Can I retire at age 60 with 992,000?

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 $992,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$81,918$81,189$80,477$79,782$79,103$78,018
2 years$40,554$39,798$39,066$38,357$37,668$36,577
3 years$26,767$26,009$25,279$24,576$23,898$22,834
4 years$19,875$19,119$18,396$17,705$17,044$16,016
5 years$15,741$14,990$14,276$13,599$12,957$11,968
6 years$12,986$12,240$11,537$10,876$10,252$9,303
7 years$11,019$10,279$9,588$8,941$8,338$7,429
8 years$9,544$8,811$8,131$7,501$6,917$6,049
9 years$8,398$7,672$7,003$6,389$5,825$4,997
10 years$7,481$6,762$6,106$5,507$4,963$4,174
11 years$6,732$6,020$5,375$4,793$4,269$3,518
12 years$6,108$5,403$4,770$4,204$3,699$2,986
13 years$5,580$4,883$4,262$3,712$3,226$2,550
14 years$5,128$4,439$3,829$3,295$2,828$2,187
15 years$4,737$4,055$3,458$2,938$2,490$1,884
16 years$4,395$3,720$3,135$2,631$2,200$1,628
17 years$4,093$3,426$2,852$2,364$1,951$1,411
18 years$3,826$3,166$2,604$2,130$1,735$1,226
19 years$3,587$2,934$2,384$1,925$1,546$1,067
20 years$3,371$2,726$2,188$1,743$1,381$931
21 years$3,177$2,540$2,012$1,582$1,236$813
22 years$3,001$2,371$1,855$1,439$1,108$711
23 years$2,840$2,217$1,712$1,310$994$622
24 years$2,693$2,077$1,584$1,195$894$545
25 years$2,558$1,950$1,467$1,091$804$478
26 years$2,433$1,832$1,360$998$725$420
27 years$2,318$1,724$1,263$913$653$369
28 years$2,211$1,625$1,174$837$589$324
29 years$2,112$1,533$1,093$767$532$285
30 years$2,019$1,448$1,018$704$481$251
31 years$1,933$1,368$949$647$435$221
32 years$1,852$1,295$885$594$393$194
33 years$1,777$1,226$827$547$356$171
34 years$1,705$1,162$772$503$322$151
35 years$1,639$1,102$722$463$292$133
36 years$1,576$1,046$676$426$264$117
37 years$1,516$994$632$393$240$103
38 years$1,460$944$592$362$217$91
39 years$1,407$898$555$334$197$80
40 years$1,356$854$520$308$179$71
41 years$1,308$813$488$284$162$62
42 years$1,263$775$457$262$147$55
43 years$1,220$738$429$242$134$49
44 years$1,179$703$403$224$121$43
45 years$1,139$671$378$206$110$38
46 years$1,102$640$355$191$100$33
47 years$1,066$611$334$176$91$29
48 years$1,032$583$314$163$82$26
49 years$1,000$557$295$150$75$23
50 years$969$532$277$139$68$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $992,000, adding $3,307 every year, while hoping to spend $48,198 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: 41/30/29 Blend
59$992,000$992,000$992,000$992,000
60$1,096,595$1,044,019$1,028,643$1,132,090
61$1,157,166$1,043,894$1,011,820$1,157,998
62$1,222,299$1,042,147$992,819$1,181,289
63$1,292,409$1,038,648$971,514$1,205,590
64$1,367,952$1,033,259$947,777$1,231,026
65$1,449,428$1,025,833$921,472$1,257,734
66$1,537,385$1,016,215$892,457$1,285,873
67$1,632,428$1,004,238$860,584$1,315,618
68$1,735,219$989,730$825,697$1,347,168
69$1,846,487$972,503$787,634$1,380,745
70$1,967,035$952,361$746,226$1,416,599
71$2,097,743$929,098$701,295$1,455,010
72$2,239,581$902,491$652,656$1,496,290
73$2,393,614$872,309$600,116$1,540,790
74$2,561,014$838,304$543,471$1,588,902
75$2,743,072$800,215$482,512$1,641,062
76$2,941,206$757,767$417,017$1,697,760
77$3,156,978$710,666$346,755$1,759,539
78$3,392,105$658,603$271,487$1,827,007
79$3,648,477$601,253$190,960$1,900,839
80$3,928,177$538,270$104,912$1,981,789
81$4,233,494$469,288$13,070$2,070,695
82$4,566,950$393,922$0$2,168,490
83$4,931,320$311,766$0$2,302,493
84$5,329,660$222,387$0$2,453,597
85$5,765,333$125,332$0$2,619,131
86$6,242,045$20,122$0$2,800,615
87$6,763,874$0$0$2,999,733
88$7,335,312$0$0$3,249,293
89$7,961,304$0$0$3,530,083
90$8,647,297$0$0$3,837,919
91$9,399,291$0$0$4,175,508
92$10,223,893$0$0$4,545,834
93$11,128,379$0$0$4,952,183
94$12,120,764$0$0$5,398,173
95$13,209,878$0$0$5,887,792
96$14,405,444$0$0$6,425,431
97$15,718,174$0$0$7,015,927
98$17,159,870$0$0$7,664,609
99$18,743,529$0$0$8,377,349
100$20,483,473$0$0$9,160,612