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%17.6%
1 years$81,423$80,698$79,990$79,299$78,625$76,200
2 years$40,308$39,558$38,830$38,125$37,440$35,018
3 years$26,605$25,851$25,126$24,427$23,754$21,411
4 years$19,755$19,004$18,285$17,598$16,941$14,695
5 years$15,646$14,899$14,190$13,517$12,879$10,735
6 years$12,908$12,166$11,468$10,810$10,190$8,152
7 years$10,952$10,217$9,530$8,887$8,288$6,354
8 years$9,487$8,758$8,082$7,455$6,875$5,045
9 years$8,347$7,625$6,961$6,350$5,790$4,062
10 years$7,436$6,721$6,069$5,474$4,933$3,304
11 years$6,691$5,984$5,343$4,764$4,243$2,710
12 years$6,071$5,371$4,742$4,179$3,677$2,236
13 years$5,546$4,853$4,236$3,689$3,206$1,855
14 years$5,097$4,412$3,806$3,275$2,811$1,546
15 years$4,708$4,030$3,437$2,921$2,475$1,292
16 years$4,368$3,698$3,116$2,615$2,187$1,083
17 years$4,069$3,405$2,835$2,350$1,939$910
18 years$3,803$3,147$2,588$2,117$1,724$766
19 years$3,565$2,916$2,369$1,913$1,537$646
20 years$3,351$2,710$2,174$1,733$1,373$545
21 years$3,158$2,524$2,000$1,573$1,228$461
22 years$2,983$2,356$1,843$1,430$1,101$390
23 years$2,823$2,204$1,702$1,302$988$330
24 years$2,676$2,065$1,574$1,188$888$280
25 years$2,542$1,938$1,458$1,085$799$237
26 years$2,418$1,821$1,352$992$720$201
27 years$2,304$1,714$1,256$908$649$171
28 years$2,198$1,615$1,167$832$586$145
29 years$2,099$1,524$1,086$763$529$123
30 years$2,007$1,439$1,012$700$478$104
31 years$1,921$1,360$943$643$432$89
32 years$1,841$1,287$880$591$391$75
33 years$1,766$1,219$822$543$354$64
34 years$1,695$1,155$768$500$320$54
35 years$1,629$1,096$718$460$290$46
36 years$1,566$1,040$672$424$263$39
37 years$1,507$988$629$391$238$33
38 years$1,451$939$589$360$216$28
39 years$1,398$893$551$332$196$24
40 years$1,348$849$517$306$178$21
41 years$1,300$808$485$282$161$17
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 $4,074 every year, while hoping to spend $21,812 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: 29/50/21 Blend
59$986,000$986,000$986,000$986,000
60$1,090,774$1,038,516$1,023,233$1,115,112
61$1,178,826$1,066,196$1,034,304$1,161,847
62$1,275,127$1,094,501$1,045,014$1,209,838
63$1,380,497$1,123,438$1,055,329$1,260,975
64$1,495,837$1,153,016$1,065,212$1,315,541
65$1,622,139$1,183,241$1,074,624$1,373,850
66$1,760,497$1,214,119$1,083,523$1,436,243
67$1,912,113$1,245,656$1,091,866$1,503,101
68$2,078,314$1,277,858$1,099,609$1,574,840
69$2,260,558$1,310,730$1,106,703$1,651,918
70$2,460,455$1,344,276$1,113,097$1,734,841
71$2,679,775$1,378,499$1,118,739$1,824,165
72$2,920,469$1,413,402$1,123,574$1,920,503
73$3,184,685$1,448,987$1,127,542$2,024,529
74$3,474,790$1,485,255$1,130,582$2,136,988
75$3,793,393$1,522,206$1,132,630$2,258,699
76$4,143,364$1,559,839$1,133,618$2,390,565
77$4,527,868$1,598,152$1,133,476$2,533,580
78$4,950,390$1,637,142$1,132,127$2,688,841
79$5,414,772$1,676,804$1,129,495$2,857,555
80$5,925,243$1,717,131$1,125,497$3,041,054
81$6,486,464$1,758,117$1,120,048$3,240,803
82$7,103,570$1,799,752$1,113,056$3,458,421
83$7,782,219$1,842,024$1,104,428$3,695,689
84$8,528,644$1,884,922$1,094,065$3,954,570
85$9,349,712$1,928,429$1,081,863$4,237,230
86$10,252,990$1,972,530$1,067,713$4,546,053
87$11,246,815$2,017,204$1,051,502$4,883,670
88$12,340,373$2,062,430$1,033,110$5,252,979
89$13,543,785$2,108,183$1,012,413$5,657,174
90$14,868,203$2,154,436$989,281$6,099,777
91$16,325,915$2,201,158$963,576$6,584,669
92$17,930,459$2,248,316$935,157$7,116,129
93$19,696,755$2,295,873$903,874$7,698,873
94$21,641,241$2,343,788$869,571$8,338,099
95$23,782,031$2,392,016$832,084$9,039,536
96$26,139,082$2,440,509$791,243$9,809,502
97$28,734,388$2,489,213$746,869$10,654,957
98$31,592,182$2,538,071$698,776$11,583,575
99$34,739,168$2,587,021$646,769$12,603,816
100$38,204,772$2,635,993$590,644$13,725,004