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%18.2%
1 years$81,671$80,943$80,233$79,541$78,864$76,248
2 years$40,431$39,678$38,948$38,241$37,554$34,944
3 years$26,686$25,930$25,202$24,501$23,826$21,304
4 years$19,815$19,061$18,341$17,652$16,993$14,578
5 years$15,694$14,944$14,233$13,558$12,918$10,616
6 years$12,947$12,203$11,502$10,843$10,221$8,035
7 years$10,986$10,248$9,559$8,914$8,313$6,241
8 years$9,515$8,785$8,106$7,478$6,896$4,938
9 years$8,373$7,649$6,982$6,370$5,808$3,961
10 years$7,459$6,742$6,087$5,491$4,948$3,210
11 years$6,712$6,002$5,359$4,779$4,256$2,622
12 years$6,089$5,387$4,756$4,191$3,688$2,156
13 years$5,563$4,868$4,249$3,700$3,216$1,781
14 years$5,113$4,425$3,818$3,285$2,819$1,478
15 years$4,723$4,042$3,447$2,929$2,482$1,230
16 years$4,382$3,709$3,125$2,623$2,194$1,027
17 years$4,081$3,416$2,844$2,357$1,945$859
18 years$3,814$3,156$2,596$2,124$1,730$720
19 years$3,576$2,925$2,377$1,919$1,542$604
20 years$3,361$2,718$2,181$1,738$1,377$508
21 years$3,168$2,532$2,006$1,577$1,232$427
22 years$2,992$2,363$1,849$1,434$1,104$360
23 years$2,831$2,210$1,707$1,306$991$303
24 years$2,685$2,071$1,579$1,191$891$256
25 years$2,550$1,944$1,462$1,088$802$216
26 years$2,426$1,827$1,356$995$722$182
27 years$2,311$1,719$1,259$911$651$154
28 years$2,204$1,620$1,171$834$588$130
29 years$2,105$1,528$1,090$765$531$110
30 years$2,013$1,443$1,015$702$479$93
31 years$1,927$1,364$946$645$433$78
32 years$1,847$1,291$883$593$392$66
33 years$1,771$1,223$824$545$355$56
34 years$1,700$1,159$770$501$321$47
35 years$1,634$1,099$720$462$291$40
36 years$1,571$1,043$674$425$264$34
37 years$1,511$991$630$392$239$29
38 years$1,455$942$590$361$217$24
39 years$1,402$895$553$333$196$20
40 years$1,352$852$518$307$178$17
41 years$1,304$811$486$283$162$15
42 years$1,259$772$456$261$147$12
43 years$1,216$736$428$241$133$10
44 years$1,175$701$402$223$121$9
45 years$1,136$669$377$206$110$7
46 years$1,099$638$354$190$100$6
47 years$1,063$609$333$176$90$5
48 years$1,029$581$313$162$82$5
49 years$997$555$294$150$75$4
50 years$966$530$276$139$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $989,000, adding $2,311 every year, while hoping to spend $41,203 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: 61/31/8 Blend
59$989,000$989,000$989,000$989,000
60$1,092,262$1,039,845$1,024,515$1,156,903
61$1,159,833$1,046,958$1,014,997$1,207,554
62$1,232,915$1,053,038$1,003,779$1,257,842
63$1,312,027$1,057,992$990,760$1,311,671
64$1,397,740$1,061,719$975,836$1,369,385
65$1,490,679$1,064,113$958,897$1,431,360
66$1,591,535$1,065,061$939,826$1,498,014
67$1,701,066$1,064,443$918,505$1,569,808
68$1,820,105$1,062,132$894,805$1,647,251
69$1,949,571$1,057,991$868,596$1,730,904
70$2,090,472$1,051,878$839,739$1,821,389
71$2,243,920$1,043,639$808,090$1,919,390
72$2,411,136$1,033,114$773,497$2,025,664
73$2,593,466$1,020,130$735,804$2,141,046
74$2,792,390$1,004,507$694,843$2,266,460
75$3,009,537$986,052$650,444$2,402,924
76$3,246,702$964,560$602,426$2,551,563
77$3,505,859$939,817$550,600$2,713,618
78$3,789,181$911,592$494,770$2,890,460
79$4,099,063$879,646$434,730$3,083,603
80$4,438,139$843,720$370,265$3,294,718
81$4,809,311$803,544$301,151$3,525,648
82$5,215,775$758,833$227,154$3,778,429
83$5,661,050$709,281$148,030$4,055,308
84$6,149,011$654,570$63,523$4,358,765
85$6,683,926$594,359$0$4,691,537
86$7,270,495$528,291$0$5,058,920
87$7,913,895$455,987$0$5,467,907
88$8,619,829$377,048$0$5,916,771
89$9,394,579$291,050$0$6,409,599
90$10,245,061$197,547$0$6,950,896
91$11,178,899$96,068$0$7,545,631
92$12,204,486$0$0$8,199,287
93$13,331,071$0$0$8,922,645
94$14,568,843$0$0$9,753,479
95$15,929,024$0$0$10,666,560
96$17,423,979$0$0$11,670,200
97$19,067,332$0$0$12,773,554
98$20,874,088$0$0$13,986,710
99$22,860,784$0$0$15,320,780
100$25,045,634$0$0$16,788,009