Can I retire at age 60 with 993,000?

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 $993,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$82,001$81,271$80,558$79,862$79,183$77,332
2 years$40,595$39,839$39,106$38,395$37,706$35,852
3 years$26,794$26,035$25,304$24,600$23,922$22,122
4 years$19,895$19,138$18,415$17,723$17,062$15,330
5 years$15,757$15,005$14,291$13,613$12,970$11,312
6 years$12,999$12,253$11,549$10,886$10,263$8,679
7 years$11,030$10,290$9,597$8,950$8,346$6,838
8 years$9,554$8,820$8,139$7,508$6,924$5,491
9 years$8,406$7,680$7,010$6,395$5,831$4,471
10 years$7,489$6,769$6,112$5,513$4,968$3,681
11 years$6,739$6,026$5,381$4,798$4,273$3,055
12 years$6,114$5,409$4,775$4,208$3,703$2,554
13 years$5,586$4,888$4,266$3,715$3,229$2,146
14 years$5,133$4,443$3,833$3,298$2,831$1,811
15 years$4,742$4,059$3,461$2,941$2,492$1,534
16 years$4,399$3,724$3,138$2,634$2,203$1,304
17 years$4,098$3,429$2,855$2,366$1,953$1,111
18 years$3,830$3,169$2,607$2,132$1,737$948
19 years$3,590$2,937$2,386$1,927$1,548$811
20 years$3,375$2,729$2,190$1,745$1,383$695
21 years$3,180$2,542$2,014$1,584$1,237$596
22 years$3,004$2,373$1,857$1,440$1,109$511
23 years$2,843$2,219$1,714$1,312$995$440
24 years$2,695$2,079$1,585$1,196$895$378
25 years$2,560$1,951$1,468$1,092$805$325
26 years$2,435$1,834$1,362$999$725$280
27 years$2,320$1,726$1,265$914$654$241
28 years$2,213$1,626$1,176$838$590$208
29 years$2,114$1,534$1,094$768$533$179
30 years$2,021$1,449$1,019$705$481$155
31 years$1,935$1,370$950$647$435$134
32 years$1,854$1,296$886$595$394$115
33 years$1,778$1,227$828$547$356$99
34 years$1,707$1,163$773$503$323$86
35 years$1,640$1,103$723$463$292$74
36 years$1,577$1,047$676$427$265$64
37 years$1,518$995$633$393$240$55
38 years$1,461$945$593$362$218$48
39 years$1,408$899$555$334$197$41
40 years$1,358$855$521$308$179$36
41 years$1,310$814$488$284$162$31
42 years$1,264$775$458$262$147$27
43 years$1,221$739$430$242$134$23
44 years$1,180$704$403$224$121$20
45 years$1,141$671$379$207$110$17
46 years$1,103$641$356$191$100$15
47 years$1,067$611$334$176$91$13
48 years$1,033$584$314$163$82$11
49 years$1,001$557$295$151$75$10
50 years$970$532$277$139$68$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $993,000, adding $3,045 every year, while hoping to spend $57,773 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: 61/22/17 Blend
59$993,000$993,000$993,000$993,000
60$1,097,427$1,044,798$1,029,406$1,159,445
61$1,147,894$1,034,523$1,002,422$1,191,343
62$1,201,573$1,021,808$972,596$1,219,405
63$1,258,730$1,006,473$939,775$1,248,678
64$1,319,657$988,327$903,793$1,279,287
65$1,384,673$967,166$864,481$1,311,369
66$1,454,128$942,776$821,660$1,345,078
67$1,528,407$914,930$775,144$1,380,589
68$1,607,931$883,387$724,737$1,418,094
69$1,693,159$847,893$670,235$1,457,809
70$1,784,600$808,177$611,426$1,499,974
71$1,882,807$763,957$548,088$1,544,859
72$1,988,392$714,929$479,987$1,592,763
73$2,102,022$660,775$406,881$1,644,020
74$2,224,434$601,158$328,516$1,699,002
75$2,356,433$535,722$244,629$1,758,123
76$2,498,908$464,090$154,942$1,821,844
77$2,652,831$385,866$59,168$1,890,677
78$2,819,275$300,628$0$1,965,193
79$2,999,415$207,932$0$2,053,833
80$3,194,545$107,311$0$2,161,454
81$3,406,088$0$0$2,278,154
82$3,635,608$0$0$2,405,283
83$3,884,825$0$0$2,571,594
84$4,155,632$0$0$2,752,380
85$4,450,109$0$0$2,949,038
86$4,770,547$0$0$3,163,107
87$5,119,465$0$0$3,396,279
88$5,499,636$0$0$3,650,416
89$5,914,111$0$0$3,927,568
90$6,366,248$0$0$4,229,991
91$6,859,743$0$0$4,560,168
92$7,398,665$0$0$4,920,833
93$7,987,493$0$0$5,314,995
94$8,631,157$0$0$5,745,967
95$9,335,087$0$0$6,217,396
96$10,105,260$0$0$6,733,300
97$10,948,257$0$0$7,298,100
98$11,871,325$0$0$7,916,667
99$12,882,447$0$0$8,594,364
100$13,990,411$0$0$9,337,097