Can I retire at age 60 with 993,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%17.2%
1 years$82,001$81,271$80,558$79,862$79,183$76,864
2 years$40,595$39,839$39,106$38,395$37,706$35,389
3 years$26,794$26,035$25,304$24,600$23,922$21,679
4 years$19,895$19,138$18,415$17,723$17,062$14,909
5 years$15,757$15,005$14,291$13,613$12,970$10,915
6 years$12,999$12,253$11,549$10,886$10,263$8,307
7 years$11,030$10,290$9,597$8,950$8,346$6,489
8 years$9,554$8,820$8,139$7,508$6,924$5,165
9 years$8,406$7,680$7,010$6,395$5,831$4,168
10 years$7,489$6,769$6,112$5,513$4,968$3,399
11 years$6,739$6,026$5,381$4,798$4,273$2,795
12 years$6,114$5,409$4,775$4,208$3,703$2,313
13 years$5,586$4,888$4,266$3,715$3,229$1,924
14 years$5,133$4,443$3,833$3,298$2,831$1,607
15 years$4,742$4,059$3,461$2,941$2,492$1,347
16 years$4,399$3,724$3,138$2,634$2,203$1,133
17 years$4,098$3,429$2,855$2,366$1,953$954
18 years$3,830$3,169$2,607$2,132$1,737$806
19 years$3,590$2,937$2,386$1,927$1,548$681
20 years$3,375$2,729$2,190$1,745$1,383$577
21 years$3,180$2,542$2,014$1,584$1,237$489
22 years$3,004$2,373$1,857$1,440$1,109$415
23 years$2,843$2,219$1,714$1,312$995$353
24 years$2,695$2,079$1,585$1,196$895$300
25 years$2,560$1,951$1,468$1,092$805$255
26 years$2,435$1,834$1,362$999$725$217
27 years$2,320$1,726$1,265$914$654$185
28 years$2,213$1,626$1,176$838$590$157
29 years$2,114$1,534$1,094$768$533$134
30 years$2,021$1,449$1,019$705$481$114
31 years$1,935$1,370$950$647$435$97
32 years$1,854$1,296$886$595$394$83
33 years$1,778$1,227$828$547$356$71
34 years$1,707$1,163$773$503$323$60
35 years$1,640$1,103$723$463$292$51
36 years$1,577$1,047$676$427$265$44
37 years$1,518$995$633$393$240$37
38 years$1,461$945$593$362$218$32
39 years$1,408$899$555$334$197$27
40 years$1,358$855$521$308$179$23
41 years$1,310$814$488$284$162$20
42 years$1,264$775$458$262$147$17
43 years$1,221$739$430$242$134$14
44 years$1,180$704$403$224$121$12
45 years$1,141$671$379$207$110$10
46 years$1,103$641$356$191$100$9
47 years$1,067$611$334$176$91$8
48 years$1,033$584$314$163$82$7
49 years$1,001$557$295$151$75$6
50 years$970$532$277$139$68$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $993,000, adding $6,165 every year, while hoping to spend $54,889 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: 57/18/25 Blend
59$993,000$993,000$993,000$993,000
60$1,100,645$1,048,016$1,032,625$1,155,571
61$1,154,510$1,040,968$1,008,816$1,186,802
62$1,212,028$1,031,734$982,370$1,214,494
63$1,273,517$1,020,150$953,141$1,243,520
64$1,339,319$1,006,041$920,975$1,274,026
65$1,409,815$989,222$885,713$1,306,173
66$1,485,418$969,496$847,186$1,340,140
67$1,566,585$946,656$805,221$1,376,131
68$1,653,814$920,480$759,634$1,414,369
69$1,747,656$890,736$710,234$1,455,107
70$1,848,712$857,177$656,822$1,498,624
71$1,957,643$819,541$599,188$1,545,234
72$2,075,177$777,553$537,115$1,595,285
73$2,202,111$730,920$470,375$1,649,163
74$2,339,324$679,332$398,730$1,707,301
75$2,487,780$622,464$321,932$1,770,179
76$2,648,538$559,969$239,721$1,838,330
77$2,822,764$491,483$151,827$1,912,347
78$3,011,739$416,619$57,967$1,992,891
79$3,216,873$334,970$0$2,080,693
80$3,439,715$246,105$0$2,187,822
81$3,681,972$149,569$0$2,321,158
82$3,945,518$44,883$0$2,466,309
83$4,232,416$0$0$2,624,474
84$4,544,939$0$0$2,810,539
85$4,885,586$0$0$3,023,116
86$5,257,105$0$0$3,255,042
87$5,662,525$0$0$3,508,217
88$6,105,177$0$0$3,784,733
89$6,588,730$0$0$4,086,891
90$7,117,221$0$0$4,417,227
91$7,695,096$0$0$4,778,532
92$8,327,250$0$0$5,173,878
93$9,019,072$0$0$5,606,650
94$9,776,496$0$0$6,080,573
95$10,606,059$0$0$6,599,751
96$11,514,956$0$0$7,168,702
97$12,511,114$0$0$7,792,403
98$13,603,261$0$0$8,476,336
99$14,801,012$0$0$9,226,536
100$16,114,956$0$0$10,049,653