Can I retire at age 60 with 989,000?

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 $989,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$81,671$80,943$80,233$79,541$78,864$77,430
2 years$40,431$39,678$38,948$38,241$37,554$36,115
3 years$26,686$25,930$25,202$24,501$23,826$22,426
4 years$19,815$19,061$18,341$17,652$16,993$15,643
5 years$15,694$14,944$14,233$13,558$12,918$11,621
6 years$12,947$12,203$11,502$10,843$10,221$8,980
7 years$10,986$10,248$9,559$8,914$8,313$7,127
8 years$9,515$8,785$8,106$7,478$6,896$5,766
9 years$8,373$7,649$6,982$6,370$5,808$4,732
10 years$7,459$6,742$6,087$5,491$4,948$3,927
11 years$6,712$6,002$5,359$4,779$4,256$3,287
12 years$6,089$5,387$4,756$4,191$3,688$2,770
13 years$5,563$4,868$4,249$3,700$3,216$2,348
14 years$5,113$4,425$3,818$3,285$2,819$2,000
15 years$4,723$4,042$3,447$2,929$2,482$1,709
16 years$4,382$3,709$3,125$2,623$2,194$1,466
17 years$4,081$3,416$2,844$2,357$1,945$1,261
18 years$3,814$3,156$2,596$2,124$1,730$1,086
19 years$3,576$2,925$2,377$1,919$1,542$938
20 years$3,361$2,718$2,181$1,738$1,377$811
21 years$3,168$2,532$2,006$1,577$1,232$703
22 years$2,992$2,363$1,849$1,434$1,104$610
23 years$2,831$2,210$1,707$1,306$991$529
24 years$2,685$2,071$1,579$1,191$891$460
25 years$2,550$1,944$1,462$1,088$802$400
26 years$2,426$1,827$1,356$995$722$348
27 years$2,311$1,719$1,259$911$651$303
28 years$2,204$1,620$1,171$834$588$264
29 years$2,105$1,528$1,090$765$531$230
30 years$2,013$1,443$1,015$702$479$201
31 years$1,927$1,364$946$645$433$175
32 years$1,847$1,291$883$593$392$153
33 years$1,771$1,223$824$545$355$133
34 years$1,700$1,159$770$501$321$116
35 years$1,634$1,099$720$462$291$101
36 years$1,571$1,043$674$425$264$89
37 years$1,511$991$630$392$239$77
38 years$1,455$942$590$361$217$68
39 years$1,402$895$553$333$196$59
40 years$1,352$852$518$307$178$52
41 years$1,304$811$486$283$162$45
42 years$1,259$772$456$261$147$39
43 years$1,216$736$428$241$133$34
44 years$1,175$701$402$223$121$30
45 years$1,136$669$377$206$110$26
46 years$1,099$638$354$190$100$23
47 years$1,063$609$333$176$90$20
48 years$1,029$581$313$162$82$18
49 years$997$555$294$150$75$15
50 years$966$530$276$139$68$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $989,000, adding $6,681 every year, while hoping to spend $38,968 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: 81/6/13 Blend
59$989,000$989,000$989,000$989,000
60$1,096,769$1,044,352$1,029,023$1,182,365
61$1,167,178$1,054,064$1,022,034$1,249,233
62$1,243,463$1,062,946$1,013,504$1,316,856
63$1,326,181$1,070,915$1,003,342$1,389,950
64$1,415,947$1,077,885$991,449$1,469,042
65$1,513,436$1,083,764$977,725$1,554,718
66$1,619,390$1,088,452$962,062$1,647,618
67$1,734,626$1,091,844$944,349$1,748,451
68$1,860,043$1,093,830$924,470$1,857,997
69$1,996,630$1,094,290$902,303$1,977,113
70$2,145,475$1,093,099$877,719$2,106,748
71$2,307,776$1,090,123$850,585$2,247,943
72$2,484,850$1,085,221$820,760$2,401,848
73$2,678,149$1,078,241$788,100$2,569,728
74$2,889,270$1,069,024$752,451$2,752,979
75$3,119,970$1,057,401$713,653$2,953,138
76$3,372,186$1,043,192$671,538$3,171,900
77$3,648,047$1,026,207$625,934$3,411,130
78$3,949,902$1,006,245$576,656$3,672,887
79$4,280,333$983,092$523,515$3,959,438
80$4,642,185$956,522$466,311$4,273,282
81$5,038,592$926,296$404,837$4,617,173
82$5,473,004$892,160$338,875$4,994,145
83$5,949,221$853,846$268,198$5,407,544
84$6,471,428$811,071$192,569$5,861,056
85$7,044,235$763,535$111,741$6,358,743
86$7,672,719$710,920$25,457$6,905,083
87$8,362,473$652,891$0$7,505,011
88$9,119,656$589,094$0$8,173,208
89$9,951,055$519,153$0$8,910,795
90$10,864,143$442,673$0$9,720,884
91$11,867,157$359,235$0$10,610,800
92$12,969,166$268,396$0$11,588,611
93$14,180,164$169,691$0$12,663,208
94$15,511,161$62,626$0$13,844,386
95$16,974,284$0$0$15,142,941
96$18,582,898$0$0$16,574,284
97$20,351,723$0$0$18,152,757
98$22,296,979$0$0$19,888,703
99$24,436,537$0$0$21,798,074
100$26,790,085$0$0$23,898,442