Can I retire at age 60 with 991,000?

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 $991,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$81,836$81,107$80,396$79,702$79,024$75,888
2 years$40,513$39,758$39,027$38,318$37,630$34,510
3 years$26,740$25,982$25,253$24,551$23,874$20,868
4 years$19,855$19,100$18,378$17,687$17,027$14,158
5 years$15,725$14,975$14,262$13,586$12,944$10,218
6 years$12,973$12,228$11,526$10,865$10,242$7,662
7 years$11,008$10,269$9,578$8,932$8,330$5,894
8 years$9,535$8,802$8,123$7,493$6,910$4,617
9 years$8,389$7,664$6,996$6,382$5,819$3,664
10 years$7,474$6,755$6,099$5,502$4,958$2,938
11 years$6,725$6,014$5,370$4,788$4,264$2,374
12 years$6,102$5,398$4,766$4,200$3,695$1,929
13 years$5,575$4,878$4,258$3,708$3,222$1,576
14 years$5,123$4,434$3,826$3,291$2,825$1,292
15 years$4,732$4,051$3,454$2,935$2,487$1,062
16 years$4,391$3,716$3,132$2,628$2,198$876
17 years$4,089$3,423$2,850$2,362$1,949$723
18 years$3,822$3,163$2,601$2,128$1,733$599
19 years$3,583$2,931$2,381$1,923$1,545$496
20 years$3,368$2,724$2,186$1,742$1,380$411
21 years$3,174$2,537$2,010$1,581$1,235$342
22 years$2,998$2,368$1,853$1,437$1,107$284
23 years$2,837$2,215$1,711$1,309$993$236
24 years$2,690$2,075$1,582$1,194$893$196
25 years$2,555$1,948$1,465$1,090$804$163
26 years$2,430$1,830$1,359$997$724$136
27 years$2,315$1,723$1,262$912$653$113
28 years$2,209$1,623$1,173$836$589$94
29 years$2,110$1,531$1,092$767$532$79
30 years$2,017$1,446$1,017$704$480$66
31 years$1,931$1,367$948$646$434$55
32 years$1,850$1,294$885$594$393$46
33 years$1,775$1,225$826$546$356$38
34 years$1,704$1,161$772$502$322$32
35 years$1,637$1,101$721$463$292$26
36 years$1,574$1,045$675$426$264$22
37 years$1,515$993$632$392$239$18
38 years$1,458$943$592$362$217$15
39 years$1,405$897$554$334$197$13
40 years$1,355$854$519$308$179$11
41 years$1,307$812$487$284$162$9
42 years$1,262$774$457$262$147$7
43 years$1,219$737$429$242$133$6
44 years$1,177$703$402$223$121$5
45 years$1,138$670$378$206$110$4
46 years$1,101$639$355$190$100$4
47 years$1,065$610$333$176$91$3
48 years$1,031$582$313$163$82$2
49 years$999$556$295$150$75$2
50 years$968$531$277$139$68$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $991,000, adding $4,227 every year, while hoping to spend $48,345 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: 60/19/21 Blend
59$991,000$991,000$991,000$991,000
60$1,096,442$1,043,919$1,028,559$1,155,926
61$1,156,841$1,043,632$1,011,577$1,196,446
62$1,221,779$1,041,711$992,405$1,234,965
63$1,291,670$1,038,025$970,921$1,275,909
64$1,366,966$1,032,434$946,992$1,319,521
65$1,448,164$1,024,790$920,484$1,366,070
66$1,535,810$1,014,938$891,253$1,415,856
67$1,630,503$1,002,711$859,151$1,469,210
68$1,732,904$987,933$824,021$1,526,498
69$1,843,736$970,417$785,702$1,588,129
70$1,963,796$949,967$744,022$1,654,552
71$2,093,961$926,373$698,804$1,726,267
72$2,235,193$899,413$649,862$1,803,825
73$2,388,551$868,853$597,001$1,887,839
74$2,555,201$834,445$540,019$1,978,985
75$2,736,425$795,925$478,702$2,078,013
76$2,933,632$753,017$412,830$2,185,751
77$3,148,374$705,427$342,172$2,303,118
78$3,382,358$652,843$266,484$2,431,127
79$3,637,463$594,937$185,517$2,570,902
80$3,915,757$531,362$99,005$2,723,683
81$4,219,517$461,751$6,673$2,890,842
82$4,551,247$385,716$0$3,073,896
83$4,913,706$302,848$0$3,295,107
84$5,309,930$212,713$0$3,538,679
85$5,743,262$114,855$0$3,805,232
86$6,217,383$8,791$0$4,097,106
87$6,736,346$0$0$4,416,877
88$7,304,614$0$0$4,789,548
89$7,927,102$0$0$5,199,869
90$8,609,223$0$0$5,649,579
91$9,356,937$0$0$6,142,618
92$10,176,809$0$0$6,683,325
93$11,076,070$0$0$7,276,481
94$12,062,685$0$0$7,927,350
95$13,145,425$0$0$8,641,730
96$14,333,954$0$0$9,426,009
97$15,638,915$0$0$10,287,224
98$17,072,033$0$0$11,233,125
99$18,646,225$0$0$12,272,252
100$20,375,719$0$0$13,414,009