Can I retire at age 60 with 987,000?

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 $987,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$81,506$80,780$80,071$79,380$78,705$76,338
2 years$40,349$39,598$38,870$38,163$37,478$35,114
3 years$26,632$25,878$25,151$24,452$23,778$21,490
4 years$19,775$19,023$18,304$17,616$16,959$14,765
5 years$15,662$14,914$14,204$13,531$12,892$10,797
6 years$12,921$12,178$11,479$10,821$10,201$8,208
7 years$10,963$10,227$9,539$8,896$8,296$6,405
8 years$9,496$8,767$8,090$7,463$6,882$5,092
9 years$8,356$7,633$6,968$6,357$5,796$4,104
10 years$7,444$6,728$6,075$5,480$4,938$3,343
11 years$6,698$5,990$5,348$4,769$4,247$2,745
12 years$6,077$5,376$4,746$4,183$3,680$2,269
13 years$5,552$4,858$4,241$3,693$3,209$1,885
14 years$5,102$4,416$3,810$3,278$2,813$1,572
15 years$4,713$4,034$3,440$2,924$2,477$1,316
16 years$4,373$3,701$3,119$2,618$2,189$1,105
17 years$4,073$3,409$2,838$2,352$1,941$930
18 years$3,806$3,150$2,591$2,120$1,726$784
19 years$3,568$2,919$2,372$1,915$1,538$662
20 years$3,355$2,713$2,177$1,735$1,374$560
21 years$3,161$2,527$2,002$1,574$1,230$474
22 years$2,986$2,359$1,845$1,431$1,102$401
23 years$2,826$2,206$1,704$1,304$989$340
24 years$2,679$2,067$1,576$1,189$889$289
25 years$2,545$1,940$1,459$1,086$800$245
26 years$2,421$1,823$1,354$993$721$208
27 years$2,306$1,716$1,257$909$650$177
28 years$2,200$1,617$1,168$833$586$150
29 years$2,101$1,525$1,087$764$530$128
30 years$2,009$1,440$1,013$701$478$109
31 years$1,923$1,362$944$644$433$93
32 years$1,843$1,288$881$591$391$79
33 years$1,768$1,220$823$544$354$67
34 years$1,697$1,156$769$500$321$57
35 years$1,630$1,097$719$461$290$49
36 years$1,568$1,041$672$424$263$41
37 years$1,508$989$629$391$238$35
38 years$1,452$940$589$360$216$30
39 years$1,400$893$552$332$196$26
40 years$1,349$850$517$306$178$22
41 years$1,302$809$485$283$161$19
42 years$1,257$771$455$261$146$16
43 years$1,214$734$427$241$133$13
44 years$1,173$700$401$222$121$11
45 years$1,134$667$376$205$109$10
46 years$1,097$637$354$190$99$8
47 years$1,061$608$332$175$90$7
48 years$1,027$580$312$162$82$6
49 years$995$554$293$150$74$5
50 years$964$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 $987,000, adding $3,324 every year, while hoping to spend $52,898 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: 59/14/27 Blend
59$987,000$987,000$987,000$987,000
60$1,091,103$1,038,792$1,023,493$1,147,310
61$1,146,112$1,033,409$1,001,497$1,180,691
62$1,204,960$1,025,991$976,991$1,211,159
63$1,267,981$1,016,379$949,836$1,243,284
64$1,335,544$1,004,411$919,884$1,277,240
65$1,408,052$989,910$886,983$1,313,222
66$1,485,950$972,692$850,973$1,351,445
67$1,569,722$952,559$811,687$1,392,150
68$1,659,904$929,305$768,948$1,435,606
69$1,757,082$902,708$722,576$1,482,110
70$1,861,899$872,536$672,377$1,531,995
71$1,975,064$838,542$618,153$1,585,627
72$2,097,355$800,464$559,695$1,643,418
73$2,229,625$758,027$496,785$1,705,820
74$2,372,815$710,938$429,195$1,773,339
75$2,527,956$658,889$356,688$1,846,534
76$2,696,186$601,552$279,015$1,926,026
77$2,878,751$538,583$195,916$2,012,506
78$3,077,026$469,616$107,122$2,106,736
79$3,292,522$394,266$12,349$2,209,563
80$3,526,899$312,125$0$2,321,927
81$3,781,987$222,764$0$2,470,447
82$4,059,798$125,727$0$2,636,154
83$4,362,545$20,535$0$2,816,855
84$4,692,664$0$0$3,014,059
85$5,052,837$0$0$3,243,808
86$5,446,016$0$0$3,498,139
87$5,875,449$0$0$3,776,001
88$6,344,714$0$0$4,079,719
89$6,857,748$0$0$4,411,850
90$7,418,886$0$0$4,775,213
91$8,032,903$0$0$5,172,910
92$8,705,053$0$0$5,608,356
93$9,441,126$0$0$6,085,314
94$10,247,496$0$0$6,607,926
95$11,131,181$0$0$7,180,755
96$12,099,913$0$0$7,808,825
97$13,162,207$0$0$8,497,670
98$14,327,440$0$0$9,253,387
99$15,605,941$0$0$10,082,689
100$17,009,087$0$0$10,992,972