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%12%
1 years$82,001$81,271$80,558$79,862$79,183$78,520
2 years$40,595$39,839$39,106$38,395$37,706$37,038
3 years$26,794$26,035$25,304$24,600$23,922$23,269
4 years$19,895$19,138$18,415$17,723$17,062$16,429
5 years$15,757$15,005$14,291$13,613$12,970$12,360
6 years$12,999$12,253$11,549$10,886$10,263$9,676
7 years$11,030$10,290$9,597$8,950$8,346$7,783
8 years$9,554$8,820$8,139$7,508$6,924$6,384
9 years$8,406$7,680$7,010$6,395$5,831$5,314
10 years$7,489$6,769$6,112$5,513$4,968$4,474
11 years$6,739$6,026$5,381$4,798$4,273$3,802
12 years$6,114$5,409$4,775$4,208$3,703$3,254
13 years$5,586$4,888$4,266$3,715$3,229$2,801
14 years$5,133$4,443$3,833$3,298$2,831$2,424
15 years$4,742$4,059$3,461$2,941$2,492$2,106
16 years$4,399$3,724$3,138$2,634$2,203$1,837
17 years$4,098$3,429$2,855$2,366$1,953$1,606
18 years$3,830$3,169$2,607$2,132$1,737$1,408
19 years$3,590$2,937$2,386$1,927$1,548$1,238
20 years$3,375$2,729$2,190$1,745$1,383$1,090
21 years$3,180$2,542$2,014$1,584$1,237$961
22 years$3,004$2,373$1,857$1,440$1,109$849
23 years$2,843$2,219$1,714$1,312$995$751
24 years$2,695$2,079$1,585$1,196$895$665
25 years$2,560$1,951$1,468$1,092$805$589
26 years$2,435$1,834$1,362$999$725$522
27 years$2,320$1,726$1,265$914$654$464
28 years$2,213$1,626$1,176$838$590$412
29 years$2,114$1,534$1,094$768$533$366
30 years$2,021$1,449$1,019$705$481$325
31 years$1,935$1,370$950$647$435$289
32 years$1,854$1,296$886$595$394$258
33 years$1,778$1,227$828$547$356$229
34 years$1,707$1,163$773$503$323$204
35 years$1,640$1,103$723$463$292$182
36 years$1,577$1,047$676$427$265$162
37 years$1,518$995$633$393$240$144
38 years$1,461$945$593$362$218$129
39 years$1,408$899$555$334$197$115
40 years$1,358$855$521$308$179$102
41 years$1,310$814$488$284$162$91
42 years$1,264$775$458$262$147$81
43 years$1,221$739$430$242$134$73
44 years$1,180$704$403$224$121$65
45 years$1,141$671$379$207$110$58
46 years$1,103$641$356$191$100$52
47 years$1,067$611$334$176$91$46
48 years$1,033$584$314$163$82$41
49 years$1,001$557$295$151$75$37
50 years$970$532$277$139$68$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $993,000, adding $4,433 every year, while hoping to spend $21,015 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: 71/13/16 Blend
59$993,000$993,000$993,000$993,000
60$1,098,859$1,046,230$1,030,838$1,172,518
61$1,188,582$1,075,135$1,043,011$1,250,941
62$1,286,754$1,104,753$1,054,888$1,333,814
63$1,394,212$1,135,095$1,066,436$1,424,000
64$1,511,881$1,166,174$1,077,622$1,522,218
65$1,640,780$1,198,004$1,088,409$1,629,261
66$1,782,029$1,230,596$1,098,760$1,746,000
67$1,936,864$1,263,962$1,108,636$1,873,398
68$2,106,642$1,298,115$1,117,994$2,012,512
69$2,292,864$1,333,066$1,126,790$2,164,510
70$2,497,176$1,368,827$1,134,979$2,330,675
71$2,721,398$1,405,409$1,142,510$2,512,423
72$2,967,530$1,442,824$1,149,334$2,711,313
73$3,237,777$1,481,081$1,155,395$2,929,063
74$3,534,567$1,520,191$1,160,638$3,167,563
75$3,860,576$1,560,163$1,165,002$3,428,900
76$4,218,750$1,601,006$1,168,425$3,715,370
77$4,612,336$1,642,729$1,170,841$4,029,504
78$5,044,911$1,685,340$1,172,181$4,374,089
79$5,520,416$1,728,845$1,172,373$4,752,198
80$6,043,191$1,773,251$1,171,340$5,167,216
81$6,618,020$1,818,564$1,169,003$5,622,873
82$7,250,171$1,864,787$1,165,278$6,123,279
83$7,945,451$1,911,924$1,160,077$6,672,962
84$8,710,256$1,959,977$1,153,308$7,276,911
85$9,551,633$2,008,947$1,144,876$7,940,627
86$10,477,349$2,058,835$1,134,678$8,670,167
87$11,495,958$2,109,637$1,122,609$9,472,208
88$12,616,888$2,161,352$1,108,559$10,354,107
89$13,850,525$2,213,973$1,092,411$11,323,972
90$15,208,315$2,267,494$1,074,043$12,390,737
91$16,702,868$2,321,906$1,053,328$13,564,246
92$18,348,080$2,377,198$1,030,134$14,855,347
93$20,159,261$2,433,358$1,004,320$16,275,997
94$22,153,283$2,490,369$975,742$17,839,368
95$24,348,734$2,548,214$944,246$19,559,978
96$26,766,100$2,606,872$909,673$21,453,826
97$29,427,952$2,666,318$871,856$23,538,541
98$32,359,161$2,726,526$830,622$25,833,551
99$35,587,135$2,787,465$785,787$28,360,265
100$39,142,074$2,849,101$737,162$31,142,277