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%20%
1 years$81,836$81,107$80,396$79,702$79,024$75,858
2 years$40,513$39,758$39,027$38,318$37,630$34,481
3 years$26,740$25,982$25,253$24,551$23,874$20,840
4 years$19,855$19,100$18,378$17,687$17,027$14,132
5 years$15,725$14,975$14,262$13,586$12,944$10,194
6 years$12,973$12,228$11,526$10,865$10,242$7,639
7 years$11,008$10,269$9,578$8,932$8,330$5,873
8 years$9,535$8,802$8,123$7,493$6,910$4,598
9 years$8,389$7,664$6,996$6,382$5,819$3,647
10 years$7,474$6,755$6,099$5,502$4,958$2,922
11 years$6,725$6,014$5,370$4,788$4,264$2,359
12 years$6,102$5,398$4,766$4,200$3,695$1,917
13 years$5,575$4,878$4,258$3,708$3,222$1,564
14 years$5,123$4,434$3,826$3,291$2,825$1,281
15 years$4,732$4,051$3,454$2,935$2,487$1,053
16 years$4,391$3,716$3,132$2,628$2,198$868
17 years$4,089$3,423$2,850$2,362$1,949$716
18 years$3,822$3,163$2,601$2,128$1,733$592
19 years$3,583$2,931$2,381$1,923$1,545$490
20 years$3,368$2,724$2,186$1,742$1,380$406
21 years$3,174$2,537$2,010$1,581$1,235$337
22 years$2,998$2,368$1,853$1,437$1,107$280
23 years$2,837$2,215$1,711$1,309$993$233
24 years$2,690$2,075$1,582$1,194$893$193
25 years$2,555$1,948$1,465$1,090$804$161
26 years$2,430$1,830$1,359$997$724$134
27 years$2,315$1,723$1,262$912$653$111
28 years$2,209$1,623$1,173$836$589$93
29 years$2,110$1,531$1,092$767$532$77
30 years$2,017$1,446$1,017$704$480$64
31 years$1,931$1,367$948$646$434$53
32 years$1,850$1,294$885$594$393$45
33 years$1,775$1,225$826$546$356$37
34 years$1,704$1,161$772$502$322$31
35 years$1,637$1,101$721$463$292$26
36 years$1,574$1,045$675$426$264$21
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$12
40 years$1,355$854$519$308$179$10
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$3
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 $6,562 every year, while hoping to spend $21,753 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: 48/23/29 Blend
59$991,000$991,000$991,000$991,000
60$1,098,851$1,046,328$1,030,967$1,142,218
61$1,187,788$1,074,453$1,042,360$1,201,555
62$1,285,069$1,103,227$1,053,405$1,263,317
63$1,391,520$1,132,659$1,064,067$1,329,974
64$1,508,053$1,162,757$1,074,312$1,402,002
65$1,635,672$1,193,530$1,084,099$1,479,922
66$1,775,483$1,224,986$1,093,389$1,564,308
67$1,928,704$1,257,132$1,102,139$1,655,793
68$2,096,675$1,289,974$1,110,304$1,755,075
69$2,280,873$1,323,520$1,117,836$1,862,923
70$2,482,925$1,357,775$1,124,687$1,980,184
71$2,704,622$1,392,745$1,130,803$2,107,791
72$2,947,939$1,428,435$1,136,129$2,246,772
73$3,215,048$1,464,848$1,140,609$2,398,262
74$3,508,344$1,501,987$1,144,181$2,563,509
75$3,830,466$1,539,855$1,146,782$2,743,891
76$4,184,318$1,578,452$1,148,344$2,940,924
77$4,573,103$1,617,781$1,148,798$3,156,281
78$5,000,346$1,657,839$1,148,069$3,391,806
79$5,469,933$1,698,624$1,146,081$3,649,529
80$5,986,143$1,740,134$1,142,752$3,931,690
81$6,553,693$1,782,363$1,137,997$4,240,757
82$7,177,777$1,825,307$1,131,727$4,579,449
83$7,864,119$1,868,955$1,123,849$4,950,764
84$8,619,025$1,913,301$1,114,264$5,358,007
85$9,449,445$1,958,331$1,102,871$5,804,820
86$10,363,032$2,004,033$1,089,561$6,295,215
87$11,368,222$2,050,392$1,074,222$6,833,619
88$12,474,309$2,097,389$1,056,736$7,424,907
89$13,691,532$2,145,005$1,036,981$8,074,455
90$15,031,174$2,193,216$1,014,826$8,788,185
91$16,505,668$2,241,998$990,136$9,572,628
92$18,128,712$2,291,321$962,771$10,434,981
93$19,915,399$2,341,154$932,583$11,383,176
94$21,882,361$2,391,462$899,416$12,425,955
95$24,047,925$2,442,207$863,109$13,572,955
96$26,432,283$2,493,345$823,493$14,834,796
97$29,057,687$2,544,830$780,391$16,223,185
98$31,948,656$2,596,611$733,619$17,751,022
99$35,132,206$2,648,633$682,983$19,432,529
100$38,638,110$2,700,835$628,282$21,283,377