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%15.8%
1 years$82,001$81,271$80,558$79,862$79,183$77,300
2 years$40,595$39,839$39,106$38,395$37,706$35,820
3 years$26,794$26,035$25,304$24,600$23,922$22,092
4 years$19,895$19,138$18,415$17,723$17,062$15,302
5 years$15,757$15,005$14,291$13,613$12,970$11,285
6 years$12,999$12,253$11,549$10,886$10,263$8,654
7 years$11,030$10,290$9,597$8,950$8,346$6,814
8 years$9,554$8,820$8,139$7,508$6,924$5,468
9 years$8,406$7,680$7,010$6,395$5,831$4,450
10 years$7,489$6,769$6,112$5,513$4,968$3,661
11 years$6,739$6,026$5,381$4,798$4,273$3,037
12 years$6,114$5,409$4,775$4,208$3,703$2,537
13 years$5,586$4,888$4,266$3,715$3,229$2,130
14 years$5,133$4,443$3,833$3,298$2,831$1,797
15 years$4,742$4,059$3,461$2,941$2,492$1,521
16 years$4,399$3,724$3,138$2,634$2,203$1,292
17 years$4,098$3,429$2,855$2,366$1,953$1,100
18 years$3,830$3,169$2,607$2,132$1,737$938
19 years$3,590$2,937$2,386$1,927$1,548$802
20 years$3,375$2,729$2,190$1,745$1,383$686
21 years$3,180$2,542$2,014$1,584$1,237$588
22 years$3,004$2,373$1,857$1,440$1,109$504
23 years$2,843$2,219$1,714$1,312$995$433
24 years$2,695$2,079$1,585$1,196$895$372
25 years$2,560$1,951$1,468$1,092$805$320
26 years$2,435$1,834$1,362$999$725$275
27 years$2,320$1,726$1,265$914$654$237
28 years$2,213$1,626$1,176$838$590$204
29 years$2,114$1,534$1,094$768$533$176
30 years$2,021$1,449$1,019$705$481$152
31 years$1,935$1,370$950$647$435$131
32 years$1,854$1,296$886$595$394$113
33 years$1,778$1,227$828$547$356$97
34 years$1,707$1,163$773$503$323$84
35 years$1,640$1,103$723$463$292$72
36 years$1,577$1,047$676$427$265$62
37 years$1,518$995$633$393$240$54
38 years$1,461$945$593$362$218$47
39 years$1,408$899$555$334$197$40
40 years$1,358$855$521$308$179$35
41 years$1,310$814$488$284$162$30
42 years$1,264$775$458$262$147$26
43 years$1,221$739$430$242$134$22
44 years$1,180$704$403$224$121$19
45 years$1,141$671$379$207$110$17
46 years$1,103$641$356$191$100$14
47 years$1,067$611$334$176$91$12
48 years$1,033$584$314$163$82$11
49 years$1,001$557$295$151$75$9
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 $5,814 every year, while hoping to spend $46,272 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: 44/32/24 Blend
59$993,000$993,000$993,000$993,000
60$1,100,283$1,047,654$1,032,263$1,140,813
61$1,163,279$1,049,756$1,017,610$1,172,218
62$1,231,150$1,050,410$1,000,916$1,201,313
63$1,304,343$1,049,497$982,064$1,231,930
64$1,383,353$1,046,889$960,929$1,264,235
65$1,468,719$1,042,450$937,384$1,298,414
66$1,561,037$1,036,039$911,295$1,334,675
67$1,660,960$1,027,503$882,521$1,373,247
68$1,769,208$1,016,680$850,915$1,414,390
69$1,886,569$1,003,400$816,324$1,458,390
70$2,013,915$987,482$778,586$1,505,570
71$2,152,199$968,733$737,534$1,556,286
72$2,302,474$946,951$692,991$1,610,936
73$2,465,895$921,921$644,775$1,669,964
74$2,643,735$893,414$592,694$1,733,862
75$2,837,394$861,189$536,547$1,803,178
76$3,048,411$824,991$476,125$1,878,523
77$3,278,484$784,550$411,210$1,960,573
78$3,529,476$739,580$341,572$2,050,080
79$3,803,442$689,778$266,974$2,147,881
80$4,102,642$634,827$187,167$2,254,901
81$4,429,566$574,387$101,891$2,372,171
82$4,786,951$508,102$10,874$2,500,832
83$5,177,815$435,594$0$2,642,149
84$5,605,480$356,465$0$2,819,614
85$6,073,601$270,294$0$3,017,103
86$6,586,206$176,636$0$3,233,630
87$7,147,729$75,021$0$3,471,187
88$7,763,054$0$0$3,731,975
89$8,437,559$0$0$4,030,766
90$9,177,168$0$0$4,387,484
91$9,988,405$0$0$4,778,873
92$10,878,456$0$0$5,208,415
93$11,855,235$0$0$5,679,947
94$12,927,463$0$0$6,197,693
95$14,104,742$0$0$6,766,309
96$15,397,651$0$0$7,390,922
97$16,817,846$0$0$8,077,181
98$18,378,164$0$0$8,831,308
99$20,092,749$0$0$9,660,159
100$21,977,181$0$0$10,571,287