,423,489
84$5,332,371$239,148$0$3,678,810
85$5,769,616$144,209$0$3,958,248
86$6,248,100$41,258$0$4,264,254
87$6,771,924$0$0$4,599,529
88$7,345,604$0$0$4,981,731
89$7,974,111$0$0$5,409,985
90$8,662,923$0$0$5,879,403
91$9,418,070$0$0$6,394,107
92$10,246,195$0$0$6,958,634
93$11,154,615$0$0$7,577,980
94$12,151,388$0$0$8,257,652
95$13,245,390$0$0$9,003,711
96$14,446,399$0$0$9,822,837
97$15,765,186$0$0$10,722,388
98$17,213,614$0$0$11,710,468
99$18,804,753$0$0$12,796,006
100$20,553,003$0$0$13,988,837